Looking for Lending Stream Loans?
Drafty is a cheaper, and more flexible alternative to Lending Stream loans.
Who are Lending Stream?
Lending Stream is a reputed short term loan direct lender in the UK. They have been providing borrowing solutions to customers online since 2008. Lending Stream offers an alternative to traditional payday loans. Instead of paying your loan back in one go, they'll give you up to 6 months to repay. You may find it's easier on your budget.
New customers can borrow up to £800, and returning customers can apply for up to £1,500.
If you’re looking for something like Lending Stream, we think we could offer you something you’ll like even more. Here at Drafty, we’re a little more flexible than your standard loan. Instead, we can offer a line of credit of up to £3000.
We offer easy applications and quick decisions. If approved, we’ll send the cash to your bank in 90 seconds. The best part is that you’ll only pay interest on the amount you use from your credit line.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
Is Lending Stream a legitimate company?
Yes. Lending Stream is a legitimate company. Lending Stream is a trading name of GAIN Credit LLC. Gain Credit LLC is an FCA-authorised and regulated direct lender. Their registration number is 689378. On their website, they say that responsible lending is their biggest priority, and they want to make sure their customers` experience is great. To achieve this, they believe transparency is key.
You can read Lending Stream customer reviews on Trustpilot and Reviews.io.
How does Lending Stream work?
Lending Stream is a direct lender, providing short term loans to UK residents. You can apply for a loan online, and once your application is submitted, they aim to give you an instant decision. Approval is subject to credit and affordability checks. This ensures that the loan is manageable based on your financial situation. If approved, the loan amount will be transferred to your bank within 90 seconds.
Borrowers have 6 months to repay their loan. However, Lending Stream allows early repayment without any extra fees. This can reduce the amount of interest you pay.
What type of loans does Lending Stream offer?
Lending Stream offers short term loans from £50 - £1500 (up to £800 for first-time borrowers), with a repayment period of 6 months. If approved, the cash will be sent to your bank within 90 seconds. Plus, you won't be charged fees if you repay the loan early.
Lending Stream even considers people with bad credit, so customers might be eligible for bad credit loans.
What can a Lending Stream loan be used for?
Lending Stream loans can be used for various purposes, including urgent home improvements, car repairs, medical bills, and unexpected expenses. If you are looking for an alternative to loans, try Drafty. You can use your approved line of credit to cover repairs, big purchases, home improvements and unforeseen expenses. Plus, with Drafty, you’ll get an online account from which you can manage your credit limit easily.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
What APR and loan terms are offered by Lending Stream?
Lending Stream loans have a representative APR of 1,333%, but the actual cost of your loan is based on the amount you borrow. Applying for a short term loan with Lending Stream is simple. Choose how much you want to borrow and fill in your personal, banking and employment details.
When you submit your application, Lending Stream will conduct credit and affordability checks. It is important to provide accurate information when completing the application form.
If you are approved for a loan, they will send you the loan terms and agreement. If you are comfortable and agree to the terms and conditions of your loan, you’ll get the approved loan amount sent to your bank within 90 seconds.
How is Drafty different from (or better than) Lending Stream?
| Drafty | Lending Stream |
| We offer a potential credit limit of up to £3000. | Lending Stream offer short term loans between £50 to £1500 and 6 months to repay. |
| Drafty has a Representative 96.2% APR (variable). | Lending Stream has a Representative 1333% APR. |
| You need to repay a minimum amount every month. Want to repay your loan early? That’s fine with us! We don’t charge anything extra. Also, it’s easy to make payments through our app. | At Lending Stream, you repay a specific fixed amount every month, depending on your loan terms and agreement. They don’t charge any extra fees if you want to repay early. |
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
Who can apply for a loan with Lending Stream?
If you want to apply for a short-term loan with Lending Stream, you'll need to be at least 18 years old, a UK resident and in regular employment earning at least £400 a month. You'll also need a valid debit card and active bank account.
For more information, visit Lending Stream's website.
How can I check my eligibility with Drafty?
You can apply online for a line of credit with Drafty if you are:
- Aged 18 or over and employed
- Earning at least £1,250 a month
- A UK resident with an active UK bank account and debit card
After you’ve provided the required details, we’ll do credit and affordability checks. If approved, we'll agree on a credit limit and send cash to your bank within 90 seconds. We might consider you for our line of credit even if you have a poor credit history or bad credit score.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
How can I apply online with Drafty?
Here's how you can apply:
- Apply - Visit our website and click on the apply now button. Fill out our online application form by entering a few personal details to help us understand who you are.
- Get a credit limit - If approved, you’ll be given a credit limit of up to £3,000. You can use it as you require, paying interest only on what you use.
- Flexible payments - You’ll need to repay a minimum amount every month. Want to repay early? That’s fine with us! We don’t charge anything extra. Also, it’s easy to make payments through our app.
- Fast cash transfer - Use Drafty whenever you need to, and we’ll send the money to your bank in under 90 seconds.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
FAQs - Lending Stream
What happens if I miss a Lending Stream payment?
If you miss a payment, Lending Stream will apply a late payment fee to your account, unless you have spoken to them in advance to let them know your payment will be late. They will never charge more than £12 in late payment fees over the lifetime of your loan.When will I get my money from Lending Stream?
According to their website, if you’re approved for a loan with them, they’ll send the cash to your bank within 90 seconds.Is Lending Stream a broker?
No, Lending Stream is not a broker. They are a direct lender. As a direct short term lender in the UK, Lending Stream offers short term loans directly to customers without the involvement of third parties. They lend from £50 to £800 (to new customers) and up to £1500 (to returning customers) with 6 months to repay.Drafty is an FCA-authorised provider of a Revolving Line of Credit with a credit limit of up to £3000, available to borrow as and when you need it (subject to affordability checks). You only pay interest on what you draw/use.
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.4% (variable).
There is no set minimum or maximum repayment term, so long as the minimum monthly repayment sum is met, however, you may repay back early without any fees and save on interest.