Loan Centre

Loan Centre are a website based personal loan broker. They offer to help consumers find loans between £100 and £100,000 regardless of their credit history.

Applications are made to Loan Centre via their website. There application form requires about 25 different pieces of information, which they then use to match your details to their list of available loans.

Once you have applied you will be told that they have set up an online account for you and you will be presented with some log in details. At this stage Loan Centre will ask you to provide your credit/debit card details so that they can arrange your broker fee for a later date. This means that you agree to pay them a fee in several weeks time if you are happy with the lenders they provide for you, Loan Centre will also ask you if you want to subscribe to a monthly account service for an additional monthly cost.

Once you have provided your card details, you will be forwarded to your online account page where some loan options will be made available to you. You can then research the loan options before proceeding to apply with the suitable lenders.

Loan Centre claim to compare over 540 lenders in order to find you the right one. This is untrue. Loanpages.com has 337 active UK lenders. What's more, when we put some test applications through the loan centre website we noticed that the available options seem to be limited. It is more likely that they compare only a handful of loans like the majority of loan brokers.

Loan Centre do not charge fees up front, however we have read many reviews which suggest that they charge their fees to consumers even if the customer has cancelled. Moreover, it is unclear if Loan Centre always make their charges clear to users, with many users reporting that they were never made aware a fee was being charged.

Do not use this service, loanpages.com has more loan options, and is completely free. Ask in the community for help finding a loan.