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Don’t give scammers an upfront advance fee for a loan you will never receive. All Purpose Loans will never charge any fees.
All Purpose Loans is one of the most popular loan sites in the UK and sadly, we know that scammers have pretended to be from All Purpose Loans in order to make their loan offer look like it is from a trusted company. We have reported this to the FCA and there is a warning on our FCA registration to hopefully help stop this fraud. All Purpose Loans will never ask for an upfront fee. If you have been asked for an upfront fee from All Purpose Loans you have actually been contacted by scammers. Please read below and help protect yourself and others from becoming a victim.
Loan fee scams happen when you’re asked to pay an upfront fee for a loan you’ll never receive.
Advance fee fraud for a loan is now the most common type of scam reported to the Financial Conduct Authority (FCA), ahead of investment fraud.
If you’ve got limited access to mainstream credit, have a lower income or a lower credit rate, then you’re more likely to be targeted by loan fee scammers. Fraudsters will try to convince you that you can pay an advance fee for a loan, which you’ll never receive.
Some people are persuaded to make several payments before they realise it is an advance fee scam.
If you are asked to pay an upfront fee for a loan it could be an advance fee scam.
Here are some of the common signs of an advance fee loan scam:
If you think you’ve been approached by an unauthorised firm or a scammer is trying to con you into sending an advance fee for a loan, report it to the FCA via its reporting form and select Consumer Credit as the type of scam. We also want you to contact us so we are aware.
If you think you have lost money to fraud, you should report it to Action Fraud on 0300 123 2040 or online via their website(link is external).
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
Our comparison tool is free to use because we will receive a commission from the introductions we make to eligibility checkers accessed through this site.
All Purpose Loans is a comparison tool and credit broker, we’re not a lender, which means we don’t make personal loan or credit decisions. We match the information you provide to us with Lenders or Eligibility Checker Providers on our panel. Using our comparison tool gives you unbiased access to Lending Products. Any information on this website should be taken as opinion only, this website is for individuals over 18 years of age and UK users only.
Unsecured Loan Representative Example: Representative 29.7% APR fixed. Based on a loan amount of £4,000.00 for 3 years at 29.7% p.a. Total amount repayable is £5,824.00 with monthly repayments of £161.78 per month. 51% of customers get this rate or lower.
Lenders accessible through this site offer unsecured loans from £1,000 to £25,000 over terms between 1 and 7 years with APRs from 8.24% to 252.71%.
Secured Loan Representative Example: If you borrow £25,500 over
96
months at a rate of 7.24% fixed for 5 years, you
will pay 60 instalments of £407.24 per month followed by 36
months at a rate of 11.24% of £431.82 and a total amount
payable of £39,979.92. This includes a broker fee of £2,805, a
lender
fee of £1,295, and the net loan interest of £10,379.92.
The overall cost for comparison is 12.6% APRC Variable. This means 51% or more of customers receive this
rate or better.
Lenders accessible through this site offer secured loans from £5,000 to £500,000 repayment periods from 3 to 30 years and with rates between 5.99% to 49% APR.
Eligibility Criteria and Lender Terms & Conditions apply.
All Purpose Loans is a trading name of Mycasa LLC. Mycasa LLC is registered in United States of America. The principal place of business is 124 Broadkill Rd #479, Milton, DE 19968-1008, USA. Mycasa LLC is an appointed representative of Everything Financial Technologies Limited which is authorised and regulated by the Financial Conduct Authority (“FCA”). FCA Firm Reference Number 964790. Mycasa LLC is registered with the Information Commissioner, Licence No. ZA434846.
Our comparison service is provided and powered by Everything Financial.