How much do you want to borrow?
£1,000 £25,000Over how many months?
12 months 60 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
10% - 16%
13.25%
£1,000 - £25,000
Minimum Term 1 year
Loans up to £25,000 - 5 years
Deducted from your debit card
7-14 working days
£80.00
None Available
Transferred into your bank account
No
169th for APR of 423 loans in the UK (See Lender League Table By APR)
114th for Customer Satisfaction (See Customer Reviews)
Yes-secure is a peer to peer lending website. What this basically means is that you, (the borrower) borrow directly from other people (the lender), cutting out the bank.
To apply, you need to register on their website as a borrower. You will need to verify your email address and your debit card details. Once you have completed all of your information on their registration, they will place you in a band A* - E (A* being the least risk and E being the most risk). This will determine how much money you are able to borrow. Then, you must complete a loan listing telling people how much you need, your preferred loan duration and the maximum interest you are willing to accept. Once you submit your request, lenders can start to bid to fund your loan. When the loan listing closes successfully, you will receive confirmation that your loan has been fully or partially funded. If you choose to accept the loan offer, the money will be transferred into your bank account. You must receive 80% funding before you are eligible for the loan.
YES-secure acts similarly to a social networking site because you can connect to people that you may already know. This provides a way for people to lend and borrow money between one-another. You just need to advertise why you need the loan, then potential lenders bid on the loan in order to fund it. Make sure you clearly explain why you are searching for a loan as it can help decrease the rate. On the other hand, loans from nontraditional sources may be riskier than those from more established banks.
|
Default Fees |
If you were to default on the loan, they will use professional Debt Collection companies to retrieve the money |
|
Early Settlement Fees |
None |
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Other Fees |
Tracing Charges - £25.00 Charges for Document Retrieval - £35.00 |
|
Late Payment Fees |
Failed Payment - £20.00 |
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Monthly Arrears Fees |
Arrears Fee - £80.00 |
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Arrangement Fee |
£80.00 |
Average Customer Review:
(11 customer reviews)
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just Amazing
Paul, London
5 months ago
Just Amazing....I landed money on yes-secure and they were amazing in giving such high return. The best thing about YS is that you are always aware of the people whom you are lending to, this helps an investor to be assured for his investment.
RUBBISH
Val, Glasgow
1 month ago
I was advised if the loan was agreed with the lenders then the underwriting was just procedure and loan would be confirmed straightaway.My loan was then declined at underwriting stage after a week,they are now attempting to phone me constantly even though i have told them i am no longer interested and now they seem to have sneakily got a hold of my...
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AVOID
Pete, Rugby
7 months ago
DONT be lurred in by the possibility of a loan if your credit is poor. They charge £3 to verify you exist (visa) then they charge £20 to get your advert listed REGARDLESS if they accept it. This means Ive paid up £23 today for NOTHING. I didnt see anywhere about their minimum credit limit nor nonrefundable fee as a result of them deciding not to place you on the system. talking ont he phone theyr enot interested in any refunds. AVOID AVOID AVOID. What a waste of money. Feel a right Idiot.
Penal rates of interest even for A* borrowers
S middleton, England
8 months ago
Firstly, there is £1.3 million of lending requests, with only £50,000 in the fund to lend, so you've got zero chance of raising more than a couple of thousand. You can check the funding amount on the scrolling panel on the front page. Secondly, while the quote page suggests A* interest rates of between 10 - 16%, once you've been through all the verification process,set up account, made your your loan request with a detailed description of why you want the finance, you then request an interest rate, but receive offers from people significantly in excess of the rate requested. Lending members will openly tell you that your rate will end up being around 17% - for an A* borrower! Go to Yes Secure if you've not been able to secure funding elsewhere and you're happy to pay penal rates of interest far in excess of what the big banks will charge. If you've got other options, dont even bother trying this site. Complete waste of time.
A good experience!
Alex, Hampshire
10 months ago
1 month ago I had applied for a loan of 4K. I was having a good score with all the 3 credit agencies still had to suffer a denial from zopa, natwest & ratesetter. I think they only settle for too perfect a profile. Although a little than higher rate at YES-secure, I managed to get the loan approved in 2 days after sending the documents. I was graded an A star there. I found the Underwriting quite impressive at YS. They could dig into my bank statements to find that I also had a small payday loan that I did not mention on the public profile. The lady manager was polite & swift with her replies & handled my case quite cleverly & fast. I found some loopholes in the system though, but not a bad experience to quote.
Checknet House, 153 East Barnet Road, Barnet, EN4 8QZ
0871 221 9410
sales@yes-secure.com
