Lending Stream Short-Term Loan: Emergency Cash, High Cost

The Quick Version

Lending Stream offers short-term loans with APRs ranging from 99.9% to a staggering 1333%. New customers can borrow between £50 and £800, while existing customers can access up to £1500. Approval is quick, often within minutes. However, the cost is high — this option should be your last resort after considering alternatives like credit unions.

Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.

The Numbers

According to Lending Stream's official page, the representative APR is 1271%. Borrowing £300 over 6 months results in total repayment of £578.36, with £278.36 as interest. The loan term ranges from 3 to 6 months, and approval can happen in minutes.

What's Actually Good

Lending Stream is fast, with many approvals happening in minutes. It's available to those with bad credit, and applying won't initially affect your credit score. Trustpilot reviews are positive, with a 4.8 out of 5 rating from over 33,000 reviews. The FCA regulates the service, adding a layer of reliability.

The Catch

The APR is exorbitant, making this a costly option. With a representative APR of 1271%, you could end up paying double what you borrow in interest. It's not sustainable for long-term borrowing and should only be used when you've exhausted all other options.

Who Benefits Most

This loan is best for UK residents over 18 who need emergency cash and have exhausted all other options. Suitable for those with a low credit score who require a quick, short-term loan between £50 and £1500.

The Bottom Line

If you're in a financial bind and have few alternatives, Lending Stream can provide quick cash. But beware of the steep costs. Consider this only if you understand the financial implications and have no better options.