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Frequent Questions
Find the answers below
Pre-Application
Tendo is a trading style of Nouveau Finance Ltd. Nouveau Finance Limited is authorised and regulated by the Financial Conduct Authority. We are a credit broker that offers credit facilities from a panel of lenders
A credit broker is a company or individual that helps people find credit, such as a loan, by comparing different options and introducing them to a suitable lender. A credit broker must be authorised and regulated by the Financial Conduct Authority (FCA) and follow certain rules to protect consumers. You can check if a credit broker is authorised by searching the Financial Services Register
Unlike a short term loan, the instalment loan product is usually a higher value loan typically £400 to £5000. The instalment loan is also paid back over longer periods of 3 to 24 months and incurs a smaller interest rate than a short-term loan
To be eligible for applying, you need to meet the following criteria: you are at least 18 years old, you reside in any part of the UK (England, Scotland, Wales, or Northern Ireland), you have a job and earn a regular income that is paid into a valid bank account that can handle direct debits
Complete our quick and easy online form and just click ‘Get My Quote’. If you are approved, you will be transferred to the lender’s website to complete the process. Your lender may ask some additional questions not captured on our application form. You then sign your loan agreement online and if approved will receive your loan from your lender
Loan amounts range from £100 - £5000. You should always be very careful before applying for credit and you should never borrow more than you need or can afford to pay back
You will need to provide the following information: details of employment, your bank account and debit card details (including the sort code and account number), and your address history for the last three years. You also must provide details of your income and expenditure, including any current financial commitments
Lenders require us to collect this sensitive information so that they can complete checks in line with responsible lending and to assess if the loan repayments will be affordable for you. We do not have the ability to take any money from your account
Yes, we strictly follow best practices for data protection and encryption
We will not perform a credit check. Lenders will complete a soft search when assessing your eligibility for a loan, if you accept a lender’s loan offer, they will perform a hard credit search
A soft credit search is a type of credit check that does not affect your credit score or show up to other lenders on your credit report. It is usually done by yourself or by a company that wants to check your eligibility for a credit product, such as a loan or a credit card before you apply. A soft credit search can give you an idea of how likely you are to be accepted for a credit product, without harming your credit score
A hard search is a type of credit check that happens when you apply for credit or a service that requires a credit agreement. It is a detailed look at your credit report and score by a potential lender or provider. A hard search leaves a mark on your credit report that other companies can see, and it may affect your credit score and your chances of getting approved for credit in the future
You may be able to use a loan to clear other debts, but we strongly recommend that you think carefully about your situation and whether you can afford it. We also urge you to consider the long-term impact of your financial decisions
If you need further help or advice, you can get free support from MoneyHelper
No - Here at Tendo Loans we do not charge you a fee for using our loan matching service. However, if we are unable to find an instalment loan for you, we may be able to match you with an alternate broker that may charge you a fee for accessing their extended panel of lenders
There will be no obligation to pay the fee, you will have the right to decline the fee and select a no fee option. We only work with brokers who offer a free trial period and full refunds when the service does not meet expectations
Fees are charged by some of these entities to cover the cost of call-centre operations and membership system infrastructure required to source alternate loan options for you.
If you decide to pay the fee, all our partners will take your payment details via their website using SSL/TLS-secured technologies. No one will ever contact you and ask you to purchase products in advance to prove your ability to pay. If this happens you may be a victim of fraud
The term APR stands for annual percentage rate. It is used to help you understand what the total cost of borrowing would be over a year. It’s a way to show you the real cost of borrowing, including interest and any fees or charges
In general, the lower the APR, the better it is for you. This is because you pay less for borrowing overall. But it’s important to consider how long you’ll be borrowing for and how flexible the credit is too. Short-term loans are normally taken over a maximum term of 60 days, so APRs are not the best way to measure how competitive rates are. Our lenders prefer to focus on the amount you pay back in total rather than APR. If an APR is representative, that means the rate shown is what is being offered to most people who apply (at least 51%)
Absolutely, many of our lenders will consider applicants with less than perfect credit histories
Getting a loan may be difficult if you do not have a job. Many lenders will reject your application if you do not earn a regular income from work. If you need financial assistance while you are unemployed, you can get free and impartial advice from StepChange or MoneyHelper
Being on benefits may make it harder for you to get a loan. Many lenders will not lend to you if you do not have a job, but if you have another source of income besides benefits, such as a full-time or part-time job, you may still qualify for a loan
To operate this service we receive commissions from the provider we refer you to. We are a broker not a lender. We use a unique algorithm to match our customers' requirements to our panel of lenders which is based on many of the features of the application details, applicant preferences, and the lenders product but does not include the commission paid by the lender to us
Post-Application
Provisionally approved means that a lender has given you a conditional offer of a loan, based on some preliminary information that you have provided. It does not guarantee that you will get the loan, as the final approval will depend on a more thorough check of your credit history and other factors
Times will vary based on the lender you have been matched to and the loan product type you are seeking. Using short-term loans as an example, in many cases loan decisions can take as little as 10 minutes. If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 14:30
It will be paid directly into your bank account
The vast majority of loan repayments are automatically taken from your bank account on your pre-agreed repayment dates using continuous payment authority
If for any reason you choose to cancel your loan please refer to the loan agreement sent to you by your lender, cooling off periods and lender cancellation policies may vary
If you feel you won’t be able to make your next repayment, please don’t worry, contact your lender as soon as possible. The sooner they know there’s a problem, the sooner they can start to help. They don’t tell people off – they’ll do whatever they can to make things easier! You’ll probably be surprised how understanding they are, so don’t be afraid – just pick up the phone now and if you need help locating phone numbers contact us
Alternatively, if you’re worried about things and want more information about how to manage your money, there are a number of free and independent organisations which can help:
- StepChange 0800 138 1111. Free advice on debt problems and finding the best solution for you
- MoneyHelper. Offers free, unbiased and independent advice to people who want to manage their money more effectively. Face to face sessions available
- National Debtline 0808 808 4000. Free, confidential debt advice service run by the Money Advice Trust
If you are receiving email and text messages from our company it is because the marketing permission box was checked when you submitted your application
If you wish to opt out, please click on the unsubscribe link in one of our emails or reply 'STOP' to one of our text messages. Alternatively visit our home page and click on the SMS Opt Out link at the bottom of the page. After unsubscribing we will then discontinue sending you messages as soon as technically feasible. In most cases within 48hrs
If we are unable to find you a loan today, for security reasons, lenders don’t share with us exactly why they’ve declined your application. There are a few things lenders look at when deciding, and below are some examples which might help you understand your outcome today:
- You do not meet the eligibility criteria of the lender, such as age, income, employment, residency, or homeownership
- Your level of disposable income is too low to afford repayments
- You have provided incorrect or incomplete information on your loan application
- You have made multiple loan applications in a short period of time