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Scam Watch - Protect yourself from scams

Almost all firms offering financial services in the UK must be authorised by FCA (Financial Conduct Authority). Check FCA list to find out if a firm or individual is unauthorised.
Don't assume a firm is legitimate just because it doesn't appear on this list. Firms frequently change their names and it may not have been reported to us yet.

You should only deal with financial services firms that have been authorised by FCA.
If you deal with an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Beware of fraudsters pretending to be from firms authorised by FCA, as they could be 'clone firms'. If you're cold-called by a financial services firm, always ring them back on the number given on the FS Register.

  • Never pay in advance for the promise of a loan
  • Never give out personal information if you cannot verify the identity of the person or company contacting you
  • Never send money to a person or company if you don't recall taking a loan from them

Loan fee fraud

Have you been asked to pay an upfront fee when applying for a loan or credit? Find out why this may be a scam and how to protect yourself.
FCA are receiving a growing number of reports from consumers who have been asked to pay a fee - usually between £25 and £450 - for a loan or credit that they then never receive.
This is a scam known as 'loan fee fraud' or 'advance fee fraud'.

Spot the warning signs of loan fee fraud:

  • You may have made several loan applications online and then been contacted out of the blue by text, email or phone and offered a loan.
  • You may be asked to make an upfront payment into a bank account, or transfer money via an unusual method, for example Western Union or iTunes vouchers.
  • The scammers may claim that the fee is refundable and will be used as a deposit, administrative fee, insurance or because of bad credit history.
  • You may be put under pressure to pay the fee quickly.
  • Once the first payment has been made, the scammer might contact you again to ask for more payments before they can give you the loan.
  • Even though you make the payments, you never receive the loan.

Protect yourself from scams

There are some general things we should all do to avoid scams:

  • Treat all unexpected calls, emails and text messages with caution. Don't assume they're genuine, even if the person seems to know some basic information about you.
  • Do not be pressured into acting quickly. A genuine bank or financial services firm won't mind waiting if you want time to think.
  • Never give out your bank account or credit card details unless you are certain who you are dealing with.
  • If you are buying a financial product such as a loan, insurance, investment or pension, only deal with a FCA-authorised firm - check FCA Register to see if the firm is registered. Always access the Register from FCA website, rather than through links in emails or on a firm's website (it might be part of the scam).
  • Double-check the URL and contact details of a firm in case it's a 'clone firm' pretending to be a real firm, such as your bank or a genuine investment firm.
  • Check the list of unauthorised firms and individuals FCA have received complaints about. If the firm isn't on that list, don't assume it's legitimate - it may not have been reported to FCA yet.
  • Check your bank account and credit card statements regularly.
For more advice on the basic steps everyone should take to avoid scams, check out:
If you suspect that a clone firm or any other unauthorized firm have contacted you and tried to obtain personal details please contact the Financial Conduct Authority consumer helpline at 0800 111 6768 if you have any questions please email us at customerservice@advfinance.uk.



WARNING: SCAM ALERT

Please be aware that fraudsters are sending scam email using our FCA authorised firm and our office address to try to convince people to give them personal details and upfront fees to obtain loan deals.

YOU MUST NOT MAKE ANY PAYMENT or share your personal details.

ADV FINANCE LTD t/a MrLoans is a credit broker and not a lender. Our service is entirely free of charge.
We do not charge you fees or insurance costs for the services provided and we do not require any credit/debit card details to all our clients. Any request for payment in our name is a scam, please do not pay it.

If you suspect that a clone firm or any other unauthorized firm have contacted you and tried to obtain personal details please contact the Financial Conduct Authority consumer helpline at 0800 111 6768 if you have any questions please email us at customerservice@advfinance.uk

An unsecured loan is a personal loan that is not directly connected to your assets. The issuing of the loan is completely based on the borrower's credit profile and economic circumstances. Unsecured loans are typically offered with term lengths between one and seven years, and with borrowing levels up to £25,000. However, some lenders set the maximum borrowing level at significantly less.

Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk

We want you to be sure this loan is right for you. So before you carry on, please only apply for a loan if you are confident that you are able to make the repayments on your due date and still manage your other outgoings. Missing repayments may have a negative effect on your credit rating and make it more difficult for you to obtain credit in the future.
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. A PAYDAY LOAN OFFERS A SHORT TERM FINANCIAL SOLUTION AND SHOULD NOT BE USED AS A LONG TERM SOLUTION.

Unsecured short term loans allow consumers to borrow money for a brief time. They can be expensive and they won't be suitable for everyone. But for people who need to borrow money for a short period of time and are confident that they have the means for repayment, short term loans can be an option.

49.9% APR Representative (Fixed)

Representative example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative (Fixed) APR rates range from 45.3% APR to 1575% APR. The rate is subject to change and the representative APR may not be the rate you'll receive. The rate you pay depends on your circumstances and loan amount, and may differ from the Representative APR.

Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk

We want you to be sure this loan is right for you. So before you carry on, please only apply for a loan if you are confident that you are able to make the repayments on your due date and still manage your other outgoings. Missing repayments may have a negative effect on your credit rating and make it more difficult for you to obtain credit in the future.
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. A PAYDAY LOAN OFFERS A SHORT TERM FINANCIAL SOLUTION AND SHOULD NOT BE USED AS A LONG TERM SOLUTION.

A guarantor loan involves a third party - such as a parent, legal guardian or employer - agreeing to meet the monthly repayments or pay off the loan completely in the event that the borrower defaults. The guarantor will be legally bound to comply with the terms and conditions agreed to and can be subject to court action and debt recovery measures if they fail to do so.

Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk

We want you to be sure this loan is right for you. So before you carry on, please only apply for a loan if you are confident that you are able to make the repayments on your due date and still manage your other outgoings. Missing repayments may have a negative effect on your credit rating and make it more difficult for you to obtain credit in the future.
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. A PAYDAY LOAN OFFERS A SHORT TERM FINANCIAL SOLUTION AND SHOULD NOT BE USED AS A LONG TERM SOLUTION.

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We don’t require a credit card or any payment

We never charge any fees for the lifetimeyou for the use of our UNIQUE PLATFORM service and therefore we do not need any card details.

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Repayments on your Pay Date

We recommend set repayments correspond to a pay dates help to manage your money and always make sure you are able to make repayments on your loan in full and on time.

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Will I be accepted for a loan?

The success of a loan application will be dependent on your credit profile, previous and current financial situation, demographic profile and sometimes your relationship with the lender.

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Online & Secure

Your secure online account area allows you to manage your account 24/7 meaning you can apply when you are ready. Simply complete our secured form.

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Let's make today your payday!*

MrLoans has a large panel of payday and other lenders to consider your application. You will receive a decision from one of our panel lenders within minutes of your application being submitted. MrLoans is not a lender but is a licensed credit broker, which introduces borrowers and lenders for the purposes of entering into unsecured loan agreements. We have a wide range of lenders across the UK available to look at your application. If your loan is approved by one of these lenders, funds may be transferred to your bank account on the same day.

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Non Payment Implications

The implications of non-payment of your loan could include adverse details being included within your credit report. This could adversely affect future attempts at securing credit or finance, in addition to further charges potentially being added by the lender. Where you miss a payment entirely, you will often incur a charge/fee that will be added on to the total amount that you owe. Upon a missed payment, lenders will often try to contact you by telephone or letter in order to recover the funds and they may be able to arrange a new re-payment date with you. If you are struggling, or think there is a possibility that you will not be able to meet repayments, We strongly recommend that you contact the lender in the first instance.

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Important things to remember:

- Don't borrow money if you know you will struggle to pay it back
- Don't ignore the situation, contact your lender as your first port of call Please be aware that if do not repay your loan at the agreed date between yourself and your lender, this will result in your lender reporting your case to the Credit Reference Agencies; which may have a negative effect on your credit score. This may negatively impact your ability to obtain credit in the future for services such as car finance, mobile phone contracts or satellite TV subscriptions. If you default, you may be charged a collection fee (which varies from one lender to another), plus interest on the balance outstanding at the interest rate payable under the agreement. You must pay your lender any reasonable expenses and costs that may be incurred in taking steps to enforce (for example, via County Court Judgments), or attempt to enforce, the lenders rights against you under your agreement.

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