Buddy Loans
Shane Crooks, Antony Nygate and Kiri Holland were appointed as Joint Administrators (the ‘Administrators’) of Advancis Limited t/a Buddy Loans (the ‘Company’ or ‘Buddy Loans’) on 7 September 2021.
For alternative loan options see below.
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Buddy Loans
Buddy is no longer trading as it has gone into administration
Buddy Loans will no longer be able to offer new loans, including new loans to existing customers.
Since the Appointment Date, the Administrators have worked closely with the Company’s key stakeholders, including its secured creditors and the Financial Conduct Authority (the ‘FCA’), to finalise the methodology and scheme of redress (the ‘Redress Scheme’).
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Allcreditloansnet Representative 49.9% APR
Representative Example: Borrow £3,250 over 36 months at a Representative Rate of 49.9% APR at an annual interest rate of 41.16% (fixed), you pay 36 instalments of £158.57. Total charge of credit is £2,464.57, total amount payable £5,714.67.
About Buddy Loans
Buddy was set up by Nicholas Zapolski and Guy Mackenzie in 2013 and is the trading name for Advancis Limited; both had a rich background within the financial services industry.
Details of the Buddy Loans Redress Scheme (for more info see their website)
Prior to the commencement of the Administration on 7 September 2021 (the ‘Appointment Date’), Buddy Loans had been working to develop a methodology for identifying customers who had potentially been provided with an unaffordable loan as a result of Buddy Loans’ lending practices, in order to determine whether such customers were eligible for redress.
Since the Appointment Date, the Administrators have worked closely with the Company’s key stakeholders, including its secured creditors and the Financial Conduct Authority (the ‘FCA’), to finalise the methodology and scheme of redress (the ‘Redress Scheme’).
The Redress Scheme has now been finalised and Buddy are starting to contact customers (and associated guarantors) who had an outstanding loan at the Appointment Date which has been identified as being eligible for redress.
Questions
Shane Crooks, Antony Nygate and Kiri Holland were appointed as Joint Administrators (the ‘Administrators’) of Advancis Limited t/a Buddy Loans (the ‘Company’ or ‘Buddy Loans’) on 7 September 2021.
Buddy Loans will continue to operate, although they will no longer be making any new loans.
Buddy specialised in ‘guarantor loans’, their previous loan* features:
- Type: guarantor loan
- Amount: £1,000 – £10,000
- Term: 12 – 60 months
- APR: 49.9% representative
As of writing, we have no information that will indicate that Buddy Loans will start lending again.
No.
Buddy is one of a number of lenders who are no longer on our panel for a variety of reasons, others include:
Doorstep Loans
- Provident Personal Credit – the Provident business was closed on 31st December 2021 so is no longer lending.
- Greenwood Personal Credit – never directly on our panel, Greenwood Personal Credit was acquired by Provident in 1977, and as above has closed and is no longer lending.
- Shopacheck – never directly on our panel, Shopacheck was acquired by the Perpignon Group and merged with Morses Club in March 2015 (who are on our panel).
Guarantor Loans
Company Info
Companies House Info
Company Name: Advancis Limited
Co Reg No: 08089541
Website: buddyloans.com
Address: C/O BDO LLP, 5 Temple Square Temple Street, Liverpool, L2 5RH
FCA Registration
FCA Ref No: 718849
Firm Name: Advancis Limited
Principal Place of Business: One Newmarket Avenue, White Horse Business Park, Trowbridge, Wiltshire, BA14 0XQB, UNITED KINGDOM
Data Protection Info
No Longer Registered
Get Accepted for a Loan
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk. AllCreditLoans is a licensed credit broker and not a lender.
Choose your loan amount: £500
How many months?
If approved, you could receive funds by 9:02 AM
- 3-minute online application
- Up to 35 UK lenders
- Instant online quotes
- No obligation
- No fees - we are a free service
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk
All Credit Loans is a licensed credit broker and not a lender.
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