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TFS Loans stopped lending in 2022 and is being wound down. TFS Loans Limited went into administration on 8 February 2022 and has made no new loans since. The FCA later fined TFS £811,900 for failing to properly check that guarantors could afford the loans they guaranteed. TFS will not return to lending. TFS is not on our lender panel.
For alternative loan options see below.
TFS will continue to operate though will not be making any new loans. They are working closely with the Financial Conduct Authority (‘FCA’) to ensure that customers are treated fairly and in line with FCA guidance whilst we continue collecting outstanding loan balances.
Have a bad credit rating and looking 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.
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.
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.
TFS has gone into Administration so will no longer be able to offer new loans, including existing customers.
They have noted that it is important that all existing customers continue to repay their loans in accordance with the terms of their agreements, as maintaining payments can have a positive impact on your credit score.
TFS Loans was one of the most established lenders in the guarantor market, and also had the largest loans available up to £15,000
which is significantly more than most of the other lenders. Their rates were also reasonable and they have loans available to both homeowners and tenants. If you have a poor credit rating, then the options to get larger loans are normally non-existent, but TFS have now made this a reality.
TFS also had a sister brand called SUCO; they offer exactly the same product, are owned by the same company and are administered by the same people. The only difference is the name.
Allister Manson and Trevor Binyon of Opus Restructuring LLP were appointed Joint Administrators (the ‘Administrators’) of TFS Loans Limited (the ‘Company’ or ‘TFS’) on 8 February 2022.
TFS will continue to operate, although it will not be making any new loans.
TFS specialised in ‘guarantor loans’, their previous loan* features:
As of writing, we have no information that will indicate that TFS Loans will start lending again.
No.
TFS is one of a number of lenders who are no longer on our panel for a variety of reasons, others include:
Doorstep Loans
Guarantor Loans
Company Name: TFS Loans Limited
Co Reg No: 06542065
Website: buddyloans.com
Registered office address: 4th Floor Euston House, 24 Eversholt Street, London, NW1 1DB
FCA Ref No: 724439
Firm Name: TFS Loans Limited
Principal Place of Business: C/O Allister Manson and Trevor Binyon, Opus Restructuring LLP, Euston House, 25 Eversholt Street, Euston, London, NW1 1DBN, UNITED KINGDOM
No Longer Registered
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.
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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