Frequently Asked Questions

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  4. Is it safe to get an online loan?
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  2. FAQs
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  4. Is it safe to get an online loan?

Is it safe to get an online loan?

Stick man using a laptop

Online safety is a major issue today, so is getting an online loan OK?

Applying for a loan online is safer than it has ever been, however, it’s important to ensure no unnecessary risks are taken.

See the two simple steps you should do to ensure you remain safe online when looking for, and taking out a loan:


 

1. Check FCA Register

There is strong regulation of all financial business within the UK 👍

The government organisation that regulates the loan industry is the FCA (Financial Conduct Authority)

  • The primary purpose of the FCA is to safeguard you, the consumer.
  • All companies that engage in credit broking or lending must be approved by the FCA, which means they’ve demonstrated that they are suitable to run this type of business.
  • As an FCA regulated business, you have to make regular submissions to the FCA and companies who are not professionally run can have their approval removed.
  • So before you use any company, whether it is a broker or lender, please make sure they are approved by the FCA by checking:
    • The company’s FCA Approval Number (often in the website footer)
    • The company is in the FCA Register
  • See our details below

All lenders on guarantorloansuk.net are FCA Licenced, and their details can be found on the FCA Register.


 

2. Registered with the ICO

As part of the Data Protection Act passed by the UK Government to safeguard individual’s personal information, all credit brokers and lenders in the UK must also be registered with the Information Commissioners Office

So before you use any lender you should also check

  • The companies ICO Number (often in the website footer)
  • The company is in the ICO Register

See our details below


All lenders on guarantorloansuk.net are ICO Registered, and their details can be found on the ICO website.


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