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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 LuckyFinance 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

  • Personal loan

    A personal loans are typically offered with term lengths between one and seven years, and with borrowing levels up to £25,000.

  • Guarantor loan

    A guarantor loan involves a third party agreeing pay off the loan completely in the event that the borrower defaults. Borrow up to £10,000

  • Short term loan

    Unsecured loans allow consumers to borrow money for a brief time. They can be expensive and they won't be suitable for everyone. Borrow up to £1,000

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How LuckyFinance works?

All you need to do is enter your details into our intuitive form and we will scan for you our large panel of selected lenders and brokers who may be able to help.
Our application form takes less than 5 minutes and you should be able to get an decision.
There is no obligation, you can accept their offer, or you can choose to decline it. If the offer meets your needs, funds may be transferred to your bank account on the same day. Please make sure before accepting an offer that you read and agree to the terms of the offer.
LuckyFinance is not a lender but is a licensed credit broker. We have a wide range of lenders available to look at your application. We will submit the information you provide to a direct lender and/or brokers providers. Upon loan approval, a direct lender may require further information from you which will be collected after we transfer you to their website or they may contact you via phone or email. Not all lending partners offer up to £10,000 loans, and not all applicants will be approved for their requested loan amounts. Loan repayment periods vary by lender also.
Please be aware: there is no charge to you for using our service but we may receive a commission or fee for providing your information to our panel of lenders and brokers.

Term of Repayment and APR

The loans offered through lending platform on this website have minimum repayment terms of 1 month and maximum repayment terms of 36 months and not all lending partners offer up to £10,000 loans, and not all applicants will be approved for their requested loan amounts. APR rates range from 45.3% APR to 1575% APR. Your APR rate will be based on your circumstances.

Collection process

We always recommend repaying on time but If you are struggling, or think there is a possibility that you will not be able to meet the agreed repayments, you must contact your money lender as soon as possible to avoid adverse action. They will inform you about their collection process and about any possibility to reschedule or otherwise restructure your loan repayments. LuckyFinance does not engage in collection practices as lenders collect policies vary.

Late payment

Additional interest and/or charges may be applied to your account if your payment is not received on the agreed due date.
Your lender may want to re-assess your financial situation to understand if your late payment was a one off or likely to happen again. Lenders might look to alter your payment schedule if this could help prevent late payments from occurring again in the future. Lenders may also report late payments to Credit Reference Agencies, this could have a negative impact on your credit score and affect your ability to obtain credit again in the future.

Implications of Non-Payment

Additional interest and/or charges may be applied to your account if a payment is missed entirely.
Before you borrow money make sure you fully understand the interest rates, fees and the terms laid out in the loan agreement. If you cannot afford your agreed repayment(s), this may have a negative impact on your credit report and could affect your ability to borrow again in the future. We strongly recommend that you contact your lender in the first instance, they will need to be aware of your change in financial circumstances before they can present alternative methods of repayment to suit you. Collection processes can vary depending on your loan provider. If you do not contact your lender about your circumstances they may pass your account to a third-party collections agency, or attempt to take you to court for non-payment to register a County Court Judgment (CCJ) against you.

Renewals policy

If you wish to renew your loan, please discuss this with your lender in advance. Most lenders will charge the same rate of interest and fees for another month on the entire amount owed. In the event of non-payment, a loan renewal/extension could be automatic and further interest and/or charges may be added to your account.

Disclaimer: The proceeding is general advice only, and is not intended to address your specific financial situation. Please consider retaining independent financial counsel to discuss your individual needs.

97% APR Representative (Fixed)

Representative example: Borrow £1000 for 24 months. Annual interest rate 70% (fixed). 24 equal instalments of £77.48. Total amount to repay £1,859.52. Representative 97% APR. 97% APR Representative (Fixed) APR rates range from 45.3% APR to 1575% APR. Your APR rate will be based on your circumstances.

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