Moneyboat
As a credit broker, Little Loans are proud to work with a panel of trusted and responsible lenders.
If you’ve used Little Loans to search for a loan and have been matched with Moneyboat, you might be curious to find out a bit more about them. We’ve included some key information below.
Who is Moneyboat?
Moneyboat is a direct lender based in the UK. According to their website, they “want to make the world of short term loans a better place to be. We keep our customers’ needs at the heart of everything we do”.
Moneyboat won Responsible Lender of the Year 2021 - 2022 at the Credit Awards, and was also a finalist in the Technology Awards Technology Team of the Year Award in 2021.
How much money can I borrow with Moneyboat?
Moneyboat offer short-term, personal loans. New customers can apply to borrow between £200 and £800, and existing customers could borrow up to £1,500.
How long do I have to repay my Moneyboat loan?
Your loan can be repaid in instalments from 2 to 6 months.
What Representative Annual Percentage Rate (APR) do Moneyboat advertise?
Moneyboat advertise a maximum APR of 939.5% as well as the following Representative Example on their website:
Borrow £400 for 4 months, 4 monthly repayments of £149.37. Total repayment £597.48, interest rate p.a. (fixed) 255.5%. Representative APR 939.5%.
Is Moneyboat regulated?
Yes. Moneyboat is a trading name of Evergreen Finance London Limited. They’re authorised and regulated by the Financial Conduct Authority and can be found on the FCA register here.
What sort of reviews do Moneyboat get?
As of May 2024, Moneyboat is rated Excellent on Trustpilot, scoring 4.9 out of 5 stars. They have over 11,600 reviews, 89% of which are 5*.
Little Loans have matched me with a Moneyboat loan – does this mean that I’m guaranteed to be accepted?
No. You will need to make a full application directly with Moneyboat for them to assess your affordability and provide you with an outcome. At this stage, you will also be required to undergo a hard credit search.
Please be aware that hard searches will remain visible on your credit file for up to 12 months and too many hard searches in a short space of time could have a negative impact on your credit score.
I’ve been accepted for a loan with Moneyboat – what happens next?
If you’ve passed Moneyboat’s affordability checks and they are happy with the outcome of your hard search, you will be sent a loan agreement. You should take the time to read through the agreement carefully and, if you’re happy to proceed, you can sign and return it the same day.
How quickly can Moneyboat send the money?
If approved, Moneyboat could send your money within 15 minutes. The time it takes for the money to appear in your account will depend on your bank’s policies and procedures.
Can I repay my Moneyboat loan early?
Yes, you can, and Moneyboat does not charge any early repayment fees.
Can I apply for a second loan with Moneyboat?
You cannot apply for a second loan with Moneyboat until your existing loan has been repaid in full. If you are eligible to apply for another loan with Moneyboat, you’ll still be required to make a full application and undergo affordability checks.
What happens if I miss a repayment?
Moneyboat does not charge late fees for up to three days after the scheduled date of repayment. According to the website, Moneyboat will attempt to contact customers to talk through the reason behind the missed payment. They also state the following:
If Moneyboat’s attempts to make contact are unsuccessful and the repayment remains unmade, your account could default. Moneyboat will then proceed with their next steps to recover the outstanding balance of the loan.
I have a question regarding my loan; should I contact Little Loans or Moneyboat?
Little Loans is a credit broker. We’re more than happy to help you with any queries relating to the initial eligibility check and loan search carried out on our site, but any questions you have about your loan will need to be directed to the lender.
How can I get in touch with Moneyboat?
You can contact Moneyboat:
- By phone: 020 3818 7470*
- By email: thecrew@moneyboat.co.uk
- Via the online form: https://www.moneyboat.co.uk/contact-us/
- In writing:
3rd Floor Newman Flexible Workspace
2/2a Newman Road
Bromley
Greater London
BR1 1RJ
*Phone lines are open Monday-Friday, between 8am and 5pm.
Where can I find out more about Moneyboat?
Further information about Moneyboat can be found on the website, which contains a useful FAQ page and an interesting selection of blog articles.
I’m worried about money; what can I do?
We completely understand how daunting money worries can feel, but reaching out and asking for some support is the first step towards taking back control. So many of us will experience money worries in our lifetime, so it’s important to remember that help is available.
You can access free, impartial money and debt management advice through various charities and organisations, such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.
This article was edited in August 2024; all information was correct at the time of writing.
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Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender