Ferratum

Why choose CashLady as your Ferratum UK loan alternative? Five facts about CashLady

1. CashLady is a credit broker with access to a panel of over 30 active direct lenders.

2. We only work with lenders who are authorised and regulated by the Financial Conduct Authority (FCA).

3. We could help you search for a loan between £100 and £10,000.

4. The lenders on our panel offer repayment terms between 3 and 60 months, depending on the amount of money you apply to borrow.

5. Our credit broking service is free to use, and quotes are no-obligation.

Who was Ferratum UK?

Ferratum UK was a direct lender, offering loans between £50 and £700, with repayment terms from 1 to 4 months.

What is the new name for Ferratum UK?

Ferratum UK rebranded to Ounapuu Ltd in November 2021 and went by this name until it went into liquidation.

Is Ferratum UK still operating?

Ferratum UK is no longer trading. The company stopped accepting applications for new loans during the COVID-19 pandemic in 2020 and was later placed into voluntary liquidation on December 31, 2021.
Paul Boyle, David Clements, and Tony Murphy of Harrison’s Business Recovery & Insolvency (London) Limited were appointed as the joint liquidators.

What happened to Ferratum UK?

The following statement was posted on Harrison’s Business & Insolvency Limited’s website under details of the liquidation of Ounapuu, formerly Ferratum UK:

‘The director of Ounapuu formerly Ferratum has made the decision to place the business into Liquidation due to external factors that have placed financial pressure on the business and its ability to trade through these challenges.
Mindful of ensuring the business satisfies certain threshold conditions and the difficulties associated with raising additional funding in this economic environment, the director of Ounapuu has placed the Company into Liquidation.’

Can I still get a loan with Ferratum UK?

Ferratum UK no longer exists, so it’s not possible to make an application for a loan with them.
If you’re looking for a short-term loan, CashLady could help you search for a suitable Ferratum loans alternative.

How does the CashLady process work?

If you want to find out more about how CashLady could help you search for an alternative to a Ferratum UK loan, this section has you covered.
When you use CashLady’s credit broking service, you can expect the journey to look like this…

Stage one: use the slider on our homepage to select how much money you need to borrow and how long you’d like to borrow it for.

Stage two: next, you’ll be taken to our online form, where you’ll be asked to provide some basic information, such as the loan purpose, your address history, and employment status. This should take around 5 minutes.

Stage three: we’ll complete a soft search on your financial history with no impact on your credit score.* Getting an insight into your financial habits will help us search for a suitable lender for you.

Stage four: speaking of which, that’s what we’ll do next. In just 60 seconds, we’ll scan our panel, and if we’re able to find you a match, you’ll be redirected to the lender’s website.

Stage five: if you’d like to make a full application for the loan, the lender will carry out a full credit check, known as a creditworthiness assessment. If the lender is happy with the outcome of their checks, they will formally offer you the loan.

*While a soft search will not have any impact on your credit score, if you’re matched with a lender and make a full application, a creditworthiness assessment will be completed by that company. This will include a hard search or Open Banking. A hard search will remain on your credit file for up to 12 months, and multiple hard searches in a short period will hurt your credit score.

Could I search for a Ferratum UK loan alternative with CashLady?

To search for a loan with CashLady, you must:

Can I search for a loan with CashLady if I have bad credit?

Yes, you can search for a loan with CashLady, even if you have a history of bad credit.
Many lenders, including several of those on the CashLady panel, understand that past money mistakes don’t necessarily reflect your recent financial circumstances.

Bad credit loans are designed for people who might have struggled with credit in the past. While a bad credit loan could be a real lifeline to someone who needs money to plug a hole in a financial emergency, it’s important to be aware that this type of loan could come with a higher rate of interest.

If approved, when could my money be sent?

Some of the lenders on the CashLady panel could send your money on the same day as your application is approved; however, payout timescales vary between lenders, and the time it takes for the money to reach your account will depend on your bank’s policies and procedures.

What happens if I can’t make my loan repayments?

If you’ve taken out a loan, it’s really important to make your repayments in full and on time each month.
A late or missed repayment will cause your credit score to decline, and you could be charged a fee by your lender.

If you’re struggling to make your repayments, please get in touch with your lender as soon as possible. Don’t avoid the problem in the hope that it will go away; reaching out and asking for help is the first step towards taking back control.
Your lender will really appreciate the fact that you’ve reached out and will talk you through any available options.

I need help with money; what can I do?

Charities and organisations such as StepChange, MoneyHelper, Citizens Advice and National Debtline can provide free, confidential advice on money and debt management.