Tenant Loans / Tenant Loans Online

Well what I can I say.

My sister needed a loan for £2000 in order to clear some debt. She owns her house and did not want to secure anything to it. So she gave this company a call. She then paid £49.95 as a broker fee and was given a monthly repay,ment fee of £59.00 per month. When she received the paperwork for a loan it stated she needed a guarantor AND the repayment was £90 instead of £59. She queired this with Tenants and was told she would not have been told a repayment figure, even though she had the conversation recorded to prove otherwise. On telling the lady she was speaking to this, she told my sister she had no agreement from her to recorde the conversation. My sister told her she had no guarantor and was not patying £90 per month for 36 months for a loan of £2000. The customer service woman told her a new search would be done for her.
In the mean time my sister came to her senses and realised she was about to lose £49.95. I wrote her a letter to send to them, giving them 4 days to repay the money minus the £5 they are entitled to keep in accordance with OFT or she would make a formal complaint to OFT. She received a cheque for the correct amount 3 days after it was received by them.
Please please do not be taken in, I have since researched this company on other boards and this is a regular occurance and many people are losing their money. Dont let it be you!