Equifinance Reviews 11

Carried out hard searches before even assessing affordability, effected credit score, poor communication, overall would avoid anything to do with this finance company. Avoid at all costs

If I could leave negative stars I would!

Borrowed 54k, repaid 7k over 12 months, they now want 65k to settle the loan.

I just had a very positive experience with them and FluentMoney. I couldn't get a re-mortgage offer, everybody was just wasting my time. (To be honest low credit rating, but still: I have never missed a mortgage payment, I just had too many credit cards. My case was not that bad.) FluentMoney found Equifinance for me, and they both were very effective, very professional. I can highly recommend them.

have been paying back a loan with this company for 3 years, yet my repayment balance has not gone down. This has caused me serious concern and frustration. I expected transparent information about my payments and the remaining balance, but this has not been my experience.Keep away!

Not a nice or helpful company. Quick enough to take your money but would not let me change my payment date to the first of every month. A change of job means I get payed on the first of every month but was told in no uncertain terms that if I don't pay on my regular date of the 23rd of each month then It will go as a missed payment on my credit file. The fact I have not refused to pay i just wanted to change payment date. The other thing they did say was they can set up a promise to pay arrangement on the 31st which is still no use to me and then pay again on the 1st. So effectively they would be getting 2 months money. Totally unhelpful and patronising customer services and treated me as if I were a child. I would definitely give them a wide birth.

Extremely slow and unhelpful in processing payment holiday request
I contacted Equifinance over two months ago to request a short payment holiday due to financial difficulties. Since then, I have been asked for an excessive amount of paperwork, which I provided promptly. Three weeks ago, they requested one final piece of information, which I supplied immediately — and since then, no update. My next payment is due in just days, and despite repeated follow-ups, I’ve had no decision. This level of service is unacceptable, especially when customers are under financial pressure. I expected more timely communication and resolution.

Had a short term loan from this company. The loan was for home improvements and was taken out over 5 years. Due to a change in circumstances we are now looking to consolidate that, therefore was looking to pay off the loan after 6 months.

The company are still charging the full amount of the agreement despite early repayment. I was aware of early repayment charge, but not the full cost. there is no understanding or empathy that circumstances change no benefit or assistance given by Equifinance. Had the company through a broker. Would not recommend these at all. I would suggest, like i plan to, to never use this company.

Absolute bunch of charlatans with a complete lack of empathy, I nearly died and then my mother died I advised their customer service team 2 days after her death they asked me when I would return to work! Furthermore I am selling the property which Rightmove shows is under offer but they want something from estate to solicitors even though there are no arrears and payments are to date! They are a rip off and don’t bother to check accounts or previous correspondence. Like other reviews avoid at all costs.

If I could give this company 0 I would.

Having recently and very suddenly lost my husband I was able to pay this particular second mortgage off - not our first mortgage and money is very tight. They insisted on charging me an early repayment charge of nearly 3k on top of what I owed them leaving me unable to pay another debt. I complained they wouldn’t budge and claimed it is in their terms but nowhere in any terms does it outline you have to pay upon the death of one of the account holders.

Legally I have no idea where I start but I have made a referral to the ombudsman.

Either way though avoid this company majority of mortgage lenders would have wavered the fees. My first charge mortgage even put me on a better rate and wavered the fees. Kindness goes a really long way and there are lenders out there better kinder and fairer than this shower of rubbish.

Father of a 5 year old boy and made us homeless due to me being ill so was in arrears of a £1000 they got a court summons for repossession I managed to get most of the money but wouldn’t except it and on the date of repossession we was out . Tried to get my goods out of my own house within the 15 days and they kept flogging me off and very poor communication skills to sort it . Don’t not and I mean do not touch these scammers. I’ve reported them to watch dog

I have just had the unpleasant experience of dealing with this company. I made an application with them via a broker. They told that Broker becasue I had COVID through visiting my dad in the stroke ward that I my application was turned down.

As I was dubious about this reason as it was beyond my control I sought second advice from a different broker they said the rejection reason didn’t sound right I sent them the email proof from the first broker.

The second broker approached a regional manager Hannah Messham to review my file, they told the second broker that the first broker never saw the application through for me and that the broker withdrew my application they never declined it! Hannah told the second broker all I had to do was get a letter from my employer saying I was back in work full time and no issues - I got them three letters one confirming I was back in work, another confirming I had a 12% payrise in that same month I had Covid ans another confirming my contractual hours etc.

The second broker submitted my application confident it was going to be accepted as Hannah had approved all my documents. Imagine our surprise to find the application was rejected! When the second broker asked why Equifinance REFUSED saying they had told the first broker why! We wrote back stating that Hannah had advised the first application was withdrawn not declined and that the reason the first broker gave Hanna said was an issue! Again Equifinance refused to say why saying I had told go to the first broker!

I made a complaint to Equifinance and their Compliance Officer responded stating the first broker was wrong it was nothing to do with the absence but that if I wanted to know why I was rejected I was do ask the first broker why as they were told?!! I asked the compliance how was I going to do this when the first broker gave me the reason and she said it was wrong but again she replied “go to the broker”!

I told her I was entitled to an Adverse Action Letter with the correct reason why I rejected, I can’t get this from the first broker as they have it wrong, the second broker haven’t been told why the only people who can give me the decision is Equifinance to date the Compliance Officer has refused. I emailed Hannah Messham who was involved in all of this but she has responded hiding behind the Compliance Officer! I have never known such unprofessionalism when making a loan application it’s the first time I’ve ever been turned down and no one will/can tell me why all three companies are now completely ignoring me so a complaint against all three is going to the Ombudsman which is completely unnecessary all any of them have to do is comply with regs and tell the correct reason I was rejected so I can make changes to improve my chances in the future but none of them want to do this. It’s been stressful and distressing these past two months to say the least and not one of them cares what they have done