BORROWERS could lose hundreds in cash due to loan fee fraud this Christmas, the financial regulator has warned. The Financial Conduct Authority (FCA) receives hundreds of complaints from borrowers …
"Unfortunately, this is where loan fee fraud scammers and illegal lenders see an opportunity."
And if you are considering taking out a loan, please pause and check the FCA’s Register to make sure you are dealing with a legitimate lender.Here are some warning signs of potential loan fraud, according to the FCA: It is also necessary for you to reply to the notice acknowledging that you have received it, and confirming that you are aware of its contents.
You can check which loans you’re most likely to get without damaging your score by using an eligibility tool such as the one on Compare The Market or MoneySavingExpert.com.
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