Wonga Review - Read This To Understand The Features Of This Popular Short Term Loan Provider

Wonga is one of most well-known short term lenders operating in the United Kingdom region today

. They have launched a very well-executed marketing, becoming visible and noticeable, especially with commercials on television at the prime time. Our Wonga review intends to give you a closer idea of the kinds of advantages and benefits they offer.

There are other things that they get right as well, though. Their business model is a completely new system that they have come up with and this is a strong benefit that they have which the other lenders don't.

They have a good and strong reputation as they have a track record of around 3 years. The company was started by Errol Damelin and Jonty Hurwitz who both have also been involved with various investment capital companies.

They have spent a considerable amount of time before the launch of the company in 2007 to create a very user friendly website. Unlike any others you find today when it comes to Wonga choosing how much you can borrow is through using their loan slider tool". Simply move the bar on the slider along to not only decide how much you want to borrow but also how long you wish to borrow it for.

After this you click a button, wait for a short time and the website will come back to you with the numbers. This way you will see exactly how much you have to pay back and also the deadline you have to stick to.

As is usual in this industry, the loan amount available for first-time borrowers is actually lower than for regular customers. This number is 200 pounds with Wonga, placing it among the more conservative lenders. They do need to see some trustworthiness before they give you access to the maximum amount, which is 1000.

Another thing separating them from the norms of short term lenders is that their interest calculations are daily. So for every 100 that you borrow, the interest will figure out to be around 1 per day. So with a 30-day term you will have to repay 136.

Having read this Wonga review, you will probably now have a better idea of what this loan company is about. This article is sponsored by the Which Payday Lender site.

by: Brian B Smith

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