What is an instalment loan?
An instalment loan enables you to access money when you are short on funds. This is meant to be a short term solution only. If you are concerned about your finances, or are in need of a long term solution, please seek the advice of a credit counselor.
Is an instalment loan for me?
If used responsibly, an instalment loan can be a great tool to provide assistance during a time of financial need. However, if not used responsibly this type of loan could end up causing an even bigger financial burden. Please refer to the chart below for some examples:
|Responsible Instalment Loan Use||Inappropriate Instalment Loan Use|
|To cover unexpected expenses||To routinely cover your living expenses|
|To relieve a temporary cash shortage||For extra spending money|
|To avoid being overdrawn on your bank and incurring bank charges||To pay off another instalment loan|
Please consider your overall financial situation and circumstances to ensure that an instalment loan will be a short term solution to your financial problem. If you find yourself needing more money every time you repay your loan, this may not be the right option for you.
What can I do to ensure I use my instalment loan responsibly?
Never use an instalment loan for a long-term financial challenge.
Never borrow an amount that you will not be able to repay on your repayment schedule.
Never borrow money from a company that doesn't practice responsible lending.
Never borrow money unless you feel sure that you will be able to pay it back. Otherwise you may incur arrears charges as well as fees from your bank.
If you find that you are taking another loan immediately after you repay the previous one or are rolling over or refinancing loans then you should seek debt advice from one of the agencies listed here. SwiftSterling.co.uk strongly advises against rollovers for the same reason.
Ask questions. If there is any part of the process or fees involved with getting a loan that you are still not clear on please call to speak with a customer care agent.
How does SwiftSterling.co.uk practice responsible lending?
Your credit limit will be based on your disposable income to ensure that you're not borrowing more than you can repay.
SwiftSterling.co.uk sends an automated reminder email three days prior to each scheduled payment. This is to remind you of the pending payment in an effort for you to avoid potential charges from the bank.
When requesting a loan, you can be assured there are no hidden fees or costs.
At SwiftSterling.co.uk we take the utmost pride in ensuring your information is always kept completely confidential. SwiftSterling.co.uk provides customer service representatives available to answer any questions or concerns throughout and after the entire loaning process.
Text the keyword QUESTION to +447478724541
Customer Support Phone
0800 652 0097
020 3781 8296
Payments Team Phone
0800 086 9227
020 3808 3528
Customer Support Email
Payments Team Email
Beechwood House, 2-10 Windsor Road, Slough, SL1 2EJ
Customer Support Hours
*All times listed are in BST
Monday – Saturday 7:30 am until 11:30 pm
Sunday 2:00 pm until 10:30 pm
Payments Team Hours
*All times listed are in BST
Monday – Friday 8:00 am until 8:00 pm
Saturday 8:00 am until 2:00 pm
If you would like to make an additional or early payment on your account please log into your Personal Online account.
Last updated: 22 May 2018
|1.||Who are we?|
|We are a financial services company who provide personal loans to customers in the UK. We operate under the following details:|
| MMP Financial Limited|
2-10 Windsor Road
Slough SL1 2EJ
|2.||How do we collect information from you?|
|We collect Personal Data from you:|
|a)||When you take a service or product from us.|
|b)||When you contact us, or if you have replied to a communication from us.|
|c)||From Credit Reference and Fraud Prevention agencies.|
|d)||A third party who sells your data.|
|3.||What type of information is collected from you?|
|b)||date of birth;|
|4.||What is our lawful basis for collecting this data and why do we need this?|
|In order for us to process your data we have to have a lawful basis to do so. We are relying on the following basis:|
|a)||Consent: you have given clear consent for us to process your personal data for a specific purpose.|
|b)||Contract: the processing is necessary for a contract (loan agreement) you have, or because you have asked us to take specific steps before entering into a contract (loan agreement).|
|c)||Legitimate interests: the processing is necessary for our legitimate interests or the legitimate interests of a third party unless there is a good reason to protect your personal data which overrides those legitimate interests.|
|We have identified these on a lawful basis to assess whether we can provide you with a loan, continue to market to you or manage your account.|
|5.||How is your information used?|
|We use your information so that:|
|a)||We can identify you when you contact us.|
|b)||We can identify accounts, services and products you may have from us.|
|c)||We can offer you other products|
|d)||We can prevent and detect fraud or loss.|
|e)||We can check your information with fraud prevention agencies. If you give us false or inaccurate information and we suspect that there may be fraud we will record this.|
|f)||We can improve your account administration.|
|g)||We undertake marketing analysis and customer profiling.|
|h)||We can continue to market to you with relevant offers.|
|We may also provide you with information regarding the following products and services:|
|a)||Consumer credit that is not high-cost short-term credit.|
|6.||Do you record calls or emails?|
|7.||Who has access to your information?|
|a)||all our staff;|
|b)||third parties including police or government agencies should they request it;|
|c)||if any officials request it for legal proceedings;|
|d)||debt purchasers – if we sell your debt;|
|e)||credit brokers or affiliates – if we sell your data;|
|f)||debt collectors if our loan remains unpaid;|
|g)||solicitors if our loan remains unpaid and we pursue you in court;|
|h)||if our company and all of its assets are bought by a third party your personal data will also be transferred to this third party;|
|i)||a third party if we need to pass on personal data to others so that we can collect debts that are owed, marketing information and customer services;|
|j)||credit reference agencies; and|
|k)||third parties who provided us with any outsourcing administrative services.|
|8.||Which third parties specifically see my data?|
|These companies may process your data based on the above mentioned lawful basis:|
Cross Canada Financial Inc., Financial Conduct Authority, Callcredit Information Group Limited, Soda Software Labs Limited, Credit Resource Solutions, BroadSoft, CashFlows, Secure Trading Limited, Modulr Finance Limited, Axcess Financial Europe Limited, Exact Target Inc., Solutions by Text, Txtlocal Ltd, SessionCam.
|9.||What data do the credit reference agencies use?|
|In order to process your application we will supply your personal information to credit reference agencies (CRAs) and they will give us information about you, such as about your financial history. We do this to assess creditworthiness and product suitability, check your identity, manage your account, trace and recover debts and prevent criminal activity.|
|We will also continue to exchange information about you with CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time. CRAs will share your information with other organisations. Your data will also be linked to the data of your spouse, any joint applicants or other financial associates.|
|The identities of the CRAs, and the ways in which they use and share personal information, are explained in more detail at www.callcredit.co.uk/crain|
|10.||Do you sell data?|
|11.||Why do you sell data?|
|12.||What types of companies might you sell my data to?|
|We may sell your data to the following types of companies who can offer you these type of products:|
|13.||Can I refuse my data being sold?|
|Yes you can. If you do not consent for us to sell your details, they will not be sold.|
|14.||Who do you sell data to?|
|We may sell your data to these companies:|
|15.||Can I change my mind about marketing?|
|There will be an opt-out option on every marketing communication you receive. You may also Contact Us at any time to update your marketing preferences.|
|16.||How can I update and access my information?|
|You may Contact Us via any method to update your information.|
|17.||What security do you have to protect my data?|
|We have a very strict policy on protecting your Personal Data:|
|a)||We make sure we do thorough checks on everyone we work with.|
|b)||We also ensure that you use a secure password to access your account and encourage you to sign off properly when using a shared computer.|
|c)||We use encrypted software.|
|We continually test our systems to see whether it can be penetrated by malicious software and outside third parties looking to steal data. Our regulators expect us to do this to ensure our systems are secure.|
|Cookies cannot be used to identify you personally and are used to improve services for you, for example through:|
|a)||letting you navigate between pages efficiently;|
|b)||enabling a service to recognise your computer so you don’t have to give the same information during one task;|
|c)||recognising that you have already given a username and password so you don’t need to enter it for every web page requested;|
|d)||measuring how many people are using services, so they can be made easier to use and that there is enough capacity to ensure that they are fast.|
|See allaboutcookies.org or www.youronlinechoices.eu to learn more about cookies.|
|20.||Do you buy data?|
|21.||Do we profile your information?|
|We profile your information so we can market products to you that match your interests.|
|22.||Can I access my profile?|
|Yes – You can request the information we hold on you at any time. You can write to us at firstname.lastname@example.org and we will provide you with a copy. You can ask us to amend or erase this data.|
|23.||Can I object to you profiling me?|
|Yes you can, by emailing us at email@example.com|
|24.||What age must I be?|
|25.||How long do we store your data?|
|We store your data for the life of the contract and then up to six years after the last interaction.|
|27.||What are my rights?|
|You have the following rights for your data:|
|For further information in relation your rights visit www.ico.org.uk|
|28.||Will you transfer my personal data to a country outside the European Economic Area?|
|Yes, we may transfer your personal data to a country outside of the European Economic Area (EEA) (including to our associated company in Canada) and can assure you that any transfer made is necessary. The safety and security of your personal data is of the utmost importance to us and we have taken all necessary precautions to ensure your data is protected.|
| MMP Financial Limited|
2-10 Windsor Road
Slough SL1 2EJ
ICO number: Z3027708
Website - Terms and Conditions of Use
Last Updated: 22 May 2018
Please read these terms and conditions carefully as they contain important information about your rights and obligations when using this website (the 'Website')
SwiftSterling.co.uk is a website operated by MMP Financial Limited. We are registered in England under company number 07870321 and with our registered office at Beechwood House 2-10 Windsor Road, Slough, SL1 2EJ.
|1.||Is it safe to access your website?|
|Yes. You can access parts of our website without having to give us your details. However, you are responsible for accessing our website and for anyone else who uses your internet connection. We regularly test the security of our systems so any data you give us is kept secure.|
|2.||Does your website have a copyright?|
|Yes. All trademarks, computer programmes, data, styles and designs etc are owned by us. You are strictly not allowed to reproduce this content.|
|3.||Can I download, print, copy any parts of the website?|
|Yes. You can download or copy the content and other downloadable items, but it may only be used for personal use.You can print one copy of the content again only for personal use.You are strictly not allowed to reproduce, change, copy or distribute any content that will be used for non-personal reasons or passed to a third party for their commercial uses.|
|4.||What are my responsibilities?|
|You must make sure that any of the products, services or information advertised meet your individual needs. Also, using the internet is not always safe, so you have to be responsible for any damage or loss to your computer, equipment, programmes or data due to any viruses etc that may harm your computer, from using our website or downloading anything or any websites linked to ours.|
|5.||How accurate is your website?|
|We try to make sure that the information on our website is always accurate. However, this is not always possible, we will do our best to solve anything that is not accurate as soon as possible but this is not always guaranteed.|
|6.||What if the website is not working properly?|
|We always try to ensure that the website is working at all times. However, we cannot be liable if it is not working properly.|
|7.||Do you change things on the website?|
|Yes. Occasionally we make changes without letting you know. If necessary we can change or stop anything on our website, which could include features, information or the entire website.|
|8.||What am I not allowed to do with your website?|
|•||Upload unlawful, threatening, obscene or other things that are questionable.|
|•||Upload anything that could lead to criminal or civil offences including local, national and international practices|
|•||Break the law using public telecommunications network, disrupt or damage the networks to do with the website or ones linked to ours.|
|•||Use data gathering tools e.g. Robots to take any of our Website.|
|•||Send advertising or promotions that are not allowed.|
|•||Create your own website using our features.|
|•||Attack and add viruses or spyware etc to our website with the intention of causing harm to it.|
|•||Try to get in to our server or any database linked to it.|
|•||Damage or disrupt any part of the website or equipment.|
|9.||What will happen if I do any of the above actions?|
|You will be reported to a law enforcement authority and your identity will be given to them.|
|10.||Am I allowed to link my website to your website?|
|No – unless we have given our express consent to do so.|
|11.||What links are available on your website?|
|Yes, we use them to analyse visits to our site and also behaviour.When you visit our website the pages and Cookies are downloaded to your computer so that we are able to help us to show you better products and also again for analysis to profile visitors.|
Please be aware that we do not store passwords or any other information about you in a cookie that could identify you, your location, your preferences or your financial activity.
|13.||Do you use web analytics?|
|Yes, this site uses SessionCam web analytics service. SessionCam may record mouse clicks, mouse movements, scrolling activity as well as any text you type in this website. SessionCam does not collect personally identifiable information that you enter in this website. SessionCam does not track your browsing habits across web sites which do not use SessionCam services. We are using the information collected by SessionCam to improve your online experience. If you do not want SessionCam to record your visit to our site you may disable cookies on your computer. For information on how to do this you can use the “help” function within your browser or visit http://www.allaboutcookies.org/. Please note that by disabling cookies could affect how our website works for you.|
|14.||What happens if I breach any of your Website Terms and Conditions?|
| You agree that you will compensate, defend and will hold us, and all employees, directors, suppliers and officers, harmless immediately on demand, from and against all claims. This includes losses which could be loss of profit, revenue, goodwill or reputation. These losses could also be costs and expenses, including administrative and legal costs if you breach any of these Terms and Conditions. If this happens any liabilities that arise due to your use of our website or anyone else using our website using your personal information with your permission.|
This section does not affect your consumer statutory rights.
|•||We can change our domain name or anything about our products, services or availability at any time.|
|•||If any of these Terms and Conditions are said to be invalid, by a competent authority, the rest of the Terms and Conditions will still be valid.|
|•||All our contracts are concluded and available only in English.|
|•||This website is controlled and operated in the United Kingdom.|
|•||These Terms and Conditions are governed by the laws of England and Wales. You are agreeing to the laws of the courts of England and Wales.|
If you have any questions about the SwiftSterling.co.uk service you can at any point email us or call us. Below are a selection of questions that we have been asked before that may help you now:
- What is an instalment loan?
An instalment loan is a short term loan that allows you to borrow money over a period of time that suits you. We offer loans from 1 month to 5 months in duration and you can choose the length that suits your needs and the repayment option that meets your financial situation.
- How do Instalment Loans Work?
Use our slider to decide the amount you wish to borrow and the term that suits you. You repay the loan in a number of payments that are equal in amount so that you can budget for your monthly expenditure.
- How do I get an instalment loan?
All you have to do to get a SwiftSterling.co.uk loan is complete our straightforward application form and find out if you meet our criteria. Depending on how much you earn you could be eligible for up to £1,500 (existing customers only).
- What are the requirements for an instalment loan?To be eligible for a SwiftSterling.co.uk instalment loan, you must be:
- Be at least 18 years old
- Currently living in the United Kingdom
- Regularly employed with a net income of at least £667
- Receive your pay directly into your bank account
- Do I need to send in any documents?
At SwiftSterling.co.uk we try to keep things as simple as possible for our customers. We use modern, fast and industry leading online identification and credit checking tools to ensure you don’t need to provide us with any additional details. However, there are certain situations where we cannot verify your details. If this happened in your case, documents may be required in order to complete our underwriting of your loan. If we do ask you for a document, we would urge you to scan and email the document, and we are also working on ways that you can provide us access to independent validation of your bank statement.
- How much can I borrow?
The maximum amount SwiftSterling.co.uk loan is currently £1,500 although this is constantly being reviewed. Your approved loan amount will vary based on your monthly expenses, your net income, and other factors that we use to determine eligibility. It is important that you borrow what you can really afford to repay. First time borrowers are allowed to borrow up to £1000.
- What are the SwiftSterling.co.uk rates?
At SwiftSterling.co.uk we charge you a daily interest on the outstanding principal loan balance at a rate of 0.8% per day. We only charge you for the days you have the loan, so the amount to be repaid that we quote in your agreement is the cost if the loan is repaid on the dates you stated in the application. If you repay earlier the costs will be lower. If you have any questions about the rates or terms of your loan, we’re always happy to help you get answers. To get more information about our rates, please visit our Rates page.
- How long does it take to receive a SwiftSterling.co.uk loan?
Under most circumstances, once your loan request has been approved you will receive your funds within an hour. However, this is dependent on your bank, cut-off times, and holidays.
- How do I repay my loan?
Repaying your SwiftSterling.co.uk loan is simple. All you have to do is ensure that the funds required are available on the dates we have agreed and your account will automatically be debited for the agreed-upon repayment amount. Details regarding payments are fully explained in your credit agreement.
- What happens if I miss a payment?
If you miss a payment or think you are going to struggle to make a payment, we encourage you to contact our friendly payments team as soon as possible on 0800 086 9227 or by emailing firstname.lastname@example.org. We can always make an arrangement to make your repayments as easy as possible for you.
- Will my personal information be safe?
Yes definitely! SwiftSterling.co.uk takes the protection of our customer’s personal data very seriously and we insist on using the highest levels of encryption when handling your information. We are registered with the Information Commissioners Office (Registration number Z3027708) and we take every possible precaution to ensure that we always adhere to the highest levels of security where your personal data and applications are concerned. We want our customers to have peace of mind while using the SwiftSterling.co.uk service.
Daily interest will accrue on the outstanding principal loan amount at a rate of 0.8% per day. Please find the below examples of a typical 5-payment instalment loan where payments occur every 30 days. The total amount of interest charged will vary based on loan amount and total loan term.
| Amount |
| Total Amount|
If £300.00 was borrowed for 140 days at a fixed daily rate of 0.8% (292% per annum), the total amount repayable is £528.30 (5 total payments of £105.66).
1298% APR Representative.