Simply Lending review (formerly Simply Adverse)

Simply Lending is an online-only mortgage broker service, which helps UK residents with poor credit find the best mortgage for their needs.

It can be difficult to find bad credit mortgage lenders on the high street, and even after you do to discover the best deal for your situation.

That’s why it can help to work with the expert brokers at Simply Lending who specialise in finding mortgages for people with any form of bad credit. The company has been helping UK residents in this situation for close to a decade.

Its service is initially fee-free. You’ll only pay if you decide to proceed and complete your mortgage.

Simply Lending | Bad Credit Mortgage Brokers

• No upfront fee
• Whole market broker
• Access to exclusive rates
• First class support

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How does Simply Lending work?

Simply Lending says that it can help UK residents dealing with any type of adverse credit. If you’re dealing with bankruptcy, CCJs, an IVA or debt management plans, Simply Lending may be able to help you.

On its home page, the broker invites you to take a short quiz to see if you are eligible to work with its brokers. In this two-minute quiz, you’ll be asked what type of property you’re looking to buy, when you are looking to buy it, as well as some questions about your financial situation and your personal details.

After that, you’ll be asked to arrange a free no-obligation call with a Simply Lending broker. On this call, your broker will work with you to find the best possible deal for your needs.

You won’t pay a penny to Simply Lending, unless you choose to go ahead with its recommended mortgage and receive a mortgage offer. At that point, you’ll be charged a flat-rate of £1,995.

Is it safe?

Simply Lending is authorised and regulated by the Financial Conduct Authority (FCA) and is therefore subject to the same regulations as all financial companies across the UK.

Are there alternatives?

There are lots of other fee-free online mortgage brokers available to choose from, although these compare the whole market, rather than specialising in bad credit mortgages.

These brokers include:

• Better. This broker compares thousands of mortgages from over 90 lenders to help you find the best deal for your needs. Better’s brokers will manage your mortgage application for you, and you can track this through the website’s online timeline.
• Habito. Habito searches through 20,000 products from more than 95 lenders. Its intelligent algorithm shows you the true cost of what you can borrow within a few minutes.
• Dashly. Online mortgage broker (mobile app coming soon) that helps you compare mortgages and find a deal to suit your needs. On top of that, it will alert you whenever you can save money by remortgaging.

Pros of using Simply Lending

• Simply Lending brokers specialise in working with customers who have bad credit.
• You can get advice from Simply Lending brokers for free. You’ll only pay a fee if you proceed and receive a mortgage offer.
• Simply Lending works with all the major lenders that offer bad credit mortgages.
• The fee is a flat rate (£1,995), no matter how big your mortgage is.
• Flexible contact team avaliable Monday to Saturday (Monday – Friday: 9am to 9pm, Saturday: 9am to 5pm)
• You begin with a simple and quick online questionnaire to test your eligibility.
• You could be eligible for a mortgage, even if you have suffered from bankruptcy, CCJs or an IVA.
• Simply Lending is regulated by the Financial Conduct Authority.

Cons of using Simply Lending

• Only specialisies in bad credit mortgages, not whole-of-market.
• £1,995 flat-rate fee is quite high.

Our verdict

There are plenty of online mortgage brokers out there, but not so many that specialise in bad credit mortgages. Someone in this situation may appreciate working with a specialist, which is where Simply Lending can step in.

Frequently asked questions about Simply Lending

• Is Simply Lending free?

  You won’t pay a penny, until you proceed with a recommend deal and receive a mortgage offer. At that point, you’ll be charged a fee of £1,995.

• Will Simply Lending work with my personal situation?

  Simply Lending works with customers that have all types of adverse credit. You’ll fill out a short online questionnaire to see if you’re eligible for a deal.

• How will Simply Lending contact me?

  You’ll be asked to share your phone number and email address, once you complete the Simply Lending questionnaire. The broker may contact you through either of these methods.

Written by

Matthew Boyle

Publisher

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Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio

Matthew's expertise

Matthew has written 210 Finder guides across topics including:

• Helping first-time buyers apply for a mortgage
• Comparing bank accounts and highlighting useful features
• Publishing easy-to-understand guides