A newcomer to the short term loans market, Tick Tock Loans says its “personal touch” is what sets it apart from its competitors. It puts an emphasis on “manual underwriting”: rather than a computer deciding on your loan, a personal account manager considers your application on an individual basis.
Interest rates vary depending on your ability to pay and your employment status. Make sure you always take the time to understand what the exact terms are that you’re being offered before you agree to a loan.
If you are approved for a credit facility with Tick Tock Loans, it acts as a direct lender (not a broker). Tick Tock Loans is authorised and regulated by the Financial Conduct Authority.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
| Product Name | Tick Tock Loans Short Term Loan |
|---|---|
| Available Amounts | £300 to £1,000 |
| Representative APR | 1,297.93% |
| New customer maximum | £1,000 |
| Loan terms | 3 months to 6 months |
| Maximum APR | 1,250% |
| Soft search eligibility check | |
| Employer contacted during application | |
| Funding speed | Once approved for a loan, Tick Tock Loans says that you can expect the money in your bank account within a few hours. |
| Repayment period options | Monthly |
| Default repayment method | Direct debit or Continuous payment authority |
| Repay early at any point | |
| Parent company | Savvy Loans Products Ltd |
| FCA registration number | 718888 |
You have 2 options for repaying your loan:
A CPA is a recurring payment in which you give a company permission to withdraw money from your account whenever it wishes and to take payments of different amounts without consulting you. Most short term lenders like Tick Tock Loans use CPAs to collect your repayments. However, you can cancel this at any point by either contacting your provider or your bank.
You should only apply for a loan through Tick Tock Loans if you are certain you can meet the repayment terms. You must also meet the following criteria:
| Residency | UK resident |
|---|---|
| Minimum age | 18 |
| Additional eligibility notes | You must have a UK bank account. You must be legally capable of entering into a binding agreement. |
They additionally capped all default charges at £15 and the total cost of loans (interest and fees) at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.
These loan companies could offer a comparable alternative to Tick Tock Loans.
| Name | Established | Loan types | ||
|---|---|---|---|---|
 |
Tick Tock Loans Short Term Loan |
2014 |
Instalment loans |
|
 |
Lending Stream Instalment Loan |
2008 |
Instalment loans |
|
 |
Moneyboat Short Term Loan |
2011 |
Instalment loans |
|
 |
QuidMarket Short Term Loan |
2011 |
Instalment Loans |
|
 |
Conduit Short Term Loan |
2012 |
Instalment loans |
| Repay early at any point | |
|---|---|
| Repaying early can reduce overall interest | |
| Phone number | 0203 743 8668 |
On Trustpilot, Tick Tock Loans reviews are mixed. Overall, Tick Tock Loans sits at 2.2 stars from 45 reviews, which Trustpilot deems “Poor” (updated February 2024).
5-star reviews said they were impressed with the efficiency and speed of the service. However, 1-star reviews point out slow and negative customer service experiences.
You can contact Tick Tock Loans by phone on 0203 743 8668 or by email at customerservice@ticktockloans.com.
Tick Tock Loans could help you with unexpected expenditures if you have a poor credit score and are struggling get a traditional personal loan.
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