WCL submits its FCA application for full permission

- by Kelly Richards
August 25, 2015 02:00 AM Eastern Daylight Time

LONDON–(BUSINESS WIRE)–Western Circle Ltd WCL submits its FCA application for full permission authorisation by the Financial Conduct Authority as a move towards trying to become a leading UK lender.

“After a lot of work and review, we have submitted our application for a full permission. Our aim is to become the most affordable, transparent, and friendly short term loan provider in the UK.”

Western Circle Ltd (WCL), a London-based lending company trading as Cashfloat.co.uk, has confirmed that it has submitted its application for a full permission to enter into High-Cost Short Term Credit (HCSTC) agreements this month. A full FCA permission will strengthen the company standing in the financial market, as well as allow them to carry out the rights and duties of a responsible lender in HCSTC agreements.

“After a lot of work and review, we have submitted our application for a full permission. Our aim is to become the most affordable, transparent, and friendly short term loan provider in the UK. ” says Jeremy Lloyd, a WCL representative.

Western Circle currently holds an Interim FCA permission. In fact, most lenders in the UK still operate under an interim permission. However, this revolution of new lenders obtaining a full permission will certainly change the dynamics within the market.

Western Circle continues to offer affordable loans online through its trading style, Cashfloat.co.uk. “The entire business model, including the loan products and corporate culture of WCL, is built around our customers’ interest. Treating Customers Fairly (TCF) has been applied to every aspect of the company’s activities,” says Ofer Akerman, partner at WCL.

Western Circle now awaits the FCA’s assessment of its application.

About Western Circle Ltd:

Western Circle Limited is a technology and data driven lending company. The company develops and integrates technologies to enable affordable loans online under the new FCA regulations. These technologies include underwriting expert systems, online loan intelligence analytics, and proactive compliance management systems. WCL has already helped over 4000 people in the UK alone to obtain affordable loans online, via its trading style http://www.cashfloat.co.uk. Western Circle Ltd aims to reinvent the science of affordable online loans, and make this helpful and responsible financial instrument accessible to all clients across the UK.

About The Author
Kelly Richards
Kelly Richards is the founder of the Cashfloat blog and has been working tirelessly to produce interesting and informative articles for UK consumers since the blog's creation. Kelly's passion is travelling. She loves her job because she can do it from anywhere in the world! Whether inspiration hits her while sitting on the balcony of a French B&B, or whether she is struck with an idea in a roadside cafe in Moscow, she will always make sure that the idea comes to fruition. Kelly's insights come from her knowledge gained while completing her degree in Economics and Finance as well as from the people she meets around the world. Her motto is: Everyone you meet has something valuable to teach you, so meet as many people as you can!
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Cashfloat is rated 4.82 stars by Reviews.co.uk based on 621 merchant reviews

4.82 / 5 Rating
621 Reviews
Thank so much. The online form was very simple to complete. The service was swift and painless. Regards
Quick and easy, no hassle advance. Great service
Mr Thomas C
Easy to apply but unfortunately high interest rates, although needs must
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Cashfloat is a trading style of Western Circle Limited - Company Registration Number: 7581337. We are fully authorised and regulated by The Financial Conduct Authority. FCA full permission license: 714479. ICO Registration Number: Z3305234

* Cashfloat terms and conditions apply. Applicants must be 18 or over. All loans are subject to affordability, applicant verification and traditional credit checks via various national databases by Cashfloat responsible lending policy. In most cases, loan decisions may take up to 30 minutes during office working hours. If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 16:30.

Representative example: Borrow £900 for 7 months. 1st monthly repayment of £187.92, 5 monthly repayments of £250.56, last monthly repayment of £125.27. Total repayment £1,565.99. Interest rate p.a. (fixed) 198.72%. RAPR 529.09% Our APR includes all applicable fees. Daily interest is capped at 0.74%.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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