I have had a reply from the FSA. Sure Thing Loans, do not come under the FSA remit, they don't have to apparently.

This is what the person at the FSA advised.

Loans fall within the remit of the Consumer Credit Act (CCA). The CCA requires that most businesses that lend money to consumers be licensed by the Office of Fair Trading (OFT). The OFT is a government body that ensures that firms are fit to hold licences. You can find more information on the OFT's role at www.oft.gov.uk.

 This type of product does not fall within the FSA's remit.

huckster 

Kerrybluebird

I am very dubious as to whether Sure Thing are acting legal and compliant fashion. They are not authorised and regulated by the FSA when they are acting as a loans broker for companies that come under the FSA. I thought all companies operating in the UK offering any financial related service had to be registered with the FSA.

Your family member should think about reporting this to the Trading Standards http://www.tradingstandards.gov.uk/ as I believe the Sure Thing website cannot be compliant with UK regulatory standards. They should get some advice about what to do next, perhaps Citizens Advice, so things do not get any worse. http://www.citizensadvice.org.uk/

I have sent the FSA an e-mail to draw their attention to this as I believe they should be interested in the way these companies operate.

huckster

kerrybluebird - Companies such as these do not take much notice of codes of practice, laws, decency, morality.. or want to have any understanding of how their actions affect peoples lives, all they want is money......she can expect absolutely anything now that she has parted with some money upfront. !

i did try but she had already done the bank transfer and she couldnt claw it back especially as the company used the same bank as her it went straight through. i did say i had been avised on this site not to do it but she alreay had. so now im trying to see if they have any right to now say she needs a guarantor when they have already sent her the offer by email and it didnt even say the offer was in principal

Oh yes, the runaround starts from now.

Shame you didn't speak to the family member before.....rather than after....... coincidence that you were both interested in this shower at the same time though. !

http://www.moneysupermarket.com/community/forums/t/should-i-pay-an-upfront-loan-fee-36604.aspx

can anyone please advise i was going to go ahead with this company for a loan but after advise decided not to, but a family member has gone ahead with theres now the loan comapny sent an email stating the loan amount requested .the mthly payments and the loan period all confirmed. but the family member sent the process fee of £39.99 yesterday and they recieved an email back today saying they have recieved the money but now they would need a guarantor or the loan will have to be passed back to the broker and a higher interest charge would be added to the loan.

can this be done as they have already sent an email out confirming the terms of the loan

thanks