I was put through to Magic Loans by a company called Churchwood? I have had never heard of either Churchwood or Magic before but as i have already been refused for several loans already and had already paid a deposit of £500 on a 10k car i hadn't much choice and welcomed the calls. I found Churchwood very helpful, although they weren't able to help me they put me through to a Loan Advisor at Magic Loans? I found the way that application was handled was very clear and they told me they were a Master Broker and NOT a Search broker so i didn't have a issue with paying my fee of £69.99. I think that if i had read these comments before i probably wouldn't of gone ahead based on the information provided on here but i don't think these posts do Magic Loans any credit? You pay a fee for them to process an application for you and put you in touch with a lender to help you? They did exactly what they said they would and 10 days later i had 10k in my account through one of there lenders. I have sent a letter to Magic Loans thanking them for their professional and clear approach as i had bad experiences in the past with SEARCH brokers. If it wast for them i would of lost my £500 deposit and they were able to help me when no one else would!

reanamed vanish finance thy managed to to take more than 69.99 +49.99 and they cant see it on there computer

so contacted ombuds man told my bank they investigated told them it was admin fee now thats a new one on me

apparantly when u give youre card number to a firme u have a contract and thy can take as much as they want out because its based on trust or in this case downrite robbery but dont worry now the gloves r off see my name

thyre going down big time the bbc did a feature on f m l loans doing the same scam and thy had to give the money back i allwayz thought dick turpin wore a mask

I am disgusted in your reply Magic Finance.

These searches will confirm the accuracy of the information you have provided. Unfortunately not all customers disclose fully their circumstances which can result in issues after their initial application.

Please tell me!!! Are you suggesting that the reason I didn't get my original loan offer is I was untruthful? If so why was I offered an alternative with double APR? I take great offence to this statement.

If you are not happy with the service you have been provided or feel that you are entitled to a refund please contact our customer services department on 0800 9880187: or email support@magicfinancegroup.com and your case will be dealt with within 30 days of receipt of your

I sent an email 25th November 2009 and have made numerous of phone calls and all I get is excuse after excuse. One of the latest from [your] Customer Care Manager her boss was off ill and only she has access to the cheque book. That was over 6 weeks ago and STILL NO REFUND.

We are aware however that telephone waiting times are longer than we would like at times which can result in customers not being able to get through.

It has been impossible to get through the Customer Care even when you get through to the answer machine and leave a message they promise to return your call in 2hrs they never do.

We hate to see some of the comments posted on this forum especially some which are clearly not constructive nor informative for some of those attempting real research about Magic Finance Group

The reason I am personally posting here is because of the way I have been treat my Magic finance. Most people are desperate when they apply for a loan and taking £69.99 off them and holding onto it for over 5 months is despicable in my eyes and I actually do find it informative to other customers to relay my experience. Believe it or not I do have better things to do with my time.

I know I can send off relevant forms to get my money refunded but why should I have to spend more money on registered post etc I WANT TO SEE MAGIC FINANCE DO THE RIGHT THING AND REFUND MY HOLDING FEE. Is that too much to ask?

Taking any upfront fee in the first place is even worse, if the loan is succesful ...only then should a fee be deducted. !

One has to question why a fee is required upront at all and the intention of it's purpose, 'if the company can do what it says on the tin', by placing a loan as applied for by the client.

Where it fails to secure the loan then nothing would have to be returned, ending the frustration and annoyance of people having to jump through hoops to secure the refund of their fees......or is the true motive to really keep the money if people don't shout loud enough.?

Magic Finance Group - Here's a bit of constructive criticism for you to take onboard. If you hate to see some of the comments on this and other forums regarding your practice...then follow the sound advice above and stop charging upfront fees to anyone. That would make life easier for yourselves and especially for the vulnerable people who cannot afford to outlay these upfront fees.

"your case will be dealt with within 30 days of receipt of your enquiry"

If you think this is a fair period to hold onto someone's cash, think again.

You deal with people who really are struggling to get a loan. Keeping their cash for so long, if you cannot place their loan is scandalous in my view.

Dear customers,

Magic has seen your comments posted on this Forum and feel that we need to do something to respond to these.

Magic Loans processes in excess of 20 million pounds worth of loan applications every month and in the most part our clients value our services and are happy with the products they receive. Unfortunately in some cases of course we get it wrong and for those that haven’t had what they feel is a good service we are sorry and will deal with your complaints in full if you contact our customer services team.

The fee we charge our customers is based on an acceptance in principle that we receive from our lenders further to the information that you have disclosed to us as your broker. This is clearly explained on the phone by our agents and is subject to fraud prevention and credit searches if required by the lender. These searches will confirm the accuracy of the information you have provided. Unfortunately not all customers disclose fully their circumstances which can result in issues after their initial application. All the above terms are confirmed immediately by email to our customers (subject to us having an email address) and an application pack is sent out in the post within 48 Hours direct from us which again confirms our process.

We do our best to find the most suitable loan in the market place today for our client’s particular set of circumstances. All clients who are not offered a loan and have paid a fee are entitled to a full refund. If you are not happy with the service you have been provided or feel that you are entitled to a refund please contact our customer services department on 0800 9880187: or email support@magicfinancegroup.com and your case will be dealt with within 30 days of receipt of your enquiry. We hate to see some of the comments posted on this forum especially some which are clearly not constructive nor informative for some of those attempting real research about Magic Finance Group. We are aware however that telephone waiting times are longer than we would like at times which can result in customers not being able to get through. We are working on improving this and will also be launching a customer services web portal in the near future which will allow customers to submit enquiries with guaranteed replies within certain periods.

We hope this will help.

Hi, what happened to you in the end regarding your loan application (if you dont mind me asking). did the paperwork come through with a higher interest rate than quoted or was it all above board? If not, did you ever get your holding fee back?

All I can say is good luck.

I am still waiting for my refund. I have lost count how many times I have spoken with Alex (customer care manager) and the excuses are just unreal, latest been her manager is unwell and only she has the cheque book but then when I rang her a week later another excuse. She has promised me time and time again that she will deal with it. Still waiting!

Hope it all works out for you

Collette

I have not read about anyone obtaining the loan they were promised.

These companies promise loans and then you don't hear anything. From what I understand, these loan brokers have up to 6 months to find a loan. The people you speak to on the phone don't explain the process as all they are interested in is the commision for signing up a customer to pay a fee.

If they don't provide the loan within the timescale promised on the phone make a complaint and ask for the fee back minus the £5 they are allowed to charge. Send any complaint in writing by recorded delivery.

"The Consumer Credit Act limits a credit broker's charges to £5 if, following an introduction to a lender, an agreement is not signed within six months. If more than that has already been paid, brokers must refund the excess on request. This section of the Act ensures that brokers are only entitled to a nominal fee if they are unable to obtain credit or hire facilities at a price the consumer is prepared to pay".

Hi there, i have only just applied for a £6000 loan tonight with Magic Finance company, after reading all of these posts i am really scared an aprehensive to what might happen next.... did you actually get the loan you applied for, and are the a fully professional company you feel you can trust? please get back thanks lws90.

I had the 30 day sketch, this is then followed by the 30 working day sketch, this is then followed by the 14 working days for the refund to be issed. This is followed by computer problems.....the list goes on.

Lodge a complaint with consumer direct and email Magic Finance with a copy of the complaint. Copy it in to Enhance finance they are one and the same. The staff wont tell you who they are .... ...I finally got a cheque at the weeked after nearly 5 months badgering!!!

These guys are a joke......

good luck

STAY WELL CLEAR OF MAGIC FINANCE

I applied for a loan in Agust and was accepted with a reasonable Apr rate of 10.9% (thought it was the solution to all my problems) Then I was asked to pay the holding fee of £69.99, Of course I thought What's the catch???? but after a lengthly conversation with one of the sales team I was assured that the only way I wouldn't get that refunded to me is if I refused the original offer. All I had to do now is send off a bank statement and ID. Great!!!

A few days later I got a letter from a Co offering me half the money with an Apr 50.?% There is no way on this earth I would have accepted that offer. I tried to contact Magic Loans on the number given to me, left numerous of messages and after 2 weeks still nothing. Eventually, I got through to Customer Care via the sales team but believe me this was not easy. I explained my situation, I even asked them to listen to the original telcon but I got the impression they were used to this and really couldn't care less. I did what they asked and emailed them to ask for my refund....thought that would be the end of it. Another 2-3 weeks went by and again the same problems trying to contact them and was then told I would have to wait 30 days ....Why did they not tell me in the first place. I was promised I would hear from the refund department 30 Dec. GUESS WHAT I'M STILL WAITING.

Thank you conmankiller, I now have the relevant letter and will be sending it by registered post.

Magic Finance....My A***

ripped off by Magic Finance - Any ideas for my refund will be greatly appreciated.

Read my post 2nd down in this thread, it tells you the appropriate consumer legislation to quote and the process to secure the return of all but £5 of your money.

DO NOT USE MAGIC FINANCE

Took my £69.99 in November - told me i had to write in for a refund, told me i had to wait 30 working days for the refund, when this had expired they then fed me some crap about having to wait a further 14 working days for the money to be credited to my account. That expired last Friday they are now trying to tell me they are going to write to me with details of my refund

Liars - Any ideas for my refund will be greatly appreciated.

DO NOT USE MAGIC FINANCE GROUP

Could everyone please visit the Loans section of the Discussion board on Magic Finances facebook site......you will find out just what sort of company (and I use the term very loosely) they are .............