1+1 Loans has a very bright and cheerful website. They proudly display an “as seen on TV” picture, so I guess they do advertising on TV.
They seem to only offer Guarantor Loans and they charge an industry average 47.8% APR fixed. You can borrow up to £10,000 if you have a guarantor. They have a nice little calculator so you can work out how much a loan is going to cost you.
When I tried out the calculator, I said I wanted to borrow £5,000 over 60 months (5 years). It told me that my monthly payments would be £190.63 and that means that I would pay £6,437.80 in interest and fees. So in total, I would repay £11,437.80 over 5 years.
It is a very high-interest rate considering they have the loan guaranteed by someone other than the borrower.
They use a company called FeeFo for its reviews and on this site, they have a feedback rating of 4.8/5. Having read the reviews I have to say that the only review they have that is a 1 out of 5 was an unfair review. The borrower was being questioned by a 1 plus 1 agent who was just doing their job. That review should be ignored.