New Unsecured Loan program offering up to £5/lead

[Dave ADM]

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Hi Everyone,

Have you noticed how market prices for unsecured loan enquiries have been falling recently across numerous affiliate programs and networks? And rejection rates have been increasing too. A huge amount of value has gone from this market recently.

If this tend has affilicted you then I'd like to offer you some good news - we've just launched a NEW Unsecured Loan program that offers up to £5/lead commission WITH NO LEAD VALIDATION AND NO LEAD REJECTIONS - GUARANTEED.

We call this program Phone for a Loan - all the details are available at www.phone-for-a-loan.co.uk/affiliate-program.htm.

The scheme also has some great points of difference meaning it can easily be run in parallel with other loan programs you may already be running:

- Same day payouts of up to £1500 (and up to £25,000 available if enquirer can wait a little longer).

- Phone-based, meaning that there are no online forms to be completed.

- No credit checking, so people with bad credit can still be helped.

- Tenants, not just homeowners


The program went live on June 26th and take up is very good. BUT, we've only got 200 unique phone numbers to start with, so if you don't sign up quickly you could miss out. Join today at www.phone-for-a-loan.co.uk/affiliate-program.htm

Good Luck

David

[p3t3]

Well, it's certainly an approach I haven't seen before!

Can you give us any idea of the average phone call length? I notice it says "a maximum of 15 minutes", giving the affiliate a maximum of £5 (@33p/minute)

Cheers,
Pete

[drivetowin]

Just a little note that the £5 is inclusive of VAT so the commission is really only £4.26 per lead.

[simonb]

This type of thing makes me wish the loan industry was regulated.

"*Refund policy applies - refund is at standard BT rate and we cannot refund additional network charges. Copy of relevant bills required. As we try to find a loan for you for a six month period after your initial loan application calls will be refunded after this six month period. £5 will be deducted from the total refund value for administration purposes."

Calls cost £1 per minute max 15 mins so that £15. When they can't find you a loan they will refund you at standard BT rate so thats 15 X 5p = 75p refund. Minus an admin fee of £5 so that will be a refund of nothing then in every case. Surely a more fair refund policy would be "No refunds ever"

[drivetowin]

Must admit I didn't read that bit the way you did - I read it as they would refund the £15 (less the £5 admin fee) but would not refund extra charges, i.e. if you were on a non BT network or a mobile and the cost was more than £1 per minute for you - would be good if they could clarify which of our interpretations (or neither of them!) is the correct situation.

[simonb]

oh yes - see what you mean. Maybe i'm wrong. Wouldn't be the first time
Still doesn't seem like a good deal for the consumer.

[Dave ADM]

Dear All,

Having read the responses posted so far let me update you and clarify things.

The use of premium rate numbers is fully regulated by ICSTIS and the wording on the site is that which is demanded by ICSTIS. The Phone for a Loan site also explains why the use of a premium rate number is used - Phone for a Loan believe that ultimately the enquirer will get a better overall service (no waiting for call backs, or no call backs at all) than by using an online form - the stories of people making online enquiries (with their details going off into the ether) and never hearing from anyone are legion. Being able to call someone, not wait, and to sort out the loan they need immediately is better service, especially if the need is urgent.

Thanks for raising the question of the refund. The phrase "standard BT rate" means in this instance £1/minute - we will clarify this on the site today. Again, the refund policy has to comply with ICSTIS regulations. Under these regulations Phone for a Loan has the right to keep back £5 of the call charge
to cover its costs, but these tend to be negotiable with the enquirer.

The overall cost of obtaining the loan is likely to be cheaper this way that via the other route whereby online brokers/lenders sometimes charge upfront fees - often £50 or more. And the fee Phone for a Loan charges needs to be viewed against the high quality of service that the enquirer will receive.

In terms of the average call length this is currently running at 12 minutes. As we mention with this service every minute of calls counts though - it's not a case of all or nothing, as with online enquiries.

We believe that the Phone for a Loan service meets a genuine need for urgent loans, and it does it in a very open and honest way. In terms of affiliates this service can neatly fit within an overall unsecured loan strategy - it is a discrete offering, providing the affiliate with better than average returns, and with very clear points of difference.

I hope this answers people's questions. If you have more please do come back to me.

Best wishes

Dave