New Merchant - Yes Loans

**Andrew Copeland** · 10-10-07

Please join me in welcoming Yes Loans onto the Webgains network. The program looks set for great things over the coming months.

A bit about Yes Loans...
They are the UK's largest arranger of Unsecured Loans with a 35% share of the UK unsecured loan market. Their loans do not require any collateral to be secured against the loan, which makes us appealing to all applicants.

Yes Loans arranges unsecured loans for both homeowners and tenants, whatever their credit history. They can even arrange loans for students and people living with their parents. They specialise in helping those that have been refused by high street lenders and those suffering with credit difficulties such as CCJs, defaults or mortgage arrears.

Our conversion rates are some of the best in the business at over 25%.

Proactive merchant
In order to maximise online leads and create transparency of lead generation for our affiliate partners we do not show our call centre telephone numbers from affiliate clickthroughs. Provided users click through to the homepage.

COMMISSIONS:
Standard Tier: 0 to 99 leads - £5 per valid lead
Gold Tier: 100 - 299 leads - £6 per valid lead
Platinum Tier: 300+ Leads - £7 per valid lead

To join the program, please visit our signup page.

Otherwise, please feel free to drop me a line if you have any questions.

**babafette** · 12-10-07

I can't see a typical APR anywhere on their site.

**yesnige** · 12-10-07

As a licenced credit broker we are not required to display a typical APR rate on our website. Actual APRs are all dependent on the individual circumstances of the applicant, the amount of the loan and the repayment length of the loan.

**Steve LNG** · 12-10-07

Are you sure that you don't have to show a typical APR?

Note on Credit Advertising
On 6 April 2007 new Regulations came into effect. These are the:
Consumer Credit (Advertisements) (Amendment) Regulations 2007 (SI 2007/827)
These changes impact on some of the guidance provided in this publication.
The new Regulations amend the definition of the typical APR to make it clear that it applies to all agreements entered into as a result of the advertisement and so also applies to advertisements published for the purposes of a business of credit brokerage. They also make corresponding changes to the provision for advertisements indicating a range of APRs.
This booklet will be updated in the light of the new Regulations in due course. In the meantime readers are advised to consult the Regulations directly and, if necessary, seek legal advice.

Or am I missing something ?

Steve

**yesnige** · 12-10-07

Hi Steve,

We are anxious to be transparent and accurate with our customers. It is not an obligation to have an APR on a site but if you do have one and say "typical APR" it has to be accurate.

The problem with the current credit environment is not Bank of England base rates but LIBOR rates (ie interbank rates). These are fluctuating quite frequently and almost as importantly are lender criteria, so that customers formerly falling within one interest rate band are now being credit scored as falling within higher interest rate credit bands because they are being thought of as higher risk. As a broker, we are not privy to each of our lenders interest rate and credit scoring secrets.

In addition, each lender has its own interest rate and credit scoring formulae which differs from its competitors. Having a panel of lenders means that there are a host of different numbers which could make any "typical APR" we quote rapidly out of date and therefore inaccurate. For these reasons we do not wish anyone to feel they have been misquoted a rate even though any misquoting would be unintentional.

Therefore we feel the safest course is not to quote a typical APR at all because we do not want our customers to feel they cannot trust us. In the current turbulent times within the credit markets that means that our commitment to delivering honesty and generating trust has a downside in that we cannot provide a glib inaccurate typical rate.

**babafette** · 15-10-07

Is it possible to provide a text link please?

**yesnige** · 15-10-07

Hi Babafette,
Text links are available through the Webgains admin panel.

Here is a link, you will need your affiliate code replaced on xxxxx
http://track.webgains.com/click.html...programid=1090

**yesnige** · 15-10-07

Apologies I just realised "allow text links" had been unchecked. It is now turned back on and you should be able to select text links from the program links section.