Step One Finance Review [Read Our Expert Opinion]

David Allan

Written by David Allan on April 23, 2018

Updated April 23, 2018

StepOne Finance

Overall Rated: 4.3 / 5

Summary

Step One Finance is a UK-based consumer loans company that began in 2010. Offering a range of financial consumer products, Step One Finance have a borrowing solution to suit everyone. From guarantor loans when the borrower is not a homeowner, to homeowner loans for those who want to take a secured loan option, there is a loan product available for all needs.

While Step One Finance is a relatively new provider, they adamantly maintain the traditional values of lending. They make sure that lending products are entirely transparent. Their website is evidence of this as it offers debt advice and makes sure that customers do not get misled by products purporting to be Step One Finance. Step One Finance make it perfectly clear that they do not charge upfront fees and customers should be vigilant about Loan Fee Fraud.

Another benefit of Step One Finance is their inclusivity. They offer a range of products to suit all circumstances. By completing the online loan application, a customer advisor at Step One Finance is the one to make the decision in principle. This means that all individual need and circumstances are considered before a decision is made. This traditional method rather than an automated algorithm means they can help more customers and provide a personal touch to the process.

Trust & Reputation

Rated 4.6/5

Operating since 2010, Step One Finance has quickly built up a reputation as a fair and flexible lender. Based on their reputation, they have seen unprecedented growth and have quickly expanded their market offering by creating a broker platform as well as helping customers directly.

Showing their commitment to the industry and building the necessary trust with their customers and brokers, Step One Finance is fully regulated by the Financial Conduct Authority. The lender also adheres to the Finance and Leasing Association (FLA) Lending Code to make sure every product is above board and that the whole team offer the best practices within the industry.

As well as this, the firm takes data protection seriously. Step One Finance is registered by the Information Commissioner’s Office and follows strict data guidelines for the protection of their customers.

Expertise & knowledge

Rated 4.6/5

As well as offering products directly to the consumer through their online application form, Step One Finance also have a broker portal so that they can help more people get a loan that suits their needs. The broker portal does make a quick decision in principle.

However, brokers do enjoy the same benefits that direct customers enjoy as the team of underwriters will make a case by case assessment to help brokers and widen their customer base.

By joining the broker market, Step One Finance showcase themselves as a business that has seen success from their business model and want to further their knowledge on the broader market.

Customer Service

Rated 4.3/5

Although Step One Finance does not, as yet, have any reviews on independent review websites such as Trustpilot or Feefo, they have gained a social media following and have collected their own reviews through testimonials that are accessible on their website.

Their testimonials are collected from brokers and direct customers. Brokers praise the Step One Finance team for their flexible approach and willingness to help their customers as well as making the lives of the brokers easier.

Step One Finance are also praised for the quick communication and responsiveness. While they may not have external reviews to compare, Step One Finance evidently offer a crucial customer service benefit by the fact that they individually assess each loan application and take all personal circumstances before making a decision. This is an essential aspect of their service and shows they go above and beyond compared to lenders that base their loan acceptance on algorithms and credit checks only.

We are independently reviewed by our verified customers and web users:
Rating: 4.3 / 4.3 with 1 votes