AVOID 'FUTURE FINANCE' They are liars, deceivers and con artists. Watch

futurefinance:(
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They don't tell you that you will get your loan in installments.Over the phone I was told I would receive a lump sum. That's how most loans work. Then upon receiving £x, you start to pay interest on the amount loaned.Future Finance pay only a very small proportion of £x up front, but immediately start charging interest on the full sum. THIS IS COMPLETELY OUT OF ORDER.

Future Finance are evil. Avoid them at all costs. They pray on skint and desperate students, then proceed to bend the student over a barrel and F*** them.Really really really NOT cool.
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murpo
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(Original post by futurefinance:()
They don't tell you that you will get your loan in installments.Over the phone I was told I would receive a lump sum. That's how most loans work. Then upon receiving £x, you start to pay interest on the amount loaned.Future Finance pay only a very small proportion of £x up front, but immediately start charging interest on the full sum. THIS IS COMPLETELY OUT OF ORDER.

Future Finance are evil. Avoid them at all costs. They pray on skint and desperate students, then proceed to bend the student over a barrel and F*** them.Really really really NOT cool.
*

This is what happens when you don't read the terms and conditions eveybody.*
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Klix88
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(Original post by futurefinance:()
They don't tell you that you will get your loan in installments.Over the phone I was told I would receive a lump sum. That's how most loans work. Then upon receiving £x, you start to pay interest on the amount loaned.Future Finance pay only a very small proportion of £x up front, but immediately start charging interest on the full sum. THIS IS COMPLETELY OUT OF ORDER.

Future Finance are evil. Avoid them at all costs. They pray on skint and desperate students, then proceed to bend the student over a barrel and F*** them.Really really really NOT cool.
I'm so sorry you were misled, but as murpo says, all of this is laid out in the contract you signed. In this instance, the FAQs on their website make it clear that payments intended for maintenance will be made in installments rather than given in a lump sum. If you weren't given a payment schedule with your quote as you should have been (which would make it clear exactly what money you would get and when), then you could approach the Financial Conduct Authority to complain.

Never trust any info around finance - from any company - unless you have it in writing.

Your summary of FF's reason for existing, is pretty accurate in my view. Nobody goes to them unless they're out of alternatives or don't understand what they're agreeing to.

Doubtless an FF employee will be attending this thread shortly, to sing their praises. If anyone reading this is considering doing business wih them, take positive comments with a pinch of salt and *always* read the small print.
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Future Finance
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Hi there,
Sorry to hear that you had a bad experience. We take your comments very seriously and we will feedback to the team. However, we'd like to clarify a few points:

1) As mentioned, it is very important to read the contract, and the disbursement / repayment plan carefully before signing the loan contract. We try to be as accommodating as possible on the disbursement schedule, to suit individual students needs.

2) We can disburse up to £3,500 in a lump-sum, but as outlined on our website we tend to disburse cost of living funds in monthly installments to help students budget their loan.

3) To you last point on interest. We actually only charge interest on funds disbursed. This means you won't be paying any interest on the money you haven't yet received.

We do hope that the loan enables you to focus on your studies and wish you the very best of luck with your course. If you would like to discuss anything in regard to your loan, please feel free to get in touch with our team on [email protected] or by calling 020 3743 8700.

The Future Finance Team
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