All I can say is good luck.

I am still waiting for my refund. I have lost count how many times I have spoken with Alex Summerfield (customer care manager) and the excuses are just unreal, latest been her manager is unwell and only she has the cheque book but then when I rang her a week later another excuse. She has promised me time and time again that she will deal with it. Still waiting!

Hope it all works out for you

Collette Joyce

I have not read about anyone obtaining the loan they were promised.

These companies promise loans and then you don't hear anything. From what I understand, these loan brokers have up to 6 months to find a loan. The people you speak to on the phone don't explain the process as all they are interested in is the commision for signing up a customer to pay a fee.

If they don't provide the loan within the timescale promised on the phone make a complaint and ask for the fee back minus the £5 they are allowed to charge. Send any complaint in writing by recorded delivery.

"The Consumer Credit Act limits a credit broker's charges to £5 if, following an introduction to a lender, an agreement is not signed within six months. If more than that has already been paid, brokers must refund the excess on request. This section of the Act ensures that brokers are only entitled to a nominal fee if they are unable to obtain credit or hire facilities at a price the consumer is prepared to pay".

Hi there, i have only just applied for a £6000 loan tonight with Magic Finance company, after reading all of these posts i am really scared an aprehensive to what might happen next.... did you actually get the loan you applied for, and are the a fully professional company you feel you can trust? please get back thanks lws90.

I had the 30 day sketch, this is then followed by the 30 working day sketch, this is then followed by the 14 working days for the refund to be issed. This is followed by computer problems.....the list goes on.

Lodge a complaint with consumer direct and email Magic Finance with a copy of the complaint. Copy it in to Enhance finance they are one and the same. The staff wont tell you who they are ....Alex the customer service manager is called Alex Somerfield...They slipped up, make sure you quote her full name in complaints.......I finally got a cheque at the weeked after nearly 5 months badgering!!!

These guys are a joke......as well as liars!!

good luck

STAY WELL CLEAR OF MAGIC FINANCE

I applied for a loan in Agust and was accepted with a reasonable Apr rate of 10.9% (thought it was the solution to all my problems) Then I was asked to pay the holding fee of £69.99, Of course I thought What's the catch???? but after a lengthly conversation with one of the sales team I was assured that the only way I wouldn't get that refunded to me is if I refused the original offer. All I had to do now is send off a bank statement and ID. Great!!!

A few days later I got a letter from a Co offering me half the money with an Apr 50.?% There is no way on this earth I would have accepted that offer. I tried to contact Magic Loans on the number given to me, left numerous of messages and after 2 weeks still nothing. Eventually, I got through to Customer Care via the sales team but believe me this was not easy. I explained my situation, I even asked them to listen to the original telcon but I got the impression they were used to this and really couldn't care less. I did what they asked and emailed them to ask for my refund....thought that would be the end of it. Another 2-3 weeks went by and again the same problems trying to contact them and was then told I would have to wait 30 days ....Why did they not tell me in the first place. I was promised I would hear from the refund department 30 Dec. GUESS WHAT I'M STILL WAITING.

Thank you conmankiller, I now have the relevant letter and will be sending it by registered post.

Magic Finance....My A***

ripped off by Magic Finance - Any ideas for my refund will be greatly appreciated.

Read my post 2nd down in this thread, it tells you the appropriate consumer legislation to quote and the process to secure the return of all but £5 of your money.

DO NOT USE MAGIC FINANCE

Took my £69.99 in November - told me i had to write in for a refund, told me i had to wait 30 working days for the refund, when this had expired they then fed me some crap about having to wait a further 14 working days for the money to be credited to my account. That expired last Friday they are now trying to tell me they are going to write to me with details of my refund

Liars - Any ideas for my refund will be greatly appreciated.

DO NOT USE MAGIC FINANCE GROUP

Could everyone please visit the Loans section of the Discussion board on Magic Finances facebook site......you will find out just what sort of company (and I use the term very loosely) they are .............

I agree - that's why I'm complaining to the financial ombudsman. Have you noticed they never take you through security checks? That's odd, don't you think?

Seems like i have been a touch more fortunate than others, although i did have the same problem getting through to them and i too had to use the sales line.

i do however find it hard to believe a broker with the necessary credit licenses can run without completing any loans. Surely they would be shut down?

neversaydie - My; that's certainly in stark contast to the original posters experience and more in keeping with most other experiences.-thanks for sharing yours.

One has to wonder if the OP was just a one-off very lucky chappy, or more sinister.......has a ulterior motive.?

Magic Finance are a dishonest company just out to grab your money - DON'T give them the time of day. They never respond to voicemail or email messages and the only way you can get through to their customer service people is by going through the sales line! That should say something. They keep you waiting for weeks on end then deny they've done anything wrong when you don't get your loan. They also try to keep on to the money you've paid. DON'T GO NEAR THEM!!!!

Must be why they call themselves Magic, they've certainly defied all expectations if that's the case. !

Hello,

Got my £70 back today. In my initial call with magic loans they said they give it back on completion, it was just a 'holding' payment and not an actual broker fee and therefore they give it back on completion. I hadnt heard of this before but its all gone well for me so cant complain,

The apr i have received is 10.9% .

Hi - What rate of APR% did they offer you.?

Are they not entitled to keep your £70 as their brokers fee, because they have actually managed to provide the loan.?