Full Disclosure Document

The name, business of our firm and address at which it is established

Opal Loans is a trading style of Aspire Money Limited

Aspire Money Limited, is a registered credit broker in England, company number 06457376.

Our firms registered address is

Unit 1, Castle Court,
Castle Gate Way,
Dudley, DY1 4RH.

Firms registration details

The firm is authorised and regulated by the Financial Conduct Authority and are currently on the Financial Services Register under the Firms reference number 681346

We also hold a Data Protection Licence with the Information Commissioners Office and are currently on the Data Protection Register under the number: Z1262766. The Data Controller is Aspire Money Limited

Firms description of services

We are a credit broker who offers solutions in the personal finance market. We will assess your application, based upon the information you have or will provide, for suitable financial products. Our experience in the loans market allows us to help customers have the best possible journey from the moment they start their loan application right through to getting the funds in their bank account. We never forget that you the customer are the main focus of what we do as a business.

We will not give you advice or provide you with any personal product recommendation; we will only provide you with loan options from lenders on our panel where you meet their criteria from which you can make an informed decision on which is the right loan option for you.

We will need to ask you some questions based on your needs and circumstances; to allow us to identify which one of our panel of lenders products you are eligible for. Any available options will be provided to you so that you have all the information you need to make your own informed decision on whether you want to apply for the loan.

We do not charge you any upfront fees. If we are successful in finding you a financial product then on completion of any loan application with the provider, we will derive our income from commissions paid by the provider which will be % of the loan amount paid out.

In order to provide the service, you have requested we will process your information and share it with our panel of lenders, other brokers and any other third party we believe may be able to help you.

In order to assess your creditworthiness, verify identities, prevent financial crime and find the right lender for your circumstances, our panel of lenders may do a full credit search (application search) on you and anyone to whom you are financially linked which only those searched will be able to see.

If you choose to proceed with a loan we identify for you, the selected lender may perform further checks. This will be to verify credit worthiness, verify identities and prevent financial crime. In this instance the credit reference agency may add the details of this search which may be seen by other organisations that make searches and who may use it to help make credit decisions, to prevent financial crime or to trace debtors however this depends on which lender may be able to assist you.

Information held about applicants by credit reference agencies may already be linked to records related to one or more of your partners or members of your household. As a result any application you make may be treated as financially linked and the application may be assessed with reference to any associated records. To ensure we are speaking to the right person, identifying you when you contact us will be important and will ensure we satisfy our regulatory obligations.

You agree that we may process, use, record and disclose your personal information as described above. Our panel of lenders may use automated decision making systems when assessing your application. We and our panel of lenders may disclose your personal information to credit reference agencies. Information held by credit reference agencies may be linked to other people with whom you have financial associations. The lenders may look at their records when assessing your application. If your application is not accepted by a lender, we will assess your eligibility for a product issued by another lender and may pass your personal information to another lender on our panel. To assist that lender in establishing your eligibility for credit, it will also pass your personal information to credit reference agencies.

To improve the quality of our service, we may record and or monitor telephone calls with you for the following purposes:

• Security, quality and or training,

• To investigate queries,

• To comply with our legal obligations.

We will make every effort to ensure the accuracy of loan options provided to you. Options are based on the latest information available from the lenders at the time we speak to you and may change as all loan options provided are subject to further checks. The lenders do however reserve the right to change the APR rates and underwriting criteria without notice. Should this occur, it may result in a change to the loan option you have been provided with or may result in the loan option being withdrawn.

The accuracy of any loan option will also depend upon the accuracy of the information you have provided. Opal Loans and our panel of lenders will conduct checks to verify the accuracy of the information that you have provided. If the information you have provided changes as a result of these checks, the original loan option may be changed or withdrawn.

How to cancel an application completed with us?

Should you decide to cancel your loan application with Opal Loans you can:

• Email us at compliance@opalloans.co.uk; or

• Write to us at: Unit 1, Castle Court 2, Castlegate Way, Dudley, West Midlands DY1 4RH; or

• Telephone us on 020 3409 4555; or

• You can message us through a contact us form.

How long are your loan options valid for?

Your loan application with Opal Loans is valid for up to 30 days, if you decide to take up any of the offers available to you after the 30 days, you may be required to complete a new application with us.

How should you complain?

We aim to provide you services that meet your needs, putting you as a customer first at all times. Even the best organisations sometimes make mistakes and if we do, or we fail to meet your expectations in some way, we want the opportunity to put things right as quickly as possible.

Contact us as soon as possible, either via phone on 020 3915 9994 or via our contact us submission form, or by writing to:

The Complaints Department

Opal Loans

Unit 1, Castle Court 2, Castlegate Way, Dudley, West Midlands DY1 4RH

We will acknowledge your complaint promptly in writing and will include written details of our complaints handling procedures. We shall resolve it at the earliest opportunity with the aim of doing so within 8 weeks of receipt.

Where we are able to provide a final response immediately, the acknowledgement may be combined with the final response. You will be kept informed of the progress of the investigation.

If you are not happy with our response, if we reject your complaint or you do not hear from us within 8 weeks, the Financial Ombudsman Service may be able to help you.

You can write or contact them using the details below

Financial Ombudsman Service

Exchange Tower

London, E14 9SR

Tel: 0800 023 4567 (free phone from a UK land line)


It's a free, independent service for settling disputes between financial services firms and their customers. It can deal with complaints about a wide range of financial matters.

The Financial Ombudsman Service will contact us to explain the details around your complaint and then decide whether to uphold your complaint.

It is important you contact the Financial Ombudsman Service within 6 months of receiving our final response letter, or it may not be able to deal with your complaint.

Your opinion is very important to us. Listening to your views helps us develop our company processes and enhances how we deal with customers.

Please email compliance@opalloans.co.uk with any feedback you may have.

Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of the business and the circumstances of the claim.

Further information about the compensation scheme arrangements is available from the FSCS. You can find out more about FSCS at www.fscs.org.uk or by calling 0800 678 1100.