Member Article

Freedom Finance has partnered with a major UK supermarket for its personal loans offering

Manchester-based personal loans provider, Freedom Finance, has announced a new partnership with UK supermarket Asda that marks the first time a UK retailer has partnered with a panel-based broker.

The lending platform has joined up with Asda Money to launch Asda Personal Loans, which claims it will offer affordable finance to the millions of Asda customers.

Utilising Freedom Finance’s FinTech platform, the new service will allow users to search a panel of trusted lenders and be provided with the best available rates for personal loans depending on their criteria.

Brian Brodie, Chief Executive of Freedom Finance, claimed that the new partnership, which launches today online and via the telephone, will significantly increase the number of personal loans it will be able to approve for its 19m-strong customer base.

He said: “This is the first time a panel-based lending approach has been applied to a UK retail loan offering. It widens the market space for Asda Money, who will now be able to say yes to more customers.”

Katie Walley, Head of Asda Money added: “Unlike other high street lenders, we will consult with a panel of trusted lenders through Freedom Finance to ensure we offer customers the best loan for their circumstances and rest assured thanks to the soft search technology, there’s no effect on customer’s credit rating – something we don’t feel is fair.”

Based out of Wythenshawe at Atlas Business Park, Freedom Finance allows users to search for loan rates across over 20 providers including RateSetter, Zopa and LendingWorks.