ASDA Money has partnered with lending platform Freedom Finance to launch its ASDA Personal Loans offering.
The joint venture will use Freedom Finance’s financial technology platform to search a panel of trusted lenders, with ASDA Money also benefitting from the expertise of Freedom’s specialist broker team. One application will give customers the best available rates for personal loans, without leaving a mark on credit ratings.
It is the first time that a UK retailer has partnered with a panel-based broker, and the proposition will therefore mean more application approvals in comparison with single-lender providers.
Gateley Plc has advised leading lending platform Freedom Finance on the deal with a team led by Corporate partner David Armitage (picture), assisted by partner Philip Alton and consultant Robert Rosenberg.
Law Firms: Gateley LLP;
Clients: Freedom Finance;