Asda Money has launched Asda Personal Loans with Freedom Finance, online and via telephone.
The offering uses soft search technology and using Freedom’s platform, with one quick application, Asda Money’s panel can review a variety of lenders.
Katie Walley, head of Asda Money, said: “Our strong belief and analysis of the current market, was that a new and different approach to personal loans was desperately needed to better fit the needs of our customers and consumers who are constantly turned down or offered a rate that doesn’t suit them.
“We have partnered with Freedom Finance because of their relationships and experience with the UK’s leading lenders who offer competitive APRs and a shared passion for providing great customer outcomes.
“Unlike high street lenders as well as Sainsbury’s, Tesco and M&S, we will consult with a panel of trusted lenders through Freedom Finance to be sure we’re offering customers the best loan for their circumstances and rest assured thanks to our soft search technology, there’s no effect on customers’ credit rating – something we don’t feel is fair.”
Brian Brodie, chief executive of Freedom Finance, added: “At Freedom it is our mission to help as many customers as possible secure the funding needed to realise their dreams and providing a great standard of customer service is at the heart of what we do.
“We are very excited to be part of this retail first joint venture with Asda and truly believe our panel will provide more choice for Asda loan customers versus their competitors and most importantly will ensure Asda are able to say yes to more customers.”