TFS Loans Limited

Reference number: 724439

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Scammers have impersonated this firm. The FCA has published 1 warning naming the fake phone numbers, emails and websites they used. See the warnings →

Authorised, but in an insolvency process

This firm is under the control of insolvency practitioners and may have stopped taking on new business. If you are or were a customer, deal with the appointed office holders rather than the firm.

What the FCA says

ATTENTION - Firm in an insolvency process

This firm is in an insolvency process. It is under the control of the appointed insolvency office holder(s) and may have stopped taking on new business. It has to continue to meet our standards in line with its regulatory status, including when dealing with its customers. If you are/were a customer check how this affects you with the firm or the appointed insolvency office holder(s).

Website, phone number and address

Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.

  • No website on the FCA register

  • No phone number on the FCA register

  • Address

    Opus Restructuring LLP, 322 High Holborn, London, WC1V 7PB, United Kingdom

In the full report: 1 background check

  • Who else gives the postcode WC1V 7PB
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Other names (19)

If you were contacted under any of these names, it is this firm.

  • Click-loans.co.uk Trading name
  • Consollo Trading name
  • Guarantorloans.co Trading name
  • needsome.money Trading name
  • TFS Commercials Trading name
  • TFS Finance Trading name
  • TFS Financial Services Trading name
  • tfsloans.co.uk Trading name
  • TFS Money Trading name
  • tfsmoney.co.uk Trading name
  • TFS The Loan People Trading name
  • TFS Training Loans Trading name
  • The Finance Store Trading name
  • thefinancestore.co.uk Trading name
  • The Loan People Trading name
  • www.tfstraining.co.uk Trading name
  • Suco Car Loans Former trading name
  • Suco Guarantor Loans Former trading name
  • www.suco.co.uk Former trading name

Warning

Scammers have impersonated this firm

Fraudsters have used this firm's name or details with their own contact information to appear genuine. Check whatever you were given below, and against the firm's real details above.

The FCA warning these came from

Scammers change these details often. Always check the live FCA warning.

Past FCA permissions and consumer protection

  • In an insolvency process
    Money the firm held is returned through the appointed office holders, which takes time and can fall short. The FSCS covers eligible claims up to its limits, and the Ombudsman can still look at a complaint.
Show FCA detail (6 permissions)
  • Administering a regulated mortgage contract
  • Arranging (bringing about) regulated mortgage contracts
  • Credit Broking
  • Entering into a regulated mortgage contract as lender
  • Entering into regulated credit agreement as Lender (Excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)
  • Exercising/having right to exercise lender's rights and duties under a regulated credit agreement (excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)

Limits on the record

  • Not permitted to canvass off trade premises
    The firm is not permitted to canvass regulated borrower-lender-supplier agreements or regulated consumer hire agreements off trade premises

FCA disciplinary action

FCA action

fine
1
in fines
£812k
most recent
June 2022
  • Fined £811,900 on 10 June 2022
    “On 10 June 2022, the FCA imposed a financial penalty on TFS Loans Limited. The reason for this action is because TFS Loans Limited breaches Principles 6 and 3 and CONC 5.2.5R, 5.3.2R and 7.3R between 2 November 2015 and 10 April 2018 by failing to consider sufficient information to enable it to carry out effective creditworthiness assessments of individuals acting as guarantors of loans which it issued, and by overcharging customers in arrears an ‘arrears management fee’ in contravention of its own policies. As a consequence of this action, the FCA imposed a penalty of £811,900. TFS has agreed to a requirement under section 55 of the Act to conduct an appropriate redress programme to ensure that customers affected by its failure to carry out effective creditworthiness assessments of guarantors are not disadvantaged. TFS has already provided redress to customers who were overcharged the arrears management fee. The FCA’s action took effect on 10 June 2022 and a copy of the Final Notice is displayed on the FCA's web site.

The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Concerns on the company record

  • Companies House records this company in liquidation, but it is still authorised on the FCA register.
  • Accounts are overdue at Companies House.
  • Confirmation statement is overdue at Companies House.
  • This company has insolvency history on record.
Company number
06542065
Company status
Liquidation
Company type
Private limited company
Incorporated
25 March 2008 (18 years old)
Registered office
Opus Restructuring Llp 1 Radian Court, Knowlhill, Milton Keynes, Buckinghamshire, MK5 8PJ
Nature of business
  • Financial intermediation not elsewhere classified (SIC 64999)

Directors and company secretaries

Name Role Born Appointed Other companies
Paul James Auger Director Dec 1963 14 Aug 2009 13 other companies
Ranjit Singh Narwal Director Feb 1962 1 Jul 2010 5 other companies
Howard Peter Snell Director Mar 1955 1 Mar 2011 10 other companies
Martin Graham Director Nov 1962 1 Oct 2012 29 other companies

Other companies run by these 4 directors

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
46
closed down
24
went insolvent
2

In the full report: all 46 companies, named

  • What each company does, and whether it is still trading
  • Which of these 4 directors sit on each board, and since when
  • The 2 that went into liquidation or administration
  • The 5 on the FCA register
  • The 5 companies these 4 directors run together
  • All 8 people who have ever been directors, with their dates
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Key dates in its history

TFS Loans’s history from the FCA register and Companies House, newest first.

Key events (7) All events (45)

2022

10 June 2022

  • Fined £811,900 by the FCA

FCA register

2018

19 October 2018

  • FCA warned the public about a scam impersonating this firm

FCA warning list

2016

3 November 2016

  • Regulated by the FCA from this date
  • FCA imposed a requirement (Not permitted to canvass off trade premises)
  • Became authorised by the FCA

FCA register

6 April 2016

  • The Finance Store Limited took control (75–100% of shares)

Companies House

2008

25 March 2008

  • Incorporated at Companies House

Companies House

In the full report: all 45 events

  • All 45 events in its history (7 shown here)
  • Every director appointment and resignation: 12
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Firms connected to TFS Loans

Other FCA-listed firms that share a director, phone number or address with TFS Loans. A link shows who the firm is tied to, not whether either can be trusted.

connected firms
6
share a director
1
share its postcode
5

In the full report: all 6 connected firms, named

  • How each is linked: shared directors (1), the same postcode (5)
  • Who links each one: the named directors, with dates
  • 4 past links through former directors
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Firms like TFS Loans

Other firms of the same type (mortgage lender), nearest first.

In London

Prudential Lifetime Mortgages LimitedLondonAuthorisedRothschild & Co Wealth Management UK LimitedLondonAuthorisedCoutts Finance Co.LondonAuthorisedButterfield Mortgages LimitedLondonAuthorisedOctopus Investments LimitedLondonAuthorisedLendInvest Loans LimitedLondonAuthorised

Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.

Get the full report on TFS Loans

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 46 other companies its directors have run, named
  • 1 background check on its contact details
  • All 45 events in its history
  • 6 connected firms, named, and who links them

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Frequently asked questions about this firm

Is TFS Loans Limited FCA authorised?
Yes, TFS Loans Limited (FRN 724439) is authorised by the FCA to carry out regulated activities. It is also in an insolvency process, under the control of insolvency practitioners, so deal with the appointed office holders rather than the firm. It has held its current authorisation since November 2016 and works as a mortgage lender. The FCA has placed a limit on what it may do.
Is TFS Loans a scam or clone?
Scammers have impersonated TFS Loans: the FCA has published a warning about fake versions of it, using contact details that are not the firm's. Only trust the details the FCA register gives for TFS Loans, shown on this page.
Is my money safe with TFS Loans?
TFS Loans is under the control of insolvency practitioners, so money it held is returned through the appointed office holders rather than by the firm. That takes time and can fall short. Where money is missing, the FSCS covers eligible claims up to its limits, and the Financial Ombudsman Service can still consider a complaint.
Who owns TFS Loans?
TFS Loans is owned by The Finance Store Limited, which holds 75–100% of shares and 75–100% of votes, since 6 April 2016.
Who runs TFS Loans?
Companies House lists 4 directors of TFS Loans: Paul James Auger, Ranjit Singh Narwal, Howard Peter Snell and Martin Graham.
How long has TFS Loans been in business?
The company was formed on 25 March 2008. Companies House now lists it as liquidation.
Has the FCA taken action against TFS Loans?
Yes. The FCA register records 1 fine in 2022, £811,900 in total. The details are in the disciplinary section above, with links to the FCA's notices.
Does TFS Loans use any other names?
It trades as Click-loans.co.uk, Consollo, Guarantorloans.co, needsome.money and TFS Commercials, and 11 more names. It has previously used 3 other names: Suco Car Loans, Suco Guarantor Loans and www.suco.co.uk.

Sources and links

The full report on TFS Loans Limited

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