Introduction of Leno

Overview

Leno AD, established in Bulgaria in December 2013, previously operated as a licensed financial institution regulated by the Bulgarian National Bank (BNB), with registration No. BGR00341. However, its regulatory status has since been revoked. Despite offering a range of financial services including mortgage loans, business loans, startup financing, and loan refinancing, potential clients should approach with caution due to this significant change. Moreover, the provision of customer support through various channels, including phone, Viber, and email, does not negate the importance of thoroughly researching the company's background and considering any negative feedback before engaging with Leno AD.

Regulation

Leno's United Kingdom FCA regulation, with license number 825530, has an abnormal regulatory status as its license has been revoked. This indicates a significant risk associated with engaging in any financial activities with this entity. It's crucial for individuals and businesses to exercise caution and refrain from conducting any transactions with Leno's United KingdomFCA until its regulatory status is resolved.

Pros and Cons

Leno's loan services offer several advantages, including tailored mortgage and business loan options, flexible interest rates, and benefits such as the Leno+ plan and grace periods for payments. However, its abnormal regulatory status with the UK's Financial Conduct Authority raises significant concerns, potentially overshadowing its benefits and emphasizing the importance of caution when engaging with the company.

Services

Leno is a financial institution that offers a variety of loan services, particularly focused on the following areas:

1. Main Business

• Mortgage Loans: Leno provides mortgage financing with terms tailored to the borrower's financial status and credit history.

• Business Loans: Financing solutions for businesses seeking to expand or manage cash flow.

• Startup Loans: Specialized loan products designed to support the launch and growth of new businesses.

1. Loan Features

• Interest Rates: Rates vary from 9.9% per annum for prime clients to 3.16% per month for deep subprime clients, based on:

Credit history

Financial situation (income, assets, expenses, liabilities)

Collateral value and liquidity

Presence of guarantors

Economic conditions

• Benefits: Options like the Leno+ plan can significantly reduce mortgage interest rates. Grace periods of up to 5 years for principal and 6 months for interest are also offered.

1. Application Process

• Speed of Disbursement: Efforts are made to disburse funds within a week, depending on the readiness and promptness of the borrower in providing necessary documents.

• Documents Required: Initially, an ID card, property documents for collateral, and a credit request are needed.

1. Additional Services

• Refinancing: Leno assists clients in consolidating fast loans or refinancing from more expensive lenders.

• Support in Financial Difficulty: Rather than pursuing aggressive collection tactics, Leno works with clients to restructure their loans if they face payment challenges.

Customer Support

Leno offers comprehensive customer support through multiple channels, ensuring accessibility and responsiveness to client inquiries and concerns. Clients can reach out via phone at 0700 42 442 or through the shortcode *2424 for immediate assistance. Additionally, the option to connect via Viber provides a convenient platform for real-time communication. For inquiries or support requests via email, clients can reach the support team at support@leno.com. With a commitment to excellent service, Leno AD aims to address customer needs promptly and efficiently across various communication channels, fostering trust and satisfaction among its clientele.

Conclusion

In conclusion, while Leno offers a range of loan services and emphasizes customer support, its abnormal regulatory status with the United Kingdom's Financial Conduct Authority raises significant concerns about engaging in financial activities with the company. Despite its diverse loan offerings and supportive measures for clients facing financial difficulties, negative feedback suggests potential issues with the company's operations or customer experiences. Therefore, individuals and businesses should exercise caution and seek alternative financial solutions until Leno's regulatory status is resolved and any underlying issues are addressed to ensure transparency and reliability in their financial dealings.

FAQs

Q: What is Leno's primary business？

A: Leno's main business revolves around providing mortgage and business loans tailored to individual needs, including startup financing and mortgage loans with personalized terms based on factors such as credit history and financial situation.

Q: How does Leno determine its interest rates？

A: Leno's interest rates vary depending on factors such as the borrower's credit history, financial situation, collateral value, presence of guarantors, and prevailing economic conditions, with rates ranging from 9.9% per annum for prime clients to 3.16% per month for deep subprime clients.

Q: What benefits does Leno offer to its clients？

A: Leno provides benefits such as the Leno+ plan, which can significantly reduce mortgage interest rates, as well as grace periods of up to 5 years for principal payments and 6 months for interest payments, enhancing affordability and flexibility for borrowers.

Q: How fast can borrowers expect to receive funds from Leno？

A: Leno aims to disburse funds within a week, depending on the readiness and promptness of borrowers in providing necessary documentation and information for loan processing, ensuring timely access to financing for their needs.

Q: What support does Leno offer to clients facing financial difficulties？

A: In cases of financial hardship, Leno offers assistance in restructuring loans rather than resorting to aggressive collection tactics, demonstrating a commitment to working with clients to find mutually beneficial solutions and alleviate financial burdens.

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.