WARNING: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Please note: We are a broker, not a lender, and do not make credit decisions.

Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable).

Subject to application being approved by the lender. Not all lenders are able to provide up to £5000

We are on the FCA register please see here

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Why choose 1st Class Loans for your online payday loans in the UK

Here at 1st Class Loans, we strive in providing a seamless, online service to all of our customers, in their search for an online payday loan. Our business model is designed to provide a first-class service, that our customers would be happy to recommend to others. We aim to be your number one choice whatever your financial needs in the UK market.

What service do I get with 1st Class Loans?

Our introductory service provides you with a simple and fast online lending application process, providing you with an instant decision for your payday loan.

  • The security of your personal data is important to you, which makes it a priority to us. That’s why 1st Class Loans does not retain any of your personal information.
  • We will only ever ask you for personal details which relate to your loan application and nothing additional for research or marketing purposes unless you want us to.
  • If you’re not satisfied – we’re not. Please tell us if you feel there is anything that we can do to improve your experience by visiting our Contact Us Page

What should be considered when searching for Payday loans online

Do I really need to take out a payday loan – or can I wait?

First and foremost, what should be considered if you have found yourself searching for a quick loan is – do you really need it?

Whilst a payday loan can be a great option for bridging short financial needs, they should always be considered as a last resort due to the high cost.

If you’re considering an online payday loan for purchases such as a new car, then considering an alternative solution like a personal loan might be a better option. However; if you need the funds instantly for an emergency cash injection, then a payday loan UK could be the answer you’re looking for.

If you’re still unsure if you do need to take out a payday loan or not, visit the Money Advice Service for more information on what should be considered.

Can I afford to make the repayments?

The second factor which should be taken into account, is can you comfortably afford to make the repayments in full and on time? Instant Payday loans, are a form of high-cost short-term credit which ultimately means you are paying higher interest rates on your loan because the amount of borrowing is over a shorter period. Although you can get 12-month payday loans, we would recommend you try paying it off as soon as you can as you will pay less interest.

Typically, the amount of interest charged will be around, and no greater than, £24 for every £100 borrowed. However, if you do not meet the agreed repayments, this type of borrowing can become a lot more expensive due to charges applied to your loan.

So be sure to consider if there are any foreseen changes in the near future that might impact your ability to repay the loan before making a final decision.

How does 1st Class Loans HELP find me a Payday loan UK?

As part of our first-class service, we believe that transparency is key. So unlike other companies that portray to be a payday loan direct lender, we want to be as open and honest about the way our service works.

We are not a direct lender, however, we have access to a large panel of lenders through a clever piece of technology. This works by sending your application details to search the panel of FCA approved lenders to see if a lender is willing to borrow to you. If you are found a match, you will then be redirected to the lender website to complete your loan application. Some of the leading lenders in the UK are SafetyNet Credit, Amigo Loans, My Jar, QuickQuid, Lending Stream and more. We work with a large percentage of them.

Will you charge fees to find me the best payday loans?

We will never charge you any fee’s for using our service. Our service is completely free for you to use, as we are paid as a ‘referrer’. This means that once we introduce you to a lender and you agree to proceed with the loan application, the lender will pay us a fee.

do you do payday loans for very bad credit?

There’s no guarantee that we will be able to find you a payday loan with no credit check if you do have bad credit. However, the way in which our business works means, that applying through us may increase your chances of finding a suitable loan provider to your circumstances. Using our services will also save you time by removing the need to complete numerous application forms with different loan providers.

What are the alternative options to payday loans in the UK?

  • Friends and family – We always recommend asking friends and family first before taking a payday loan.
  • Credit cards – if you have a credit card with an available balance that covers the loan amount required; then use your credit card to save opening an additional credit account. However; make sure you pay back the additional amount borrowed in full before your next due date.
  • Extend your overdraft – This one can be tricky, going into your overdraft without permission from your bank can actually have some extremely high interests rates. Some more than payday loans themselves. However, if you can agree with your bank to get an arranged overdraft it might work out cheaper than getting a payday loan.

We’ve only listed a few of the main alternatives to payday loans, however, The Money Saving Expert goes into a lot of detail regarding alternatives to payday loans.

What does APR actually mean?

APR stands for Annual Percentage Rate and is a calculation of the full amount of the loan you will pay over a course of one year.

We often find that customers can get confused by APR and here’s an example below why:

If you were to get a £100 loan over 1 month and the total repayment was £122.

That means your cost of credit is £22.

To most people, the interest on that loan is 22% which is correct, however,

In the APR terms, this is in fact 1000% APR – which appears extremely high.

Data source: BBC monthly interest calculator.

Unless you are considering a loan over a 12-month period, then we suggest looking at the total amount of interest payable on the loan as opposed to the APR, as APRs can make the interest repayable appear higher. However; if you’re in need of a loan longer than a 12-month period, then consider the APRs as well as the total amount repayable on your loan.

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