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
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Our introductory service provides you with a simple and fast online lending application process, providing you with an instant online decision for your payday loan.
First and foremost, what should be considered if you have found yourself searching for a quick loan is – do you really need it?
Whilst payday loans UK can be a great option for bridging short financial needs, they should always be considered as a last resort.
If you’re considering an online payday loan for purchases such as a new car, and you can wait for the funds – then considering a personal loan might be a better solution. 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.
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.
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.
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.
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.
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.
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.