5 minute application
Many of our previous customers are already eligible for a short term loan, having previously borrowed through us; this guarantee is extended by payday lenders because you have previously utilised their services.
Does this mean that I am guaranteed of being accepted for a payday loan? No-one is guaranteed acceptance, however, because you have honoured a previous loan and repaid it as agreed, lenders will be much more willing to approve you for a loan.
Talk of quality and assurances of service are little consolidation if the service isn’t also up to the level that is required, this is why we regularly ask clients to give us their input, please feel free to contact us at any time.
Right to change your mind regarding your loan
If at any point during the lending process - that's before the payday loan is sent by the lender, you have any questions or concerns you can simply contact customer service who will guide you through the process and any questions you might have. These details will be found on emails that will be sent to you after your application has been successful.
Straight forward and easy to understand!
The payday lenders in the UK use a easy to understand interest scale of - for every £100 borrowed there will be a set charge*. The charges might vary slightly by lender, however, the terms of the loan remain constant.
The loans interest is fixed at a rate per every £100 borrowed and you simply repay the loan along with the the charge within 30-days or your next payday. Which ever you prefer or is easiest for you.
Why is the APR so high
This percentage is a representation of the amount of interest you would be expected to repay if you were to borrow the money for a year. The problem with this is that these loans are not intended for a year but rather one month. Yes the interest rate is higher than financial products repaid over longer, but you will never face those fees as you will repay the loan after a month, not one year.
This skewing of the numbers is the main problem that detractors of payday lenders complain about. To summarise the situation in another way, if the APR was an actual representation of reality then a borrower would repay £24 every month for a whole year on a loan of £100. So of course this percentage will be ridiculously high as it isn't real but a multiplication of the actual interest paid by the sum of 12-months.