Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
A payday or short term loan is a short term cash loan that is intended to be used to pay for an unforeseen expense. e.g. a broken washing machine, car repairs, a new computer for work etc.With a payday or short term loan, you could borrow from £100-£2,000 and if approved pay back on your next payday.
This can vary from lender to lender. Typically, the application form should take you just a couple of minutes to fill in. If you are approved, your loan could be in your designated bank account from anywhere between 15 minutes and 2 hours, although some banks do not have a faster payment facility and could take up to 3 days to arrive in your account. In some circumstances lenders may require further information from you. If you are prompt in your response to their queries, they can usually process most loans within 24 hours.
We do not charge any fees for using this website to apply for a short term loan, although some brokers and lenders you will be sent to may do this.
We understand nobody’s perfect, so we don’t expect your credit history to be faultless. You will be credit searched, but we will try to match you with a lender that is best suited to accommodate your current circumstances. If you can’t afford your desired loan amount or you are using the loan to payback other credit then please do not apply for a payday or short term.
In most cases funds are received within 1 hour of being approved for a loan. Most lenders will try to transfer your money as quickly as possible. If all criteria is met during the application process this time can be as little as just 15 minutes. Banking policies may vary and your funds could take up to 3 days to be deposited therefore we cannot guarantee an exact time frame.
This depends on the individual lenders, though typically they can only send funds to the bank account you provided when applying for your payday loan.
If you fail to pay back the required amount then you may be charged additional interest and/or late fees. All of our loan providers adhere to and follow all applicable collection laws and guidance as issued by the Financial Conduct Authority.
If you miss a loan payment it is likely that you will be expected to pay a late fee of up to £15. It is also possible that you will be required to pay further interest on the amount already owed. This will never exceed more than double the amount borrowed. For example if you borrow £100 you will not pay more than £200 including interest and charges.
The actual consequences will vary and depend on the specific loan provider who provides your loan. The loan provider may initiate collection procedures and your credit score may be adversely affected if your payment obligations are not met. Your debt may be placed with a collections agency who may take any collections actions allowed by law.