Frequently Asked Questions
Payday loans or cash advance loans can help you overcome a short term financial crisis, offering you the peace of mind that you can slove your problem. Whether it be paying for your central heating boiler to be fixed, car repairs or anything else that needs to be resolved quickly!
I need to know.
- Who can qualify for a payday loan?
- Do they work for me?
- How much can I borrow?
- What does it cost?
- Do I have to repay the loan in full when I next get paid?
- How is the loan repaid?
- How do I get a Payday Loan?
Who can qualify for a payday loan?
- You will need to have an active bank account with a valid debit card.
- You must be working and earning at least £750 per month.
- Your income should be paid monthly direct into your bank account.
- You must be a minimum of 18 years old.
- You must live in the UK.
- It is also a requirement that you have a valid email address, landline and mobile telephone.
Is a payday loan right for me?
A payday loan is a good choice for anybody who needs some extra money to over come and short-term financial problem. Such as:
- Emergency car repairs.
- Emergency boiler repairs.
- A burst pipe.
- Replacing a dead washing machine.
- Any other emergency situation.
How much can I borrow?
You can borrow any amount between £80 and £750, so long as you can afford to repay it. Our lenders charge a flat fee of £25 for every £100 borrowed and there are no other costs! If you want to know how much you can borrow simply complete our quick and easy application form. You will have a decision in minutes and could have your cash today!
What does it cost?
Most of our lenders charge a flat fee of between £29 and £30 for every £100 borrowed, which means you know what your loan will cost before you apply!
| You Borrow | You Repay £25 * | You Repay £30 * |
|---|---|---|
| *Payable in one payment on your next payday | ||
£80 |
£103.20 |
£104 |
£100 |
£129 |
£130 |
£200 |
£258 |
£260 |
£300 |
£387 |
£390 |
£400 |
£516 |
£520 |
£500 |
£645 |
£650 |
£600 |
£774 |
£780 |
£750 |
£967.50 |
£975 |
Do I have to repay the loan in full when I next get paid?
Our lenders do appreciate that in some circumstances you may need to spread the cost of the loan over another month or so, this is what is known as a deferral. You should remember though that the loan works best for you if you repay it all within the given timeframe. If for some reason you do need to let it run for another month you should at least pay off the interest charge, and if you can afford to pay more you should repay as much of the capital as you can. This will then reduce the amount of interest that you pay for the following month. You should also contact the lender and discuss your situation with them before they try to take the whole amount back!
How is the loan repaid?
The lenders have made this really easy for you!
On the day that is agreed with you when the loan is arranged, the lender will debit the full amount outstanding from your debit card. This is why it is important that you contact them should you need to defer payment for any reason.
How do I get a payday loan?
Applying for a payday loan is also a quick and painless process, simply complete our secure application form and get your response in minutes. Also because we are a broker with direct links to numerous lenders we are not just looking at one product but in fact looking at all the lenders that we deem worthy to do business with. This gives you a greater chance of getting your loan approved first time.
2949% APR Representative
Based on a total loan of £275 for a period of 28 days at a fixed rate of £29.95 per £100 borrowed (which is a fixed annual interest rate of 359.40%), the total amount payable in one lump sum payment on your next pay day would be £357.36 and the representative APR would be 2949% APR.
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