If you have a short-term cash flow issue but are faced with an urgent bill such as a broken-down boiler or emergency car repairs, Fast Loan UK can help with our £500 loans. We are a £500 loan direct lender, meaning you will not have to pay any broker fees, and are completely transparent upfront about all costs involved in our 500 pound loans. When you borrow £500 loans in the UK from Fast Loan UK, you will be assigned a personal Customer Care manager, who will be your direct point of contact throughout the duration of your entire loan period. Apply for a £500 loan today and receive an instant decision.
At Fast Loan UK, our £500 loans are offered as medium-term, unsecured cash loans from a direct lender. We’ll run through what this means for you term by term.
Medium term: If this is your first time taking out a loan with us, the maximum amount of time you can take to repay the amount is 241 days (8 months) while returning customers may take up to 12 months to repay their £500 loans. You can repay your loan more quickly than this, with short-term borrowing periods as little as 7 days, and it will work out cheaper overall if you do choose to do this. This offers you much more flexibility than a traditional £500 payday loan, and can make the repayments more manageable than one lump sum on your next pay date. We also do not charge early repayment fees and if you decide to pay off your loan before the original agreement, all you need to do is speak with your personal Customer Care manager.
Unsecured: As an unsecured loan, you do not need to put up any collateral such a house, car or other valuables in order to be approved for our £500 loans in the UK. While opting for secured loans can sometimes lower the cost, they are a higher risk to you as your collateral may be repossessed if you do not keep up with the repayments. You can be approved for our 500 pound loans even if you do not have any collateral to offer.
Direct lender: Fast Loan UK is a £500 loan direct lender. This means that if you are approved for a 500 pound loan, we will pay the full amount directly to you, with no middle man. The alternative to this is going through a broker, which usually involves an extra fee on top. When you borrow a £500 loan from us directly, there are no brokerage fees to pay.
Applying for a £500 loan with Fast Loan UK is a simple, quick and easy process, and everything can be managed from your mobile phone, which is great if you need to apply for a 500 pound loan in an emergency, such as to pay for an unexpected car repair so you can drive away from the garage. To apply for our £500 payday loans, you must meet our eligibility criteria:
• Aged 18 years or over
• Resident in the UK
• Be in full or part-time employment or self-employment
• Receive a regular income
• Have a valid bank account and debit card
If you meet our criteria, you are welcome to apply with us as £500 direct lenders. Filling in the application form for our £500 loans in the UK can be done online from a computer, laptop, tablet or mobile device. On our application page, drag the dot along the bar to select the £500 loan amount. Next, choose whether you would like to repay your loan in one payment or by weekly or monthly instalments, as well as how long you need to borrow for. As you change this, you will be able to see what your weekly or monthly instalment amounts would be, as well as the total cost of the loan, so it’s easy to find an option that works with your budget.
Once you have applied, we will run the necessary checks with our credit reference agencies (see more on this below). If your credit file does not give us all the information we need to process your 500 pound loan application, you will receive a call from your personal Customer Care manager, taking around 5 minutes of your time. Once we have all the information we need, we will provide you with an instant approval decision. If approved for our £500 loan direct lender service, you will be given a digital loan agreement to read and sign, and will receive the full £500 in your bank account within 15 minutes.
At Fast Loan UK, we work with you to make repaying your £500 loan as easy and stress free as possible. We start by allowing you to choose which day of the week you would like to make your payments if you have chosen weekly repayments. For monthly repayments, you can decide between the last Friday or last working day of the month, every four weeks or on a set date. This allows you to schedule the 500 pound loan repayments for when you know you’ll have enough money in your account. However, we believe flexibility is key in offering a great service, so if you need to move the odd repayment here or there for any reason, you can simply get in touch with your personal Customer Care manager.
We will set up a Continuous Payment Authority to collect the agreed repayment amounts on the days or dates you have chosen. With this, you won’t have to worry about forgetting to make a repayment on our £500 loans in the UK, as the instalment will leave your bank account like any other direct debit. We’ll never surprise you by changing the repayment amount or changing the interest rates during your loan term. However, you can also choose to pay us directly via bank transfer if you wish.
As a £500 loan direct lender, we don’t throw extra charges or fees on top of your loan amount – what you see is what you’ll pay. If you don’t make a repayment as agreed, and don’t speak with your personal Customer Care manager to rearrange the payment, you may be liable to pay a one-off default fee, which is capped at £15. However, we will work to help you avoid defaulting on the loan first.
You also have the full flexibility to repay your £500 loan early in full if you find yourself in a position to do so. This will make the total cost of your loan cheaper, as we’ll only charge interest until the day you finish paying off the loan. We also won’t charge you any extra fees for doing this, unlike many £500 payday loans on the market. All you’ll need to do is speak with your personal Customer Care manager, who will be happy to set it up for you.
At Fast Loan UK, we want to be able to offer our £500 loan direct lender services to as many people as possible in a fair and transparent way. Although performing a credit check is an important part of our decision process, having a low credit score does not automatically mean you will be turned away from getting a 500 pound loan with us. We will also look at your income and regular outgoing payments in order to determine whether you can afford the repayments of a £500 loan in the UK with the terms you have selected.
Your application for a £500 loan can only be approved if we are certain that you will be able to afford the loan repayments alongside your regular outgoings such as your rent or mortgage and existing direct debits and have some extra money left over. As responsible lenders, we take our customers’ financial situations very seriously and will not approve 500 pound loans for anyone where it is likely to lead them into financial difficulties. Our £500 payday loans are designed to be used in the case of short-term cash flow issues, and are not suitable as a long-term solution.
If you would like to find out more information about Fast Loan UK £500 loan direct lenders, our representatives are available 7 days a week via phone and email. Contact us today and we will provide you with all the information you need to decide if a £500 loan from Fast Loan UK is the right choice for you.