1. Can I apply for a loan if I do not have good credit history?

Yes, our lending decisions are based on many things. The most important being a secure income and the ability to afford the loan repayments in a sustainable manner.

What marks us out as different from other lenders is that we will consider all circumstances when deciding whether or not to lend. Some of our most trusted customers have previously defaulted on previous credit agreements and have been refused credit by several other lenders. We will actually take the time to consider your circumstances and whether we can work out a suitable loan with manageable repayment options.

However, we will run credit and affordability checks on all new customers and we will not accept anyone who has been declared bankrupt, entered into a Debt Relief Order, or has IVA’s on their credit file.

2. What criteria do I need to fulfil to be approved for a loan?

To qualify for a loan, you must be a UK resident over the age of 18 at the time of applying, be in either part or full time employment, and get paid regularly. You must also be able to provide bank account and debit card details.

3. How do I get my money?

Once you have been accepted for a loan and digitally signed your credit agreement we will send the funds to your bank account. In 95% of cases you will receive your loan within 10 minutes of signing this agreement. Sometimes this can take longer if you bank with a building society or your bank does not process Faster Payments.

Some banks Faster Payment facilities close down from 1pm on Saturday. Therefore, if you apply for a loan after this time you may not receive the funds until Sunday morning.

4. How do I pay back my loan?

The vast majority of our loan repayments are automatically taken from your bank account on scheduled repayment dates using the continuous payment authority. We will always make sure we remind you at least 3 days before we are going to take the payment and you only need to let us know if you want us to cancel this payment method.

Alternatively, if you wish to pay us directly via a bank transfer you can do so by quoting your loan referring in the payment to:

Account name: Fast Loan UK

Account number: 02909987

Sort code: 04-00-72

You can find your loan reference by logging into your loan portal. Alternatively, your Customer Care Manager will be on hand to provide you with this.

5. Will borrowing from Fast Loan UK help my credit rating?

This will depend on how you use our service. If you take out a single loan from us over several months and make all your loan repayments on time, this will show other credit providers that you are good at repaying your credit agreements, which could increase the likelihood of them providing you with credit facilities. Repaying credit agreements on time and having access to credit is always good for your credit score. However, it's important to remember that taking several short-term loans could be harmful to your credit file, as It could show other lenders that you are reliant on borrowing to manage your finances. 

If you take out a loan and miss payments, or default on the loan, this will also have a negative effect on your credit score and may prevent other credit providers from lending to you.

It's also important to consider that some Mortgage providers may look unfavourably on any mortgage application if you have existing or recently paid of Short-term loans.

6. How long will it take to get a decision?

It normally takes around 5 minutes to apply online. If you meet our criteria we will aim to have someone from our Customer Care Team contact you within 10 minutes to confirm your details and take you through the next stage of your application. This will include running credit and affordability checks. If the whole process runs smoothly we aim to have the money in your account within 20 minutes of your initial application. As long as your bank supports Faster payment facilities.

If for any reason we are unable to generate a clear enough idea about you, your finances, and your ability to comfortably repay a loan from us we may ask for more details. This may include requesting to see further documents like wages slips, bank statements, or utility bills.

7. How much money can I borrow?

If it is the first time you have ever borrowed from Fast Loan UK we may be able to lend you up to £800. When you pay back a loan from us you start to become a trusted customer and will be able to borrow more the next time. Our most trusted customers are able to borrow up to £2000. Please note that although we want you to become a trusted customer, we do not encourage you to apply for more than you can afford to repay as we will run an affordability assessment on all the loans we give.

8. Will I be able to borrow again?

Yes, but Your ability to borrow again will depend on many factors, including how well you managed to repay your last loan. In any case repeat borrowing will be subject to a credit check and affordability assessment. Your credit limit may increase or decrease for return borrowing, and again will be subject to many factors which we put in place to ensure we are lending responsibly and treating you fairly.

Our Short Term loans (7-90 days) are intended for occasional use only and should not be used by customers to manage existing debt. It is important to remember our short term loans are not designed for long term borrowing and is not the cheapest option. We encourage you to think carefully before committing to any form of credit. We will continually review your lending patterns to ensure that short term borrowing is in your best interest.

If you find yourself overstretched by taking out short term loans then we would suggest you look at our medium term loan offerings (4-12 months). These loans have been designed to help spread the costs of repaying a loan into smaller weekly, fortnightly, or monthly repayments.

9. How long can I borrow for and how do my repayments work?

At Fast Loan UK new customers are able to borrow for up to 241 days (8months) and returning trusted customers can borrow for up to 365 days (12 months). We have designed our loans to be flexible for all of our customers and we will work with you to create a loan that suits you and your financial circumstances. It's easy, you simply choose how long you would like to borrow and how many repayments you would like to make in that time, whether it be weekly, fortnightly, on a monthly basis, or in one payment.

Please bear in mind customers of Fast Loan UK are given internal credit limits which determine the suitability and acceptance of a requested loan. We may have to work with you to adjust the loan amount, period, and number of repayments relative to your credit limit and risk factor.

10. Will I be credit checked?

Yes, a Soft Search using a Credit Reference Agency (CRA) will be run at the outset of the application. This will give us an idea of whether we can look to proceed with the application or not. This search will not show up on your credit file as a mark or negative factor but rather aid us in our decision making in a less intrusive manner.

If the applicant is pre-approved a Hard Search will be run using a CRA. Please note that this will appear on your credit file for other credit providers to see.

We will also run Soft Searches on returning customer applications.

11. What happens if I struggle to pay back the loan?

We understand that from time to time customers may have a change in circumstances affecting their ability to repay their loan in a sustainable manner. If this is the case your Customer Care Manager will work with you to resolve the problem.

If you think you may struggle to pay back your loan you should contact your Customer Care Manager prior to the repayment date with details as to why you may have problems repaying the loan. For customer experiencing unexpected financial hardship we are able to freeze interest and offer affordable repayment plans. Please do not take a loan from Fast Loan UK if you do not think you can repay it on the repayment dates. Doing so may result in you incurring extra default and recovery costs as well as damaging your credit history. Click here for some hints and tips on how to reduce personal debt and how to organise monthly finances.

Below is a list of free and independent debt counselling organisations that can also help you if you fall into financial hardship:

Citizens Advice


 Tel: 0800 144 8848


National Debtline


Tel: 0808 808 4000


Money Helper


Tel: 0800 138 7777




Tel: 0800 138 1111

12. How much will a loan cost me?

The amount of interest you pay will depend on how much you borrow, and how long you borrow it for. As a rule of thumb the daily interest rate drops as the length and size of the loan increases. However, you will generally pay more in interest if you take a larger loan out over a longer term, but this will generally be more affordable, as you will be able to spread the cost of repaying the loan out over several repayments.

The cost of a loan from us will never be higher than 100% of the amount borrowed This is our interest rate table which shows the daily interest rate for all loans we can issue to new customers

Amount borrowed

Daily interest
(7 - 27 days)

Daily Interest
(28 -56 days)

Daily Interest
(57 - 100 days)

Daily Interest
(101 - 160 days)
Daily Interest
(161 - 185 days)
Daily interest
(186 - 208 days)

Daily interest
(209 - 241 days)





0.45% 0.41% 0.41%






0.45% 0.41% 0.41%






0.40% 0.38% 0.38%


£360 - £609




0.40% 0.36% 0.36%


£610-£1009 0.40% 0.40% 0.40% 0.36% 0.28% 0.25% 0.22%
£1010-£2000 0.40% 0.40% 0.34% 0.28% 0.24% 0.19% 0.19%
13. What is the APR?

Annual percentage rate (APR) represents the interest and fees used to repay a loan, calculated on an annual basis. This percentage may seem high if borrowing for between 7 and 56 days, but it is important to remember that APR is primarily used for the mortgage market, and is quite useless in determining the true cost of a short term loan.

For instance, if you borrowed £100 from us for a week, you would need to pay back £105.60. However, the APR on this would work out a 1614%, but in reality you would never get near to paying over 1600% in interest, as our loans are capped at 100% of the value of the loan.

As a rule of thumb the shorter the lending period the greater the APR, but do not let the media confuse you into thinking that you will actually pay back thousands of percent in interest.

14. How long can the loan be repaid over?

Our loans are designed to be flexible for all our customers. Our Customer Care Managers will work with you to develop a repayment schedule that is suitable and sustainable to your circumstances. Our customers are able to repay their loan in one full payment, or alternatively in smaller weekly payments during their loan period. At Fast Loan UK we lend for a maximum of 365 days or 52 weeks.

15. Do you accept self-employed?

Yes as long as you are able to prove your income.

16. Can I pay off the loan early?

Yes, and you will only be charged interest for the days you borrowed + a £20 early settlement fee (subject to this not taking you over 0.8% daily interest charge). You would need to contact your Customer Care Manager, or us contactus@fastloanuk.co.uk if you would like to do this.

17. How can I make a complaint?

If you are not happy with any part of our service please contact your Customer Care Manager or our Customer Services department by emailing complaints@fastloanuk.co.uk. If we cannot resolve the complaint, then you may ask the Financial Ombudsman Service to consider it. You can view our full complaints procedures here.

18. What is a continuous payment authority?

A continuous payment authority is a type of regular automatic payment that you can set up using your debit or credit card. The authority is linked to the bank account or credit card account that your card is linked to.

A continuous payment authority authorises the lender to withdraw sums from the borrower’s nominated bank account using debit card details, subject to specifically agreed terms which are fully disclosed and agreed through the loan application process, but not through a direct debit, standing order or similar payment mechanism.

Once agreed by a customer, a CPA allows a business to take a series of agreed payments using a customer's debit card or credit card without having to seek express authorisation for every payment. CPAs are often also used to collect renewal payments for things like vehicle breakdown services, insurance policies, gym memberships, online dating, mobile and broadband services or magazine subscriptions. CPAs provide an efficient and convenient payment method for customers. It is important, however, that you are fully aware of the commitment you are entering into when applying for and accepting the offer of a loan from Fast Loan UK.

We do not accept Continuous Payment Authorities linked to credit cards.

All card payments are PCI compliant and processed at our Head office: Enterprise Office, 73 Blenheim Way, Bragbury end, Stevenage, Hertfordshire, SG2 8TD. Quarterly security scans are run by Security Metrics on our network to ensure the integrity of our security measures.

Proud to offer the cheapest instant short term loans in the UK

Compare our loans to other lenders here

Warning: Late repayment can cause serious money problems. For help, go to moneyhelper.org.uk

Representative example:

Borrow: £300 over 8 months. 8 repayments of £70.31. Total amount payable £562.44. Interest rate: 130.21% pa (fixed). Representative APR: 840.75%