The cost of borrowing £300 over 6 months:
#1
Fast Loan UK
£507.48
#2
Mr Lender
£544.00
#3
Cashasap
£556.23
#4
Lending Stream
£579.00
#5
Money Platform
£586.26
#6
Savvy
£595.00
#7
QuidMarket
£596.46
#8
Cash4unow
£599.82
#9
Fernovo
£595.92
#10
Ticket Loan
£595.92
#11
Loan Pig
£595.92
#12
Moneybag
£600.00
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%
Payday Loans
When unexpected expenses arise, finding swift and convenient access to funds becomes crucial. That's where Fast Loan UK steps in, revolutionising the concept of quick payday loans from direct lenders. Unlike traditional direct payday lenders that often demand full repayment by your next salary date, our approach sets us apart.
At Fast Loan UK, we understand your urgency for short-term financing ranging from £50 to £2,000. Our distinct advantage lies in the flexibility we offer in repayment options. You're in control, with the choice to settle the loan in one payment if preferred, or opt for a slightly extended duration, making weekly or even monthly repayments feasible.
Gone are the days of rigid payday loan structures. As direct payday lenders, we prioritise your convenience and peace of mind, ensuring a seamless application process. Click Apply Now to start your journey with Fast Loan UK – where quick payday loans from direct lenders meet tailored flexibility, providing precisely what you need, precisely when you need it.
What Are Direct Lender Payday Loans?
Payday loans from direct lenders provide a quick-fix financial option, tailored for short-term needs and intended to be repaid in full on the applicant's upcoming salary date. When financial gaps emerge between paychecks and urgent expenses demand immediate attention, direct payday loans step in as a lifeline. These short-term loans may prove invaluable for addressing important costs that can't wait until your next paycheck. However, it's essential to note that due to their nature as high-cost, short-term loans, the interest rates can escalate, particularly if the repayment isn't met promptly. This scenario could potentially lead to substantial interest charges, especially for those struggling to meet the repayment terms.
When Should I Apply For A Payday Loan?
When unforeseen bills or essential payments arise, causing financial strain, our quick loans may be able to help. The current economic climate has brought challenges for many, making it vital to have access to quick, dependable options. Our commitment to swift processing, coupled with flexible repayment plans, ensures that you're never left stranded amidst financial uncertainties.
Whether it's a medical emergency, a broken appliance, or a pressing bill, our tailored approach provides the relief you need. Applying for quick payday loans from direct lenders like us is a strategic move that may help you regain control and alleviate your financial stresses, ensuring your needs are met promptly and efficiently.
How Do I Apply For A Payday Loan?
At Fast Loan UK, we've crafted an application process that's not only efficient but also swift, ensuring you can harness the benefits of our alternative quick payday loans promptly. Our priority is to make the experience seamless, catering to your urgent financial needs without unnecessary hassles.
We have some eligibility criteria that need to be met:
- Age Requirement: You must be 18 years or older.
- UK Residency: You should be a current resident of the UK.
- Employment Status: Full-time, part-time employment, or self-employment is necessary.
- Stable Income: Regular income should be a part of your financial profile.
- Banking Details: You should have a bank account and debit card.
As part of the application process, we'll gather vital information such as your income and expenditures, along with your address history spanning three years. This data forms the foundation of our decision-making process. You'll be required to specify the loan amount, repayment frequency, and the number of repayments you're comfortable with.
Following this, we'll offer a rapid decision in principle, taking into account the details you've provided. A dedicated Customer Care Manager will then be assigned to guide you through a quick affordability discussion. If we have the necessary information from the Credit Reference Agencies (CRA) we utilise, a call might not be required.
Once these steps are successfully concluded, a digital loan agreement will be sent your way for signing. As soon as we receive the signed agreement, we'll initiate the transfer of your loan to your bank account within a mere 15 minutes - it doesn't matter if you've chosen our £100 loans or our £1000 loans, the funds will be there after you've been fully approved.
Fast Loan UK isn't just about speed; it's about empowerment. When you choose us, you're opting for a modern payday loan alternative that embraces convenience without sacrificing transparency. Begin your journey now by clicking "Apply Now" to access quick decisions on direct payday loans, guided by our dedication to your financial comfort.
Payday Loans FAQs
Will a payday loan need to be paid on my next salary date?
Embracing the flexibility you deserve, Fast Loan UK ensures payday loan repayments are as accommodating as possible. While the option to repay after 1 month or on your next salary date is available, it's not obligatory. With our authorised direct lender loans, we can offer terms of up to 8 months for new customers and up to 12 months for returning ones. Our loan calculator empowers you to gauge monthly costs, enabling informed decisions tailored to your needs.
Can I apply for a payday loan using my smartphone?
Absolutely, you have the convenience of accessing our website directly from your smartphone or tablet, providing you with the flexibility to apply wherever you are. Navigate to our website on your smartphone today to initiate your application for one of our quick payday loans within minutes. Upon approval, you can even electronically sign your loan agreement, expediting the process to swiftly receive the funds.
Do quick payday loans cost more?
Just like any loan, assessing suitability and affordability is crucial for quick payday loans from direct lenders. Operating under the oversight of the FCA as direct payday lenders, our practices adhere to responsible lending guidelines. High-cost short-term credit mandates a pragmatic approach; opt for the shortest feasible term, suitable for emergency scenarios rather than long-term borrowing. The 2015 FCA price cap guarantees that interest and fees will not exceed 0.8% per day, default fees capped at £15, and total repayments won't surpass 100% of the loan's value.
What regulation is there for payday loans?
The payday loan industry, overseen by the Financial Conduct Authority (FCA), adheres to stringent regulations to ensure consumer protection and prevent excessive charges for short-term borrowing. When comparing lenders, it's crucial to opt for FCA-approved direct payday lenders that promote responsible lending practices. FCA-registered lenders like us possess full UK licensing for lending and consistently prioritise customer well-being. To confirm legitimacy, look for a lender's authorisation number displayed on their website, cross-referencing it with the FCA register – our reference number is 673907.
What is the best payday lender?
Identifying the best payday lender is context-specific, contingent on your individual circumstances. Lenders typically offer akin borrowing options, so the ideal choice aligns closely with your requirements. If you seek same-day funds, flexible repayments, and the assurance of a trusted, FCA-approved payday loan direct lender, Fast Loan UK is at your service. Prior to application, it's wise to compare loan offerings, ensuring thorough awareness before proceeding.
Will you as a direct lender perform a credit check?
Yes, conducting credit and affordability assessments is a crucial component of our lending criteria. As an FCA-approved payday loan direct lender, credit checks are mandated by regulatory guidelines. If you're concerned about a low credit score, we may still assist you if the loan remains affordable for you. Our commitment to responsible lending entails comprehensive checks before finalising any loan agreement.
Will my bad credit rating get worse with a payday loan?
Generally, being declined for credit can impact your credit rating. To address this, many lenders utilise pre-approval processes involving a soft credit search. This approach swiftly identifies eligible candidates without affecting their credit score. Unlike a hard search, a soft search does not leave a mark on your credit file. While quick payday loans won't inherently worsen your rating, it's crucial to adhere to agreed repayments and meet deadlines.
Am I guaranteed to be accepted for a payday loan?
No payday loan direct lender can guarantee approval until comprehensive checks are conducted. Our approach differs, as we assess affordability instead of solely relying on credit scores. As long as you're not currently bankrupt and can demonstrate affordability, we may assist you. However, ensuring your ability to afford quick payday loans from direct lenders is essential before application to minimise the risk of rejection.
Do you charge additional fees?
At Fast Loan UK, transparency is paramount; we refrain from hidden fees. The costs of any payday loans from direct lenders like us are fully disclosed, with interest charged only for borrowed days. Any default charges are capped at £15, and no fees apply for late payment, application, or processing. For a glimpse into potential loan costs, our quick payday loan calculator empowers you to make informed decisions before proceeding.
I need a payday loan quickly, can you help me?
Yes, we prioritise fast loans for those facing financial emergencies. Our streamlined process ensures swift access to funds. Completing our online application takes just a few minutes. If approved, you could have the funds you need on the same day, within as little as 15 minutes of signing the agreement. Our name says it all – at Fast Loan UK, we're committed to providing rapid financial solutions. Waste no time; apply now to kickstart your loan application journey and potentially secure the funds you require within minutes of approval. Enjoy our fast services as a payday loan direct lender.