We know customers want to access funds quickly and conveniently when they need them most, with many looking at direct payday lenders who offer quick finance. Whilst many payday loans online require you to repay by your next salary date in full, here at Fast Loan UK, we offer a slightly different approach to the traditional payday lenders. If you’re looking for short term finance between £50 and £2,000, we have flexible repayment options that allow our customers to pay back in one go if they want to, or over a slightly longer period repaying weekly or even monthly. Interested? Then click apply now and we can provide a quick decision on a payday loan alternative that provides exactly what you’re looking for but with added convenience.
Direct payday loans are designed to be a short-term finance option that, as the name suggests, is then paid back in full on the applicants next salary date. These can be ideal for those that find themselves short on funds in between pay dates and have an essential expense that needs to be paid before their next one. However, as they are a form of high cost short term loan, the interest amount can be high especially if the loan is not paid back on time, meaning those that struggled to repay could face high interest charges. Regulations within the payday industry from the Financial Conduct Authority (FCA) have been put in place to ensure the practices of some direct payday lenders who profit from these high-interest charges and fees are not excessive.
Here at Fast Loan UK, we setup 9 years ago with the aim to give customers a trusted choice within the short term loan market. With the culture of doing the right thing for our customers and providing transparent, ethically, and socially responsible short term lending, we offer a convenient alternative to traditional direct payday lenders. As one of the first UK lenders to be given full authorisation by the FCA to operate in the UK, we have strived towards putting our customer’s needs first, keeping to our mission and values.
As a trusted payday loans online alternative, at Fast Loan UK we provide same day funding once approved; in many cases within just 5 minutes of digitally signing your agreement with us. Every customer is assigned a personal Customer Care Manager who will be able to help with the application and any queries you may have. With this personal approach, we are in a position to fully assess your ability to pay and go beyond a system-generated decision, as we understand everyone is different and may not have a perfect credit rating. It all starts by clicking apply now and we can get started on finding a quick solution to payday loans for you.
Convenience is key for those looking for direct payday loans online, and at Fast Loan UK, we have designed our application process to be fast and efficient so you can benefit from our alternative payday lender option as quickly as possible. All applicants will need to meet the following eligibility requirements before starting an application:
If you can meet the above criteria, we are more than happy to help, just click apply now and we can start to assess your application for alternative payday loans. As part of your application, we will require additional information, such as your income and expenditure and 3 years of addresses, to form our decision, starting with filling out our easy to use application form.
You will need to determine the amount you wish to borrow, the frequency of repayment and how many repayments you want to make. We can then provide a quick decision in principle based on this information, then a Customer Care Manager will be assigned to you to confirm a few details. This process should take no longer than 5 minutes and they will call you for a quick chat around your affordability. Sometimes, if we have the information we need from the Credit Reference Agencies (CRA) we use, we may not need to call you. Then once this is all provided, we will send you a digital loan agreement to sign. As soon as we have this back from you, we can transfer the agreed funds into your bank account within just 15 minutes. Click Apply Now to start your application for a quick agreement on direct payday loans in principle.
Our alternative payday loan repayments are collected using a continuous payment authority (CPA), which means we will directly withdraw the agreed repayment amount automatically from your bank account on the scheduled repayment date. All you will need to do is ensure you have available funds in your bank account for this to go through and to help we will send you a reminder at least 3 days before the payment due date. If you prefer, you can cancel the CPA and pay by direct bank transfer, but you will need to speak to your Customer Care Manager to arrange.
If you are a new customer, you can borrow for a maximum of 241 days (8 months) and choose the frequency of repayment to be weekly, fortnightly, or monthly. You can also choose to pay back one payment just like with traditional direct payday lenders. For returning customers, you will be able to apply for a loan up to a maximum repayment term of 365 days (12 months). We recommend customers to choose repayment terms that will enable them to clear the balance quicker rather than choosing the maximum term available.
Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.
We offer flexible terms on direct payday loans up to a maximum of £800 if you are a new customer to Fast Loan UK. The reason this is capped for new customers is that we need to ensure that you can repay your first loan with us at a lower amount so you can then become a trusted customer of ours. If you then decide to borrow again from us, you will be eligible to apply for up to £2,000. We take responsible lending seriously and do not encourage customers to apply for the maximum available to them, only what you can afford to pay back.
As part of your application, we will run a credit check using a CRA to provide us with an overview of your current financial situation. To begin with, this will be a soft search and will not show up on your credit file. If you are pre-approved based on this, we will then require a hard search of your credit file which will show on your records. This will form part of your application for an alternative direct payday loan through us but will not be the only deciding factor on our decision to lend.