Payday Loans UK

Frustrated looking for your Payday Loans UK?

We have the answer. Here at Your Payday Loans UK, we’ve teamed up with eighty of the top lenders in the UK.  Simply submit a few details and we’ll cross reference all the payday loans uk providers and offer you the best one.

Please think carefully before taking out a loan, make sure you can repay it at the end of the month!
If you’re sure you are comfortable with it, go ahead and apply now for virtually instant results. Your Payday Loans UK await.

Payday Loans UK

Some of the big financial institutions regard payday loans uk lending as among the highest risk subsets of the high cost lending market in the UK. However, payday loans uk are ideal for consumers with a bad credit record who may be experiencing cash flow problems due to unforeseen circumstances. The loans are characterised by the small amounts (£100 – £1500) borrowed over a short-term (e.g. 7 days) and are always unsecured.

Payday loans UK are small, short-term, unsecured loans that borrowers have to repay from their next weekly/monthly salary. The loans are usually charged at a fixed fee, which represents the finance cost to the borrower. The cost of borrowing these loans, expressed as an APR, tend to be very high, from 300 to more than 1000%, due to the short term to maturity, but many consumers seem to be more than willing to pay the relatively high charges.

The origins of payday loans uk were a face-to-face operation and relied upon the borrower giving the lender a post-dated cheque, which would include the original amount plus the charges/fees for the loan. The borrower could redeem the cheque or the lender would cash the cheque. Some borrowers would extend the loan period by paying the finance charge/fee and writing a new post-dated cheque.

The internet has made the application and provision of payday loans uk a lot simpler and thus caused an explosion in payday loan provision by small and medium-sized operators, which has resulted in a reduction of the APR / fees charged by the lenders. It is worth noting that many mainstream lenders provide the wholesale funding for the specialist lenders in the payday loan sector in the UK. But, obviously they don’t want to get involved directly with the high-risk consumers and leave that to the niche players! These niche providers take a comparatively large risk in lending in this market, since the likelihood of some of their loans being written off due to non-payment is a lot higher than for the mainstream market. It is therefore not surprising that many of them still charge high fees (effectively a high APR) to cover this potential.
We at Payday Loans UK can provide a better access to the payday loan market in the UK by letting you apply online by choosing from more than 50 available lenders. The process is very easy and quick and they normally reply with a decision within an hour. It is worth noting that the providers won’t perform a credit check, so no need to worry if you have a poor credit record. The main criteria for applying for a payday loan with us are; you need to be 18 or over, be in part or full time employment (NOT temporary employment), have a UK bank account where you receive your weekly/monthly salary.
It is welcome news that the OFT (Office of Fair Trading) has recently announced a review of the payday loan market and its players in the UK. This will hopefully stop any bad apples entering the market and also reduce the number of bad lenders by exposing their abuse of the system and more importantly the desperate consumer.
We at Payday Loans UK only recommend the reputable payday loan providers in the UK that look after their customers by providing a great after-sale service and some of the lowest APRs available.
Just apply online and we’ll do the rest! The lender will notify you directly by email if your application has been successful. So, the whole process is simple, quick and pain-free!

You must ensure that you don’t over stretch yourself by borrowing in such a way that your cash flow will not be sufficient to meet your monthly living costs and the total cost of a payday loan. Unfortunately this is exactly what has been happening in the past 18 months to 2 years in the UK, which has caused politicians, campaigners and the Government to take action in dealing with the rogue element of the industry that may be taking advantage of desperate consumers who can least afford to be in even more debt with extreme levels of interest and fees being added to the original amount borrowed.