Being turned down for a loan after you’ve gone through the (sometimes long and complicated!) application process is frustrating and disappointing, particularly if you want to get the money as soon as possible. There are some loan companies, however, that offer instant short-term loans to people with a bad credit rating or with a not-so-perfect credit history, making your chances of being approved higher.
If you are in a desperate situation, for example you need to repair your car urgently, pay for emergency medical treatment, want to take advantage of a time-limited special offer for, say, a holiday, or just need a bit of extra money for living expenses until you get paid, payday loan UK is a great option.
Online Payday Loan UK VS Regular Loans
Online payday loans in the UK are similar to loans offered by traditional lenders. However, the similarities are limited. With a payday loan UK, there is no need to arrange lengthy appointments with a lender, provide personal documents, complete long and complicated forms, wait for credit checks to be done and documentation to be submitted to someone for review. The benefit of not having a credit check done means, apart from saving time in the application process, applicants with a history of bad credit are more likely to be approved for a payday loan UK rather than a regular loan.
You can use a payday loan UK for whatever you want. Unlike in the application process for regular loans, you don’t have to specify the reason you need the money.
Interest rates on the amount borrowed through a payday loan UK are generally higher than for regular loans. This is due to the short-term nature of the loan, the increased risk to the lender and the speed at which the funds are available to the applicant.
Payday Loan UK Instant Approval
It is a common problem for individuals who get paid monthly that most of the salary gets spent in the first couple of weeks on bills and living expenses. So, if something unexpected comes up when your payday is still a week or two away, you need money immediately. That’s when a payday loan UK would be useful. As the application process is done online, it is usual to get instant approval when you have reached the end of the that process.
Application Process for a Payday Loan UK
You are likely to get your personal payday loan UK immediately, right after you’ve gone through the application process. The procedure is easy. Just look through the internet and find a suitable payday loan UK lender and go through the application process online. You don’t need to complete a stack of complicated forms and sign lots of documents. There are loads of benefits to getting a payday loan, but the main one is the quick and easy way of getting the money you need. The application for a payday loan UK is simple and the process is quick – most payday loan UK applications are done online so you don’t even have to leave the comfort of your own home. Once you’ve done that bit, everything else will be done by a lender and, depending on which company provides the payday loan UK, the money can be in your account within minutes. There is no strict deadline when you need to pay off the loan but, as the name payday loan UK suggests, it is a common choice to pay the money back on your next pay day and that will be agreed during the application process.
How Does Payday Loan UK Work?
You can borrow between £50 to £1000 for up to 30 days. All costs are clearly explained during the application process. There are no hidden fees.
To be eligible for a payday loan UK, you must be 18 years old, a UK citizen, have proof of regular income, a UK bank account and a social security number.
With the help of payday loan UK, thousands of people manage to deal with their difficult financial situations quickly and easily with little hassle.
Real Life Payday Loan UK Testimonials
- Jason urgently needed a small loan of £380 so he could get his car repaired for his daily commute to work. He filled out the online application and got the money the same day. He paid back a total of £460 on his next payday.
- Kirsty needed to borrow £600 for a weekend away, she applied online on her lunch break and had the money in her account within the hour and was able to book the trip the same day. She paid back a total of £680 28 days later.
- Emily was in need of £230 to pay some overdue bills which had gone unnoticed. Knowing the final payment date was approaching before her payday she applied for a small loan and resolved the issue within 24 hours. She paid back £275 on her payday.
- Aaron desperately needed to borrow £170 for an emergency home repair. He applied and had the money in his account in 20 minutes upon approval. He paid back a total of £220 2 weeks later.