Maintaining financial discipline in life is very good; one should always keep monthly expenses well within income. But life is not like a smooth flowing river; so many things are not in our control; sudden bike or car breakdown, any urgent house repair or unexpected medical expenses are few examples which cannot be included in any pre-plan house budgeting. Of course one can save a part for such type of happenings, but everyone is not so highly monthly paid so that he can make savings. Most of salaried persons in UK are hand to mouth and do not have much savings.
Any family which have saving less monthly budgeting; if any unaccounted expense comes in their way, they have no other option than to arrange fund from other source. If they are lucky enough to take money from relatives or friends then no problem, otherwise lending is the only option.
There are so many options for borrowing in the market like banks, high street lenders, credit cards mortgage loans, auto loans and salary based payday loans.
High street lending and credit card overdraft are very costly affairs and bank loans require a lot of paper work and time. Mortgage loans are given while putting a lien on the property, where always risk of losing that. Auto loans are approved on the basis of your car or vehicles present valuation and ownership of this vehicle is transferred to the lenders, these type of funding is also known as logbook loans. If you fail to repay loan in due course of time, lender will auction this vehicle to recover their amount.
For short term funding payday loans are the best solution, as here noting is required to put under collateral as well as no risk of losing and of your valuable thing. Payday loans are disbursed for very short period like 7 days to medium term 12 month. So you can go for any repayment schedule as per your fitting. These loans can be refunded in monthly installments making them installment loans.
Suitable Payday loans searching is now very easy, you can find them even from your mobile phone. No need to visit lender’s office and waste your time and resources. You can apply from any place at any point of time as per your ease.
Payday Loan Site is one such portal where you can apply for these loans, just put few details in attached form and send it; we will never waste your time by holding your details for credit check or any verification. Our automated system will forward data to a group of direct lenders, who underwrite this application and if they required more information for loan processing they will contact you. After processing through responsible lending and suitability criteria, if they decide to fund you, money will be directly credited in your bank even same day of the application.
The basic requirements for payday loans are you must be UK citizen aged above 18, working in regular employment for at least last 6 month and salary is credited in bank account.
The main drawback of payday loans is they are costly, means their interest rates are high. So these loans should not be opted as regular lending. If you are already taken loans from other source, never ever try to repay them by this type of funding; otherwise you may stuck in loan trap.
Always loan amount should be in limit, which can be easily returned. If you fail to repay loan in scheduled date, lender may charge extra fees on interest or he may pass your case for third party collection agency and you have to pay collection charges with principal and interest.
Lender may also refer your case to credit score agency for adverse entry, this may lead to you as bad creditor or poor credit score list.
Once you come under bad credit list, you may face a lot of consequences like problems in next loan, credit card denial, new gas or electric connections and even some time in getting job or rented house also.
So if you feel your inability to repay loan on due date, inform your lender well in advance and try to reschedule your date.
Payday loans should be applied at direct lenders otherwise you may have to bear broker’s charges also. Brokers are middle man which are acting on the behalf of many lenders and sale your application to highest bidder lender. This system will delay your funding as well as raise the cost.
Finding direct lender is very easy, make Google search for direct lenders in UK, you will get a list of lending sources; now you can compare loan quotes with each direct lender then sign the deal with best one.
The other option for direct lender search is to apply with our site and get in touch of 40 plus direct lenders in one go. You can query with them and can negotiate for rates. Understood all terms and conditions are if all are ok go ahead, otherwise you are free to move for other options.
We at payday loan site are not a broker, but we are working with association of a group of direct lenders; which follow all good practices for lending in UK and all are licensed with regulator. We have no role in your credit checks or loan approvals, so we cannot guarantee about loan acceptance and disbursement time lines. Lenders are directly performing credit checks on you so we do not claim Payday loans no credit check.
Our online loan matching platform is open to all and free to use, we do not charge any brokers fee or processing fees at our end. You are under no obligation to use this website.
If any loan seeker satisfied to take loan from direct lender then we also get a small amount for our customer introduction service. This is the only source of our income; we have no other dealing with any lender.
We are not promoting any type of lending or lenders, the basic purpose of this portal to educate borrowers and explain them the pros and cons of different types of loans.
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Payday UK Latest trends Payday Loans through Brokers or Direct Lenders ....
Representative Example: Borrow £250 for 90 days. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Fixed interest rate of 292% per year. 1272% APR Representative.