Representative APR 1272% (Variable)

Representative Example: Borrow £250 for 90 days. Total amount repayable is £411.63. Fixed interest rate of 292% per year.

No Fuss, Credit Check by Direct Lenders only!

As we at are not a direct lenders nor a direct brokers. We simply provide online loan match service through this portal. We have no role in direct funding and we do not check credit score at our level. But as per FCA regulation now every direct lender is bound to perform credit check on you to assess your loan suitability and loan affordability.

Credit check is part and partial of every loan approval. As per regulation 'no credit check payday loans' is not possible, this is fake promise to attract borrowers. You should think positive about credit check because this is for welfare of borrowers only. If you take loan beyond your repaying capacity, then how will you repay it? This type of over borrowing can be trap you in spiral lending and may disturb your mental peace.

Keeping above points in mind regulator has put a mandatory provision for checking of credit score and ensure suitability and affordability of the loan.

How much time takes in credit check?

Today's world is of internet and high level of technology like 'artificial intelligence' which is capable of doing a lot of manual work in very quick span of time. Direct lenders have invested big amount to automate loan procedure, now they are capable of taking faster loan decisions. Person's credit score is available on internet 24/7 so credit check is not a time taking job.

What is my credit is found poor?

Credit score check is essential part of loan underwriting but this gives only past loan history of the person. As we know payday loans are short term loans and are to be paid in next payday, so current loan affordability play major role in loan approvals by direct lenders. If your loan amount is small enough in comparison to your monthly savings, and you can easily repay the loan in coming payday then loan acceptance chances are high.

What is importance of credit check in loans?

The credit check of borrower before loan approval is beneficial to lenders as well as borrowers, how?

Lender's point of view By performing credit check lender can know the past loan repayment history of the borrower, this will help him in valuating defaulter risk of loan. If he found additional risk of his money, he can take action accordingly. Now He may take any one of followings.

  • 1. If lender found enough evidence that present financial status of the borrower is sound and he will have no difficulty in repayment the amount in question, he may approve the loan in normal interest rate.
  • 2. Lender may charge high rate of interest to compensate his increased risk.
  • 3. If lender found that borrower can not afford this amount he may offer lower sum.
  • 4. Last option with lender to reject this loan.

Borrower's point of view In a survey it is found that many of UK's young citizens (age 20 to 35 years) able to know their credit score at the time of their first loan only. So this credit check no matter this is excellent, poor or bad gives an opportunity to know the borrower the truth.

If credit score is found good then it is should needed to maintain. If it is bad or poor then borrower should take steps to improve it. For more about Bad credit score improvement tips you can visit under heading "How to improve Bad Credit?".

So no need to try to bypass credit check from direct lenders, you should know the truth and prepare your self accordingly.

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.

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