Need a payday loan now? Payday Loans Net is a new direct lender offering instant and same day payday loans in the UK. Apply now for a quick and unique payday loans UK experience.
If you have run out of cash and you are searching for online pay day loans, you have come to the right place. We specialise in helping people out of tight spot by providing that extra boost of cash. We do same day payday loans, payday loans for bad credit and immediate payday loans.
How to get a fast payday loan in the UK
What are payday loans uk? More specifically, why are they named ‘payday’ loans? The name comes from their primary use; to provide people with instant payday loans to cover expenses until payday. The idea behind a quick payday loan is that they provide short-term financial solutions to those in need. Thereby, instant cash payday loans let them cover the expense on time and repay the loan for a small fee on when they get their payday cash.
There are some different options when it comes to UK loans. We’ve put them together in a clear table for you below:
|Payday Loans UK||Short Term Loans UK||Cash Loans UK|
It’s important to carefully consider which type of loan you will go for. At Paydayloansnet.co.uk, we offer all of the above types of loans with same day payout, if approved.
Need cash quick?
Apply now to get fast money.
Immediate payday loans differ from other non-payday loans in that they’re very much focused on people who need cash now or need a loan fast. As a consequence, the amount of money you can apply for is usually capped by most payday loans direct lenders. This is simply because most people shouldn’t be turning towards a payday advance if they need to borrow more than that amount. They’re specifically designed for people that say “I need a loan” as they look to pay for emergency bills before their next pay day comes in.
Here is a table of loan amounts offered in the UK:
|Type of Loan||Where to get a payday loan|
|100 Payday Loan||Payday loan lenders only|
|1000 payday loan||Payday loan providers|
|30 day payday loans||Direct lenders for payday loans|
|500 payday loan no credit check||Unavailable in the UK|
|Payday loans 1000 with bad credit||Bad Credit Payday advance lenders|
Payday Loans Online
Payday loans online are the easiest and fastest way to apply for payday cash loans. Instead of going to a payday loans store, you simply find a payday loans online direct lender. You then fill in the online application form on their website. But take care when applying for payday loan services online. Some payday lenders are unscrupulous and don’t follow the FCA regulations. For example, you might find payday loans online no credit check. Be aware that these are not legal. You should avoid any payday lenders that offer no credit check payday loans. It is better to stick to online payday loan direct lenders for the safest experience.
What is payday loan consolidation?
Payday loan consolidation is when you take out one payday loan to pay off all your outstanding installment payday loans. The obvious plus is that you now only deal with one creditor instead of several. Still, to consolidate payday loans UK using another payday loan is not normally a good idea. First, weigh out your other options and then decide if this is the right move for you.
Are Online Payday Loan Companies Trustworthy?
What sets online payday loan lenders apart from many other lending options is that you can complete the entire process online if you want to. They’re also easily accessible. But is this a good thing? More specifically, people want to know if online payday loans UK companies are trustworthy or not.
Online Payday Loans
The advantage of applying for short term payday loans online is that you can get super fast payday loans. Some direct payday lenders offer instant approval payday loans or same day payday loans. With online payday loans instant approval, you can get payday loans online same day as you submitted your online payday application. Instant payday loans online might be what you need when you are looking for payday loans same day.
But before you apply for online pay day loans, you need to consider whether you really need the money now. The best online payday loans are fast, so you need to think about your options before you apply for payday loan online.
Can’t decide if a pay day advance is the right borrowing option for you? Should you opt for payday loans UK or go for something different?
On the surface, instant online payday loans may seem like the fastest, easiest way to get money when you need cash now, especially when life throws unexpected expenses your way. They are designed to help you cover a temporary shortfall in cash, and that is why they are often called short term payday loans. Do be aware that there are some extremely high fees tied to paydayloans. If you fall behind on the payments, you can become trapped in a vicious cycle of debt which can take months if not years to escape from.
Pay Day Loans
Pay day loans are not cheap. So, as with any other expensive product, you need to evaluate if you really need loans payday. Around the globe, prices may differ hugely than payday loans UK. Take a look at a few of these examples:
|Place in the world||Rollovers allowed||Max Interest per day|
|Pay day Loans UK||2||Max £24 for every £100|
|Payday Loans Canada||0||Max $21 for every $100|
|Payday Loans Las Vegas||4||No cap on interest|
|American Payday Loans||Payday loan lenders only||Varies state to state|
|National Payday Loan||2||Max £24 for every £100|
Still, wherever you are in the world, before taking a payday loan, ask yourself the following questions:
Do you need the money right now?
You should only use internet payday loans for emergencies, as a last resort to serious financial difficulties. You’ve probably read features from other sources focusing on how much of a burden payday online loans can be. Especially since there are some payday loans UK companies that charge very high-interest fees as well as hidden charges. If, when you take a step back and look at your situation in detail, you might realise that you really don’t need the extra money from the payday loans UK now.
Are You Neglecting Cheaper Alternatives?
If you don’t have the resources to see you through to next payday, and you don’t want to strain any relationships by asking to borrow from people you know, there are still various alternatives to direct payday loans which turn out to be much more cost-effective. For example, a small, short-term personal loan will often be enough to cover your expenses, and won’t cost you anywhere near as much as an average one of your payday loans UK. Your credit score may put a black mark on you in the eyes of many creditors, but personal loans are just the tip of the iceberg regarding alternatives. If you’re new to borrowing, make sure you’re not neglecting any cheaper alternatives to payday loan companies.
Will Paying Off Your Loan Make You Fall Behind on Other Bills?
Here, we come to another dangerous factor which can drive people into the vicious cycle which keeps payday loans UK hanging over their heads for years. If you decide to take out a payday loan, you might then devote a large chunk of your income to paying it back. You can easily wind up neglecting various other bills. This will only strain your personal finances even more. It can also create the need to borrow more and more, which can be a hard loop to break. If taking a payday loan would make it harder to pay your existing bills, it’s important to explore other options.
Can you make it through to payday? Some people chew this question over many times. This is part of why payday loans UK exist in the first place! My point here is that there’s usually various other ways to leverage the sources of income you have. You can instead use your money rather than having to borrow more money. This applies whether from a quick approval payday lender or other payday loans UK options.
Yard sales, or the more current method of selling your stuff on eBay or Amazon, can be a fantastic way to free up some more cash. I’m sure you’ll agree that a lot of us own way more stuff than we actually want or need. Although it may be a little damaging to your pride, asking a close friend or family member for a loan is also a better option than going to a payday lender. If there’s another way for you to make it through to payday, I suggest you use it!
What should I do If I can’t make it to payday?
Getting to pay day can sometimes be hard as you don’t have enough money to cover your bills. But putting in a payday loan application is not always the solution. Try to consider some alternatives to payday loans. Ask yourself:
Can You Get Additional Hours at Your Job?
If asking your boss for more hours is an option, then do it. You may not want to have to spend even more time at work, and that’s understandable. However, generating more income and being able to cover whatever’s causing you trouble, without taking on any additional fees and interest, is nothing to scoff at! Yes, it takes more effort to do a shift at work than it does to click a few buttons on a website and get money put in your account. In the long term, however, taking more hours will cause much less of a strain on your personal finances, and lead to much less stress. If your boss can’t give you more hours, it may be worth looking into online freelancing or local, self-employed opportunities to generate more income.
Are You Already Dealing with Financial Problems?
If you’re already finding it hard to keep on top of your usual living expenses, then there’s a fair chance that taking out a payday loan will only serve to make things worse. The way payday loans UK companies online operate is often predatory. You face the risk of your debt doubling and your wages becoming totally decimated. Yes, you may be able to rub out the financial issues that are weighing you down right now. But, the decision could come back to bite you in a severe way. Often, it is better to formulate a plan to pay off your existing debt. Also, exercising better control of your budget for greater future stability, is the better option.
Taking a payday loan advance should never be done hastily. If you have decided that you need a payday advance loan, make sure that that you take into consideration that it is a sustainable solution.
When you’re taking out any loan, you need to make sure that you will be able to pay it back on time. If you answer “no” to this consideration when you’re mulling over any form of borrowing, then you need to put the brakes on and think about what you’re getting into. If you can’t cover the outstanding balance of payday loans UK as soon as it’s due, you’re only going to drive yourself into a worse and worse situation.
Cash running low before payday?
Instant Payday Advance Loans
Before you agree to anything for the sake of a payday loan, you need to look into the details of your repayment, fees, interest and so on. This is essential to find out how much the loan is ultimately going to cost you. You’ll need to find out exactly what your payment charges will be. Make sure to get all the details in writing.
This is where things can get tricky. If the lender isn’t totally upfront with you about all the fees involved in their loans, you can end up with a lot of extra charges which you can’t easily afford. You can do all this detective work by contacting the company and going through their online materials. But, a lot of these companies will try to step around the issue of their fees for as long as possible. It is always better to go with an honest, reliable lender that doesn’t try to hide the fees from you. But, if you just can’t find what you are looking for, it might be helpful to check some financial forums for impartial payday loans reviews.
What should I do if I can’t pay back my loan on time?
What Are the Consequences If You Can’t Pay It Back on Time?
If you’re seriously considering taking out a payday loan, it’s essential that you figure out your next steps if you miss a payment. As we’ve mentioned, this usually means a lot of unexpected charges. You will need to cover these costs to avoid getting into any more trouble. You may be looking into payday loans UK because you know you’ll be able to pay one back as soon as you need to. But, life doesn’t always go according to plan! If you take out payday loans UK, it’s essential to have a plan in place which you can follow if and when you miss the deadline. Know the maximum amount of money which you could need to pay back, and build your plans around this figure.
Can You Cancel your Loan, or Back Out Any Earlier?
Having taken out the payday loan, depending on the company and other circumstances, you may have a short period (usually a day or two) to cancel it. This depends on the country and state or province you live in. Check out the laws which are affecting your locality well in advance. Know the facts which could have an impact on your flexibility to get out of your loan earlier. Again, it’s important to do a lot of research into the particular lenders you’ve chosen, understand their terms and conditions thoroughly, and avoid any offers that are too inflexible.
Payday Loans no Credit Check
Often, people looking for bad credit payday loans will search for a lender that will give them a loan with no credit check. Payday loan lenders are not allowed to give payday loans with no credit check in the UK. Since they are deemed dangerous and unsafe, the FCA have banned them from legal, financial products. It is for this reason that payday loans no credit can only be obtained from loan sharks. It is our strong advice not to ever use a loan shark. Still, payday loans for people with bad credit can be obtained by reputable new payday loans providers, such as Payday Loans Net.
Payday advance loans are meant to provide quick and easy cash to people who need it for a short period of time. As such, they’re targeted at people that have short-term financial issues rather that financial problems that affect them in the long-term. For example, they’re ideal for someone that accidentally went overboard on their energy bill for one month and need extra funds to pay for the additional costs. They don’t get paid for another week, but the bill is due in a couple of days. In this scenario, they could borrow money from a payday lender, pay their bill, then repay their loan a few days later when they get paid. By doing this, they avoid missing a bill payment, which means they don’t fall behind and their credit score doesn’t suffer.
No credit check lenders don’t care
In short, legit payday loans are targeted at people with very minor money problems who need an extra bit of financial assistance to get them through to payday.
A loan default is when the lender tries to take the money back, perhaps multiple times, but are unable to. Many lenders payday loans will outline their process of collecting money if they are unable to collect it from a customer. Will they take legal action? Will you be hit with even more fees? You must be aware of every possible consequence. Even if you think it’s highly unlikely the loan will default, you really need to know what could happen.
If you constantly find yourself looking for places to get a payday loan to fill the gap while you wait to get paid, you definitely have a problem. You need to reassess your finances and work out a budget so that you don’t need to rely on these high interest cash advance and payday loans to make it through the month.
Pay Day UK
How Do Payday Loans Work?
A lot of people are also interested in how payday loans UK work. What happens when a loan is applied for, how does the money make it into your account? Generally, they work in a very simple way. Someone borrows a few hundred pounds from a lender for a set period. Typically, this period is no longer than a few weeks since many people only need a loan till payday. The period itself does change depending on the lender and borrower, mainly, it lasts until the borrower gets their next pay cheque.
In most cases, the lender will let the borrower pay for the money they borrowed in advance. What this means is that the borrower can write a cheque that the lender can then cash when the borrower gets paid and has enough money to pay their loan back. Alternatively, the borrower can pay for their loan via a direct bank transfer that’s configured to go through on the date of their payday. As an example, you could get your loan on a Monday, and set up a bank transfer that will automatically go through on a Friday (or whatever day you get paid on).
However, borrowers don’t only pay back the loan that they applied for. They also have to pay additional interest, which is how payday loans UK companies make money. They provide you with emergency cash that you can use as you please, and you pay interest, which is basically their fee for giving you the money.
Immediate Payday Loans
What’s The Process For Applying For a Payday Loan?
There are many types of loan out there, with each one having its own application process that you must adhere to. The big question is, is the payday loan application process long winded or easy? In short, applying for a payday loan is easier than applying for any other loan out there. More often than not, you can find an online lender and fill in an application on their website.
The application form is very basic and will ask you to include your personal information such as your address, name, and job occupation. Understandably, many lenders do not offer payday loans for unemployed individuals. Then, you indicate how much money you wish to borrow from the lender. Once everything is filled in, you submit your application and await approval. Many different lenders will offer loans within different amounts of time:
How fast can you get payday loans UK?
|Type of loan||Product||Available in the UK?|
|Payday Loans in 1 hour||Fast cash payday loans||Yes|
|24 hour payday loans||Quick payday loans online||Yes|
|Overnight payday loans||Fast online payday loans||Yes|
|One hour payday loan||Payday loans instant||Yes|
|3 month payday loans||Cash until payday loan||Yes|
|Weekend payday loans||Next day payday loans||Yes|
|Weekly payday loans||Payday loans no direct deposit||Yes|
|Payday Loan Today||Same day payday loans online||Yes|
|1 hour payday loans||Quick Online payday loans||Yes|
Payday Loans Net offers 1 hour payday loans and we also have services for payday loans open Sunday. This means that you can apply whenever you want from wherever you want and get a fast response from us.
This is the part where payday loans UK differ greatly from lots of other loans out there. While many other loans can take weeks for approval to come through, payday loans are approved within minutes. Payday Loans Net can approve your application in minutes. Then, you’re shown the details of your loan in your contract; how much you’ve been allowed to borrow, the overall cost including interest, and the date that you have to pay the loan back by. If you’re happy with everything, you can go ahead and get yourself a payday loan with the money being deposited in your account the next working day.
Easy Payday Loans
Payday loans made easy, life made simple, you made happy.
Payday Loans Net
New payday loan companies make applying for online pay day loans very easy. Whereas in the past, lenders required documentation to approve a loan, most advance payday loans lenders approve faxless payday loans. This means that you can get fast cash payday loans without having to fax over any paper work. Another advantage of no fax payday loans is that the process is much faster than the traditional method. You should only obtain easy online payday loans from an FCA authorised lender.
How Much Interest Do Payday Lenders Charge?
Most people are wary of payday loans UK as they typically have very large interest rates. Surprisingly, low interest payday loans normally have a 3 digit APR! From the perspective of a payday loan company, charging high rates is the only way they’ll make money as the cash they lend isn’t borrowed for a long time. As such, payday loan interest rates are usually set on a daily basis instead of monthly or yearly – which you get with other loans. Payday instalment loans may work out cheaper on a monthly basis, but the longer you take them out for the more you will pay.
Payday Loan Calculator
To determine how much you will pay on UK payday loans, you can use an online payday loan calculator. All you do is input the amount, loan duration and interest rate and you will get the repayments. Even when applying for fast payday loans online, always complete this step to make sure that repayments are really affordable for you.
The interest you have to pay will depend on who you’re borrowing from. However, in the UK, new regulations were enforced back in 2015 to cap payday loan interest rates at 0.8% per day. This means that you’ll never have to pay payday loan rates over this percentage, regardless of how much you borrow.
To go along with this, there are also regulations that prevent any payday lenders online from charging you more than twice the amount of their loan back. So, if you borrow £100, the loan itself will never cost more than £200.
How Much Money Can You Borrow From a Payday Loan Lender?
One of the most frequently asked payday loans UK questions is how much can you borrow from a lender? We know there are rules and regulations prohibiting the interest rates and how much you have to pay back, but, are their rules stopping you from applying for a certain amount of cash?
Ultimately, the FCA hasn’t imposed any laws restricting how much someone can borrow. In the end, it boils down to how much your lender will let you apply for. Still, most lenders have their own limit on how much they lend out to people applying for payday loans UK. On most sites, you can borrow anywhere between £50 and £1000.
It does all depend on the lender, there are some that offer more than £1000. However, you’re probably never going to find a credible lender registered to the FCA that gives out more than £2500 for a payday loan.
Instant payday Loans
If you need payday loans uk, there are a few things you need to do first. First, consider whether this is really an emergency? Real online payday loans can be helpful when you truly need one, for example you have a vet bill, medical emergency, or a broken washing machine. However, you shouldn’t consider taking one out so you can go on holiday with your friends, buy a new outfit, buy a swanky TV, or anything that really isn’t essential. These things just aren’t worth getting into even more debt over.
When you’re sure that you definitely need emergency payday loans, you need to make sure you are taking the loan from one of the best payday lenders in the UK. There are many different payday lenders out there. Some require different information to accept you for the loan, and have lots of other differences too. The fact is, they aren’t regulated, so taking money from one is always going to be a risk.
Making sure you’ve found a reliable and legitimate payday loan company is a must if you don’t want to be up to your eyeballs in unfair interest and bombarded with phone calls chasing you for money. Bear in mind that online pay loans charge more interest in a month than credit cards do in a year. If you can find another way of getting the money you need, then do that instead. Perhaps borrow some money from a close family member or friend, or see if you can get a credit card.
Payday Loans for Bad Credit
If you can’t find another way, maybe because of bad credit, then finding the best payday lender will make the situation better. With bad credit, you will find it much harder to obtain cheap payday loans online. This is because lenders will charge you more for the high risk they are taking since you don’t have the best credit track record.
Payday Loans Bad Credit
Several direct payday loan lenders will have the option to give you a cash advance payday loan even with bad credit. Even so, this is not a long-term solution. Instead, you should work on steadily improving your credit score so that you are not caught off guard again. Take into account that you are less likely to obtain long term payday loans with bad credit as this would expose the lender to much more risk than if they offer you small payday loans.
Payday Loans Near Me
Some people prefer the traditional way of borrowing – sitting down with someone else and filling out paperwork in designated payday loan locations. Luckily, some direct payday loan lenders also have shops. Although new payday loan lenders tend to be online only, you can still find payday loan help in traditional payday loan shops. If you are looking for a direct lender payday loans near you, the best thing to do is use Yell.com to find local payday loans. This website will help you find the nearest payday loan shop to you. Or you can Google ‘payday lenders near me’ or ‘payday loan places near me’ and see what in store payday loans nearby Google turns up for you!
Payday Lenders – How to Choose a the Best Payday Loans Lender
The payday loans UK industry can be very complex and full of different questions. As with anything that involves money, people want to be sure that they’re borrowing money correctly, and from reliable sources. Additionally, there are loads of features of payday loans UK that people need to understand before they consider applying for one. As a result, there are plenty of frequently asked questions that people interested in payday loans want to know the answers to.
Finding a Trustworthy Online Payday Loan Lender
In truth, there are many untrustworthy companies out there that offer payday loans UK to people online. They charge illegal interest rates and often include additional application fees, etc. However, that doesn’t mean that all online payday loan companies aren’t to be trusted. There are plenty out there that are legitimate businesses just looking to help out those in financial need.
The key is looking for things that show you if a company is trustworthy or not. In the UK, all payday loan companies must register with the Financial Conduct Authority (FCA). Look for information on a lender’s website that shows they did complete the registration process with the FCA, and you’ll know they’re trustworthy and credible. This can be seen via an FCA stamp or writing at the bottom of the page saying that the FCA has registered them under a certain number.
On this topic, it’s also important to go looking for impartial reviews of the lenders you’ve narrowed your search down to. These will usually give you some insight into their cancellation policies. It may point you towards some horror stories that will make you reconsider the idea of going to any payday lender at all!
These tips will help you to find the best payday lenders in the UK:
Use A Comparison App To Help You Narrow It Down
There are comparison apps online that will help you to compare payday loans from the top UK lenders and find the right one for you. You put in how much you’d like to borrow and how long you will need the loan for, and the app will come back with the best suggestions for you so you don’t go broke. This way, you can compare APR and any other fees lenders want to put on top of their loans to find the best payday loan sites.
The best place to get a payday loan may not always approve you, depending on how your credit looks and similar factors.
Try To Understand The Interest Rates As Best You Can
Interest rates can be confusing, but if you’re going to take out a high interest loan it’s a good idea to attempt to understand them. As mentioned before, payday loans UK usually charge more interest in a month than credit cards do in a year. A credit card charges an average of 12% APR, while a payday loan can be 400% or even more. Make sure you know exactly how much interest you’ll be expected to pay, and how much you’ll pay if you miss a payment for whatever reason. Consider every situation so that you’re prepared.
Whatever the interest rate of the company, you need to make sure they are transparent. If a company is at all vague about their payday loan fees and APR, it’s a good idea to avoid going there all together. You need to know as much as possible before you can make this decision.
Make Sure You Read The Fine Print
Some payday loans UK companies might not want to disclose the terms of their loans too clearly, as it can put people off using them. Make sure you review the fine print so you fully understand what you are agreeing to. If you’re unsure, it’s a good idea to check with somebody who will understand, so you know for sure that you’re doing the right thing. Never skip this part.
If you contact the lender for answers and they are still vague or not willing to give you the answers you are looking for, then they are not a good choice for you.
Go With Your Gut And Assess Their Website
You don’t need to be a website expert to know if a payday lender looks a little dodgy. If the site looks good and is easy to use, then it’s probably OK (although this isn’t a guarantee). If the site looks thrown together, then you should probably go with your gut and avoid them.
You want a company that is reliable. If they don’t treat their own business well by taking their time over a website, how are they going to treat you?
Websites to avoid will often have slogans splashed across with things that sound to good to be true. For example, if a website is advertising ‘guaranteed payday loans’, stay well away. No lender can guarantee payday loan approval without even checking your credit.
Always Look For Their Contact Details
Reliable instant payday loan lenders will provide contact details. The business address should be listed on the website, as well as a phone number that you can call to see if you get to speak to a real person. Going with online payday lenders that have an automated phone service or hides behind an anonymous residential address, or worse, no address at all, isn’t a good idea. It’s not like you’re going to pay them a visit, but this shows that they can be trusted.
It can be a good idea to call and see what the customer service is like. If you struggle to get through or you’re put through to somebody who sounds as if they have no idea what they are talking about, steer clear. Secure payday loans UK are obtained from direct providers of payday loans no brokers who are FCA authorised.
Take A Look At The ‘About Us’ Tab
If you take a look at the about us tab and you can find the names of the owners, or better yet, pictures along with them, then you can likely trust the lender. It’s a good idea to find out who the CEO of the company is, along with those who are in charge of different departments.
If they seem to be secretive about who’s behind it all, then again, make sure you steer clear. In this case, the more you know the better.
Are There Any Origination/Non Sufficient Fund Fees?
There are some payday loan websites out there who will take an origination fee from you when you take out the loan, and you won’t get this back. Make sure you take that into account when you consider how much this advance cash payday loan is really costing you.
If a lender can’t take back the money when they attempt to due to insufficient funds, then you may receive a charge for that too. This is the kind of thing you really need to find out before you decide what to do.
Payday Loans Direct Lender
Make sure you know what payment methods the online lender accepts, and what date you will be expected to pay the loan back by. If you can’t pay the loan back by the date, then you can’t afford to take out a loan payday advance with this lender.
It could also be a good idea to see whether you can pay the cash fast payday loan off early. Sometimes, lenders for payday loans may even try to charge you a fee for that. If you come into an unexpected windfall of money, then it’s likely you’ll want to pay loans off. However, you may end up paying even more for trying to do the right thing. With Payday Loans Net, you can pay off your loan early for no extra fee, saving money on interest.
Payday Loans UK
Taking the time to find the best payday lender from real online payday loan sites will ensure you have the most reasonable interest rates and the best customer service. You’ll also have better peace of mind if you happen to experience any problems!