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My Personal Loans Why my-quickloan.com
You could Borrow £100 to £5,000 Instant Decision
What is the loan repayment term? 3 – 36 months 100% Online
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What if i have poor credit history? All credit histories welcome No Obligation

 

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Your questions answered about online payday loans UK.

Here at My-QuickLoan, we want to help you understand the things that you need to know about instant payday loans, in a way that is easy to understand.

So we have gathered together some facts from frequently asked questions of our customers to help you make the right informed decisions about your payday loan.

 Do you charge fees?

We won’t ever charge you fees for using our services. A lot of payday brokers used to charge high fees for introducing your application to a panel of lenders.

However, since lenders and credit brokers became authorised by the Financial Conduct Authority, if a credit broker charges you a fee they have to make this completely clear from the start.

This is why many people search for payday loan direct lenders, however using a free brokerage service is much more to your advantage than filling out numerous application forms.

Our service is completely free for you to use, as we will receive a fee from the lender that we introduce you to.

Can you offer instant payday loans?

Payday loans are known for their speedy pay-out with most, if not all lenders offering pay-out of the loans the same day you apply.

This is due to the application mostly being completed online now, so there’s no longer a need to send any paperwork in the post, as e-signatures can be applied to the loan agreement.

How quickly will the funds be in my bank account?

If you are looking for an immediate online payday loan in the UK, then you have come to the right place as we specialise in making your loan application as quickly as possible.

Usually, you will receive the money in your account within the hour after being approved, meaning that you will have quick access to the funds you need when you need it.

It’s worth noting that whilst most lenders can offer immediate payout on payday loans, this is, of course, subject to a couple of things.

Firstly, that you are approved for the payday loan and secondly that your bank is able to accept faster payment processes. Most, if not all banks do accept faster payments – we are after all in the 21st Century!

What are payday loans?

Payday loans are typically an amount of borrowing between £100 up to £5,000 with a repayment term of 3-12 months.

What can an instant payday loans be used for?

Payday loans are generally used for short-term borrowing purposes to help cover some of life’s unexpected costs like a broken down washing machine or car repairs.

Many people also use online payday loans UK to help spread the costs of that family summer holiday or to help repay other debts.

We can help you find a loan whatever the reason, we just ask that you make sure that you can afford to make the repayments before agreeing to the terms and conditions of the lender.

We can help you to find the best rates!

We use our partner’s award-winning piece of software that allows us access via the platform, to a large panel of lenders. The platform searches for instant payday loans as soon as you hit the apply button on our application page.

Within milliseconds your details are passed to most of the UK’s leading lenders.

The panel of lenders in this platform are ranked in order from the lowest interest rate at the top, the software will start at the top and work it’s self down the list of lenders until you get accepted. This meaning you are always getting the best rates available to you.

Can you offer instant payday loans UK?

Quick payday loans UK are known for their speedy pay-out with most, if not all lenders offering pay-out of the loans the same day you apply.

This is due to the application mostly being completed online now, so there’s no longer a need to send any paperwork in the post, as e-signatures can be applied to the loan agreement.

How quickly will the funds be in my bank account?

If you are looking for a quick payday loan UK, then you have come to the right place as we specialise in making your loan application as quickly as possible.

Usually, you will receive the money in your account within the hour after being approved, meaning that you will have quick access to the funds you need when you need it.

It’s worth noting that whilst most lenders can offer immediate payout on quick payday loans UK, this is, of course, subject to a couple of things.

Firstly, that you are approved for the loan and secondly that your bank is able to accept faster payment processes. Most, if not all banks do accept faster payments – we are after all in the 21st Century!

What are the advantages of using My-Quickloan?

One of the most popular advantages that our customers love about using our services, is that if you want an instant decision, you could have just that within minutes of filling out our easy to use application form.

We also guarantee that you will always receive the best instant payday loans interests rate to your circumstances. As mentioned above, the clever software we use will automatically match you with the lowest rates. This is much easier than using payday loan comparison sites.

Payday loans UK do also come with disadvantages so please be sure to consider this type of borrowing before taking out a loan.

Some of the disadvantages include higher interest rates to your longer-term borrowing such as personal loans. Also, if you don’t repay your loan on time you may incur further charges on top of the interest making this a more expensive type of borrowing.

If you do want to consider an instant personal loan, you can apply to borrow between £1,000 – £25,000 on our sister site my-personalloan.com.

How much do online payday loans UK typically cost?

How much you back pay on instant payday loans UK will vary from lender to lender and on your personal circumstances.

However, by law, since the UK became regulated by the FCA, each lender has to show on their website a ‘representative APR’. This is the amount that the average customer is expected to pay.

What is a representative APR for an online payday loan?

A representative APR shown by any lender is by calculated by the average amount that 51% of their customers can expect to be charged.

But please keep in mind that a representative APR is just a guideline and it is not guaranteed that you will be charged that amount. The amount charged is based on your personal circumstances, and so this could be less or higher.

We recommend that you check the lender’s agreement to make sure that you are happy with the interest stated. It’s important to read this so that you fully understand the total amount repayable on instant payday loans UK, along with any charges that may be incurred, before signing the agreement and committing to the terms.

What if I have bad credit – can I still apply for quick payday loans?

In a short answer – yes! Many of the payday lenders our partner has access to understand that many of life’s unexpected events happen to all of us regardless if you have good or bad credit.

That’s why most of the lenders specialise in helping people with bad credit by taking into account your ability to repay the loan instead of simply looking at your credit score.

Get an Online Payday Loans UK Quote

Click HERE to get an online quote today.

Once you have filled out our short application form, click apply and our partner will automatically match you with the lender with the best rates to your circumstances. You are under no obligation to accept this quote.

If you are still interested and want more information on Payday loans UK, Money Saving Expert has got a great blog which might be of interest to you.

10 Reasons to Choose us

  • We work as an introducer, so we have access to 50+ lenders which means all you have to do is fill out one quick form. We’ll then use award-winning software to match you to the lender with the lowest rates. This saves you time and money
  • 10 Minute Payouts – Most of the lenders can pay out funds in as little as 10 minutes.
  • Quick and Easy quote form – We have designed our form for speed, most of the questions are multiple choice, so you could have your quote in under 2 minutes. Click Here to get a quote
  • Getting a quote won’t have an impact on your credit score
  • Happy customers – My-QuickLoan has not had 1 negative review, we aim to keep it that way.
  • High Security – We have taken all measures to make sure our site and your data is 100% secure.
  • Tips for savings – we provide some pages which include tips for saving. A loan should be used as a last resort and here at my-quickloan we understand that, so we have useful tips to try and help you get back on your feet financially. Please click here to find out more.
  • We also offer Personal Loans – if you are looking for a loan between £1,000 to £25,000 please visit our sister site My-Personalloan.com.
  • 100 % Online – No paperwork, no phone calls. All our applications are 100% online.
  • If you have bad credit, not to worry some of the lenders we have access to specialise in bad credit.
  • Looking to find out more information about Payday Loans UK
  • Please see our home page for more information about loans.

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