In need of a quick £50 loan? Let us make that easier for you. We have a large panel of lenders all waiting to give your application a look. Bad credit used to be a death sentence when it came to borrowing money, but with short term loans on the rise, you can still get financial aid from a direct lender.
As long as you are over 18 years old, can show proof of income, live in the UK, and have a bank account, a payday loans lender is willing to take your application into consideration.
Where can I find the best £50 loans?
Most lenders of fast loans are found on the internet but there are some with brick and mortar offices that you can visit in person. Which ones offer the best loans? Well, that isn’t easy to answer.
You see, each customers application is looked at individually by lenders and this causes quite a lot of variation in their opinions and their overall decisions. This means that you might get offered a much better deal from one lender when compared to another. Unfortunately there’s no way of knowing this without applying first, so to find the best £50 loans, you will have to send your request to a number of different lenders.
Are there £50 loans with no credit check?
I’m afraid not, as there are no credit check loans available in the UK that don’t require a credit check first. It is a requirement made by the Financial Conduct Authority that all registered lenders must act responsibly when deciding on who to loan money to, so checks will be made.
There is no need to fear a credit check, even if your credit history is not what it should be as this type of loan is high acceptance. As long as you can prove that you have sorted out any previous debt problems and are now in a much better position financially, a direct lender may offer you a quick loan. A payday loans lender will take a look at your credit history and score, but they will balance that out against how you are doing at the present time. If they think you can repay the loan without any hiccups, they are likely to grant you it.
Can I still get a £50 loan with very bad credit?
We have a page that gives you all the information on bad credit loans that you can get to by clicking the link provided.
To sum up though, it is possible to get loans with very bad credit but you may not like the high interest rates lenders want to charge for it.
‘Very bad credit’ is objective though, and what you might think is terrible, may not actually be seen as that bad by some lenders. The only way to know for sure is to drop your details to us via our online form and we can approach up to 50 lenders and get their opinions on your viability for a bad credit payday loan. If your credit really is that damaged, you could still get a guarantor loan if you have someone willing to help secure the loan in their name. This would drop interest rates significantly if your guarantor has a healthy credit score.
What alternatives are there for short term loans from direct lenders?
Payday loans from direct lenders might not be the only choice available to you. Here are some other options to consider. For a loan of a small loan like £50, it might be worth asking friends and family first. I know it’s a little embarrassing, but it could save you a lot of money. Arranging to pay them back by direct debit might give them to peace of mind that they need to lend you the money short-term. You could also try a credit union, whose interest rates are usually quite low. A google search on credit union loans will supply you with all the information you need.
Of course, these are all short term fixes. To have your finances in better shape in long run, it might be worth taking some of these steps noted below:
- Try shopping at a cheaper supermarket and buying less well known brands.
- Spend less money on treats like chocolate bars, crisps and takeaways.
- Sell old clothes, appliances, and other things that you don’t use or need.
- At the start of each month, plan a budget so that you know exactly where your money is going.
If you start to follow these few simple steps, I guarantee you will be surprised at how much money you can save. Having money left over in the bank at the end of each month is a very nice feeling, and before you know it you can have a nice little nest egg saved for a rainy day.