Payday loans: direct lenders is now a way for people to get quick cash when unexpected costs arise and throw your finances into disarray. Payday loans from direct lenders are designed to be easily applied for, quickly processed, and accessible to a wider range of people than bank loans.
Direct lenders are called so because they deal with your payday loan applications directly with no middleman, and this speeds up the process significantly. In some cases, instant decision loans are possible and the customer can have the funds transferred into their account within hours of their initial application for a short term loan.
Another thing that makes payday loans from direct brokers popular is that they generally have a high acceptance rate, and even if they decide not to grant you the loan, they could pass on your details to another lender or payday loans broker in case there are others who are willing to give your application some consideration.
Direct lenders each have their own specific way of judging your eligibility for a loan, so just because one of them turns you down, it doesn’t mean that they all will. Getting assistance contacting multiple lenders is possible by using a payday loans broker who can streamline the whole process for you, making things a little easier.
Who are the best payday loans direct lenders in the UK?
That’s impossible to say as each lender’s criteria may differ from one another, as will their decisions on who they grant loans to.
There are a few things that make good payday loans lenders that you can look out for though. The first thing to check is that they are on the financial services register before worrying about if you can get the best payday loan offer from them. This will let you know if the company follows the guidelines set out by the financial conduct authority are legitimate lenders.
A good payday loan direct lender should be able to deal with your enquiry quickly and efficiently, although you can assist this by providing clear and honest information in your application. A reasonable interest rate and workable repayment schedule should also be something that a good direct lender can provide you with. If they offer you a quote, all the information on the instalments and any other fees you may incur for late payments and such should be clearly laid out for you before you agree to anything.
Can I apply for a small payday loan with a direct lender online?
Indeed you can. In fact as you are already on this site, you can make things easy for yourself and simply fill in our online small loan application form. After that is done, we will get your information directly to our panel of lenders for them to look over.
If they decide that your financial situation shows that you can repay the sum you asked for, then they will make you an offer and you can decide to take it or not.
Sometimes a direct lender may not be willing to loan you the full amount you ask for but will offer you a lesser amount that they believe you can pay back without causing you more money problems. They may also offer you the full amount but with the condition that you have someone to guarantor for you. You can visit our guarantor loans page for more details on this.
Compare payday loans: direct lenders
Length borrowed for
Monthly APR example Representative 1266%
Can I get a payday loan from a direct lender with no credit check?
You may have seen people offering payday loans with no credit check but actually the truth is there is no such thing as a loan with no credit check, not legally anyway. When some brokers say no credit check, they are telling the truth but not the whole truth. What they mean is that they personally won’t carry out any credit check, but the lenders they work with certainly will, as it is required by law.
Direct lenders of fast loans may also sometimes say no credit check, but again what they actually mean is that they will perform a soft check that won’t damage your credit score. A soft credit check is different to the type that banks use to assess your loan application. Instead of trawling your credit history, a direct lender wants to know how viable it is for you to repay the loan you are asking for, and a late car payment 5 years ago will likely not cause them too much concern.
Are there payday loans from direct lenders for people with bad credit?
Yes there are, and direct lenders often deal with people with bad credit histories. As we mentioned above, payday loan direct lenders won’t ask a credit referencing agency for your official credit file, and therefore your current credit score will be unaffected by your application. They will however check to see that the information you supplied is accurate and not misleading, and if they feel you can pay the money back, there’s a good chance of you being granted a payday loan for bad credit score applicants.
There are some standard things that all lenders will have to know before even considering your application though and they are as follows-
Are you over 18 years old?
Do you have a current bank account?
Are you a UK resident?
Are you employed or have an income stream?
If you can answer yes to all of those questions and you don’t have any outstanding debt problems like existing quick loans, you could be eligible for a payday loan from a direct lender, despite having a poor credit score,