Research carried out shows that the number of potential borrowers looking for short term payday loans is well into the thousands. Payday loan companies have been around for a number of years, and it can often be difficult to find the right option for you when there are so many choices. We want to simplify the process by saving you time and hassle in your search for the right short-term loan.
An important point when looking for a payday loan direct lender is to ensure you always check the website to find out whether they are a direct lender or a broker. This information should be at the bottom of the web page or in the ‘About Us’ section of the website. If it is not clear, then contact the company by email or phone directly to make sure.
Attempting to find the best payday loan option for you can be a complicated process due to the enormity of the market. Many will claim to be best for you, offering great rates and deals to entice you to fill in an application. It is important to remember that these companies are trying to win you over so you need to conduct some thorough research on the lender. Using Money Chamber, you can see information on payday loan sites including who the direct lenders are and their specific criteria when completing an application. We want to help customers who are looking for an online payday loan because we feel that applying directly is the best option in a market filled with brokers. A payday loan provider will typically require you to complete an application online; this process will be the same with any payday loan company. However, there are some cases you can apply via phone, but the preferred method is online which you will find easier when looking for a quick payday loan.
We strive only to list direct payday lenders who specialise in short term loans and no matter what your situation when looking for a loan, we want you to be safe in the knowledge that we have verified that each of the lenders listed is UK registered and are regulated by the FCA. We want you to find payday loans directly rather than going through a broker who may charge you fees.
It is important to note that there is a significant difference between direct lenders and brokers. With a broker, borrowers are encouraged to fill in their details on the broker’s website and once complete; they will be recommended to a direct lender. The broker usually takes a fee from the lender and the customer for making the introduction in this case which is often taken automatically and can range from as little as £5 to as much as £70. This fee may be taken without a loan being approved for the customer; they are essentially charging for a service for you to be passed on to other lenders and brokers. In some cases, an individual who applies with a broker will have their details shared with lots of other brokers and similar payday companies and still not be approved by any lender.