Category Archives: Payday Loan Information

Awareness Of Dodgy Christmas Payday Loan Lenders

People are being advised to be aware of ‘dodgy’ lenders who are offering finance to people with little or few conditions attached. In the run up to Christmas, many people look for a little bit of extra cash to buy last minute gifts or getaways. According to the Consumer Finance Association there has been a surge of new holiday themed loan websites which are coming up at the top of search engine results for people looking for Christmas loans.

These seemingly great loan companies frequently fail to act as responsible lenders by not carrying out the necessary affordability checks on the borrowers. They also do not always outline the possible risks of borrowing in the form of a payday loan.

The Money Advice Trust

These loan companies are taking advantage of vulnerable individuals who are in financial need. Loan lenders acting in this way have not gone unnoticed- the CEO of the Money Advice Trust, Joanna Elson spoke about the situation recognising that Christmas ‘is a difficult and expensive time of year for many families and the people behind these websites know that’.

She also spoke about the difficulty of dealing with these dishonest lenders- whilst sites are being reported each year, new sites continually appear online. Elson advised borrowers to be cautious and remember that if a loan sounds too good to be true ‘it probably is’.

Many of these lenders take your personal details which could be sold to other companies. If your details are passed on, it is highly likely that you will be contacted by numerous other companies who cold call lists of individuals without knowing their situation. Many also charge up-front fees even before any loan agreement has been reached.

How To Avoid The Trap

There are some key questions you need to ask yourself when using payday loan lenders this Christmas. National Debtline recommend asking these 5 key questions –

  • Is the offer too good to be true?

Always be sceptical when looking at a loan company- if what they are offering sounds a bit too good to be true than it is likely that it is. Companies offering to solve all your problems in the click of a button or appealing to your emotional side to manipulate you into borrowing should set off alarm bells!

  • Does the website contain mistakes and/or inconsistencies?

With the holiday season in full swing, many of these Christmas payday loan lenders set up their websites in a rush. This can lead to errors in spelling and grammar which would normally be picked up on and corrected if the lender was genuine. If the content of the website appears muddled or incorrect, this should also be a warning to you.Has the company provided contact information?

  • Has the company provided contact information?

A key indicator that something is amiss is a lack or absence of contact details. If a company does not have an address or contactable phone or email this is a definite sign that something isn’t right. Make sure you can contact them before filling in any contact details yourself.

  • Does the website disclose a valid FCA authorisation number?

It may sound cliché, but always read the small print. Every genuine lender will display their FCA number on their website so if you cannot find one then stop! You can check the FCA website also to check if the company is an authorised lender- if they are not they should be reported to the FCA for lending without registering.

  • Is a Christmas loan the right solution?

The key question you should be asking is not about the lender but about your own situation. We know that Christmas payday loans can be tempting but before taking out a loan consider the other options. You can get free financial advice from services such as the Money Advice Service or National Debtline.

Do not let the holidays be spoiled with worry- be a safe, smart borrower and enjoy the festive period.


Information About Fidelity Works and True Blue Loans

At The Lenders List, we are always looking to give our visitors the best information about direct lenders while avoiding brokers. We also like to give information about lenders who we believe are not giving consumers a fair deal.

After working with True Blue Loans for the past year, we have found the funding rate very low meaning that customers that apply for loans through True Blue Loans that come via our site to them are being rejected majority of the time. As a company working as an affiliate, this means that we can measure our success based on the success of a customer’s application.

Why We Have Removed True Blue Loans (Fidelity Works)

The decision to remove them off our site was not taken lightly but done after doing our own internal investigation. True Blue Loans are owned by a company called Fidelity Works, company number 08282024, we have found that they have a multiple number of sites which gives the impression they are different loan companies when in actual fact they are all the same company here is a list of websites that are owned and run by Fidelity Works –

  • Lucid Loans – Lucidloans.Com, Lucidloans.Co.Uk
  • True Blue Loans – Trueblueloans.Co.Uk
  • BFWG Grants –
  • Blue Oar Securities –
  • Pacific Odyssey Loans –

If you have been rejected by one of these sites then you are more than likely going to be rejected by the other sites they own as they will all be based around the same criteria.

Why Do Fidelity Works Have So Many Sites

This is a very good question, some may deny this, but there is a thing in the loan industry called lead generation. Lead generation is where a customer applies for a loan and when they are rejected they pass your details/applications on to other brokers and lenders with no guarantee of a loan. If you do happen to get approved at some point where they have passed on your details on they will receive some sort of commission.

By having multiple sites, it gives the impression that you are applying with a different company unless you go into the footer you will see it’s the same company. If you apply again through one of their other sites this gives them the opportunity to pass your details on again giving them even more opportunity to earn a commission this is similar to working as a broker.

Why We Think This Is Wrong

If Fidelity Works really wanted to fund loans for customers why do they need 5-6 different websites when it’s all the same company? there should just be one website promoting their services and working hard to help customers. With multiple site’s we believe that they try to profit from passing on leads, when you do an application on any of their sites you will notice you can not proceed with your application unless you tick the box for marketing and we believe this should be optional.

We have done a test application ourselves and we have noticed we get diverted to other sites and get sent spam via email and texts which can be the most annoying thing in the world but as we ticked the box for marketing we expected this.

We just want to provide the best list of lenders possible for our visitors where you will get a fair chance of approval rather than instantly passing on your details to other companies with no intent to lend. Fidelity Works are a direct lender as stated on the FCA register, but this means that they only have to fund 1 or 2 loans in a month to be classed as a lender and the rest can be sent for marketing. We have spoken to other companies that have had Fidelity Works and True Blue Loans listed on their sites who have also claimed they rarely fund any loans.

As a result of our own investigations we will no longer be listing True Blue Loans, Fidelity Works or any other websites they own.


Payday Loan Lenders Regulated and Registered?

If you do a search online for payday loans or instalment loans you will literally find hundreds of companies wanting to offer you financial products and services but are all these companies regulated and registered companies in the UK? All companies by law have to be regulated by the Financial Conduct Authority (FCA), this is the board that gives authorisation for conducting finance related business to consumers in the UK.

Payday Lenders And Brokers Trading Without An FCA License

If a company is conducting business around finance whether it be a broker or a lender does not have this license then they are trading illegally and you may be at risk of fraud as it can be hard to track down these companies once they have your details. These rogue companies claiming to be lenders and brokers without a license are something that the FCA are trying to crack down on and ban so no one is at risk and if they want to trade they need to be properly regulated or face penalties if they are caught.

Loan Lenders And Brokers Registered As A UK Business

Any company that wants to promote financial products must be registered in the UK. The FCA will only consider companies that have premises in the UK and are contactable by mail. Payday lenders and brokers from overseas can trade in the UK as long as they have a registered business address in the UK or their application for an FCA license will be rejected. If a company does not have registered address in the UK it is more than likely they will not have a company number allocated by Companies House, where all UK businesses are registered and we would strongly recommend avoiding these companies at all costs as you may not be protected if you make a claim against a company that no one has a record for.

How To Check If A Payday Loan Lender Is A UK Registered Business

To check if a payday loan lender is a UK registered company the best place and the only way you should confirm this by using the Companies House Web Check register. The Web Check register will give you information about a company and if you are a paying customer with Companies House you can get additional information about a company.

To find out the company number of a lender this may be located at the bottom of their website or in the about us section if you still can’t find it contact the company directly and ask for the company number which is usually 6 or 8 digit long once you have got this go the Companies House Web Check and enter the number. Once you have entered in the number you should get additional information about that company and you should look out for registered address, how long have they registered and if the company is active or dissolved, if the company is dissolved they should not be trading at all so please avoid these companies.

Do not be alarmed if you see a different company name listed as many companies work as a trading style giving different names to multiple sites they may own but the company listed is the company that owns all the sites.


Here is an example of checking one of our lending partners Credio Loans if they are a registered business –


Go to the Credio Loans website and scroll to the bottom you will find their company number




Once you have located the company number go on to Companies House Web Check and enter in the company registration number or name but usually easier if number entered




Once the number is entered click on search and you will find the following additional information. What you should be looking out for is who the company is owned by in this case Credio is owned by Cashbridge Corporation and has a registered UK address. The second thing to look out for if the company is active or dissolved in this case they are active and been since the 4th August 2009




How To Check If A Loan Lender Is Regulated By The FCA

All brokers, payday and instalment loan companies have to be regulated by the FCA if they want to conduct financial activities by law and if a company does not have an FCA license we strongly recommend avoiding these companies and report them to the FCA so they can look into this.

To verify if a company is regulated by the FCA, we will use another lending partner, Different Money for our example –

Go to the Different Money website and scroll to the bottom this is usually where most companies state their FCA number which is usually 6 or 7 digits long




Once you have located the FCA number go the Interim Permission Consumer Credit Register and enter the number into the search box and click on search




Once you have clicked on the search you will come to a screen giving you various information about the company as well as the company’s FCA license number. You will also be able to check any other websites registered under this company, what permissions the lender has whether it’s a lending license or brokerage license or both and any disciplinary actions taken against the company




If you are experiencing financial difficulty and need advice visit the Money Advice Service who can offer support and advice.

Finding Cheap Online Short Term Loans

When trying to find cheap online short term loan lenders you will find tons of loan companies on the internet and making the best choice is not always easy.  The biggest mistake consumers make is applying with the first lender they find which is not the best way to look for cheap short term loans online as they may not be offering the best rate.

An online short term loan is defined as an amount of money borrowed for 1 month to 12 months and repaid monthly either in one go on your next payday or split into monthly payments as agreed with that particular lender. With many lenders moving into instalment lending, this now gives consumers a more flexible choice when agreeing to repay back making it more suitable for yourself.

Alternatives To An Online Short Term Loan

We at The Lenders List want to advise that getting a cheap short term loan may not be the best option and should always be a last resort please see our responsible lending section. Short term loans through payday lenders or instalment lenders is an expensive form of borrowing and cheaper alternatives are available such as borrowing off your friends and family, asking your bank for an agreed overdraft or trying to get a low-interest loan or credit card through a bank.

If all your options are exhausted then looking for a short term loan could be an alternative. When looking for a cheap online short term loan always look for the lender offering the best terms and rates. Don’t always apply with the first lender you find as there could be better rate waiting for you.

Short Term Loan Companies On The Lenders List

Using The Lenders List means that you can apply directly with direct short term loan lenders which mean you are applying with a company that has their own funds to lend. The great thing about The Lenders List is we cut out the brokers who get you to fill out forms only to have your details passed on to other brokers or to a direct lender but this can be time consumers and you may have no clue how many times your details have been passed on. We always advise to apply directly with a lender and that’s why we take no details of any customers, all the details you submit will be at the direct loan lenders site.

Further Advice On Looking for Cheap Online Short Term Loans

The majority of the time consumers are searching for cheap short term loans because of a financial emergency such as emergency repairs or to cover a bill and your income can not handle covering this emergency and your living costs. Here are a few pointers of what you should look out for when applying for a short term loan –

  • Always borrow the amount needed to cover the issue you may be experiencing and do not borrow anything on top of this amount so if you have a bill for £50 then only request to borrow £50
  • Look through all the lenders listed on our site to see if the lender offers the amount needed as this will vary from lender to lender. Loans are typically between £50 and £1000 but check each lender site for details
  • Check the APR that is being offered by each lender. The APR signals how much will need to be repaid and the higher the APR the more you may need to repay back. The APR’s are available on the individual lender pages but always check the rates directly at the lenders site by doing this you can save yourself money
  • If you have a poor credit history some lenders may offer a higher APR as your considered a more riskier customer but are willing to take a chance so you may want to check for lenders who accept customer with bad credit. Short term loans through a payday lender can be expensive so think carefully before taking out this form of credit
  • Decide how long you wish to borrow for this can be from a month to up to a year but just remember the longer you borrow for the more you will pay in interest so always look to repay early saving yourself money in the long run
  • Not enough people do this but always read the terms and conditions of any lender you apply with. If you sign and send back any agreement that means you agree to all the terms, but you don’t want any nasty surprises about penalty fees or not knowing the implications of not paying back. Reading the small print can be boring but protect yourself at all times to avoid any further financial difficulties 

If you are experiencing financial difficulty and need advice visit the Money Advice Service who can offer support and advice.


New Payday Loans Lenders For 2015

With 2015 in full swing, the payday and instalment loan industry is still around and still going strong but with new regulations in place set by the Financial Conduct Authority (FCA). When looking for loans we advise not always borrowing from the same lender just because they approve you all the time but to apply with a lender that will give you the best rate when repaying your loan.

Comparing New Payday Loan Lenders

At The Lenders List we recommend searching and comparing the payday loan and instalment loan market because this type of loan is not the cheapest way to borrow but should be one of your last options if you have to take this route. Always be on the lookout for new payday loan lenders, as they enter the market after analysing competitors and look to compete or better their deals. Taking out a loan with a new payday loan company and changing from an existing lender could possibly save you money by picking a lender with a better APR, so have your eyes peeled when looking at the rates.

Payday Loan Companies For 2015

From 2nd January 2015, the FCA implemented capping rules to the short term loan industry which affected a number of companies that trade in this market. The FCA started regulating the UK financial industry in 2014 and replaced the existing regulators the Office of Fair Trading.

The payday loan market has been heavily criticised in the last few years with the high interest rates they charge and the emotional and financial troubles suffered by consumers that the payday loan market was spiralling out of control and something needed to change.

With the FCA in charge now they want to make this a safe environment for consumers and protect them when entering into agreements with payday loan companies for 2015.

Some of the changes implemented by the FCA are as follow:

  • Since the 2nd January 2015 the FCA have introduced a capping measure that lenders can not charge more than 0.8% a day for the loan amount borrowed. To put into perspective, no lender can charge more that £24 for every £100 borrowed for a 30-day loan.
  • All payday loan companies must conduct credit checks, affordability check and responsible lending criteria set out by the FCA
  • Payday loan companies need to limit the amount of times a customer can roll over a loan. The FCA believes this starts a long cycle of just paying the interest rather than paying off the whole loan. Continually rolling over a loan can cost consumers hundreds of pounds without ever clearing the loan.
  • Payday loan lender in 2015 are now only able to try to debit your account twice on the day of repayment once this has failed the lender needs to get in contact with you to make an arrangement.

For a full guide to the changes please go on to the Financial Conduct Authority website where you will find more details.


Finding The Best Payday Loan Lenders

Finding the best payday loans lender can be very tough and challenging. If you have done a simple search online for terms such as “payday loans”, “direct payday loans” or even “best payday loans lender” you will find hundreds of payday loan companies and brokers who introduce you to lenders offering their services.

Best Payday Lenders What To Look For?

When looking for the best payday loans in the UK always check to see if they are a direct lender or a broker. A direct lender is a company that has funds available to lend you if you are approved, a broker is a company that introduces you to a lender while charging a fee at times to use their service or a commission paid by the lender for the introduction. At The Lenders List we believe no fees should ever be charged unless you have been fully approved a loan so avoid these types of companies where possible.

Best UK Payday Loan Companies

There will be tons of payday loan companies in the UK claiming they are the best but this is a tag that payday lenders may use to reel you in to apply for a payday loan. To be honest payday loans may not be the best option because of the interest they charge but if this is the last option then look to do some research if they truly are the best payday loan lender in the UK. From our own research the best payday loan lenders in the UK tend to be the ones that charge below the £24 for every £100 borrowed in a 30 day period as this is what is set by the Financial Conduct Authority as a maximum a lender can charge for borrowing £100 in a one month period. If a payday lender is charging more than this then they are breaking the law and will be caught sooner or later. Some lenders are now getting more competitive charging about £20 for every £100 borrowed but always look at the rates on the lenders sites to get an accurate figure what will be charged on how much you have requested.

Compare The Best Payday Loans Lenders

Using The Lenders List means that you can compare over 25 payday and instalment lenders and compare the rates charged and the type of loan they offer then you can determine who the best payday lenders are. If you choose to apply with one lender over another because of the rates it can save you money instead of over-paying with another lender. Also check if you want to borrow for 30 days or for a few months as some lenders offer both options making it more flexible to repay. We will never suggest who is the best as we stay impartial as we are a directory but what we do make sure is that all payday loan companies have an FCA license, are a direct loan lender and UK registered business, as long as these guidelines are met we are more than happy to list a lender. We pride ourselves on listing only direct payday lenders and no brokers and we hope that comparing lenders through our site means you do not have to scour the internet wondering if the website I have landed on is a direct lender or a broker stay safe and apply with a lender listed on our site.