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Compare Payday Loan Lenders

COMPARE PAYDAY LOAN LENDERS

When people are comparing payday loan lenders, they are usually seeking to borrow up to £1,500 and repay on their next pay date. To compare payday loan lenders locating a lender is one thing but the major reason for going through a payday loans comparison site is so you can actually save money and time on the loan which you intend to take out. Consider all the lenders we feature offering different loans and prices, there’s absolutely no doubt that by doing some research, you’ll have the ability to take out the same loan amount and maybe repay back less.

A vital characteristic of The Lenders List, is that we only feature specific direct lenders. We have carefully selected the lenders we feature to guarantee that they can directly transfer funds to your account and are not brokers. We appreciate that when customers are wanting to apply for financing its because they want cash to cover an emergency expense such as rent, bills and other household expenses. Because of this, the last thing they need when they apply is to get an unsolicited fee taken out of the account and that’s the reason why we do not recommend brokers on our site. Each month we list our lenders and everything you have to do is just choose the lender you would like and click on their logo and apply direct to their site. We will not save your details or bill you for using our service. Once you apply on the lender’s site, they will carry out a series of checks and if you are successful, the funds can be sent to you on precisely the same day. Be sure to click the drop down menu to see our full list of lenders or you can click on the ‘more details’ button where you can see more information about each lender such as when they started trading, the costs of a loan and the types of checks they do.

COMPARE PAYDAY LOANS NO CREDIT CHECK

Compare payday loans no credit check are searched by people looking for lenders who do not use credit check as part of their decision process. This is due to the fact that the customer thinks that their application might not be successful based on their prior record of paying credit cards, loans or bills. Because of this, customers are looking for payday loans no credit checks which are businesses which can nevertheless offers loans despite not carrying out such checks. Instead, the creditors will look at other aspects such as employment and age when determining if the person is qualified for financing. In addition, the lender may offer a secured loan that means the customer will need to put something down as collateral such as a car or house and risk losing this should they fail to meet repayment. Please be aware every lender will do a credit check and then it’s up to the lender how they wish to proceed with your application.

THINGS THAT VISITORS CAN COMPARE ON OUR INDIVIDUAL REVIEW PAGES INCLUDE:

Age – What is the minimum age to apply? What is the maximum age to apply?

Employment – Do you need to be in employment to be eligible for a loan? A minimum salary that you need per month to apply?

Credit Checks – Does the lender run credit checks when deciding who gets a loan?

One check that is extremely important in the underwriting process is something known as ‘affordability checks.’ This pertains to checking how much a customer can afford to borrow and repay. Since all lenders need to follow along with along with FCA’s procedure for Responsible Lending Guidelines, lenders have a responsibility to check that their applicants can afford to repay their loans. This is done by checking the customer can prove their employment by phoning their office or asking for a payslip as well as taking their current expenditure into consideration (bills, utilities etc). By assessing the customer’s salary and their outgoings, a lender may execute powerful affordability measures to lend the customer the ideal amount they can afford to repay. Or they might discover that a customer can’t afford to borrow their loans and is therefore not acceptable for their product.

WHAT TO LOOK FOR WHEN COMPARING PAYDAY LENDERS AND INSTALMENT LENDERS

There are plenty of things to be looking for if you compare payday lenders. The most obvious issue is that the price of the loan which will vary from lender to lender. If the APR is somewhat confusing, other strategies to compare the price of the loan would be by the daily interest rate which is typically 1% a day which equals £130 per £100 borrowed. When the new cost cap comes into place in January 2015, the daily interest rate is going to probably be limited to 0.8% that comes to around £124 per £100 borrowed. Each of the individual lender pages on The Lenders List include a representative example to give you a good notion of just how much you will be repaying. An additional factor to consider when you compare loans would be the period of the loan. With a few lenders offering the normal payday loan, it is only going to last around 30 days however we also feature various instalment lenders that can offer loans repaid over 3, 6 or 12 month instalments such as MyJar and SafetyNet Credit.

COMPARE PAYDAY LOANS UK

There are approximately 100 payday lenders in the UK and each with their own different terms, lengths and rates, it’s very important to compare all the various lenders. Whether you’re based north or south, you can generally find payday lenders on the high street but you are certainly able to find them on the web and they can normally transfer funds to your account on the same day. If you’re based in a variety of boroughs, then you could have the ability to be a part of a credit union that provide substantially lower rates for payday loans. Feel free to read a little more about why it’s crucial to compare payday loans along with the other options out there.
Comparing payday loans in the UK is for when you would like to understand that the business you’re working with are licensed and registered to offer loans in the UK. By working with a business based in the UK, you believe that your information are a good deal more secure. It’s crucial you trust the company that you are working together with and which it is possible to get in touch with them if you want to. The Lenders List just compare payday loan lenders in the UK. The money is obviously pounds sterling and every company is registered to trade in the UK with a valid consumer’s credit license.

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