Short term loans from

A payday loan is a short term credit option designed to cover urgent expenses until your next payday. Loan amounts are usually between £100 and £1,000 depending on the lender. Applications are completed online and if approved the money may be available the same day.

Repayments are typically due on your next payday or within one to two months. You will repay the amount borrowed plus interest and any agreed fees. Because payday loans are expensive, they should only be used for emergencies and not as a long term solution.

Lenders normally require proof of income, a UK bank account, and identification. Missing repayments can result in further charges and may affect your credit record. Always consider your ability to repay before applying and explore alternative options. Free and impartial help is available from MoneyHelper.

The amount you can borrow with a payday loan depends on the lender, your income, and your ability to repay. Payday loans typically range from £100 to £1,000, though the exact amount may vary.

Lenders assess your application based on your current financial situation rather than only your credit score. Proof of income such as payslips or bank statements is usually required to check affordability. Many lenders will ensure the repayment does not take up too much of your monthly income.

First time borrowers may be offered a smaller amount, for example £300, with the possibility of higher amounts if loans are repaid on time.

Borrowing larger sums increases the cost of interest, making the loan more expensive overall. Always borrow only what you need and what you can repay on time.

Before applying, read the lender’s terms and conditions carefully and consider alternative options that may be more affordable. Free and impartial help is available from MoneyHelper. Borrow responsibly to avoid unnecessary financial pressure.

To qualify for a payday loan you will usually need to meet the following requirements. You must be at least 18 years old and a UK resident. You need to have a regular source of income such as wages or benefits. A valid UK bank account with a debit card is required. You will also need to provide a working phone number and email address.

Exact criteria may vary depending on the lender, so always check their requirements before applying. Borrow responsibly and only take out a loan you can afford to repay.

Yes, it is possible to get a payday loan with bad credit. Payday lenders are often more flexible than traditional banks and look at your income and ability to repay rather than relying only on your credit score. They may consider your employment, regular income, and overall financial situation when deciding.

If you have poor credit you may be offered a smaller loan amount or charged a higher interest rate. This is how lenders reduce their risk when lending to people with a less favourable credit history.

It is important to be cautious as payday loans are expensive and can be difficult to repay if you are already struggling financially. Always check the repayment terms carefully and make sure you can afford the loan.

If you are unsure, consider alternatives such as borrowing from family or friends, seeking free debt advice, or checking government support options. Free and impartial help is available from MoneyHelper. Borrow responsibly to avoid further financial difficulty.

If your application is approved many payday lenders transfer the money within minutes or a few hours. In some cases it can take up to 24 hours or longer if the lender needs more information from you before completing the process.

If you cannot repay a payday loan on time it is important to act quickly to avoid further financial difficulty. Most lenders will charge additional fees and interest for missed payments, which can increase the total amount you owe.

A late payment fee may be added straight after the repayment deadline and interest can continue to build daily. If you gave the lender permission to take payment from your bank account they may attempt to collect, which could also cause overdraft charges from your bank.

Missed payments are usually reported to credit reference agencies which can damage your credit score and make it harder to borrow in the future. If the loan remains unpaid your account may be passed to a debt collection agency.

Lenders must follow strict regulations and treat customers fairly. If you are struggling, contact the lender as soon as possible. They may offer a repayment plan or restructure your loan. You can also seek free advice from organisations such as StepChange or Citizens Advice.