CashAdvance.com works with consumers to connect people with reputable lenders in the UK. CashAdvance.com is not an actual lender. Instead, we will use your application to obtain pre-approval from a lender perfect for your needs, saving you time and stress.
Unfortunately, many people in the UK may be hesitant to take out one of these short-term loans because they are unaware of how a loan works. Here you will find all the information you need to make an informed decision about your financial future.
What Exactly Is a Payday Loan?
A payday loan is, at its simplest, a loan meant to be repaid within about a month after you receive the funds. The amount of money you receive can be as little as £100 or as much as £1,250. The specific terms of your loan, including interest rates and financing fees, will be determined by your lender.
Requirements
Getting a payday loan in the UK is easier than you think. In order to apply, you must:
- Be a UK resident
- Be over the age of 18
- Be currently employed either full or part time
- Earn at least £500 a month
- Have a bank account
- Have your wages paid into your bank account
Bad Credit Is No Problem
Rather than leave consumers without any options, payday loans are available even if consumers have a bad credit score or no credit history at all. Payday loans are meant to be available to as many people as possible.
Application
To apply for a payday loan, you will need your bank account and personal information. From the CashAdvance.com UK page, just click on the Get Cash Now! button to begin your application. It will take only a few moments, and you can have your money deposited in your bank account as soon as possible.
Hidden Fees
There are no hidden fees in payday loans. Every lender in the UK is required by the Consumer Credit Act to disclose all rates and fees to borrowers before any contract is signed. You are not obligated to borrow or pay any money in order to see the terms of the loan. You can choose to use another lender, or decide a payday loan is not right for you at any time.
Direct Debit – Getting Your Cash Fast
One reason why you will need a bank account for a payday loan is so that lenders can deposit your loan funds directly into your account. Once you finish your application, you will be connected to a reputable UK lender ready to disburse your loan. You need only to review and agree to the terms and conditions in the contract they will provide to have the money sent to you without delay.
Repayment
Repaying your loan is easy. In many cases, you can set up automatic payment with your bank account at the same time you agree to a loan with your lender. Payday loans are meant to help alleviate financial stress, so you can focus on the most important issues in your life.
