Same day loans in the UK
While their name states what they are, same day loans now come in a variety of shapes and sizes. To help ensure you make the very best, most informed decision possible, we and our broker partner will help you every step of the way; enabling you to avoid some common pitfalls, as well as showing you how to increase your chances of being approved. Same day loans in the UK all work similarly in regard to that they are designed to get you the money you need much more quickly than traditional loans. As a result, they can be useful for sudden emergencies in which you suddenly find yourself needing extra funds. With most of our partner’s direct lenders offering a range of same day loans online, the application process is often straightforward and can be performed on any mobile device.
Same day loan questions:
Q1 – What are same day loans and how do they work?
Q2 – Are Same Day Loans Safe?
Q3 – Same day loans – what do I need to apply?
Q4 – Are all Same day loans the same?
Q5 – How much can I borrow on the same day?
Q6 – Same day loans – what is the best one?
Q7 – Do payday loans harm your credit file?
Q8 – I am struggling with my debts, what can I do?
Providing full transparency in every aspect of the application process, including the exact amount you will repay each month, as well as the total, you are never in any doubt regarding how much you are repaying and have left to repay. To provide applicants with even more safety, our partner’s panel uses “soft search” technology; this enables them to get a decision on your application from lenders without impacting your credit score, therefore protecting you from being negatively affected by declined applications.
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It is, of course, vital that you give honest answers to these questions as it will allow them to find the most suitable lender for your same day loan and help to avoid any possible repayment problems in the future. The majority of direct lenders will require you to have a bank account; however, some lenders offer doorstep loans which involve a loan agent delivering the money to your door and also receiving payments from you in the same way. This makes them perfect for people who do not have a bank account but whom still require access to short-term loans.
Because you have so much freedom regarding how much you borrow and for how long, you will be able to create a same day loan that enables you to get the money you require and repay it back in affordable instalments over a period of your choosing. While many lenders will offer similar interest rates, there will be some differences in how much you pay back. Such factors include how much you borrow, your credit profile, and of course how long you want to borrow the money. While you will pay less back in total if you repay the loan quickly, this must always be balanced by whether you can afford the higher repayments as late repayments can seriously impact you through charges and negative marks on your credit score.
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How much can I borrow on the same day?
Whereas in the past, same day loans were generally for small amounts that were required to be repaid after just a month, things have now changed, with people given much more choice. Still reflecting the fact that most same day loans are for small amounts; the majority of direct lenders offer same day loans running up to £1,000. Ranging from £100 upwards, these loans can often be taken out for any amount you wish. This means that you can borrow the exact amount you need; no more and no less.
Many short term loan companies now offer same day loans of up to £5,000. This means that if you are looking to make a large purchase or consolidate debts, you have the ability to borrow larger sums of money.
For applicants not wanting to be tied down to a long-term contract, lenders offer a variety of loans that can be repaid back in just a matter of months. In comparison, lenders have also created similar small-amount loans that can be repaid over much more extended periods; enabling applicants to pay just a small amount back each month. Furthermore, by allowing you to perform a Soft Credit Check before you apply to lenders, you can make sure you are getting the right deal for you without impacting your credit profile.
Many of the direct lenders that our broker partner work with specialise in providing same day loans for bad credit. So even if you have a very bad credit rating they may still be able to help you find a same day loan.
Our broker partner is regulated by FCA, all of the lenders on their panel are bound by UK financial regulations; meaning you can rest assured that you are borrowing from a reputable and legal lender.
If you are struggling with your debts and require assistance. You can speak to the companies below, free of charge.