How much would you like to borrow?
Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: ?250 borrowed for 30 days. Total amount repayable is ?. Interest charged is ?, annual interest rate of 292% (fixed). Representative % APR (variable).
What are direct payday loans?
If you’ve ever had an emergency bill to pay, and you know that the savings you have left in your bank account simply aren’t going to cover it, then you’ll be well aware of the value that payday loans can offer. It’s often easy to dismiss payday loans, assuming that you can always wait until your next payday if you ever want to buy something that you can’t immediately afford. However, the truth is that when important expenses crop up, like the cost of paying for a new washing machine or repairing your car, you just can’t afford to wait.
Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: ?250 borrowed for 30 days. Total amount repayable is ?. Interest charged is ?, annual interest rate of 292% (fixed). Representative % APR (variable).
Payday loans are some of the most popular short-term lending solutions in the UK today. Now that these loans are FCA approved, you know that you can get the quick money you need with minimal hassle, and you don’t have to worry about paying over the odds on your interest either. However, before you can start reaping the benefits of payday loans, you’ll need to find the lender that’s right for you.
There are two options available when it comes to applying for a payday loan. Your first option is to go directly to a lender that can give you the money without any middleman. The second option is to use a payday loan broker like Boutell.
Why Go for a Payday Loan?
Before we start exploring the different kinds of lending options available to people in search of a payday loan, let’s discuss why you would choose a payday loan as your solution for additional cash. After all, there are a lot of different lending options out there, including personal loans and loans specifically for certain things, like mortgages or car finance lending.
A payday loan isn’t the best choice for every lending requirement, but it is a good option for anyone who needs to borrow money quickly, without jumping through countless hoops in an application. With a payday loan, you can access the money you need almost instantly, even if you don’t have the best credit score. Additionally, the application process usually takes a matter of minutes rather than days.
Payday loans are particularly well-suited to people who only need to borrow a small amount of money for a short period of time. With a personal loan, there’s often a minimum on the amount you can borrow from a bank, which means that you end up getting yourself into more debt than you need to be in. With a payday loan, you only borrow the amount you actually need, and you can pay it off on your next payday. This means that you spend less time trying to figure out how you’re going to make your budget stretch to accommodate repayments for the next several months.
Borrowing Through a Broker or Going Direct?
A lot of borrowers assume that the cheapest way to get online loans will be to go to a direct lender. After all, the fewer people involved in your loan, the fewer fees you need to pay. While that idea works in theory, it also means that it could end up being a lot more difficult for you to get the kind of lending solution you need.