Payday Loans are now very common here in the UK. They originally became popular in the USA where pay day loans cold be found in every street corner shop but it wasn’t until a few years ago that they were even heard of in the UK.
Today however, pay day loans in the UK are nearly as common as they are in the USA. What has also made them more popular recently is the credit crunch that has not just hit the UK, it has hit the entire world.
People have been affected by this credit crunch and as such their credit ratings have dropped. On top of this, regular High Street banks are now much more careful who they lend their money too which makes getting a regular unsecured loan much more difficult.
It is no wonder that many people are now turning the services of companies who provide pay day loans as this type of borrowing is much easier to get. A pay day loan lender will not require you to undergo any form of credit checking which is a real bonus if you do actually have a cad credit rating.
Normally, all a pay day loan lender will require is that you are aged 18+ years, are a UK resident, are in full time employment and have a bank account with a valid debit card.
There are some pay day loan lenders who do not need you to have a valid debi card though.
So with no credit checks or paperwork to fill out it is easy to see why pay day loans are a popular form of borrowing. After all, the loan isn’t secured, there is no paperwork to complete as pay day loans can be applied for online and the money is usually paid directly in to your bank account within 24 hours of you being accepted for the loan.
There are many pay day loan companies in the UK that you can choose from and many offer pretty much the same service and rates. However, some pay day loans require that your take home pay is £750 per month or more. Not all lenders insist on this however so don’t worry if your take home pay is less than £750.
Payday loan lenders – Resources:
Below is a UK Payday Loan Lender who will lend you an unsecured cash amount, which can be paid directly into your bank account WITHIN ONE HOUR, can give you an instant online decision and does not involve a credit check. Yes, we have used this service to make sure they do what they claim before adding them to this page as a resource. They also have some of the lowest charges of all UK payday loan providers.
- Instant Payday Loans – You must be aged 18+ years, employed or have a regular income, have a bank account with valid debit card. All applications are accepted who meet the above criteria.
Remember the good and bad points to a payday loan before deciding if one is right for you. Yes, payday loans do have a higher interest rate but then again a payday loan does NOT require a credit check so it doesn’t matter how bad credit history is.
