Payday Loans in the UK
Instant payday loans are the loans that cover your finances for a short duration, which is mostly the next payday. Sometimes there are some unexpected expenses that crop up during the end of the month when you don’t have the funds to pay for them. Payday loans are perfect for such cases. If your oven broke down because of overheating and you need to get that fixed, you can get an immediate payday loan and get the money delivered to your account within just 24 hours. Compare this to other loans where you have to submit lengthy applications and wait for bank approval.
The entire application process takes hardly a couple of hours and our advisors will let you know instantly if you’re eligible for the payday loan you want. While bank loans involve credit checks, our payday loans don’t make you fax your identification to us. This speeds up the process and you get your money within a day.
So what’s the difference?
Bank loans are meant for long term purposes. A payday loan covers an instant need for a short time period. If you need to pay a bill before your paycheque arrives, a payday loan might be the only solution. These loans are short term by nature and the lending conditions are rather generous. But if you use them like long-term loans, they can turn out to be quite expensive.
How can I get them?
Payday loans are very easy to get and many people have used (and are still using) these loans. Since these loans are unsecure, they are perfect for exceptional conditions in your financial life. On another plus side, these loans don’t need any collateral, which means that you don’t have to mortgage anything. Mortgage often fills people with fear because it can lead to losing important assets. With payday loans, there are no mortgages, and hence life becomes easier.
Regular bank loans require the issuer to have some security before they issue you a loan. This means you have to secure the loan against your precious property (house, jewellery, car etc). In case you are unable to make repayments, your bank can acquire these assets. But with instant payday loans, you don’t need such conditions. We don’t need collateral security and thus you don’t have to fret about losing your belongings if you fail to repay.