5 tips in finding the right lender

There are so many different payday loan lenders in the UK it can be extremely confusing for someone attempting to navigate their way their way through the different lenders to try and find the best deals. Here are some simple things to consider prior to taking the plunge and applying for a payday loan online:

  1. Is the lender an actual lender or a broker? If they are a payday loans broker the chances are they will be associated with the main lenders, but your application will be submitted to them via their brokerage application.
  2. What is the APR (Annual Percentage Rate)? – this is key to working out what your repayments will be. The higher the APR, the more you will need to repay. Seems obvious I know, but some people do not even consult the APR!
  3. Does the website look right? ”Cash in Seconds”, ”Money NOW”, you will have seen it all over the net in the cut throat world of payday loans – if the website looks like Arthur Daley has been associated with it, then the chances are you may be in for a bumpy ride. Stay well clear.
  4. Does the payday loans company have a contact page? They should at least have an email address for you to contact them – if they haven’t, then this indicates they may not want to be contacted.
  5. Do not rush into the first lender you find. Take your time and compare the companies. Using an additional hour or so to get the best lender could save you money in the long term.

Please remember that payday loans are not ideal in most situations. They always need to be paid back and should never be used more that once.