Short Term Loans for Bad Credit.

Yes. Payday UK specialise in introducing you to short-term loans for people with bad credit. If you’ve been looking for a bad credit loan in the UK, then we offer you the best chance of success.

Most lenders calculate the interest based on the risk factor. Someone with a poor credit history is deemed to be a higher risk, so might have to pay a higher interest rate than someone with a good credit score. However, most loan companies will deny loans to those with bad credit. We don’t believe you should be punished for a prolonged period because of a past mistake. This is why our lenders pay more attention to your current situation than your past.

Short-term bad credit loans can also appear worse because they are over a shorter period. This means that direct lenders only have a very short time to make a profit. Two approaches are taken to this. Some lenders have an APR rate that reflects the short-term nature of payday loans. Other lenders don’t charge any interest at all, and instead, agree on a fixed fee with the customer.

No. When you apply for a short-term payday loan, lenders only perform a soft credit check. This will not be visible to other lenders on your credit report and won’t harm your credit score in any way. If you go on to accept the loan offer, then the direct lender is required by law to perform a full credit check before releasing the funds. However, if you accept a loan and make all the repayments on time, it should only improve your credit score. The flip side is that if you fail to make any payments, it could damage your credit score.

Short-term loans through Payday UK can be used for any purpose. The majority of our customers need extra funds to cover an unexpected bill, such as a car or house repair, or vet or medical bill. Whatever you need the money for, we understand that most of our customers need access to the money quickly. That’s why our lenders do everything they can, from the instant decision to a process that can be completed online, to get the funds into your bank account as quickly as they can.

We provide access to loans from £50 to £5000. You can apply for any amount within this range, even if you have bad credit. You can also select a repayment period between 3 and 36 months. This allows you to tailor a loan to your exact requirements.