Compare Pay Day Loans

Lender	Details	Typical APR %
	Borrow up to £750. Charges are £25 for each £100 borrowed. Quick online application, immediate response and no faxing required.	1355%	Proceed
	Borrow up to £750. Charges are £25 for each £100 borrowed. Quick online application, immediate response and no faxing required.	1737%	Proceed
	Borrow up to £1500. Charges are £20 to £29.50 for each £100 borrowed. Quick online application, immediate response and no faxing required. Save 20% on your application by using our coupon code CJCASH. (Valid until 31/3/2010).	2356%	Proceed

Pay Day Loans

What is a pay day loan?

A pay day loan is a short-term cash advance until your next pay day.

What is the purpose of a pay day loan?

It can be used for any purpose. However, it is intended to provide emergency funds in order to cover unexpected events and then be paid back on your next pay day.

How much can I borrow?

Loans normally range from about £80 to £750.

How do I qualify?

You need a regular income and a bank account with a debit card. Some lenders may also require a cheque book.

What if I have a poor credit history?

That should not be a problem providing you have sufficient income to pay back the loan and interest.

What if I am paid weekly?

Repayment of the loan would normally be after the fourth pay day.

Do I have to be a homeowner?

No, you just have to provide details of your address.

What if I am self-employed?

This should not be a problem providing you have a regular income paid into your bank account.

Will my employer be contacted?

A pay day loan is completely confidential. No personal information can be passed on without your agreement.

How much will it cost?

You pay back the amount borrowed plus interest. Generally, for every £100 you borrow, you would be required to pay back £125.

Why is the APR so high?

All lenders are legally obliged to state the APR (Annual Percentage Rate) whenever they advertise their rates. APR refers to the amount you would pay over a year. However, pay day loans are not intended to be used for a year, just a month or less.

Note that the cost of a pay day loan is often less than Bank charges for unauthorised overdrafts, unpaid cheques and bills.

Can I have more than one pay day loan at the same time?

No. A pay day loan must be repaid before another can be taken out.

When would I get the money?

Lenders would normally transfer cash into your bank account on the same day. However, depending on the time of your application, it may be the following working day.

How do I repay the loan?

Repayment is usually by debit card, although sometimes by cheque.

Can I continue the loan until the pay day after next?

Some lenders would expect the first months interest to be paid and may charge an additional fee. Some would expect you to start reducing the balance after a set period of time.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

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email: enquiries@the-mortgage-market.co.uk tel: 0845 095 1283

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