Need a short term loan or payday loan? To find out how much a payday loan or short term loan could cost, complete your details and you will get a personalised payday loan quote or a short term loan quote. Payday loans and short term loans are available for young people aged 18 to 21 and people with bad credit.
Payday loans are paid directly into your bank account, usually on the same day. The interest rate is much higher than other types of loan. A payday loan must be repaid as one lump sum payment, usually within 30 days. They are designed to cover a temporary shortfall or financial emergency until your next pay day.
Short term loans are paid back over a longer period (up to a year) and are paid back in smaller, more manageable installments.
Payday loans provide easy access to credit, even if you have a bad credit record. If you have a poor credit history, payday loans can be one of the few ways you can access credit. High Street Banks are unlikely to lend to borrowers with low credit ratings, but payday loan companies will often take the risk because of the smaller amounts involved and the fast payback time.
WARNING. Payday loans are often taken out by people who cannot afford them or who may already have other debts. There may not be enough income to repay the new loan and you could get caught in a rising spiral of debt.
To be eligible for a Payday Loan, you need to be a minimum of 18 years of age, be a UK resident, have a valid UK bank account, are employed and receive a regular pay cheque
At 1st Loan, we work with brokers who specialise in Payday loans for people who have an urgent financial requirement, such as a car repair or an unexpected bill that they need to pay now and can comfortably repay when they get their next salary paid The terms of any loan offered will depend on your circumstances. You can apply for a payday loan up to a maximum of £1,000. You can apply for a loan today even if you have a bad credit record. Loans are available only to UK residents over age 18, in employment with salary paid into their bank account.
Taking on a short term loan is something that needs to be fully thought through. It should only be considered in an emergency situation. Short term loans should only be used for temporary money problems; they are not meant to be used as a long term solution. However, if you believe that a short term loan is right for you and you are confident that you can make the repayments on time, please complete the short application form.
You need to complete the short application form to find out how much a loan will cost you.
Please make sure a payday loan or short term loan is right for you before taking it out. You should always think very carefully before committing to any form of credit or borrowing money.
Please remember that Payday loans should only be used for very short term financial needs. Short term loans are not suitable for long term borrowing
If you're trying to manage existing debt or in financial difficulty, consider what your options are before you borrow. For further help on managing your money visit the Money Advice Service.
Our fast, secure application gives you access to multiple lenders, finding you the cheapest loan based on your personal circumstances*.For short term loans, payday loans, car loans, unsecured homeowner loans
This is the bottom line. As a company, we only get paid if we successfully get your loan paid out. We will endeavour to find the most suitable loan or plan for your individual circumstances. We will do everything we can to get your loan paid out as quickly as possible.
If you are looking for a new loan to replace other forms of credit, such as credit cards, Hire Purchase or other loans, you are advised that the duration of the new loan will be longer or the total amount payable will be higher than your existing arrangements
We offer loans throughout the UK
Copyright © 2018. 1st Loan is a trading style of Joel Malach. We are authorised and regulated by the Financial Conduct Authority. Firm registration number 720851. Data Protection Licence Number: Z8904952. Registered Office: Warwick House, Lowes Road, Manchester. BL9 6PJ1st Loan may receive a fee/commission for either referral or completion of your loan application.
1st Loan is a responsible broker, and as such, would not be able to help if you are looking for us to pay out a loan to someone who is unemployed or receiving benefits as a primary income, who is in financial difficulties or cannot afford to make full loan repayments.
Please see our Responsible Lending Code of Practice for further information or for contact details of organisations who can help people in financial difficulties
Please read our Treating Customers Fairly Policy which shows our commitment to treating our clients fairly and meeting their expectations of high quality service.
Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495). This would result in an overall cost of 9.1% APRC. Minimum Term 12 months. Maximum Term 300 months. Maximum APR charged 49.9%.
Representative APR Example: 1212% APR variable. £300 borrowed over 30 days would equal total borrowing of £372.Personal Loans
Rates from 5.7% to 278%. Representative 51.1% APR. Representative example: £2,000 borrowed for 24 months. Total amount repayable is £6,512.44 in 24 monthly instalments of £271.36. Interest charged is £4,512.44, interest rate 112.8% (variable)Short Term Loans
Rates from 278% to 1576%. Representative 305.9% APR. Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% (variable)
This page provides information and advice on payday loans and short term loans