When you need a payday loan, you will either connect with payday loans direct lenders or loan brokers. Lenders have the money and will be the source of the funding. Brokers act as intermediaries, bringing you and the direct lenders together.
If you are seeking a payday loan, it is better to get in touch with direct lenders than brokers. Here are some reasons why lenders are always a better choice.
Ability to shop around
When you apply for a loan directly with a lender, you have the option of comparing rates and selecting the best deal. This way, you can select a loan that costs you the least overall. Applying for a payday loan through a broker will not work to your advantage as the broker will connect you to a lender who offers them the highest commission.
Getting the right loan information
A broker will be unable to give you too much information about the loan. Once you apply and make your needs clear, the broker will connect you with the direct lenders. You will then get the real information on the loan. The websites of payday loans direct lenders have more information on the kind of deal you can get when you opt for a specific payday loan.
Access to prompt and accurate information
Direct lenders have websites that allow you to check out different deals. If you have a question about a loan, you can get in touch with the lender’s customer service. A large number of payday loan brokers do not offer this service.
You can get access to payday loans direct lenders through the allthelenders website. This is the UK’s first website that allows you to compare rates from direct lenders. The site is authorised and regulated by the FCA, giving you peace of mind when applying for a payday loan online.