allthelenders works with a number of new payday lenders in the UK who have recently entered the market. As part of being regulated by the FCA, new payday loans companies are required to feature on at least one price comparison website. As the most established site for online short term lenders, we proudly feature over 50 lenders and if you are looking for new payday lenders, we can help you compare rates and find the best lender for you.

Customers can borrow up to £2,500 and we are regularly adding new payday lenders in 2019, offering a range of products with overdraft facilities, top ups and the options to repay over 3 to 24 months.

Simply click on ‘compare now’ where you will be taken to our price calculator. Choose how much you wish to borrow and how long for and we will give you some instant results with the best options available, for good credit and bad credit.

Why Apply with a New Payday Lender?

New payday lenders come to the market with a fresh approach, new technology and competitive rates. Referring to new loans companies such as Stepstone Credit, Fernovo, Buffa, Dot Dot Loans and MyKredit – there are a number of new lenders in the market with more innovative products and lower interest rates.

Different criteria: The criteria for new payday lenders can sometimes be more favourable to bad credit customers, with new technology available to assess credit and affordability more accurately. If you have been declined by other lenders, you may find a better chance of approval with a new credit provider.

Better loan terms: With the FCA’s price cap at 0.8% per day, new lenders are constantly entering the sector looking to offer products at lower rates. This can suit potential applicants who have a good track record of paying on time because they may be able to save money on a typical short term loan.

Better regulated: With the FCA taking over from the OFT in 2014, the payday loan industry has improved significantly in terms of responsible lending and treating customers fairly. With many lenders leaving the industry, new entries are following strict regulation and this has resulted in better consumer confidence and a much cleaner industry.

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What Can New Payday Loans Offer?

New payday lenders can offer different products including top up facilities and overdrafts allowing you to borrow smaller amounts on top and more flexible finance if you need it.

In addition, companies that enter the market in 2019 are going to be more sales and customer service focused, giving you extra attention where possible. You should also be able to receive funds as soon as possible once you have been approved, with most lenders able to transfer money to your account within 15 minutes.

Many companies will also give you the option to repay early with no added fees. So if you find that after a few weeks that you have the finance to clear your loan, you can do so – and you will save money in the process.

What is The Criteria?

Each payday lender that features on allthelenders has a different loan application but you are typically required to enter your name, age, residence, income, employment and expenses and the entire application is usually completed online within 5 minutes.

To be eligible to apply, you must be:

  • Over 18 years
  • UK resident
  • Employed (full-time or part-time)
  • Able to make monthly repayments
  • No recent bankruptcy, CCJs or IVAs
  • Valid mobile number and email account

Upon completing an application, you will typically be required to sign your loan agreement online using a link sent to you by email and a PIN code sent to your mobile phone. Your application will always be put through a series of credit and affordability checks to ensure that you can afford to repay you loan without falling into financial difficulty or arrears.

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Apply with New Payday Lenders with allthelenders

allthelenders gives you the chance to apply with new payday lenders online. Our calculator is free to use and will filter the results so that you can compare rates and find the best loan for you. We do not take any information from you or charge you any fees, you can simply click on the lender of your choice and apply with payday loans direct lenders only.

We only work with direct lenders meaning that your entire application process from start to finish will be handled with a lender who we have verified and is fully authorised by the FCA.

Payday loans are used for emergency purposes and should not be used for material goods or frivolous spending and not used to pay off other high cost loans. For more information, visit moneyadviceservice.org.uk.

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