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Representative Example: Rates from 45.3% APR to 1575% APR. Minimum Loan Term is 3 months – Maximum Loan Term is 36 months. Representative Example: Borrow £1000 for 24 months. Annual interest rate 70% (fixed). 24 equal instalments of £77.48. Total amount to repay £1,859.52. Representative 97% APR (variable).
^Making an application on allthelenders will not affect your credit score. If a lender accepts your application you will be redirected to their website to finalise your loan and the lender may perform a full credit check. We are a credit broker and not a lender. High cost short term credit is unsuitable to support sustained borrowing over long periods and would be expensive as a means of longer term borrowing
allthelenders offers independent and impartial comparisons of UK payday loan and short term loan lenders. Use our free comparison tool and get the best deal on your next loan
We only work with direct lenders so you will never be sent to a broker using allthelenders. All of the companies we work with are FCA authorised and specialise in helping people with poor credit.
When you search for or find a payday loans direct lender you will be dealing with the actual company that will lend you the money. They will be the company that you have a legal loan agreement with and they are not a broker or any other kind of intermediary.
It can sometimes be hard finding the actual lenders themselves, hidden amongst a world of brokers that look like lenders, direct lenders can often be hidden deep down the search results.
There are many payday loan broker sites around that can look very similar to lender sites. They will often use the same kind of language you would expect a lender to use, something like ‘We can get your loan to you in 15 minutes’, however, what they really mean is that they can send your details to various lenders and the lender may be able to get the funds to you in 15 minutes.
It can be very confusing, and frustrating, for the consumer when you go through an application believing you’re applying directly to a lender and only right at the end you see they’re a broker.
If you are insistent on applying directly to a lender, there are a couple of things you could do to make sure you’re applying to a lender:
There are advantages and disadvantages to both. On the whole, you may have more success applying with a trusted and fully authorised credit broker and they’ll have access to a much wider market.
In many cases using a broker will help you get the best rate possible. Applying with a lender is convenient because you know exactly where your details are going, but by doing this you only have one chance at getting a loan – once that lender credit checks you it will leave a mark on your credit file and if you keep applying directly to lenders, this will harm your credit score.
If you consider a broker, choose one that allows a soft search of your credit file to see which lenders would accept your application first. We use this technology on our price comparison and we can search over 30 different lenders with one simple application. We can then tell you which lenders would accept your application before you have to undergo a full credit check.
There are several benefits to applying directly with a lender, including:
Generally, no. Lenders are able to offer you actual rates where brokers may be able to offer you an estimate of the cost of a loan, however, that’s not to say that the broker is wrong.
If a broker says the cost of the loan would be approximately £200 for example, if you apply with the lender the loan would still be the same cost regardless of whether you applied directly or not – using a broker doesn’t make the cost of the loan more expensive.
Brokers will only show you results and amounts that the lenders themselves return to them, the numbers you see are not generated by the broker. However, the lender could only return an approximate result based on a soft search so there is every chance that when you leave the broker site to apply with the lender, the rate will change.
Occasionally you may only find some lenders on broker websites or on comparison websites, like allthelenders.
We work with not only the mainstream lenders that you may have heard of but also newer – more niche – lenders that you may not ever come across without using a site like ours.
We are one of the largest price comparison websites for payday loans and short term loans so if you’re looking for a wide choice of lenders and honest, reliable price comparisons for short term loans then head over to our comparisons and compare payday lenders now.
Warwick Financial Services Limited is an authorised credit broker and not a lender. We may receive a commission from a lender that accepts your loan application, this commission does not affect your chances of acceptance nor the cost of your loan. Find out more about how our comparisons work here.