The One Stop Money Shop offers loans repaid over 6-24 months to give you added flexibility and to help you spread repayment over time. We can fund loans on the same day as long as they are approved by 3:30pm. You can borrow £400-£2,500 for an emergency expense or important purchase using our online application form.
Flexible – With the option to repay over 6 months, you have plenty of breathing space to repay your loan. For people that use payday loans, the requirement to repay in full at the end of the month can be stressful and lead to dependency on high cost loans. But with a 6 to 24 month option, we are proud to offer a flexible solution to those who would like a little bit of extra time to repay their loan.
Receive Funds Upfront – We transfer your 6 month loan to you in one lump sum. If you have to pay for an emergency such as a car or household repair, you can use the funds immediately to fix your problems and then repay over 6 months in 6 equal monthly instalments.
Affordable – When compared to alternatives such as bank overdrafts, credit card overdrafts and payday loans, our 6 month instalment loans offer an affordable solution for those looking to borrow money.
Same Repayment Amounts Each Month – One Stop Money Shop makes life easy. We confirm the amount you are repaying each month and arrange a scheduled repayment date for this to come out of your account each month for 6 months, usually the last Friday or last working day of the month.
Can Repay Early – If you find that you are in a position to repay your loan earlier, you can absolutely do so. You will not be charged any early repayment fees and will save on the overall interest you are charged because your loan is open for less time.
We are an FCA regulated and authorised lender in the UK (registration number 713424) and we have been providing affordable short term loan solutions since 2002.
As a direct lender, we are able to process your entire loan experience from the start to finish. Our small and experienced team can approve your loan and transfer monies to your account and there are no other brokers, middlemen or unnecessary fees involved.
Transparency for us is key. Upon completing your application form online, we will provide an immediate decision and if you wish to proceed, we will send you an online loan agreement with all the clear terms and fees outlined for you to see.
We do not charge any fees for applying or using our website and only charge you the loan repayments and interest which is clearly shown to you before you proceed.
We understand that when people are looking to borrow money over 6 months, they are likely looking for it to be funded immediately. If your loan is approved before 3:30pm, we are able to transfer funds to your bank account on the same day of applying.
Yes, we are able to facilitate 6 month loans for people with bad credit histories. We always run credit checks as part of our commitment to responsible lending, but are willing to take a view on adverse credit histories, including those with poor credit and CCJs (see CCJ loans).
Our criteria requires customers to be full-time residents in the UK, have a stable employment, income and be able to afford repayments. If you meet this criteria, we will certainly consider your loan application and every customer on a case-by-case basis.
Representative Example: £400 loan repayable over 6 months £115 per month total amount payable £690.00. Representative 644.98% APR fixed
You will have scheduled repayment dates each month of the duration of your 6 month loan. The repayment date is usually the day that your get paid from work or the day after, to allow money to enter your account. For most of our customers, this is the last Friday or working day of the month but you may also choose a specific date such as the 25th or if you get paid on a four-weekly cycle.
You will receive an SMS and email on the days leading up to your repayment as a reminder to ensure money is in your account available for collection. The funds are automatically collected by our system, because we would have verified your debit account upon applying. Therefore, we will collect repayments for you and there is no need to make a manual transfer, call up or go to the bank, since this is all taken care of.
To apply for a CCJ loan, you need to meet the following criteria:
Complete a quick Online Application in just 5 minutes for instant provisional approval.
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Our entire process is online and can be completed by desktop, laptop, mobile or tablet 24 hours a day, 7 days a week.
We require you to complete some basic details including your name, address, DOB, contact details, income, expenses, the amount you would like to borrow and how long for.
We review your application and make sure that it is the right fit for you, including the loan amount and rates offered. Whilst a lot of our processes are fast-tracked, we may request a phone call or proof of income and employment to process your loan application further.
If your application is approved, we will send you a clear and transparent loan offer with all the necessary terms and conditions. All the information you will receive is electronically sent by email and SMS and can be signed online. Take your time to read it carefully before you sign it. Once you sign the agreement, the money will be sent directly to your bank account, usually within the same day or next business day.
Is 6 Months The Maximum Loan Duration?
No, we offer loans ranging from 6-24 months giving you extra breathing space if you need it and the option to extend your loan if you would like more flexibility to repay. Extending your loan will incur more interest since you are charged a daily interest for the number of days that your loan is open for.
What Happens If I Miss A Repayment?
If you miss a repayment, we will send a follow up reminder via email, SMS and a phone call to check in with you. If you are having repayment trouble, we will assist you as much as possible. If time has passed without any communication or response from you, your loan may be subject to added fees, late penalties and it could negatively impact your credit score.
How Soon Can I Receive My Loan?
We always aim to approve your loan and transfer funds as quickly as possible. If your loan application is approved before 3:30pm, we will be able to send monies on the same day. During weekends, we aim to complete loan applications as fast as we can or the next business day.
Do You Offer 6 Month Loans With No Credit Checks?
We always carry our credit checks with Equifax to determine the eligibility of our customers and to ensure that our borrowers can afford their loan repayments and do not have trouble paying back. If you are looking for 6 month loans without credit checks, you can consider alternative options such as credit unions, borrowing from family and friends or speaking to debt charities such as StepChange and Citizens Advice Bureau.
Will Applying With The One Stop Money Shop Impact My Credit Score?
No, by simply applying with The One Stop Money Shop will not affect your credit score or your ability to be eligible for other financial products.
Are Your Loans Secured Or Unsecured?
All loans from The One Stop Money Shop are unsecured and this means that you do not require any security, collateral or guarantors to be eligible and approved for a loan. Your eligibility is based on factors such as income, affordability and credit score and we have a number of internal processes which allow us to check these and approve your loan as soon as we can. You do not require any security in the form of property, cars or valuables to be eligible.
