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Payday Loans Direct Lender

If you are looking for a payday loans direct lender, The One Stop Money is pleased to offer an alternative product which is repaid over 6 to 24 months to help you spread repayments. With our flexible instalment loans, you will repay smaller amounts each month to give you some important breathing space. Check your eligibility online to borrow £400 to £2500, with options for people with bad credit too.

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  • APR 295.60%
  • Total Borrowed: £500
  • Total Repay: £962.52
  • Total Interest: £462.52

Representative Example: £500 loan repayable over 12 months £81.25 per month total amount payable £975.00 Representative 295.60% APR fixed

 

What is a Payday Loans Direct Lender?

A payday loans direct lender is one that allows you to borrow money from them directly with no other brokers, parties or middlemen involved. This provides peace of mind for a lot of borrowers because they know exactly who they are dealing with from start to finish. Every aspect of the loan process is handled by the same lender, including the application process, legal agreements, underwriting, funding and repayments.

 

A payday loans direct lender can directly approve your loan and transfer funds into your bank account if successful. By offering payday loans, these are commonly same day emergency loans for small amounts from £400 upwards. The idea is that you receive the funds in one lump sum to help pay off any emergencies or pressing bills and then repay over several months in equal instalments. 

 

The One Stop Money Shop is pleased to offer a solution that allows customers to repay over 6 to 24 months, to give you the needed flexibility when paying off an emergency expense.

What Are The Benefits of Using a Direct Payday Lender?

Direct – As someone who is taking out a loan, it provides more confidence if you know exactly who you are working with during your loan journey. Whilst one has to be aware of payday loan scams, you can be safe and secure knowing exactly who is administering your loan.

 

Authorised and legitimate – Payday loans direct lender must be authorised and approved by the Financial Conduct Authority. If you are working with a legitimate and licensed lender, you can be reassured that you are being treated fairly in terms of rates and repayment terms.

No additional fees – By working with a direct lender, you should not be charged any additional admin or broker fees by an introducer, which should save you money overall.

How Do I Know if a Company is a Payday Loans Direct Lender?

To check that a company is a payday loans direct lender, you can check the FCA register for that company for free – and it will confirm their legal status. This is a very sensible thing to do and check before applying for and proceeding with a payday loan or any other type of loan.

 

In addition, you can run other key checks such as:

 

>Cross-checking the name of the limited company on Companies House

>Checking online reviews

>Checking forums online or social media to see if anyone has used them before.

How Do I Know if a Company is a Payday Lender and Not a Broker?

If you are working with a payday loans broker, the website should make it very clear that they are a comparison service and that they will be receiving a commission for referring you to a lender. This should be clear in the wording around any financial promotions and also by checking the footer of the website.

 

A payday loans broker may also refer to a “panel of lenders” that they work with or mention that they are referring you elsewhere. 

 

The broker will not typically run a hard credit check on your name, but rather a soft check to determine your eligibility. The lender is more likely to run a hard check against your name and they will incur a cost for this.

 

Being able to tell the difference is not always easy, since a lot of brokers pose as lenders and encourage you to fill in an application form. Paying attention to the wording and disclaimers on the footer will help you tell the difference.

 

 

Feature Direct Payday Loan Lender Payday Loan Broker
What they are A company that lends money directly to you A company that matches you with one or more lenders
Who approves the loan The lender itself A third-party lender after the broker forwards your application
Who provides the money The lender The lender the broker connects you to
Application process You apply directly with one lender One application may be shared with multiple lenders
Credit checks Performed by the lender May be performed by several lenders
Speed Often fast if approved Can be fast, but depends on partner lenders
Loan terms Set by the lender Vary depending on which lender accepts you
Interest rates & fees Transparent from one company Can vary widely between lenders
Privacy/data sharing Stays mostly with the lender Shared with multiple lenders and marketing partners
Regulation Regulated as a lender Regulated as a lead generator/intermediary

Can I Find a Payday Loan Direct Lender With Bad Credit?

Yes, most payday loans direct lenders offer loans for people with bad credit – since the product is designed for people with less than perfect credit scores. 

 

Lenders will still have a minimum criteria including being over 18 or 21, having a stable income and employment, UK bank account and mobile phone number and being able to make monthly repayments.

 

Some lenders have a minimum credit score that they will accept, but this varies between lenders. Others are able to consider applications for people with recent or existing CCJs and IVAs too.

How To Apply For a Loan With a Payday Loan Direct Lender

Applying for a quick loan at One Stop Money Shop is designed to be as straightforward and stress-free as possible. First, you’ll need to complete our online application form, which takes just a few minutes. You’ll provide basic information about your current financial situation, including your income and employment status.

Once you submit your application, we quickly assess your ability to repay the loan, focusing on your present financial health rather than your credit history. After reviewing your application, we provide a decision promptly. If approved, the funds are deposited directly into your account, often on the same day.

payday loans direct lender

What Is The Criteria For Applying?

We have developed a straightforward eligibility and acceptance criteria to ensure all applicants and customers have a smooth borrowing experience. To apply for a loan, you must meet the following requirements:

  • Over 25 Years Of Age:

    We are committed to responsible lending, which is to always act in the customer’s best interests and as such you must be over 25 years of age, to apply for one of our loans.

  • UK Residency:

    To be eligible for our loans, you must be a full-time United Kingdom resident. We prioritise serving customers within the UK to ensure we provide a seamless borrowing process.

  • Employment Status:

    Whether you are employed full-time or part-time, we welcome your application. We understand that individuals have different work arrangements, and we consider both employment types for loan approval.

  • Ability To Make Monthly Repayments:

    As responsible lenders, we want to ensure our customers can comfortably manage their loan repayments. Therefore, we assess your ability to repay monthly based on your income and expenses, not just your credit score.

  • Valid UK Bank Account Holder:

    A valid UK bank account is necessary to facilitate smooth and secure transactions. It lets us deposit the approved loan amount directly into your account for quick access.

  • Valid UK Mobile Number & Email Address:

    We require a valid UK mobile number and email address to communicate with you throughout the loan process. This ensures you promptly receive updates, loan offers, and the necessary documentation.

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    Quick and Easy Application

  • ccj

    Bad Credit & CCJ loans considered

  • reliable

    Direct, Reliable Lender for over 18 years

  • montly-payments

    Flexible repayment terms

Frequently asked questions

How Much Can I Borrow From a Direct Lender?

We offer loans from a direct lender that range from £400 to £2500 based on your income, credit score and affordability.

How Do Repayments Work For a Payday Loan?

Our repayments are organised into equal monthly instalments and during the loan term of 6 to 24 months you will pay the same set amount each month. This makes it easy and convenient to know exactly how much to repay each month and the set amount. You also have the option to make overpayments or pay off the entire balance early and this will re-calculate your interest owed and could make the overall sum lower.

Can I Apply if I am Self Employed or Unemployed?

We require all applicants to be employed, either full-time or part-time and earning a regular income each month. However, we are not currently accepting applicants that are self-employed, sole traders, unemployed or on benefits. 

Can I Apply if I Have Been Refused For a Loan Elsewhere?

Yes, we will consider your application if you have been declined or refused elsewhere. All lenders have different criteria which can vary month-on-month depending on their risk appetite and plus, we are able to consider customers with bad credit histories.

What Happens if I Do Not Repay My Payday Loan On-Time?

If you do not keep up with repayments as scheduled, you will receive reminders by email, SMS and phone calls, within the regulatory requirements. Failing to keep up with repayments on time may incur a late fee, added interest and negatively impact your credit score.

Will Applying Impact My Credit Score?

No, we initially run a soft credit check when you apply to check your initial eligibility and this will not impact your credit score negatively and will shortly disappear from your file. Once you proceed to the final stages, a hard credit check will be run to determine your eligibility for a loan.

 

 

Need Help?

We believe in providing transparent information so you can make informed decisions about your borrowing needs. If you have any questions or require further clarification regarding the cost of borrowing money online with us, our friendly team is always available to assist you.

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It takes less than 5 minutes, and you’ll get a fast loan decision. If approved, we can usually pay the money into your account the same day*. We’re a direct lender not a broker, so our loans don’t require any security to approve.

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