88 QUESTIONS ANSWERED
LAST UPDATE 20.08.2018
FAQ Page - Direct Lender
Q: Are you a lender?
Yes, we are direct lender offering short term loans. This means you apply to solely us and no other lending company or broker.
Q: What’s wrong with illegal loans?
We at Quick Loans Express strongly encourage you not to turn to 'illegal lenders', sometimes known as loan sharks. This is for several reasons including:
- Extortionate interest rates
- Unclear loan terms
- Lenders often get violent if timely repayment is not made
- No legal protection should anything go wrong
You may have a bad credit history, but don’t feel that you have to search for illegal loans. There are lenders such as Quick Loans Express who do offer same day loans for people with bad credit
, if they can see that you’re making an effort to improve. Apply for your safe, legal loan today!
Q: Where can I find fast loans in the UK?
Finding a fast loan in the UK has never been simpler. The two options are fast loans online in the UK or on the high street. However, we recommend you use the online option. Its quick and you can compare different lenders for the best fast loans. Many leading fast loan lenders operate online. To make sure it is UK based, you should make sure that the website is ‘co.uk’ as in quickloansexpress.co.uk. UK based lenders understand the normal income types and rates for the UK and must follow the FCA regulations and is, therefore, a much faster and safe way to borrow.
Q: What is better, a direct lender or broker?
A fast direct lender, like Quick Loans Express, is one that moves the funds straight into your account. You fill in your details and correspond directly with us – the lender, and we process your application and payments. This process is different from that of an agent, known as a broker, who sources the payday loan for you. People apply for loans through a direct lender for two reasons. Firstly, because they have poor credit, they want a lender that can guarantee them direct funds. Secondly, they want a responsible lender in the UK because they would like to save time and money.
Q: Why are fast loans with no credit check unsafe?
A fast loan with no credit check is where you borrow money from loan companies; however, they do not factor in your credit history. They don’t place much weight on prior lending, hence the term “no credit check loan”. As a responsible and FCA authorised direct lender, Quick Loans Express cannot offer you our one-hour fast loans with no credit check. Credit checks must be performed before giving you a loan as authorised by the FCA, a lender that doesn’t is irresponsible.
When you’re having severe credit problems, you may find it hard to obtain a fast loan. This is especially true if you are unemployed. Even though it’s tough to raise the desired funds, you will eventually discover a way that doesn’t jeopardise your financial future. Even if you have a poor credit history, it is best to avoid taking no credit check fast loans . This is because they are not FCA authorised and can cause you to get into a severe financial situation.
Q: Where can I find payday loans online no credit check from a direct lender?
Be advised, instant payday loan lenders that offer no credit check loans are not likely to be legal. The FCA instituted this rule of not accepting payday loans online with no credit check in the UK from a direct lender or broker to avoid people taking out loans they can not afford. However, in some circumstances, lenders may be willing to offer online payday loans for bad credit. As a result, these payday loans tend to have a high interest rate, and it is important to evaluate whether there is another way.
Q: Should I compare between online loan lenders?
Yes. We recommend you compare our prices with other online lenders. This way you find the online loan that best fits for you. Comparing loans online is another advantage of using online loans. Consequently, this is almost impossible to do with high-street lenders. How will you compare their prices? Go to the store? Call them up? Comparing short-term loans online has never been easier. There are many comparison websites to choose from; although most secure payday loans online should state their interest rates on their websites.
Q: Should I take a payday loan with no credit check from a direct lender if I’m desperate?
Having a bad credit score often is the defining line between successfully getting or not getting a payday loan. Nevertheless, even if you are desperate for payday loans direct lenders no credit check, it is not really an option. You may be better off turning to other lending options or contacting a money charity for help.
Q: What is the cheapest way to take out a payday loan?
There are many ways to ensure your payday loan is reasonably priced and cheap. First of all, try to take a loan out with direct payday lenders. Using a direct lender will help you avoid additional costs. The most important thing to remember is only to borrow the amount you need. Not less and not more! If you take out too much, you may end up paying unnecessary interest; if you take a loan of too little, then you may end up paying more interest than if you would have taken it out just once.
Q: Why do lenders charge extra fees?
There is no reason why loans for bad credit, no guarantor loans or loans from a direct lender should have extra fees. A broker, on the other hand, may add additional fees to your loan for using their service. There are many honest lenders online who offer bad credit loans, no guarantor, direct lender with no fees. Quick Loans Express is just one such place.
Q: Who buys payday loans?
Many people may use payday loans, and it is not limited to only people with good credit scores. Lenders, like Quick Loans Express, offer direct lender bad credit payday loans to people with bad credit scores. Often it is people who find themselves in an emergency who do not have the spare cash but are managing on their regular paycheque that are payday loan users.
Q: What is a direct lender?
A direct lender, as opposed to a broker, has many advantages:
1. There are no extra broker fees. You are charged only the represented APR of the fast loan.
2. Your name is not passed on to other payday loan lenders without your permission so no annoying emails.
3. Direct lenders are generally faster and easier to deal with.
4. Communicate directly with the payday loans direct lender.
Quick Loans Express is a direct lender that cares about getting you a cheap and good payday loan in times of emergencies.
Q: Why do so many people rely on payday loans?
Life often throws us unexpected emergencies, and with most people stretching their paycheque to last the month already, they have no savings to help them in times of emergencies. Instead, they turn to payday loans from UK direct lenders. A payday loan allows them the breathing space to deal with the emergency and pay later in instalments.
Q: Can I get a personal loan for bad credit from a direct lender?
Quick Loans Express specialises in short term loans rather than personal loans. With a personal loan, you can borrow higher amounts for more extended periods of time. We provide short term loans of between £250 - £2,000 with repayment options of three to six months. We do not think bad credit should be stopping you from getting a loan. This is why we take other factors into account besides for your credit score when you apply with us for a short term loan online.
Q: Are payday loans for bad credit from a direct lender in the UK safe?
When looking for a bad credit direct lender loan you want to keep yourself and your information safe. All FCA authorised and regulated direct lenders have a set of rules to follow which ensures customers stay safe throughout the cash loan lending process. So, if you are looking for a safe lending experience, try Quick Loans Express where we are FCA authorised and keep all your confidential information safe.
Q: Are no credit check payday loans from a direct lender legal?
Payday loans with no credit check from direct lenders in the UK are not likely to be legal. The FCA requires all payday lenders to do a credit check on loan applications before granting any amount of money. If you are offered instant payday loans with no credit check then you should keep away from these kinds of lenders - they are loan shark and are not safe to use.
Quick Loans Express
We like to keep things simple. If you have any questions about the way we work, take a look
at the FAQs below, or contact us. Ready to go ahead? Apply now and get a decision within
- Direct lender
- Bad credit welcome
- FCA authorised
- No fee to apply
- Instant decision
- Same day payment
- Get up to £2000
Representative Example: Borrow £700 for 6 Months, 6 Monthly Repayments of £203.22.
Total Repayment £1219.32, Interest Rate p.a. (fixed) 74.19%. Representative APR: 696.83%