Loans in the UK FAQ Archives - QuickLoansExpress
LAST UPDATE 28.07.2021

FAQ Page - Loans in the UK

Q: Can I get a loan if I am unemployed?

Yes, if your lender can see that you have a way of repaying the loan – whether through benefits, passive income or anything similar, you may be eligible for a loan – even if you have bad credit. Quick loans Express, therefore, can help you if you’re looking for loans for bad credit with no guarantor, no fees for the unemployed.

Q: What is the easiest short term loan to get in the UK?

If you define easy as a simple online application form with no documents necessary, instant decision and funding within an hour or two, then a short term loan from Quick Loans Express may well be the easiest short term loan to get UK. On top of that, we’re a fully FCA authorised lender who truly cares about our customers, so you can relax. You’re in good hands.

Q: Can I get a cash loan if I'm 18 years old?

Yes, Quick Loans Express offer cash loans for 18 year olds who show that they will be able to afford the repayments. Many lenders prefer to loan only to people with a credit history so they can predict if the borrower will repay the loan. However, at Quick Loans Express we don’t rely on just the credit history but also on other factors such as affordability, allowing us to offer loans to younger adults.

Q: Can I get Xmas loans if I have a bad credit score?

Yes, but you may find it harder to be approved. Almost everyone needs more money Xmas time, so some lenders tend to be even more cautious about lending to risky applicants. However, at Quick Loans Express we don’t judge you just by your credit score. We do offer Xmas loans for bad credit; if we can see you’ve been improving lately and are likely to afford the loan, we’ll do our best to help you celebrate Xmas the way you want to.

Q: Are payday loans a reliable way of getting money fast?

You have money coming soon, but you need cash now. If this is you, make sure to apply with an FCA-authorised direct lender like Quick Loans Express. A short term loan can be a reliable way to get the cash fast. The entire process takes just a few short hours, from application to transferring the money (if approved). While it is always better to borrow from a family member or friend, if this isn’t possible then fast and reliable payday loans may be a big help.

Q: What is a fast loan with no guarantor?

A guarantor is a person who makes a promise to a lender that they will pay a loan or alternative type of debt instead of the debtor, in case of default. A guarantor usually signs a contract that states that if the borrower is unable to pay the loan back, the payments will be taken over by the guarantor. The term commonly refers to financial assistance. Not everyone can find someone willing to take the responsibility of acting as a guarantor. They can choose to take a no guarantor UK fast loan instead. Taking a quick loan without a guarantor means that you bypass the additional paperwork associated with a loan that requires a guarantor. You also don’t have to find somebody who’s willing to guarantee your loan for you. This dramatically speeds up and simplifies the application process. That said, interest rates can be higher for no guarantor loans since they tend to be more risky for the lender. It also might be difficult to get your loan approved especially if you have a low credit score.

Q: Why should I search for a 1 hour online payday loan?

If you are in an emergency and need a payday loan as soon as possible, it is worth your while searching for 1 hour online payday loan or a loans in 24 hours etc. as they are available and easy to apply for. Quick Loans Express, if approved for our payday loans online, will offer you a payday loan within 1 hour (during office hours).

Q: What is the difference between a online payday loan for bad credit and a bad payday loan?

Choose lenders that offer payday loans online with bad credit rather than bad credit loans. It sounds complicated, but some ordinary payday loans lenders may be willing to take into consideration your current affordability as well as your credit rating. A bad credit payday loan is a bad payday loan. The interest rates can be crushing and unethical.

Q: What should I do if I believe I have been targeted by a loan shark?

If you are in this position, there are many money help services to turn to who can advise you what to do. Hence, loans sharks are not the answer! Loan sharks can be deceptive, and you need to be able to spot them when you search for payday loan lenders online.
Here is a list of things you should look out for on lender websites:

  1. Is there full contact details, a legitimate address, a phone number on their website? If you can’t trace them, don’t use them.
  2. Can you click on the FCA authorisation number to check they are legal? If you can’t click on the number, don’t click on their apply now button.
  3. Does the online lender clearly state themselves as a direct lender or broker ? If it’s unclear, they obviously don’t want you to know, transparency is vital!
  4. Are you receiving cold call and spam ? No reputable lender will cold call you offering you good online payday loan deals. Do not respond to suspicious emails.
  5. Does the website have a secure connection? A secure site would have 'https:' in the URL bar of their browser.
  6. Is the lender using complicated language to explain simple terms? As a result, if you aren’t clear, steer clear!

Q: What are best online payday loans?

Most noteworthy, best online loans do not mean without a credit check. Therefore, a best online payday loan is one from a direct lender and one that offers you competitive interest rates. Furthermore, always look to see if the lender is FCA authorised. In addition, look for easy to apply, swift and safe lenders that care about your financial stability and not their back pockets. Finally, apply to best rate payday loan lenders who do not charge an application fee.

Q: Why should I get a payday loan online from a UK lender?

Borrowing money from an FCA authorised UK online loans lender is vital. Any UK lender that is FCA authorised is bound by their legal laws of conduct which is beneficial to you. For example, interest rates cannot rise higher than a certain amount. You can repay early and even cancel the loan within 14 days under the Consumer Credit Act. Furthermore, the FCA does not cover borrowing money from outside the UK and therefore may not be legal or legitimate and can cause much financial trouble.

Q: Why are online loans better than high street shops?

There are many advantages of UK Online loans as opposed high street lenders, these are just a few:

  • Speedy
  • More Convenient
  • Easier Access
  • Easy to compare prices and payday loans
  • Lower Rates
Take advantage of these and apply now with Quick Loans Express.

Q: Will I find lower interest from loans online or on the high street?

Definitely online! The internet hands the power to the customer and not to the businesses, in this case, the borrower. Because the borrower can compare prices, lenders must keep their prices and interest rates competitive. Reviews are another significant aspect of the power of the internet and customer compared with to the lender. If a borrower wants to check the legitimacy or the customer service of a website, there are many review sites they should use. If a person isn’t happy with an instant loan online lender, it is effortless for them to write a negative review that can profoundly impact business. Often, you can tell how professional the lender is by the way they respond to good and bad reviews.

Q: What are the benefits of applying for instant payday loans online?

What is promising is that whenever you deal with an internet lender like Quick Loans Express, the approval and application processes don’t require you and a storefront lender to meet personally. With instant online loans, you’ll be able to apply anywhere you have access to the internet. You can apply away from home, or with your mobile on the go. You are not confined to going to a workplace during store hours. Quick Loans Express’s application is available 24 hours each day, seven days per week.

Q: Are there alternatives to same day loans?

Because same day loans have a high APR, they are usually left as a last resort for people who are unable to get finances anywhere else. However, there are a number of choices for pay day loan alternatives no guarantor such as bank loans, credit unions, borrowing from friends and family, government financial support and university loans.

Q: Are loans online good?

We may be biased, but yes! There can be nothing better than applying for an online loan from anywhere at anytime and receive the online loan UK almost instantly. Besides for being quicker, it also allows you to make your own choices without feeling pressured to take the loan either way. Furthermore, the repayments are strategic and do not require much more than your consent.

Q: Are cash loans a good idea?

Before considering taking any loan, you must measure whether the costs of the quick cash loan against your ability to repay it and if it will negatively affect your credot score. We do not encourage you to take out an instant cash loan for bad credit if you do not absolutely need it for an emergency or for something that you are sure you can repay back soon.

Q: Do Quick Loans Express offer doorstep cash loans?

Quick Loans Express does not offer cash loans to your doorstep. However, this doesn’t mean that our loans take any longer to receive. There is no waiting around if you apply for our quick cash loans online and you can receive cash in your bank within an hour if you are approved for your loan.

Q: How do I know which short term loan in the UK is right for me?

There are many different lenders in the UK that offer fast cash loans at different prices and offering slightly different things. These are the thing you should consider when looking for instant cash loans:

  1. Interest rate (sometimes higher interest may end up costing less if taken for a short amount of time)
  2. The length of time you need the cash loan – longer equals higher interest price
  3. A cash loan with a guarantor or without one
  4. Direct lender or broker (direct lender is cheaper and less complicated)
  5. Strict or flexible repayments
  6. Make sure you get a reputable and reliable FCA authorised direct lender
Finally, short term cash loans are expensive and are not meant to be used as a long-term fix. Financial help is available for those struggling to take control of their finances, and they can help you if you contact them.

Q: What is the difference between a short term loans and a personal loan?

A short term loan can also be referred to as a payday loans, this means:

1. A small loan amount, £50 - £2500
2. Takes at least less than a week to receive the money
3. You have less than a year to repay (depending on amount)
4. Mostly they are unsecured loans

On the other hand, a personal loan means:

1. You borrow a larger amount, £2000 +
2. Takes longer to receive
3. You may need a guarantor
4. The repayment period can stretch over a long time.

Q: Why do payday loans affect your credit?

Any credit that you need may demonstrate that you do not have an income that matches your expenditure. Payday loans, credit cards and other forms of borrowing organisations, need to work out if you can afford to take out credit. The less likely you can afford a loan and make repayments, the riskier it is for a company to lend to you.
While your application for a same day loan will leave a footprint on your own credit report, it should not affect your credit score if you are approved and don't miss a repayment. However, applying for lots of loans at the same time will have a detrimental affect on your credit score. If a lender refuses to offer you a loan, it is best to wait a little before applying again or falling for a same day loans no credit check. However, be assured that Quick Loans Express offer direct lender payday loans for bad credit if approved.

Q: Do Quick Loans Express offer payday loans with an instant decision?

The answer to this is, yes! We offer instant decision payday loans . All you need to do is fill out our online application form and you will get an instant lending decision. We know that borrowers want loans quickly, we do our best to offer you an efficient service with instant decision payday loans.

Q: What loans do we provide?

We provide short term unsecured same day loans of up to £2,000. We aim to provide people with quick cash options in emergencies and if they can afford repayments.

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 three hours!

  • Direct lender
  • Bad credit welcome
  • FCA authorised
  • No fee to apply
  • Instant decision
  • Same day payment
  • Get up to £1500
Representative example: Borrow £700 for 5 months. 1st monthly repayment of £235.80, 3 monthly repayments of £235.80, last monthly repayment of £235.90. Total repayment £1,179.10. Interest rate p.a. (fixed) 222.79%. RAPR 832.04% Our APR includes all applicable fees. Daily interest is capped at 0.793%.