At QuickLoansExpress, we offer a great alternative to payday loans in the form of fast online short term loans. Our loans are paid into your bank account in one lump sum, but paid back in monthly repayments.
Payday loans are very expensive and can even be dangerous if not repaid on time, but our pay day loan alternative is much more affordable and is much safer than the traditional payday loan. Still, our loans are more expensive than other forms of credit, and should be borrowed responsibly and with care.
Why do we need payday loan alternatives?
An increasing number of people have been demanding an alternative to payday loans since the historical downfall of the UK’s biggest payday lender, Wonga, which shed light on widespread malpractice within the payday loan industry.
If you’re on the hunt for a suitable replacement to the traditional form of payday loan, you’ll be happy to know that the industry came under the intense scrutiny of the Financial Conduct Authority in 2014 which eliminated most of the problems usually associated with payday loans.
Nowadays, there are caps on payday loan interest rates and the industry is heavily regulated to prevent any further misconduct.
Payday loans are much safer and much more affordable than they used to be, but they are still expensive. Despite this, you’ll be surprised that some credit cards, bank account overdrafts and revolving credit facilities are not always cheaper than a short term loan.
Always compare all your credit options and consider factors like the total cost of borrowing, acceptance rate and repayment flexibility and early repayment penalties etc.
Our online alternative to a payday loan
Quick Loans Express is a direct lender regulated by the Financial Conduct Authority. We provide short term loans online up to £1000. Just like payday loans, our cash loans are super easy to apply for and you can get funded very quickly. Unlike payday loans, our quick loans online offer total control and flexibility.
You can repay as much as you want as early as you want and save on the interest – there are no hidden fees or surprise penalties!
If you’re worried about getting declined, you should know that our proprietary decision engine has a very high acceptance rate, since we don’t put much weight on poor credit history. Instead, we look carefully at your affordability.
We’ve also invested in top technologies which allow us to offer cash in your bank account the same day, once approved.
How our short term loans compare to payday loans
Payday loans are very rigid in that you can only repay your loan in one lump amount. On the other hand, our short-term loans allow you to control the time and amounts of your repayments, giving you the flexibility not only to save money, but also to avoid additional late repayment charges. Most traditional instant payday loans simply did not provide this level of flexibility.
Borrowing a short term loan from QuickLoansExpress is a viable alternative to a payday loan that removes a great deal of stress from borrowers.
Every customer also gains access to a personal login area, where they can control their loan from and close their loan early to save money if they want.
Do you provide loans to people with a bad credit score?
We believe that people with a poor credit rating should still have access to a good loan online. Here at QuickLoansExpress, we put our focus on affordability.
We’ve already helped many people with a bad credit history who were declined for traditional payday loans. We want to provide you with a loan that will help you too, even if you have a bad credit score.
Apply today for up to £1000 QuickLoansExpress if you want:
- Pay back in monthly instalments
- Flexible early repayment with no extra fee
- Total control over your loan
- No need for a guarantor
- A more affordable loan than a traditional payday loan
Should I apply for payday loans with no credit check?
Not a good idea. Any responsible lender will perform a credit check to make sure that if you borrow money, it will not put you into further financial distress.
Lenders will examine your credit file and check exactly how many accounts you have open, how often you are paying them and if you’re managing to keep up with all your payments. Without a credit check a lender can’t make a decision that’s in your best interests.
Moreover, a payday lender who claims not to carry out a credit check could be dangerous and unregulated. We recommend that you only apply with a direct lender or credit broker who is authorised and regulated by the Financial Conduct Authority. You can search the FCA register for authorised firms.
One of the fastest alternatives to payday loans in the UK
Forget slow-loading old fashion payday loan forms. We appreciate your time, and we are using the most advanced Accelerated Mobile Pages technology to make your loan application the fastest in the UK.
It’s not just the speed, we have a high acceptance rate for people with low credit scores, and at 611.74%, our Annual Percentage Rate (APR) is among the lowest in the market, compared to traditional payday loan lenders.
|1 monthly repayment of||£235.80|
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|4th monthly repayment of||£235.90|
What are the Disadvantages of Payday Loans?
Many payday loans lenders are trying to sell the same product that they’ve been selling for years. They seem to have forgotten to move forward with the time and focus on innovation and more consumer-centric products. Traditional payday loans have some core disadvantages:
Many payday lenders look at your credit score as the definitive parameter. For example, a County Court Judgement (CCJ) 5 years ago may influence a payday lender’s decision even though it does not reflect the borrower’s current affordability.
We at QLE like to put things in proportion. We’ll always try to help people who can and want to repay the loan as they work towards reaching financial stability.
Most payday lenders don’t allow you to save through early repayment or closing the loan early. Furthermore, many do not allow flexible instalments either. Our flexible, quick credit is an affordable alternative to payday loans. At QLE, every loan comes with flexible repayment options, for free.
Data Protection laws give you the right to access your personal information. We’ve taken it one step beyond that. In your personal login area, you can all your loan information (consumer credit agreement, summary of borrowing) with one click, and download it as a PDF if necessary.
Don’t compromise for less! Quickloansexpress.co.uk is not just a flexible credit facilitator, we are a direct lender authorised by the FCA and are part of the Western Circle Group. We are big believers in treating our customers fairly and are determined to give you the best loan experience we can.
Other alternatives to a payday loan
Online payday loans are infamous for being very expensive, and a lot of today’s online short term loan alternatives are also quite pricey. So what options are out there for people looking for cheaper alternatives?
If you don’t mind committing to a longer repayment period, personal loans can be an amazing alternative to online payday loans. They are much cheaper, but may only be available to people with better credit.
If you keep getting declined by your bank, you can apply for a loan from a credit union through the Association of British Credit Unions website.
You’ll need to find a local credit union and apply to be a member but it could be worth it to apply in case you need it further down the line.
Borrowing from friends and family
Never a fun option to ask a family member for money, but if you’re in a really tight spot and simply can’t afford to pay any sort of interest, a family member might be willing to help you out. Just make sure you pay them back before any other debts so as not to compromise your relationship with them.
Borrowing from your bank in the form of an overdraft or using a credit card is normally cheap and quite easy – provided you have good credit. Still, if you can, try to compare the costs since some people have reported that borrowing an online payday loan and repaying it early was cheaper than their bank’s credit options.
Apply with us for a reliable payday loan alternative
Forget payday loans. Welcome to QuickLoansExpress’s flexible alternative. Get full flexibility, early repayment and easy instalments, together with a super-fast loan process.
Our mission is not only to get you the money you need fast but to support you throughout the entire process. That’s why we’ve made our quick and simple application form online into a secure AMP page. It’s your money, so don’t compromise!
How an instant payday loan alternative from us works:
- Apply even with a bad credit rating
- Our application form takes less than 5 minutes
- Instant decision at the end of the application process
- Money in your bank account 1 hour after approval
- Repay in monthly instalments
- Pay back early with no penalty using the online login
Don’t waste your time on companies that offer excellent payday loan alternatives but accept only one out of 1000 applications. No matter what your past financial situation may be, we are here for you.