Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk

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Representative 305.9% APR. Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable)
We are an Introducer Appointed Representative of Quint Group Limited, who are a credit broker not a lender. moneybolt Introduces customers to Monevo Ltd who are an Appointed Representative of Quint Group Ltd. for the purposes of obtaining a loan. LoanLoad does not provide any loan or consumer credit products directly.

Unsecured Loans

Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Loans subject to status. Over 18s only. Minimum loan amount may apply.
Rates from 4.5% APRC to 65.2% APRC are available – the highest rate is for customers with severe credit problems. Loans available from 1-25 years. TYPICAL 10.9% APRC variable

Why people choose us

Low Representative APR

APR takes into account the amount of interest that will be charged to you for borrowing a certain amount of money.

Fair, Fixed Interest Rates

We won’t try and fool you by luring you in on a low-interest rate only for it to change later.

Potential to Payoff Your Loan Early

Some lenders and brokers arrange loans with flexibility at the centre of what they do.

We can Arrange Loans up to £25,000

Apply today and the loan you are looking for could be arranged by our lenders or brokers within a few minutes.

Payday Loans 101: What Beginners Should Know?

Applying for a payday loan is like jumping into a bottomless quicksand – there’s a chance that you may never get out. Even if payday loans have improved since the last decade, their volatility is still imminent and borrowers are still paying outrageous fees. Of course you have the option to stay away from payday loans – there are other types of loans anyway. But what if you really need money in a short time? What if you encountered a distressing financial situation? In this case, the payday loan can bail you out.

Before you head straight towards the nearby payday lending office, you need to understand some helpful points. Borrowing a payday loan is not a joke, so you have to be prepared.

So what is a payday loan really?

Unlike other commercial lenders, payday lenders don’t follow a strict credit check system. Rather, they will assess your loan on two main parameters: employment status and character. If you’re employed and doesn’t have any problem with the law, there’s a big chance that your loan application will be approved. It also works best if you’re referred by a friend or relative.

You Can Get Your Loan Within Minutes

The real problem with commercial loans is the lengthy processing period. It typically takes more than a day before your application is approved or denied. If you even applied for a bigger loan, the situation is more pressing. Business loan borrowers, for example, need to present their business plans and methodologies to the lender. If the plan is favored by the lender, the loan can be released in few days. With payday loans, you can get your money in just minutes. This is especially true with online cash advance lenders. After you got the approval, the lender will send your money to your bank account.

Typical Payday Loans Have High Interest

Since a payday loan can be received easily, it’s probably a loan ‘made in heaven.’ Not quite, though. The first disadvantage of payday loan is the high interest. Regular-paying borrowers usually end up paying more than 150% of their principal. The rates can even go up if the economy is unstable and the payday lender needs to adjust the stakes. High interest is normal in the payday lending industry. If you can’t bite it, choose another debt instrument.

Miss One Term and You’re Trapped

What if you’re locked in with a payday loan and you suddenly cannot repay? Well, aside from the interest, you need to pay penalties. The penalties of lenders vary, but they can range from 10-50% of the principal. Some lenders will even charge larger penalties to churn out more profits in few months. Once you missed a term, you’re trapped. The only sensible choice is to fully repay the loan in the next term.

Payday Loans are Unsecured

Payday loans, no matter how beautiful they’re presented, are unsecured. Unsecured loans are called that way because the lenders don’t issue collaterals – there’s no definite way to get their money if ever you failed to repay. Instead of a collateral system, the payday lender will just send persistent collection agents after you. The lender will also pursue all legal processes to get the amount you owe. Unsecured payday loans are also subjected to frequent changes in rate, even though the lender didn’t issue a major announcement.

Some Representative APR Examples are Inaccurate

Whenever you visit a payday loan website, you’ll see the current APR and the amounts that the lender can offer. Additionally, you’ll also see a representative example of how the rates will add up throughout the duration of the loan. Not all representative examples are accurate. Some are just approximations of the loan interest and other related fees. Since the lender can change the rates freely, the representative example can yield different results from time to time.

Predatory Lending is Still Happening

The old days of predatory lending are now limited, but still existent. Now, predatory lenders are more than capable of getting more money from borrowers. They can do this while under the nose of the law since there are loopholes that they’ve exploited. To minimize the risk encountering a predator-lender, you should spend time in checking reviews. Don’t jump in to the payday loan bandwagon right away. Research about the top lenders in town and understand their rates. Only then you can proceed without getting worried about predator lenders.

Payday Loans are Good for the Economy

You’re probably wondering if payday loans are really helpful or not. This is a situation of perspective; a payday loan can be helpful if it’s not exploited. Think of the payday loan as a last card that you must play when all other solutions have failed. In a grander scale, payday loans can empower the economy. With more payday loans offered, people will have better buying options. This will drive all businesses forward at the expense of high interest and some uncontrollable fees.

Have you understood all of these points? If yes, then you’re ready to apply for your first cash advance loan. Whatever happens, don’t forget to repay accordingly! If no, feel free to contact us for advice from our expert team.

Competitive Examples From Other Companies

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You will need to be over 18 and a UK resident with a valid UK address. You must also have a monthly income (from benefits or a job) and a UK bank account.

Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk

3 most recent personal loan reviews

Review of Avant

The online application is fast and efficient! I was hesitant about "linking in" to my online bank account......However this made the whole application process far quicker! I can honestly recommend Avant - especially if you are worried about being judged on any previous credit history problems......Avant didn't do that! Just a thorough and fair service with good APR.

Review posted by Trevor Donahue, Derry

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Lending Works

Seamless and fluent from application to funds available. Outstanding rate, not match-able anywhere! I can't recommend any higher! Thank you, greatly appreciated and very happy customer.

Review posted by Mark Phillips, Portchester

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Zopa

I do have to say one of the best loan sites i have come across, they make everything so easy, with not very good credit history i did't think i had a chance but they accepted me and i can get my life back on track. Thank you again amigo loans.

Review posted by Wayne Crouch, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All Reviews have been acquired from https://uk.trustpilot.com/ to guarantee authenticity.

MONEYBOLT IS A CREDIT BROKER AND NOT A LENDER. We pass your information to a lender once you have been accepted for a plan. We take a fee from the lender only, once you’re approved and we do not add charges to your plan in doing so.

YOU MUST MAKE ALL AGREED PAYMENTS TO AVOID LEGAL ACTION. If for any reason you will be unable to pay the agreed instalment then contact us immediately. Do not ignore the issue as a default payment will not solve itself.

NEVER BORROW MORE THAN YOU CAN AFFORD. Defaulting on payments can lead to serious and life changing financial issues. Make sure you only accept an agreement that is within your ability to repay.

MoneyBolt.co.uk is a registered trading style of Serpable Ltd, which is an Introducer Appointed Representative of Quint Group Limited and is entered on the financial services register under the reference number 780328. Quint Group Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450. Serpable Ltd is registered in England and Wales (Company number: 10699069), Registered Office, 17 Collingbourne Avenue, Bournemouth, Dorset. BH6 5QR.

Scam Alert – Beware of impersonators, we will NEVER EVER ask for upfront payments, transfer fees or vouchers to guarantee a loan