Representative APR 1172% (Variable)
Representative Example: Borrow £300 for 30 days. The total charge for credit is £72.00. Total amount repayable is £372.00.
Fixed interest rate of 292% per year.
Few years back mobile phones have only two options of communications, either voice calls or text messages. SMS were the only way for fast and written communication. To apply for short term loans via mobile text are known as text loans.
The person who has already taken loan from any lender can apply for subsequent loan with a sms request, as that lender already has the financial details of this borrower.
Now a day’s technology has rewritten the game rule. Smart phones have re-engineered the loan application as well as its approval procedures. With this hand held device one can search the best funding options in few clicks, also can apply and accept loan deeds online. Lenders are also well equipped with modern art of technology so can perform credit check in few seconds and give instant decision on application. If they consider approving the credit them transfer of money is almost real time to the bank account of the urgent needed borrower.
As we know credit score and other related information of the loan seeker is available in internet that can be verified quickly, bank e-statement give full picture of monthly income and expenditure so lenders will call for any physical documents in exceptional case only.
Any regular employed UK citizen getting salary in bank account can apply for these loans.
Applying for loan with direct lender is very beneficial in terms of low cost as well as fast decisions so one should apply with direct lender only. Some popular direct lenders in UK are Cashflot, Wageme, 100 pounds etc. So you can search online and get free quotes from them.
There are many loan compare sites in UK where you can know their APR and different types of loan availability.
This online portal provides fast lender search for your urgent need without charging any money. You can apply here by putting basic details to decide your loan eligibility. We share this with our associated direct lenders who are approved by FCA for their consideration. If they are interested in funding you, they will send a free loan quote for you. So this is best way to get free online quotes to compare with others in order to get cheaper loan.
We are not a broker or lender but only loan search online entity. We have no role in credit decision. If you agreed for loan through us, we will get small kickback from lender.
We will not bother about your credit score, we welcome all sorts of credit applicants, and even a bad or very bad credit score is ok for us. We do not check credit score at our end this is the job of direct lender who is planning to lend you.
As these loans are based on salary income of the applicants so no guarantor or collateral are required.
With loan quote lender will provide a loan repayment schedule, according to this amount will be auto debited from your bank account on that day.
Earlier text loans or payday loans are approved for 7 days to 30 days only and borrower have to repay whole principal plus interest in one go on salary day. But now these loans are available for longer period of time like 3 month, 6 month, 12 month or 18 month also and borrower can choose any term with equal monthly installments.
When term was limited to 30 days then most of the lender approve only for smaller amount starting from 50 pounds to 100, 200 , 300, 400 or maximum 500 pounds. But after introduction of multimonth loan term the possible loan sum is increased many times and now some lenders are accepting loan up to 5000 pounds.
As these loans are unsecured in nature so lenders have very strict view on loan defaults. They can impose a penalty, use the services of third party loan collectors, refer your name to credit score agency for adverse entry or file a legal case against you.
If you feel you inability in timely repayment then informs your lender promptly so that you can avoid above situations and negotiate with lender for loan rollover or reschedule the loan term.
If you have any outstanding loan in your account then never try to pay off with these loans, as text loans are costly in compare to secured loans. Any misadventure can put you loan trap and make your life troublesome.
If you have expect sufficient monthly savings in coming months but feeling cash crunch in current month only then these loans are good for you.
Operator of this website is not a lender, broker or debt adviser. We have tried to put text loan related information in one place by going through with different sources including internet. We do not claim any authenticity of any or all information given here. We are working with a group of lenders who have all required licenses and approvals of data protections and landings in UK. Loan approvals or rejection is only lender’s right and we have no role in it. If you have taken loan from any of our lenders you should contact him for any query or suggestions. We work for small commission from lenders if our introduced applicant takes loan from them. It is up to visitor of this site to go for loan with this website or not.