FAQ - Loan.co.uk

Do you really pay me MoneyBack
How do I get my MoneyBack offer
What are your eligibility criteria?
Why do you need this information?
Do you use credit scoring or credit reference agencies?
I have bad credit history - can I still apply?
I don't have a debit card - can I still apply?
How do I apply?
When will I get my money?
How will I get my money?
How do I pay back my payday loan?
Can I defer my Payment?
What if I have problems paying?

Do you really pay me MoneyBack

Yes - it's as simple as that
How do I get my MoneyBack offer

Once you have taken a loan we will transfer your MoneyBack amount directly to your bank account.
What are your eligibility criteria?

If you are 18 or over, in full time employment earning £750 per month or more, you are likely to be eligible. You will need a bank account that accepts direct debits and we are required to prove your identity.
Why do you need this information?

As a responsible lender we are required to verify that you are who you say you are. That you are in full time employment and can afford to repay the loan. That it is your account we are putting the money into.
Do you use credit scoring or credit reference agencies?

No we do not use credit reference agencies to score your application
I have bad credit history - can I still apply?

Absolutely, we are not basing our decision to lend to you over the long term (12months or more) therefore we are only interested in your present circumstances.
I don't have a debit card - can I still apply?

It is not always necessary to have a debit card attached to your bank account, please ask us for more details.
How do I apply?

Complete our quick and easy online form. If you are approved you may be asked a few quick questions by one of our trained operatives and then sign your loan agreement. That's it, we take care of the rest.
When will I get my money?

We will transfer the funds straight away. If it's before 3pm then you will have your funds today. If not, then they will be in your account on the very next working day.
How will I get my money?

It will be paid directly into your bank account.
How do I pay back my payday loan?

We will take your payment via direct debit on your next payday.
Can I defer my Payment?

Yes - although after deferring the payday loan twice we will ask you to start reducing the balance. Deferral will incur new charges for every month the loan is deferred - but still at our fixed rate - there are no additional charges.
What if I have problems paying?

We understand that people's circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help. The most important things to note are: • Don’t borrow money you don’t think you can pay back • Talk to us and we will help as much as possible

1286% Representative APR (doesn't include commission back to you)

Terms and Conditions apply. Your rates may vary based on your personal circumstances and with the actual lender we select and accepts you. Representative APR (Annual Percentage Rate of charge): 1286%. Representative APR example: Borrow £300 for 30 days. The total charge for credit is £75. Interest is fixed at a rate of £25 per £100 loan (Annual Interest Rate is 305%). The Total Repayable is £375. Representative 1286% APR. The APR includes important factors such as the interest rate you must pay; how you repay the loan; the length of the loan agreement (or term); frequency and timing of instalment payments and amount of each payment. Payday advances should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counselling.
* Subject to approval times and lender's own policies. In most cases, funds will be deposited the same working day, if approved by 14:30. Approval may take up to 30 minutes in most cases. Loan amounts are based on consumer's credit history and ability to repay loan. Not everyone may qualify for £1,500.
Loan.co.uk is not a lending or banking institution and it does not broker loans to lending institutions. The personal information you provide will be provided to a third party lender to provide you with a loan application and the potential to receive a loan. Loan.co.uk makes no guarantees or warranties with regards to the availability of a loan or any other aspect of the terms and conditions of the lending institution. This web site places no value to this service. For details, questions, or concerns regarding your unsecured cash loan please contact the lending institution directly. Not all lenders can provide up to £1,500. Cash transfer time may vary between lenders. We assume no responsibility for the services or information you may receive from the lender. All loans are subject to credit approval. Certain limitations apply.

The APR% for Payday Loans may seem quite high at first glance. Taking into account that all setup fees and administrative costs are included and since most Payday Loans are paid over a period of no more than 70 days a yearly APR% might be misleading.In most cases taking a payday loan is much cheaper than paying overdraft penalties, bounced cheques or unpaid bill charges.

Disclaimer: As a condition of extending credit, some lenders you may be matched with may run a credit check from a major credit reference agency upon your consent. Loan.co.uk is a licensed credit broker by the Office of Fair Trading 105 Hamlet Court Road, Westcliff-on-Sea, Essex SS0 7ES