Frequently Asked Questions:
How much can I borrow?
You can borrow from between £80 to £750. You are able to borrow in any multiple available on the application form.
How much does it cost to borrow?
Our rate on average works out at £25 interest per £100 borrowed. For example if you borrowed £200 the total amount repayable would be £250. For more information click the link on our charges.
Am I eligible?
Our criteria for loans are as follows:
- Aged 18 or Over
- In Permenant Employment
- Earn £750 or more per Month
- Have a UK Bank Account
Do you charge any broker/admin fees?
No, the only charge you pay is the interest on the loan for the amount you borrow. If you are not accepted there is no charge to pay.
How soon do I get my money?
In most cases you will be able to get your money the same day.
I dont have a good credit rating, Can I still apply?
Yes. You do not need to have a perfect credit rating to apply for a payday loan. Payday loans are what is known as a sub-prime product and are designed for people with lower than average credit ratings.
Will I need to send proof of ID/proof of address?
In most cases no. However in some cases the lender may require some additional proofs to confirm your identity in order to process your application. If required you will be able to send this via fax or email and will be given instructions upon successful application.
When do I have to repay the loan?
By default the whole loan is automatically repayable on your next payday, unless you get paid within 10 days. If this is the case the repayment will automatically be rolled over to your next payday.
Can I spread the repayments over several months?
As stated above the loans are automatically setup for a one time repayment on your next payday. However it is usually possible to defer some of the payment for another month or two. Simply contact the lender with the details provided once you have received your loan and they will be able to set this up.
Is there an additional charge for doing this?
The only additional charge for deferring some of the payment is the standard interest charge for the amount that you defer.
If you have any questions not answered in this FAQ section email enquiries@yourmoneyloans.co.uk or Contact Us
