Cheap Payday Loans.

£50 to £5,000 paid out by 5:39am

Fast 3 to 36 month online loans.

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100% No obligation loan quote

Accept and get your cash in 15 minutes

We don't charge any fees, ever!

We don't credit check*


Representative APR 49.9%.

Representative Example: £1,200 borrowed for 18 months. Total amount repayable £1628.28 in 18 monthly instalments of £90.46. Total Interest £428.28. Interest Rate 49.9% pa (variable). Rates between 9.3% APR and 1294% APR - your no obligation quote and APR will be based on your personal circumstances. Loan term lengths from 3 to 36 months.
†Loan amount subject to lender's requirements and approval. Subject to lenders requirement and approval. Once approved, your cash will be sent within 15 minutes. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures.
*New Horizons will not perform a credit check, lenders will complete a soft search when assessing your eligibility for a loan.
If you accept a lender’s loan offer, they will perform a hard credit search.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
New Horizons is a registered trading name of New Horizons Finance Limited, which is an Introducer Appointed Representative of Flux Funding Limited, who are a credit broker, not a lender.

What are cheap payday loans?

Cheap payday loans are simply loans that offer the cheapest payday loan rates in terms of the APR. The lower the APR, the less you pay back. Cheap small loans such as payday loans are a specific type of loan designed to provide people with small amounts of cash often very quickly. Usually featuring a short repayment period of around one month, hence their name, these loans are designed to provide you with cash until your payday. As such, these types of cheap short term loans are particularly useful in times of emergency.

Understanding that payday loans are often needed urgently, direct payday lenders usually work very quickly to ensure you get the money in your account as fast as possible. Because of their short repayment period and the very nature of these types of loans, cheap cash advance loans feature a higher APR than long-term loans. As such, it is recommended that these types of loans are only used as a short-term cash solution and are paid back within the designated time.

How we compare

Why use us?
How much can new customers borrow?
Up to £5,000
No fees, ever!
What are the repayment terms?
3 to 36 Months
No paperwork
Representative APR
49.9% (variable)
No obligation quote
Can I apply with bad credit?
Yes
Instant decision
Can I repay in instalments
Yes
Flexible repayment
Do we credit check?*
No
No credit footprint

Ready for a quick loan?

Access £50 to £5,000 today

Secure UK Site Secure UK Site

100% No obligation loan quote

Accept and get your cash in 15 minutes

We don't charge any fees, ever!

We don't credit check*

Payday loan questions:

Q1 – Can I get a cheap payday loan for people with bad credit?
Q2 – Can I apply for a payday loan online?
Q3 – Should I take out a payday loan?
Q4 – Are online payday loans safe?
Q5 – How can I borrow money with no credit?
Q6 – What are the best cheap payday loans for me?
Q7 – Do payday loans harm your credit file?
Q8 – What are the best alternatives to payday loans?
Q9 – How can I settle a payday loan?
Q10 – Why are payday loans so expensive?
Q11 – I am struggling with my debt and can’t get a loan to consolidate, what next?

Can I get a cheap payday loan for people with bad credit?

Because of uncertainty regarding credit scores and credit checks, many people continue to be confused and therefore wary of the entire process. Because of this, an increasing number of people have sought to bypass credit checks entirely; creating a demand and market for cheap loans that come with no credit check. As such, it is not unusual to see advertisements for cheap payday loans that have no credit check. However, there is no such thing as a loan without a credit check, with The Financial Conduct Authority requiring all authorised direct lenders in the UK to perform mandatory credit checks on all loan applications. This means that if you see a company claiming to offer loans without a credit check, they are not being entirely honest with you. This does not mean that you should not apply for a loan if you have bad credit.

Focusing on a person’s current situation rather than their credit history, many direct lenders are now offering cheap payday loans to people who perhaps traditionally would not have been accepted. What this means is that it is now much easier now to get cheap loans with bad credit. One further benefit of this is that you now have much more choice than ever before. Therefore, instead of being forced to accept the first lender that says yes, you can shop around to find the cheapest payday loans and those best suited for your own needs.

Can I apply for a payday loan online?

At New Horizons, we have teamed up with a variety of lenders and brokers who offer payday loans online. By completing one application we are able to search the market to find you some of the best payday loans in the UK. You will get an instant decision on your application and if accepted, you could get the money sent to your bank on the same day, even on as little as 15 minutes*

Should I take out a payday loan?

Like any type of credit, you should only consider taking out a payday loan if you really need to. Payday loans are a useful product in times of emergency and when other, cheaper products are not available. If you have a poor credit rating for instance and can not borrow from an authorised overdraft or use a credit card, an emergency payday loan can be helpful. Payday loans should only be used in emergency situations and not as an ongoing credit facility

Are online payday loans safe?

Lenders and brokers who offer payday loans have to be authorised and regulated by the Financial Conduct Authority. That means that they have to act fairly and professionally and customers have to meet certain criteria in order to be eligible. All lenders have to act responsibly with customer data and not market to customers without their permission. Also, lenders have to adhere to an interest rate cap.

How can I borrow money with no credit?

If you have no credit history or have a bad credit rating, payday loans can be a suitable option for some people. The lender will be required to perform a credit search on you and assess your ability to repay the loan, but the criteria are not as strict as with banks and other mainstream lenders. Taking out a payday loan or short term loan should only be considered when other types of credit are not available.

No Credit Check Loan

 

Find your best rate loan without needing an initial credit check.*

‘Soft Credit Match’ technology matches your profile to over 50 Financial Conduct Authority (FCA) approved loan companies without leaving any mark on your credit record.

With no obligation & no cost – it’s the best way to find a loan with no credit check.*

Get Your CreditMatch

What are the best cheap payday loans for me?

The best cheap fast loans for you are those that specifically cater to your requirements. Understanding that people and their needs are unique, New Horizons features lenders that offer a wide-range of cheap loans, including those for people bad credit. Because there is now so much choice in regards to such loans, it is now possible to get products that have been tailored to specifically meet your needs. To help you quickly identify the cheapest payday loans online and give you fast, sometimes instant access to the funds you need, we can help you find and compare which lenders are best-suited to you.

Do payday loans harm your credit file?

Previously, when taking out payday loans, the lender did not have to report to credit reference agencies. In the present world of FCA regulation, all lenders have to perform a credit check when assessing your application.

If a customer has taken out multiple payday loans in a short period of times, this may be viewed by some lenders that they are struggling and may see them as high risk.

If you take out a loan and make your repayments on time, this is reported to the credit reference agencies and can help increase your credit score.

What are the best alternatives to payday loans?

If you want to borrow money but spread the repayments over a longer period, you can apply for a short term loan or a bad credit short term loan. These loans allow you to reduce the amount you pay back each month. By increasing the time you take to repay a quick loan, you may pay more interest in total.

How can I settle a payday loan?

When you take out a payday loan, your lender will usually collect the repayment on your next payday or over multiple paydays. If you want to repay your payday loan early, you can contact your lender directly. Many lenders have online portals that you can make payments and check your balance.

Why are payday loans so expensive?

Payday loans are more expensive than some other forms of credit due to their short repayment period. It is important that you only enter into a payday loan agreement if you are certain that you can repay it in the timeframe you agree to otherwise the interest will increase. Payday lenders are not allowed to charge more than 0.8% interest per day and you will never pay back more than double what you borrow.

I am struggling with my debt and can’t get a loan to consolidate, what next?

If you are struggling with your debts and require assistance. You can speak to the companies below, free of charge.

moneyadviceservice.org.uk
stepchange.org
nationaldebtline.or

Ready for a quick loan?

Access £50 to £5,000 today

Secure UK Site Secure UK Site

100% No obligation loan quote

Accept and get your cash in 15 minutes

We don't charge any fees, ever!

We don't credit check*