Representative 49% APR
Representative Example: Borrowing: £1200 for 18 months, Total Repayable: £1628.28, Total Interest: £428.28, Interest Rate (Variable): 49.9%. Rates between 9.3% APR and maximum 1721% APR. 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. Loan repayment terms are 3-36 month loans.

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Are payday loans offered by all direct lenders?

The UK has seen a recent surge in demand for short-term loans. Once considered expensive and something of a last-resort, small-value, quick loans are now considered an important part of the money-lending industry. As such, there are now many direct lenders payday loans on the market. Offering a wide range of different loans, as well as others who specialise in specific types of loans, such as no guarantor loans. Because of this, people looking to borrow money now have greater choice than ever before and can often be approved for a loan from a direct lender.

Same day loans paid today

One of the most popular types of short-term loans are payday loans. As a result, payday loans are available from virtually every online direct lender currently operating in the UK. What this means is that there are now many payday loans with competitive rates on offer from lenders; giving you a greater choice than ever before and allowing you to choose which loan is best for you. Of course, just as with any loan, you must always show caution.

It is essential to learn as much as you can about direct payday lenders; including whether they charge any hidden fees or not. To help you with this, we ensure that all the lenders we partner with are transparent in everything they do and that there will be no nasty surprises.

Direct Payday Lenders, why are they the best?

Direct payday lenders have appeared to help those who suddenly find themselves needing extra funds. These loans are often due in instalments; usually by way of direct debit. Using a payday loan, the direct lender has many benefits. As well as removing any ‘middle-men’ fees, many new payday loans lenders are often able to give you a decision on a loan instantly. As such, they are often able to approve a loan and pay the money into your bank account much faster than other types of lenders can. They are making direct lender payday loans a great choice for people who suddenly find a desperate need of funds.

Not only will the entire process be much quicker with a payday loan direct lender, but it will also be more comfortable as there will be less form-filling. It is of course, imperative that you trust the lender from whom you borrow. That is why every direct lender offering payday loans are required by law to be completely transparent in regards to every detail of the loan you are taking out.

Payday loan lenders can give you an instant decision on your application. If you are accepted, they can send the money to your bank on the same day.

New Horizons

How are payday loan online lenders different to other lenders?

Most short-term loans are similar in how much you can borrow and are also relatively similar in terms of the APR they offer. Perhaps the biggest difference between these types of loans is the type of repayment plan they offer. Payday loans are a specific type of loan designed to provide small amounts of cash over a short period.

Usually ranging from £50 to £2,000, these loans in general feature a concise repayment plan, often around three months; hence why they are called payday loans. Because payday loans are a form of short-term loan, they do feature higher APRs than other longer-term loans. As such, payday loans are only for use if you are sure you can repay the money in the time stated by the direct lenders.

Payday loans are usually required suddenly, and without warning, modern lenders will work hard to get the funds you need to you as soon as possible, many provide same day loans. To help speed up the process, even more, New Horizons will identify the right direct payday lenders for you and your situation. In regards to the lenders themselves, we only work with those that are fully certified.

We are ensuring that you will be treated fairly at all times and that you get full transparency regarding every aspect of the loan. Because there are so many payday loans lenders operating in the UK, you can now choose between large, well-known direct lenders or smaller, more specialised ones.

Are there payday loan lenders for people with bad credit?

The short answer is yes. Many new payday loan lenders now provide loans that are specifically tailored for people with bad credit. Lenders understand that bad credit is no longer a true indication of a person’s ability to repay loans such as payday loans, meaning an increasing number of direct lenders now offer loans only for people with poor credit scores. While this means that more people are getting access to short-term loans, it is still not guaranteed that you will be accepted for payday loans. Because all direct lenders are authorised and regulated by The Financial Conduct Authority and are required to perform a credit check on you before a loan is approved.

Created to help people with bad credit get payday loans when they need them, New Horizons does everything it can to match you with direct lenders that are right for you. Including only recommending direct lenders that are authorised; thereby ensuring that all lenders follow ethical lending practices. As such, even if you have bad credit, you can still be reasonably confident that your application will be approved.

Do direct payday lenders require a credit check?

The short answer is yes. While some payday loans lenders may claim to offer ‘no credit check loans’, the reality is that The Financial Conduct Authority requires every direct money lender, including those that claim to offer guaranteed loans, to perform mandatory credit checks on anyone applying for a loan. What this means is that no matter what some companies claim, your application will always involve some form of credit check. While this does not mean that you will be turned down for a loan if you have a poor credit score, it does mean that finding the right lender for you can often be difficult and time-consuming.

New Horizons understands and allows you to quickly and easily find and compare payday loans direct lenders only; enabling you to see which lenders are most likely to accept your credit profile before you apply.

Can I be guaranteed to get a payday loan?

The short answer is no because there is no such thing as a guaranteed loan. All applications must first be subject to a credit check. You should avoid payday loans that claim to feature no credit check. Possibly, the direct lender offering them is not an authorised lender. As such, direct lenders cannot guarantee your application will be successful.

To help people overcome this problem, many direct payday lenders now use different criteria when assessing your application. Therefore, there are now a variety of payday loans for people with bad credit, with many direct lenders now offering very competitive rates.

To help people get as close to a guaranteed loan as possible, we will identify which payday loan lenders are best suited for you. We will also identify which lenders are likely to say yes before you apply. While this, of course, does not guarantee that your loan application will be successful, it does mean that you will have a much better idea as to which lenders will say yes.

Do payday loan lenders charge more?

Unfortunately, yes. Because payday loans are generally required to be repaid quickly; often in one month, payday lenders in the UK often charge high APRs. However, high APRs can often be misleading. While such APRs are often very high compared to other types of loans, the figure is not a true reflection of what you will have to repay, because the APR of these loans is calculated for an entire year, yet most payday loans are repaid within one month. To help clarify this, most lenders nowadays offer a quick online calculator that will show you exactly what you are borrowing and what you must repay.

Payday loans can be a quick and effective way of borrowing a small amount of money over a short period and are often much less expensive than most people think. However, as with all loans, you must ensure that you can repay the money in the time agreed as failure to do so can lead to charges that will increase the amount you owe. As with all loans, we recommend that you quickly tell the lender if you think you will be unable to make a prepayment. Understanding that this can happen for a variety of reasons, most lenders will work with you to find a solution.

Who is the best payday loan direct lender?

Here at New Horizons we strongly believe that the best payday lender is the one most suited to your specific needs. In the past, people looking for a payday loan were more likely to say yes to the first lender that approved their loan. Because of the difficulty in securing such a loan, most payday loans were expensive and featured unfavourable repayment terms. Thankfully this is now changing.

With so many payday loan lenders now operating in the UK, these lenders are offering much more attractive deals. Using your information, a list of lenders that are deemed best suited to your specific needs are shown your application, meaning that you can now easily compare payday loans and choose the one you think offers what you need. Choices include payday loans that are repaid immediately or over a more extended period. Also, those that require a guarantor and those that do not. As such, you will be in a much better position to ensure you get the very best payday loan for you.

Do all payday loans have to be repaid after one month?

Traditionally, payday loans were required to be repaid after just one month. While some payday loans are still needed to be repaid in this time, there are now options available. Understanding that repaying a loan in just one month is not a viable option for some people, many payday loan lenders now offer payday loans that can be repaid over 1 – 36 months.

They are allowing you to make smaller repayments; enabling you to spread the cost of the loan over a period that is better suited to your budget and requirements. Of course, not all lenders offer this option, so you need to shop around to see which ones do. To help you do this, we can quickly compile a list that allows you to identify and compare such loans easily.

How do I find a payday loan direct lender?

There are many ways to find a payday loan direct lender. Direct lending is simply a form of money lending in which lenders, including banks, provide loans and do so without the use of an intermediate such as a broker or private equity firm. One problem with such lenders is that it can often be difficult to compare what new payday lenders offer.

New Horizons allows you to quickly compare payday loan direct lenders; giving you straightforward access to some of the best payday lenders in the UK. To help you get the right loan for you, we also allow you to search for your loan without the worry of your credit record being negatively affected.

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

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