Direct payday loan lenders
Looking for direct payday loan lenders? Well, there are a lot more lenders than payday loan brokers. Direct payday loan lenders offer their cash products loan direct from their bank to yours and there are no broker fee.
There must be over 500 Direct payday loan lenders in the UK alone and counting. This total count increases on a monthly basis. Direct payday loan lenders tend to lend between £50 to over £1000. These direct lenders have a faster payment fee option to choose from which varies from £5 to £20 in order for the funds to be direct deposit into your bank account.
There are many advantages when choosing a direct payday loan lender, which is as follows:
- Lesser or none application fees,
- No broker fees,
- Less credit report checking searches footprints,
- faster obtaining a loan,
- Less personal and paper work input,
- Have a direct lender contact to query accounts, payments or your financial situation.
- Quick bank direct deposits once approved,
- No confusion of who which lender you had been approved by.
Once you have made a payday application, the direct lender will email, SMS or call you in regards to the current situation with regards to your loan. Once you have have been directly approved for a loan, you will need to sign a loan agreement. This loan agreement is a binding legal documented contract underwritten by the actual direct lender you chose.
When you loan agreement has been signed, depending on whether you opted for a faster payment service, your funds will be direct deposited on the same day. Direct deposits via faster payment fees usually clears in your bank account between 5 minutes to 2 hours.
Some direct payday loan lenders have different funding times and are usually 4 hours apart from each other. E.g. 10am, 2pm, 5pm. You would need to confirm your bank account details such as your sort code and account number in order to have the funds cleared with no return in error. Any bank returns can carry fees which is passed down to you to pay for. If your funds still hasn’t been cleared. you have check your bank details contact the direct lender and let them know the current situation. Most of the time, it would just mean your loan has passed the current funding time or your bank has block the direct deposit.
If your bank has held the direct deposit, you will need to contact your bank and get the reasons, status of the current deposit.
