What is a payday loan direct lender?
A payday loan direct lender is a company that allows you to borrow money, who you apply to directly, either on their website, over the phone or in a branch.
When you apply directly to a lender, they can only accept you for their own credit products. With a credit broker, they have access to the lending products of multiple lenders. That means a broker can search the market to find the best deal for you. If you are declined by a direct lender, they are unable to help you further, a broker, however, can look at alternative lenders who may still be able to approve your application. This can save customers a lot of time in their short term loan search.
As explained previously, a broker can provide a great deal of flexibility. For instance, some direct lenders in the UK will restrict the amount you can borrow or the amount of time it takes to pay it back. A broker can take all of your requirements into account when searching for the best loans for you. Upwards is completed free to use and work with lots of lenders to get you the best deal.
Once you are accepted for a loan through Upwards, we pass you through to deal with the direct lender to finalise your loan. Once accepted they will send the money to your bank within 15 minutes.* Available 24 hours a day, every day, you can rely on Upwards to be available when you need them.
The approximate interest for borrowing £100
Upwards is a registered trading name of Upward Finance Limited which is an Introducer Appointed Representative of Flux Funding Limited, who are a credit broker, not a lender. Rates between 9.3% APR and 1294% APR – your no obligation quote and APR will be based on your personal circumstances – we compare short-term loans from over 50 lenders to get you the best APR possible for you. Loan term lengths from 3 to 36 months.
Is Upwards a direct lender?
Upwards introduce customers to lenders and brokers who are authorised and regulated by The Financial Conduct Authority. We work alongside a huge panel of lenders to help applicants get the very best loans for their specific needs. We have compiled a panel of some of the most well-respected lenders operating in the UK. All are fully approved by the FCA and therefore required to follow FCA regulations. As a reputable loan introducer, we believe that everyone should have equal access to affordable loans when they are needed. This includes people who may have bad credit. As such, the lenders we have selected all offer loans for people with bad credit. By offering such a wide and varied selection, we are confident that we can help you find the perfect payday loan lender.
Upwards does not charge any fees. Ever! As a loan introducer, Upwards work with a wide variety of payday loan and short term loans direct lenders and brokers. These lenders and brokers will pay us a commission if you decide to take out a loan with them. There is no cost at all for using our services. It is in our interest to find each customer the best direct lender in the UK.
The most obvious question when looking for direct lender payday loans is which lender is the best? However, the answer to this is not that straightforward. This is because what makes a direct lender the best for you, may not make it the best lender for the next person. To help you truly get the best loan, we will take into account various criteria to help us better match you with the right lender and loan. Featuring an extensive panel of some of the most well-known and respected money lenders in the UK, we ensure you get the biggest choice; allowing you to make the very best decision. If you have bad credit we can find you a direct lender with bad credit who is the most likely to accept you for a quick loan.
Try our No Obligation Eligibility Checker
Get your money by 5:14am
Find out your chances of being approved for a loan, without leaving a footprint on your credit file. Totally free and no obligation to apply.Eligibility Check
Will I find a direct lender if I have bad credit?
If you have a less than perfect credit score, then this is exactly how we can help. All of our lenders specialise in providing competitive, easy-to-apply-for loans for people with bad credit. Authorised and regulated by the FCA, you can also rest assured knowing that your loan is fully protected. Offering full transparency in everything we do, and not charging any money for our services, we are confident that we can help you get the very best loan for you, even if you have a very bad credit rating
At Upwards we work with direct lenders who can offer loans between £100 and £5,000, so no matter what your requirements and budget, we probably have a loan for you, even if you have been declined elsewhere. You can choose to repay the loan over a period of 2 to 36 months, giving you a great deal of flexibility. If you want to apply for a bad credit loan we have a range of lenders who specialise in providing loans for bad credit. Our panel of direct UK lenders covers a whole range of circumstances and credit ratings. Our technology allows us to get you an instant decision on your application from a whole host of direct lenders, without having any impact on your credit score. It is only after you decide to proceed with your loan offer that they will perform a full credit check. Remember there is no such thing as no credit check payday loans.
Well, no lender or broker can guarantee anything, but no matter how much you need, even with a bad credit score, we will try and find the right loan for you. There is also absolutely no charge for our services. There is no effect on your credit history as our lenders will ‘soft search’ your application and no obligation to continue. We have also developed our “Eligibility Checker’ to allow you to see your chances of being accepted before you apply. Please be advises that if you proceed with the application if you are initially accepted by a lender, they will conduct a full credit search.
All of the lenders we deal with offer an instant decision on your application. If approved, the money could be in your account within 15 minutes*. Everything we do is done quickly, our technology allows us to search the market in seconds to get you the best deal without impacting your credit score. If you are looking for a same day loan we can help you.
All of the lenders that we work with do not charge any fees. It is our belief that customers should be able to obtain credit without being charged for doing so. The interest rates charged by direct lenders varies hugely. Our representative APR is 49.9%, which means at least 51% of customers get this rate or better. This is the average, so some people will receive a lower rate if they have a better credit score, while others may receive higher for lower credit scores. As all direct lenders are authorised and regulated by The Financial Conduct Authority and the FCA have introduced a rate cap in the short term loans market of 0.8% per day, meaning this is the most interest that you can legally be charged.
The short answer is yes. The FCA requires all direct money lenders in the UK to perform a credit check on every application. This means if you see lenders offering no credit check loans, they are not telling you the truth; or they are not following FCA guidelines. Therefore, if you apply for a loan in the UK from a licensed money lender, you will be subject to a credit check. However, understanding that credit scores often do not tell the entire story, nor are a true reflection of a person’s ability to repay a loan, many modern direct lenders will take into account a less than perfect credit score when considering your application. To help protect your credit score from being affected by a loan application being denied, Upwards enables you to perform a Soft Credit Match before applying, this has no impact on your credit rating.
If you have taken out a loan and you are struggling to keep up with the repayments, it is important that you contact the lender straight away. The lender has a duty of care to help as much as possible. The lender may be able to offer a repayment holiday, temporarily freeze interest and charges or even refinance your loan.
If you are struggling with multiple debts or have had a change in your circumstances, you should seek free, independent advice. There is a range of charitable organisations that have been set up to help customers who are struggling with debt. Speaking to someone is the first step in dealing with the situation.
If you are struggling with your debts and require assistance. You can speak to the companies below, free of charge.