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Borrow £500 for 4 Months, Four Monthly Repayments of £215.81 Total repayment £863.24 Interest Rate PA (fixed) 270.10% Representative APR 997%
Cash Float Loans
If you find yourself in desperate need of cash, but your credit score is not perfect, it’s not a problem! Loans for all types of financial needs and credit scores are just around the corner when you need them. True enough that it is easier to get one when you have good credit history, and it might be a challenge for you if you have bad credit, but that’s the reason why payday loans exist.
You’ll find many Cash Loans today that are specifically designed for those with poor or bad credit, and those with no credit at all, and these are called payday loans. Majority of these borrowers with bad credit would take out this type of short-term loan, and lenders of these loans are just everywhere!
Important thing to note though that the interest rate of desperate loans are insanely high because most borrowers are considered high-risks. This also compensates the fact that these loans are quick, hassle-free, and easy to obtain. On the bright side, these ridiculously high-interest loans are better than having no option at all when you need money urgently.
You have to agree with me that when looking for payday loans online, it’s easy to get lost and be confused on which to apply. With so many lenders and loan offers to choose from, it would be hard to choose which one is the best loan provider for you.
Usually, people would turn to bad credit lenders who have been around for quite a long time, and most newcomers in the market are being doubted. However, being new doesn’t necessarily mean these lenders are below standard. If you are considering a payday loan from a reliable lender, you might want to check out one of UK’s newbies in the short-term loan market.
Float Loans Lender Profile
Float Loans is a fully FCA (Financial Conduct Authority) authorised lender since May 2016. Authorised lenders are regulated, meaning their rates and fees are capped. This ensures borrowers that they are not paying more than they should. The FCA has given Float Loans full permission to offer consumer credit, and trust that this lender will do this responsibly. This means that Cash float will always run credit checks, and will make sure the borrower will not have difficulty in repaying the loan. If you need a loan today.
As a payday loan lender, Float Loans offers loans with representative APR of 997%, which is one of the cheapest in the market. They don’t charge any arrangement fees or early repayment fees. In fact, if you repay your loan early, you’ll actually end up paying less interest in the long run. The only fee that this lender charges is a default fee. It will cost you £15 if you miss a payment. You’ll also still accrue the daily interest until you settle your payment, and this is for up to a maximum of 60 days.
Check out their website where you can find a dynamic loan calculator, which brings a handful of benefits. It features an online saving calculator that tells you how much you save when paying early. You will need this if you need a loan desperately.
As with any high-cost short-term loan, you are always reminded that if you have any doubt whether you can afford to pay back your loan on time and in full, then do not apply. By missing or being late with repayments, you will not only pull down your credit score but also could be subject to a number of fees. The fees and interest will eventually pile up, making things very expensive.
Cash Loans is one of the most reasonably priced payday lenders in the high-cost short-term market.
This payday lender offers loans between £200 and £1,100 to be repaid over a term of between one and four months. Representative APR of float loans starts at 997%. However, rates vary according to several factors including the borrower’s bad credit loan score, loan amount, loan term, and other personal details.
New desperate customers can borrow up to a maximum of £500. However, if you repay the loan on time, proving that you are trustworthy, then you’ll be eligible to apply for the full £1,100 on your subsequent loan application.
To apply for float loans, you can fill out the application on their website and choose when you wish to repay it such as whether your repayment date is a certain date or a certain day of the month. You will need to provide details of your income and expenses, as well as your employment details for float loans to assess your affordability and creditworthiness. Afterwards, you receive the loan decision.
If you don’t get an approval, float loans will ask you to provide permission for them to pass you through to another lender. This means that if your application with Cash float is declined, you should be able to find a lender better suited to your circumstances.
If you get a thumbs up, all charges and interest will be included in your loan agreement. This way, you do not need to worry about any hidden charges. Cashfloat believes in transparent. This is so you understand exactly how much your loan will cost, and that you can budget properly and manage your finances well.
Taking out Cash Loans
To take out a loan with Cashfloat, you must be a UK resident with an active UK bank account, must be in full-time employment, and at least 18 years old.
The loan amount depends on you. You can take out the amount you desire, but always borrow what you only need and what you can afford to pay back. It is important to borrow responsibly, by working out the amount you need to borrow.
Cash loans has a fully automated lending system, which gives them the full picture of an applicant’s financial situation before they decide whether to approve the loan application. However, the final decision is always left for actual humans to make, and not the system.
Although their Cash Loans are being viewed from a mathematical and logical point of view, Cashfloat’s business model is not based purely on statistics but on the unique situation of each applicant. The system enables them to process loan applications quickly, as their intention is to help as many people as possible tackle any temporary financial problems.
5 most recent personal loan reviews
I love CSC loans I have been with them nearly three years, need a top up as my son is getting married. They where brilliant as usual, no problems, done so quick - they were my life savers when needed most, thank you.
Review posted by Mary Hartnoll, Canterbury
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As guarantor for my daughters, loan the service we got was quick and efficient, did checks, asked questions and all was sorted very quickly, would definitely recommend Together loans to all.
Review posted by Susan Mills, Darlington
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Brilliant service. The application process was a doddle, the Shawbrook representative who called me was polite, understanding and cheerful. The whole thing (from starting the application process to receiving the money) took around 3 or 4 hours. Very quick and efficient and no long or silly forms to fill out. Just what was necessary. Am very pleased I chose Shawbrook.
Review posted by John Marcus, Surrey
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Representative 277.5% APR
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances
Non-payment could have a negative impact on your credit rating and have increased charges and interest rates.