UK’s Top 2 Payday Loan Lender Comparison – Mr Lender VS Light Finance

Fluctuations in business and finance are not a big deal, and it occurs usually suddenly. Whenever you are facing a sudden financial loss or seek for a loan to continue your business or expenses payday loan is the best option.

The payday loan is a short-term loan you will get to fulfill your short-time needs and then you have to pay back with interest depends on the borrowing amount and borrower’s income.

The payday loan is a great partner at the time of need. You can claim for short-term loans anytime from the bank or online. The minimum payday loan you can borrow starting from $30 and the maximum limit will depend upon the bank’s policies you are going with.

To claim for a short-term payday loan, you just search for a suitable new payday loan lender whose policies are suitable for you. You can choose to lend money from the lenders having a physical setup of a bank or also you can process completely online. After choosing a payday loan lender, post a request for a payday loan.

There are factors that measure your eligibility for a payday loan, the most important factor may affect your loan approval is your credit history. You must have a clear loan history to qualify for a payday loan from direct lenders.

When looking for the best payday loans in the UK then you have unlimited choices whether online or through a bank. Choose wisely one of the lenders that satisfy your needs on time.

Payday Loan Application Requirements

• Check your eligibility first, in the given chart.
• If eligible, post an application for a short-term loan

To apply for application, you need the following things;

• Full name
• Fathers Name
• National ID card number
• Email ID
• Contact details
• Active Bank account details

These details help your lender to contact with you after approval or rejection.

• Select loan amount

After these steps, you will get your loan amount into your active bank account. Always keep a deep check on interest charges with the loan amount and select those amount which is easy to repay.

Mr. Lender Payday Loan

Mr. Lender is one of the top payday loan providers in UK. They provide satisfactory loan amount to their clients since long and customers always prefer Mr. Lender when they are in need of financial assistance.

You can apply for short-term loan amount at Mr. Lender because of their quick customer support and 0% up-front fees or interest charges. Mr. Lender does not charge any additional amount or default charges. At Mr. Lender you can apply for £200-£1000 up to 6 months returning policy.

Mr. Lender offers high payday loans amounts for their regular customers but if you are a new borrower than you will only claim for £500. Mr. Lender ranking as a high rated payday loan companies and won a customer champion award in 2018.

Mr. Lender is all about clarity and simplicity. You can get here simple, flexible and trusted short-term loans.

For Example: Borrow £200 loan amount for 6 months. The pay-back method will be off 1month-6month, it’s up to you whether you want to pay-back within 1 month, 2 months three or 6 months.

You will have to pay 0.80% interest per day. The total repayable amount will be £426.00. Per annum interest rate is 292% is fixed. 1256.4%APR is the representative rate of Mr. Lender.

LightFinance Payday Loan

LightFinance is a well-known UK’s payday loan Lender. LightFinance provides instant payday loan services completely online. LightFinance limit your search of payday loan lenders by providing all in one finance services. If you are facing financial difficulty, and in need of instant payday loan approval then come to LightFinance.

You can claim for short-term loans from LightFinance in just a few steps and get loan amount landed into your active bank account. The leading feature of LightFinance payday loan lenders is that they do not bother your payday loan history and credit checks.

You can borrow £100 – £5,000. Interest rates or default charges are negligible as compared to other lenders in the market. The acceptance rate at LightFinance is higher and fast.

Fill up your application form and get a payday loan within 15 minutes. The application form contains personal information, work details, and bank account details. Consumer application is an online facility for payday loan borrowers.

If you will get £1200 for 18 months at £90.46 per month. Then a total repayable amount of £1,628.28 Interest: £428.28. The interest rate will be 49.9% pa. APR Variable Representative at LightFinance is 49.9%.

A short-term payday loan is the best choice for short time need but for those who are in long-term financial difficulty, a payday loan is not a suitable solution. When you are going with payday loan direct lenders, keep your credit clear each month.

Try to pay installment each month on time to avoid default charges or interest rates. Late payments for two months continually may cause financial complexities or also makes your credit worse to claim payday loan thereafter.

Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.