- What is the procedure of paydayinn.co.uk?
We are brokers, not lenders and there are exclusively lenders working with us to get commission charges/fee. paydayinn.co.uk is not directly offering loan to consumers, but we offer easy access to our network of installment and short-term lenders directly through application online. Actually, we do match lenders and consumers through our network.
- How much fund/amount can be borrowed?
A borrower could easily borrow from £100 to £2500.
- What is the procedure to apply and get a loan in hand?
Through paydayinn.co.uk online application form will only take a few seconds after this process, we will forward application form all through our lenders range to select and match well-educated lender. After the time of few minutes when the consumer’s application approved consumer will be forwarded towards the completion page of the lender and after this entire procedure consumer can sign the contract electronically.
- What will be the procedure to get fund?
Funds/money will transfer to the consumer’s bank account through electronic transfer.
- How much faster one can receive funding, after the approval of a loan application by the lender?
Most often after the lender’s approval, the fund transfer to consumer account can be done as soon as the consumer accepted. Usually, this will mostly depend on the lender and financial institution of the consumer also. Except it, if the consumer has any query and question about the time of fund transfer, then the consumer should connect to the lender.
- What are the conditions of eligibility to apply for the loan?
Mostly the criteria of eligibility depend on the lender, but the standard requirements or criteria will be asked to meet with application approval. Some of these requirements are the consumer should be aged 18 years and older, the consumer should live in the UK, also consumer should hold the valid bank account in the consumer can directly receive debits and the most important consumer should hold the job or any direct cause of earnings.
- What is the reason to ask for personal information?
- If credit score details will require?
We do not offer credit checks, yet we do match services with the lender and match you with a credit so accordingly this process is the part of the application procedure.
- How much representative APR rate do you charge?
Our descriptive APR is 728.9%, this is the APR of £400, 30-day loan. It is important to mention that your APR may be different to this figure due to the fact that two applicants are not at same. There is not any loan terms and conditions which are typical or symbolic with this your credit profile may impact on the conditions of loan that is offered by the lender.
- What will be the possibilities if borrower having issues to repay the loan?
You can contact your lender in case you are having any issue to repay the loan. So that the lender discusses all possible options for repayment, in the case of any serious problem with regard to managing money so you can connect Money Advice Service. For all those who need to manage money efficiently, the money advice service offers free of cost guidance for them.