Immediate short term loans are popular in the UK
Immediate short term loans in the UK are becoming a way of life for some people. With the high cost of living and financial woes throughout Europe, many people are finding it difficult to make ends meet. Immediate short term loans are controversial because of their high APR rate but it must be remembered that these are short-term loans and therefore the calculation is done on a monthly basis. Immediate short term loans are not meant to be long term loans.
The Quick Loan Shop tries to have the money in your bank account between 1 – 48 hours after having been accepted. There are not many financial suppliers who can deliver cash this quickly. When you have an emergency where immediate cash is needed there is no better way than applying for cash through a reputable and transparent lender of short term loans.
You can apply for an immediate short term loan as long as you:
- are at least 18 years old
- live in the UK
- have a UK bank account
- work in the UK
You do not need to be a homeowner to apply for a short-term loan, as payday loans are unsecured. However owning your own home will greatly assist you in getting the approval for a loan.
Most short term lenders will give unsecured loans of between 50 pounds and 500 pounds. Lenders are generally reluctant to give larger loans because the loans are unsecured and the lender is therefore vulnerable.
Pay your immediate short term loan back on time to avoid high interest rates
Short term loans are generally manageable if they are paid back on time. Problems can arise if the loans are rolled over, meaning they are not paid on due date but carried over to the following month. When an immediate short term loan is rolled over it becomes expensive due to the high APR rate. Never take out a short term loan from a payday lender if you intend it to be a long term loan. There are other financial providers who cater for long term loans.
When applying for a short term loan, look for a reputable payday lender. Your lender should be transparent, in other words you should know exactly what the interest rate is and you should be able to have all your questions answered before taking out a loan. Don’t panic and apply to the first payday lender you trip across simply because you are desperate to get a loan. Take a little time to find a reputable lender as this could save you money and keep you out of trouble.
Payday lenders have their place when used for the right reasons which is for an emergency loan which will be paid back on your next payday.