There are literally countless payday lenders in the UK and all of them offer varying standards of service to consumers looking for quick credit. It's important when evaluating payday lenders to check the terms and conditions and look for any additional expenses - all lenders should also possess a consumer credit license number (this should be displayed at the bottom of their homepage or in a prominent position on site) and they should also display their typical APR on various important pages on their website e.g. the application page. We will profile some of the main payday lenders in this article and give you the necessary resources to make an informed decision on which payday lender is right for you.
The main lender in the UK market currently is Wonga.com. Wonga specialise in providing a lightning fast service to consumer looking for quick access to credit in the UK. The best thing about Wonga is the level of transparency they provide new borrowers - they were one of the first payday lenders to introduce a payday slider, this slider is available on their homepage and let's a potential customer understand exactly what they will be due to repay and when. One further advantage to using Wonga is the fact that their charges are not fixed but rather are based on the duration of a particular loan - the short the duration the less you will have to pay. For more information on Wonga please read this Wonga Review.
The other main lender in the UK currently is Quick Quid. Quick Quid is the UK trading arm of the American-based company Cash Euro Net. Quick Quid are generally considered to be one of the most reputable lenders in the UK and have established a very significant presence online. Their charges are somewhat higher than other payday lenders however these are reduced significantly when a borrower manages to develop a level of trust with Quick Quid. New borrower's can borrow anything up to a value of £1,000, and loans last for one month in duration. Another advantage to using Quick Quid is the delivery of payment - along with Wonga, Payday Express and Payday UK, Quick Quid can provide one of the fastest payout rates of any lender in the UK.
Mark Jang is a renowned author of finance articles and in particular, on matters relating to Payday Lending. Read more about Wonga and Quick Quid at Quick Payday Loans.
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