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FREQUENTLY ASKED QUESTIONS

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What is LenderSeekers.co.uk?
LenderSeekers is where you can find the best payday loans for bad credit. One of the best payday loan comparison sites where you can compare payday loans, short term loans, instalment loans, unsecured loans, secured loans, car loans, business loans and guarantor loans.
           

How do I apply?


We offer three distinct ways to choose how you wish to apply.
  1. You can use our own Application Form and leave the Search for your Short-Term loan to us where we match you to a suitable Lender using our Lender Matchmaking Service * for Payday Loans (this is a free service).
  2. You can browse through our List of Lenders on our Home Page and read their details to help you decide which is best for you.
  3. You can use our Compare Loans service and use our Filters to help you choose based upon your preferences.
*Please note that Application with us is completely free. We may, however, accept commission from Lenders that funds any loan taken out following an application made with us.
 

What are the criteria for applying?


Lenders will only consider your Application if you meet the following basic criteria:
  • You are at least 18 years old
  • You live in the UK
  • You work in the UK
  • You have a UK bank account
You do not need to be a homeowner for payday loans, as payday loans are unsecured. However owning your own home may assist you in gaining approval.

When will I receive the cash?


Times vary from Lender to Lender but should your application be approved, it is typically from 15 minutes to 1 hour however, if further information is required, the process can take considerably longer.

How much can I borrow?

It depends upon which type of loan you are looking for.


For Short Term Loans Lenders typically offer between £100 and £3000 but for larger, secured loans you could borrow as much as £25000. Please review your preferred Lenders website for further information.

Why is the APR so high?


Annual Percentage Rate or APR is a common method for comparing finance that is lent over a period of 12 months or more but a Payday loan is set at a period of 1 month and therefore can be misleading for comparison purposes. Our advice, would be to look carefully at the interest repayment and any fees attached and use those as your benchmark to find the most affordable loan for you needs.

Are there any charges or fees?


This varies from Lender to Lender with some having no fees at all. Please ensure you check carefully what, if any, fees are applied for Administration, Bank Processing etc before you sign any loan offers.

Can I apply over the phone?


Most Lenders allow you to make your application over the phone but please note, that being an online business, some may prefer to speak to you only once an application has been submitted online.

How do I pay back the loan?


Lenders may have differing repayment models so you must ensure you ask what their practice is before you agree; usually, payment is made automatically via a debit agreement agreed by you during the application.

What can I use the loan for?

Anything you want however we do advise that you do not use any short term loan for the management of other debt. 

Do Lender’s contact my employer?

          
It would be highly unusual for a Lender to contact your Employer but some may try to contact you at your place of work to verify that your Application details.

Do Lender’s accept people with a poor credit history or CCJ’s?


All applications which meet the basic criteria will be considered by the Lenders featured on this Comparison Site; Home of the Best Payday Loans for Bad Credit. 


Is LenderSeekers regulated?

LenderSeekers.co.uk is Authorised and Regulated by the Financial Conduct Authority using Consumer Credit License No. 672828