Where can I apply?

Typical customer examples

Meet Sandra

Sandra has 3 children, and in the summer months they had discomfort from the glaring sun through the car windows. Sandra decided to professionally tint her windows, and after being accepted the same day for £200, her problem was soon solved.

Meet Craig

Craig was unfortunately involved in a minor car accident which was his fault. With £250 excess on his car insurance, Craig didn’t have enough to cover this. Within the timescales of the insurance companies requirements, Craig was accepted and the case was settled.

The above are fictitious examples which are intended for representative purposes only.

Why choose The Money Spider?

At themoneyspider.co.uk, we work closely with reputable payday loan lenders with varying criteria, so you can be assured that you are getting the best same day loans deals available to you. Here are some of the reasons why people choose us:

• Make 1 application, we search for the best deal for you
• Greater chance of being accepted – let us spin our magic! *
• Fast decision **
• Cash in your bank account the same day! **

Our payday loan lenders search services are free of charge, so even by applying now, you are not committing yourself to accepting the sameday loans we find for you.

Don't get caught in a web of despair; why not try our UK payday loan calculator to see what you could borrow and for how long. Simply move the slider left or right and we will show you what your repayment will be – it really couldn’t be easier!

The UK Payday Loan Explained

A payday loan is a short-term loan, usually of low value, that is secured against your next pay packet. Same day loans are also know as fast loans or cash advances and offer a convenient, immediate solution to temporary cash-flow problems. Unlike many unsecured loans offered by mainstream lenders, sameday loans can be taken out even if you have a poor credit history. As long as you are employed, 18 or over, and have a UK bank account, you are more than likely to be able to tide yourself over until next payday.

How do Sameday Loans work?

The process couldn’t be simpler, and a decision is made in no time at all, unlike many mainstream lenders. Simply apply now, and you will be contacted quickly with a decision. All that’s required is proof of employment, and confirmation of your next pay date. In the likely event that you are accepted, funds are transferred immediately, and you are able to use the money often the same day for whatever you want.

How much can I borrow from Payday Loan Lenders?

Your initial loan is calculated on the information you provide. Once you have made your first fast loans repayment, the amount you can borrow again usually increases accordingly. The maximum amount available to UK residents is £1500, and for new customers, this is £1000 depending on circumstances.

Can I extend my loan?

Payday loans are intended for short-term solutions to unexpected financial difficulties, such as broken boilers, garage fees, medical bills, and so on. Due to the necessary interest fees involved, you should not be considering same day loans as a long term solution to debt problems. If you require a consolidation loan or similar, please visit our sister company www.beeloans.co.uk.

While we aim to work with lenders that do not have an automatic renewal policy in place, your lender may automatically renew your loan. In most cases, a fee is associated with a loan renewal, should it be automatic or requested. Every lender we work with has different rules surrounding renewals, so please check carefully before agreeing to the loan.

Late or non-payment penalties

It is vital that you meet your repayments on your loan should you be successful. Late or missed payments mean you may be subject to loan penalties or fees. Should you incur this, the overall cost of your loan would therefore rise. Before signing, please make sure you are confident in your ability to make repayment, and make plans to do so before or on the due date. Also consider bank processing times during to busy periods to make best plans for your loan repayment.

Repayment dates will be made clear by your lender at the time you take out your loan, so please make a note, as these dates will form commitment from you as part of your agreement. Lenders often have options available to you should you legitimately be unable to make your repayment, so don’t worry if this happens – simply get in touch with your lender and they will be happy to work with you to.

If you are unable to meet your repayment, or if your direct debit fails due to insufficient funds, your own bank could charge you a non-sufficient fund (NSF) fee. You will have this confirmed in any payday loan agreement you come to sign, but we would like to make you aware of the possibility now so there’s no surprises. Please check with your bank as to what this figure might be.

If you continue to fail to repay your loan, credit reference agencies will also make a note on their records of the outstanding debt. This may negatively affect your credit score. The records can remain for up to 6 years, and may be passed on to other credit and fraud agencies, to ensure you can be traced and chased for repayment. Likewise by paying your loan on time and in full, this may reflect positively on your credit file.

If you don't pay your loan back, the lender may take collection action on your debt. Each lender has different processes in order to collect the debt, so we strongly urge you to fully understand and agree to the terms and conditions from your chosen lender.

Our Practices

• We do not charge hidden or unnecessary fees
• We do not target customers who are in financial distress or difficulty
• We do not encourage customers to take out fast loans that are not suitable
• Our service is made clear to customers and is simply worded and explained on our website
• We follow all legal and regulatory best practices

Be Responsible

• Please look carefully at whether you can afford any loan before taking one out
• To avoid paying penalties and extra charges, repay your loan on time if at all possible
• Please be aware that if you do make late repayments or fail to repay your loan you will incur further charges that can be costly
• A UK payday loan is a short term loan. If you are looking for a loan over a longer period of time consider alternative types of finance that may be more suitable
• If you are struggling to repay your loans or think you may have debt problems you should consider looking at other alternatives that may better suit your circumstances
• If you are unsure about your finances or would like help and advice please visit www.beefinance.co.uk

• Cash within minutes **
• Payday Loan
• The Consumer Friendly Lender

Representative Example: Borrow £300 for 30 days, Amount payable - £375, Interest - £75, Interest rate (pa) - 1737% APR (variable).