Payday loans in the United Kingdom are the personal credits of up to £100, £300, £500 to £1000. There are many private direct lenders in the UK are giving payday loan for Bad credit people by UK government benefits. The debt is to be repaid until the “payday”. This private loan type is free of FCA regulations; therefore, the annual percentage rate (APR) for salary loan can be 1,000% or more. The average salary loan size is £265 – £270. Sometimes, direct lender demands a cheque for full balance amount in advance; the lender can deposit this cheque on the due date. The numbers of factors affect your credibility including the credit score card; more red marks escalate the proposed interest rate. Some lenders offer no fee payday loan but adjust the cost in other charges /penalties, but a majority of direct lenders charge some fee that differs in different areas.
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