The 12 month term grants sums between £300 and £2000. The pricing when you take out £1000 will be £1000 and so there is a simple 100% charge. We did spot a note that there may be a small fee imposed for same day funding. This wouldn’t be expected to be any higher than £6 or so. This is now the central lending arm of Valour Finance Group Ltd whilst they broker through Best4Loans. The owner has poured plenty of cash into this rebrand that is evident from the high standard that www.savvy.co.uk has been crafted to. Secure logins are provided here to those who take out a loan.

The Savvy loans can only be accessed between Monday and Friday. They make no reference to the times and so standard working hours would likely be when the payouts are arranged. There has been a number of product changes from the older Lightning identity. They for instance previously offered a monthly repayment between £80 and £800. The previous charge over the year was also £1199.96 and so they have lowered this. Whilst it is always good to see reductions being made, you would have expected them to cut this cost down further to be more competitive against lenders like Pounds to Pocket. They charge £875.61 per year (with Promo) and they trade 24/7.

There is a vague APR range headed of 19% to 99%. Our example is based on their breakdown provided. So for a £1000 loan over 12 months the cost here would be £223.61. Decisions are made quickly through sophisticated technology that has been hyped up by leading tech blogs. Once approved, they send same day funds through the Faster Payments Service with no extra charge. Account servicing is provided via www.springcoin.co.uk and they state that their support team is there to help you 7 days a week (they don’t mention any specific times). Once logged in you can make early settlements to save on interest.

The SpringCoin service is quite similar to Pounds to Pocket in the manner that you can be quickly approved and funded on any day of the week. I believe the AvantCredit team members were actually involved in the development of Pounds to Pocket through Enova that is also based in Chicago. The huge £20,000 sum is the standout product feature here. You won’t find any bad credit unsecured loan lenders that can match this. It is possible with secured logbook loans, although you’d need a vehicle worth £30,000. It will be interesting to see how they measure up with On Stride Financial over the coming years, since they also provide similar competitive rates.

The variable rates will either be 29%, 59%, or 89% APR. For £1000 over 12 months this would create charges of £146.36, £272.45 or £385.91. These are very competitive charges that tells me that they are looking to compete with Amigo Loans and other emerging guarantor firms. The advantage over Amigo is that no guarantor is of course required here. They are as noted much slower than their sister-brand. Whereby Pounds to Pocket trades 24/7 with funds being available almost instantly, this is not the same story here. They are open from Monday to Friday only. This was between 8am and 4.30pm, but they now close later at 7pm.

On Stride Financial also have to underwrite the application that they state can take a couple of days. After approval they do issue same day funding though. As an update, they do require a bank statement to be uploaded. Other than this, their eligibility requirements are relaxed. Once the loan goes through you are handed with a secure login facility at www.onstride.co.uk. I would expect those with past credit troubles to fall into the 89% APR tier (they may just push you on to P2P). Other than the low pricing, they promote that no late fees are charged. We will keep an eye on their progress.

Lightning Loans is a 12 month loan lender that you will find located at www.lightningloans.co.uk. This company appears to have either been setup in 2010 (or much more recently). They did previously trade as Valour Loans and they are owned by the Valour Finance Group who were formed in 2003. They have a few other brands behind them such as Best4Loans that is a brokerage service. Lightning Loans on the other hand is a direct lending arm of the company. They primarily offer a 12 month loan service from £600 to £2000. They do also reference a short term product in their FAQ between £80 and £800.

This payday loan offering displays a term of a single month in the FAQ, however the application form is specific to 12 months and so it is unclear how you can access this smaller product. Anyway, for a £1000 loan over the year the charge would be £1199.96. This includes their payout and processing fee. The headed APR here stands at 427%. The www.lightningloans.co.uk website is encrypted and they even provide an account login facility to every customer that is good to see. It is not made clear when their support team operates across, but it does appear that they close over the weekend.

It is stated that if you fail their credit check then there may still be a chance of acceptance if you can provide a guarantor. No faxing is required and they state that the cash can be received quickly. In their representative example they do note that a payout fee is included. Strangely in the FAQ though it states that applicants may incur a small charge for the same day funding service. With this in mind, the costs may be higher than what has been quoted above. They are more expensive than Pounds to Pocket Loans who head 399% APR (and this is lowered further with their Promo Code).

Everyday Loans was established in 2006 and this brand is owned by Secure Trust Bank Plc who also control Moneyway. They can be reached online through www.everyday-loans.co.uk and you can find them on the high street through their wide branch network. There is in the region of 30 stores that each play a key role in the running of this subprime business. This is through applications for their standard product having to be completed on a face-to-face basis. Once accepted they hand you a cheque and so it can take time to access your funds. They accept bad credit such as past defaults, but they always ask for documents.

Applications are securely taken over at www.everyday-loans.co.uk and they have finally now added account logins here. Bad credit unsecured personal loan amounts can be received between the levels of £500 and £10,000 with terms of 13 to 60 months. They head a rate of 79.7% APR, but they don’t provide a charge breakdown. Other than their standard product, they now offer a guarantor loan service called “Duo”. This grants £1000 to £5000 with the same 13 to 60 month terms. They actually provide a calculator for this aside from the note of 39.9% APR. This tool starts from 13 months and so for a £1000 sum over 24 months the price is £391.82.

This would split over the year at £195.91. The guarantor must be aged between 25 and 74 years old. This process can be completed without heading to a branch. To update: The loan can now be completed fully online and tenants can also stand in. The Everyday Loans opening times are not listed, but this would likely be standard business hours (Monday to Friday). All such headlined rates are variable that may be due to the arrangement fee paid to brokers should you be guided from a partner (this is added to the repayment). The introduction of the Duo product is certainly interesting that offers up the UK’s cheapest guarantor rate.

You can select between £100 to £500 on the application form. There is no FAQ provided for confirmation, but I can remember them at one time providing an example for a sum of £1200 and so existing customers should be able to access amounts at this level. The info presented at www.quid.co.uk is limited in some areas, but they do encrypt applications and provide logins. The repayment structure is highly flexible here. You could settle after the monthly period, you could choose your own amount to pay or even simply make the minimum payment. This would include the interest (29%) plus 10% of the amount borrowed.

If you went with this option with £300 for 3 months and then suddenly cleared the balance then the cost would be £234.90. CCTA membership is held and the same operational times are worked as at their sister-brand that means that Quid loans are processed every day. There are some good qualities here, although it doesn’t quite carry the same perks as Sunny does. They for instance charge late fees and don’t provide loyalty discounts. The pricing is also expensive should you make minimum payments only. The interest is being cut against the reducing balance, but you need to make bigger payments for this to make a difference.

MyMate was launched in 2013 at the vibrantly styled www.mymate.co.uk website. This brand is the creation of Matthew Sanders who has been very successful through the recruitment business (called de Poel). Soon after launch, additional short terms were available (7 to 31 days), but you can now only select between 2 and 12 months. The impressive sum range from £150 up to £2500 has remained in place. There are various term restrictions. For instance, the £1000 amount stops at the 6 month point (£1010 allows you to select 12 months). Cash limits could be imposed based on personal circumstances and there is a “Plan B” option in place.

In this scenario, if they can’t say yes then they may still offer funding if you can find the backing of a guarantor. The www.mymate.co.uk design is catchy and this site does house secure logins. You can always repay early and pay interest up to that point only if you wish. With pricing for instalment periods, £300 over 3 months would set you back £172.41 whilst 6 would be £285. These costs all factor a fast funding fee of £5.50. The amount of £1000 is as noted not available over the full year, but for display purposes this would be priced at £1012.81.

If you do require the support of a backing then you wouldn’t receive a discount from this. If you can find a guarantor then it would make more sense to head directly to a specialised lender where you would typically pay £230 per £1000 borrowed. The MyMate loans are processed between Monday and Friday (8am/8pm) and on both Saturday and Sunday (10am/6pm). They have only recently started operating on a Sunday. This is a welcome change, although their prices have been hiked up since we last checked them out. This has actually dropped them out of the top 5 rankings in each sector that they were attached to.

The online sums offered range from £1000 up to £10,000. The repayments are spread out between the period of 12 and 72 months. They provide an example of a £3000 loan over 36 months costing £2043.20. This includes a processing fee of £225 (7.5% charge). Based on this example, £1000 over 12 months should create interest at £202.02 alongside £75 for the processing fee. This total cost of £277.02 is highly competitive and this stands as one of the top 12 month rates that we have studied to date. It is stated that 51% of their customers qualify for their displayed rate.

SSL is used at www.1ststop.co.uk, but there is no login facility and so you would have to phone them to settle early. Applications are processed between Monday and Friday (standard business hours are expected). If you are declined for this product, then they may be able to take you on through 1st Stop’s Guarantor loan that is headed at 52.64% APR. A £3500 example over 36 months is listed as having a complete repayment of £6297.12 that includes an £85 acceptance fee. The person standing in must be a homeowner with a good credit history. Finally, you can borrow up to £5000 over 5 years.

P2P changed the game in offering same day funding on large sums that often require no faxed documentation. With the help of aggressive TV advertising, they soon became the market leader. Although they originally offered a 12 month term they now start from just 6 months onwards. You can apply for £200 to £2000, but do expect to see restrictions on your first loan taken out. A secure login is equipped within www.poundstopocket.co.uk that allows you to repay early and save. As at QuickQuid, they are open 24/7 and fast funding is free. For pricing, there has been a recent update with the charges being reduced.

Now for £300 over 6 months the cost is £208.08 and £1000 over the year would cost £907.40. You can trim the cost down further with the Pounds to Pocket Promo Code 2014. With this code applied you can receive a 20% discount on the first scheduled payment. This creates new charges of £191.14 and £875.61. The Pounds to Pocket loans are joined on to the CCTA trade association. It has been good to see that the pricing here has been trimmed down. Just to update that the owner has now released On Stride Financial that boasts highly competitive rates sitting between 29% and 89% APR.

A loan at £600 over 6 months would cost £281.10. Although £300 can’t be selected, we always use this price level to compare. This would work out at £140.55 per £300 that is a very competitive cost. At £1000 over the year the price here would be £957.20. Same day funding is provided by them and there is no fee to be added on for this. There is no Ladder Loans login in place over at www.ladderloans.co.uk, but they do use encryption. The lack of account servicing is a limitation and another one is being closed at the weekend. Perhaps they may change this soon though.

They specifically trade from Monday through to Friday (between 8am and 7pm). For phone support (or clearing early), you can reach them on the line of 0871 5592 909. The company owner is of course highly established in the payday loan sector, but it is interesting to see how well they can perform with this new instalment product. This is an area that their main rival (Cash America International Inc) has been the dominant player in through Pounds to Pocket. They have recently increased their pricing and Ladder Loans are in fact cheaper over the complete year. They are of course much cheaper over 6 months where they are most competitive.