2014 Lender Lists:
PaydayUK @ www.paydayuk.co.uk
~ The monthly cost is now £24 per £100 borrowed. This change from £29.95 is a result of the FCA cap.
~ They ask you to enter your next pay date between 15 and 52 days. You will be paying 0.8% daily regardless of which term is selected. You are not able to freely select a repayment of choice.
PaydayUK is one of the original payday lenders that entered the market back in 2003 through the address of www.paydayuk.co.uk. This company that is headed in Bicester is a trading name of MEM Consumer Finance Ltd that is part of the larger DFC Global Corp group ran by Jeffrey Weiss. Other than the featured lending brand, DFC also runs the Payday Express lender and also The Money Shop high street loan chain. In their home country (and also in Canada) they are mostly known for their ownership of the Money Mart brand. Here at PDUK you can receive monthly loans only between the amounts of £100 and £1000.
Although not specifically stated, this large sum of £1000 may see new applicant restrictions of around £300. There is no extra charge applied for same day funding with there just being the interest charge to be paid. If we take the example of £100 being borrowed, then the price over the month would stand at £29.95. This rate isn’t particularly competitive on its own, but this was improved when a £5 cashback deal on every hundred borrowed was granted once an original loan had been repaid to them. Once this discount had been factored the customer was paying just £24.95 per £100 that is impressive since not many lenders charge below the 25% mark.
Unfortunately, from checking the site just now this cashback period has come to and end. It is unknown whether a new one will arrive soon (we will keep checking). You can securely login to www.paydayuk.co.uk at any time and this lender is a CFA member. Their operational times are Monday to Friday from 8am to 8.30pm whilst Saturday is 10am to 4pm. Their customer support is closed on a Sunday, but they do make one transfer each Sunday at 5pm. One thing of note is that for qualification the applicant must be paid monthly. For those paid weekly, you could instead use their sister-brand Payday Express.