Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Finance » Loans » Article

What UK Payday Loans Are?

By Peter Taylor

Nobody knows when and how monetary emergency knocks our doors. If you have money, then it is ok. But if it comes in the middle or end of the month, when your monetary resource is not enough to cope up with the situation, then you are in a fix. In the UK usually borrowers meet such situations with payday loans. In this article, the basic feature of UK payday loans is discussed.

To avail payday loans, a borrower in the UK has to meet some criteria. These are as follows:

•Borrowers must be a dweller in the UK

•Having a fulltime employment is necessary

•Borrowers must have a regular as well as recurring income

•Borrowers' income should not be less than £1200

•Borrowers should not be less than 18 year old.

•And existence of an active checking account is necessary

However, in the UK, payday loans are available for a short period of time. As it is mentioned before that these loans assist borrowers financially, especially when they are in emergency. These loans are usually offered for one to two weeks. This term can be extended up to one month. But for that, borrowers may have to pay some additional fees.

As payday loans, a borrower in the UK can avail the amount, ranging from £100-£1000. But, keep in your mind, while deciding the loan amount, borrowers' income as well as repayment capacity is taken into account. If you are a first time borrower, then as UK payday loans you can avail up to £500. But after paying off the amount on time, next time you can borrow more than £500.

It does not take much time to get a payday loan approved. If a borrower in the UK opts for online option, he can get payday loans less than 24 hours.

With payday loans, a borrower in the UK can fulfill various purposes. These loans can be used for meeting medical emergency, paying off debts, paying off credit card bills or some other bills and many more.
About the Author
Peter Taylor is a senior financial analyst at LoansUK with an acumen for finance and insurance. In recent years he has taken up to provide independant financial advice through his informative articles. To find UK payday loans, secured Loans, unsecured loans, personal loans, personal loans UK , secured loans UK that best suits your need visit

Article Source:
If you wish to add the above article to your website or newsletters then please include the "Article Source:" as shown above and make it hyperlinked.

  Some other articles by Peter Taylor
Finance on Low Rates Is Possible Through Personal Loans
Personal loans are the most initial and popular loan in the financial market. These loans provide financial assistance to the person in ...

Bridging loan UK: Making a financial bridge for you
Nowadays, property transaction has become so common in the UK. Many people in the UK are buying a new property by selling ...

Home Equity Loan Is a Blessing In Disguise
Home equity loan allows you to borrow money using your home's equity as collateral. Collateral as you know is the ...

Bridge in the Financial Gap with Bridging Loans
Located dream property for building your home and short of cash? The bridging loans are the best solution in such a situation. Bridging loans help in bridging the financial gap between the purchase of a new ...

Best Loans With Best Rate: Cheap Secured Loans Uk.
What a borrower needs in the form of loan? Surely a good amount of money, wider repayment duration, flexible loan terms and of course a low rate of interest. Well, all these features have ...

Consolidation Tenant Loans – Clear Debts In Smooth Manner
Often a tenant is not in a position of making timely payments towards loans because of limited income source and as a consequence incurs big debts. For getting rid of debts ...

  Recent Articles
One Hour Cash Advance
by Peter Hughberry

Solve Your Debts With Credit Card Debt Management Plan
by Elaine Owen

Approves loan amount faster - Online personal loans
by Ashley Lewis

Cheap Car Loans Uk:Grab The Opportunity To Buy A New Car!!
by Aldrich Chappel

Get Bad Credit Unsecured Loan with No Hassle in UK
by Anton Gabriel

For The Van Of Your Choice: Used Van Finance
by Bonnie Castle

Finance on Low Rates Is Possible Through Personal Loans
by Peter Taylor

Secured Loans- Money at reasonable rates
by Joanne Clive

The dos and don'ts of adverse credit car loans
by Joanne Clive

Redeem your business ideas with business loans
by Angelo Drew

Unsecured personal loans: Easier and convenient
by Elizabeth Swann

Low Rate Secured Loan: Avail The Benefits Of Low Rates
by Aldrich Chappel

Can't connect to database