Payday Loans

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Warning: Late repayment of payday loans can cause you serious money problems. For help, go to
We are a credit broker and not a lender.
Short Term Loans UK will never call you and will never charge you any fees. Never pay upfront fees for a loan or send money in return for a loan. 
Rates from 12.9% APR to 1721% APR. The minimum Loan Term is 3 months. The maximum Loan Term is 36 months. 
Representative Example: £1,000 borrowed for 18 months. Repayment of 17 Months at £87.22 and final repayment of £87.70 The total amount repayable is £1570.44. Interest amounts to £570.44, an annual interest rate of 59.97% (fixed). Representative APR: 79.5% (variable).
*Subject to application being approved by the lender. Not all lenders are able to provide up to £5000.
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Short Term Payday loans

Needing a short term payday loan? Well, when you need money to settle a debt, or to make an important purchase, to have a faulty boiler fixed, or when you need to treat your loved ones to a surprise breakaway, and you do not have the funds, things can go awry. Fortunately, there is always a solution. For millions of people in the UK and worldwide, the answer is the short-term payday loan. The payday loan is that type of loan that is extended on the understanding that it will be settled in a short period of time. These are also known as short term loans.


What is the short-term payday loan, and why would you want to take it out? As the name suggests, the payday loan is taken out over a short term, i.e, the loan amount and the interest incurred, should be repaid over a short period of time, and not over many years such as you would pay for your car or the house you have bought.

The short-term payday loan you can take out in the UK and in many other countries, gets its name form the idea that whatever monies you may have borrowed, should be paid back on your next payday. However, the provisions of the short-term payday loan in the UK have changed over time so that this type of loan can now be repaid over longer periods than simply the next payday.

A short-term payday loan where the amount is small, and such amount, together with interest, is indeed paid back on the customer’s next payday, qualifies in traditional terms as a payday loan.

For this history of payday loans you can read this article


Under the provisions of the short-term payday loan in the UK, borrowers should understand that they will be charged a high-interest rate, much higher than on other loans which are repaid over longer periods. The reasoning behind this is because the payday loan is normally unsecured and often extended to borrowers with a less favourable credit record. The interest rate charged on payday loans will depend on the lender and what risk they are willing to take in terms of extending unsecured short-term payday loans.

Brokers, and the lenders they introduce to borrowers, understand that they may be at risk of borrowers defaulting on their payments. This can lead to the lender suffering loss. Therefore, they are strict, also with regard to interest rates.


Because payday loans are offered at very high-interest rates and often by lenders that may charge exorbitant fees and rates, borrowers have the peace of mind that the short-term payday loan industry in the UK is well controlled and overseen under the provisions of the Financial Conduct Authority (FCA).

  • Every reputable lender that grants payday loans in the UK has to meet the regulatory requirements as laid down by the FCA to ensure they follow all rules and guidelines to remain compliant.
  • This requirement has been in place since 2014. This body ensures that brokers and lenders act within those limits that are seen to be reasonable and acceptable in terms of which payday loans are granted. They oversee the activities of lenders, and borrowers are advised to establish whether the lenders they deal with fall under the regulations of the FCA before they enter into loan agreements with them when they apply for payday loans.


In many cases, these days, the short-term payday loan in the UK and elsewhere can be repaid over longer periods than what the name suggests, i.e., when you receive your next paycheck. Installments are now scheduled over longer periods of, say, 3 months, 6 months, 9 months, and even up to a year or 36 months, in some cases. This will depend on a few issues, for example, the amount borrowed. Smaller amounts such as £100 are normally paid back over shorter periods than amounts of £3 000 or £5 000, for example.


The period over which the short-term payday loan is repaid will depend on the amount borrowed, the profile of the borrower, and the lender’s expectations and stipulations. Installments are paid back to include all interest that applies. The lender has to inform the borrowers upfront about how much each installment is.


The short-term payday loan is a loan typically extended to borrowers that need money for immediate crises such a car having broken down or to pay an outstanding account, or because one needs funds for only a short while. People have different needs; therefore different customers will have different requests with regard to the amount they want to borrow with regard to a short-term payday loan. The payday loan is normally an amount as little as £100, going up to amounts of around £5 000. This will depend on what the lender is willing to risk when they grant unsecured loans. They will study the profile of the applicant and then make a decision. Any lender will want to know that the customer can repay them the amount of the payday loan, plus interest, that is agreed upon in the contract, and always on time.


Lenders look at various issues when they receive a request for payday loans that customers need in the short term. Some customers qualify easily, whereas other customers are looked at more carefully. Therefore different issues are considered, such as:

  • How much does the customer want to borrow? And what would be a reasonable repayment period?
  • Is the prospective borrower in a position to meet the requirements of such a short-term payday loan, for example to repay all monies borrowed?
  • Does the borrower have a negative credit record, and is this reason enough not to grant a payday loan?
  • Does this customer have a bad credit rating?
  • Has this customer ever defaulted in terms of loans they may have taken out in the past?

The above and more are some of the criteria that a lender keeps in mind when they consider a short-term payday loan in the UK.


There are different ways to apply for the payday loan. Traditionally customers used to go to a lender that they might have known, or they may have consulted newspaper advertisements. These days applications are done online when brokers and lenders are contacted for a short-term UK payday loan. With access to the internet and a computer, the process has become easy. Even a smartphone is often good enough to apply and receive an answer quickly.


Most customers find that logging onto a broker’s website works for them. The broker has access to the services of a pool of lenders in his/her/their data base. They present the customer’s case to the most likely ones to grant a short-term payday loan to the customer. The lenders come forward with their offers, and the broker informs the customer of the best offer that is available. The customer will then decide whether or not to accept the offer and go ahead with the short-term loan. It is as easy as that.


Customers that apply for a short-term payday loan should heed the following:

  • First try and get the funds elsewhere, since short-term payday loans should be the last resort, as APR rates are high and require the customer to perform on due date. Yes, this type of loan costs much more than other loans from the bank or someone you know.
  • Customers that default on short-term payday loans, will find themselves in serious trouble of damaging their credit score. This could impact you getting finance in the future, and they may open themselves up to serious problems, also with the courts.
Short Term payday loans

Payday Loan News

Financial Times – Amigo plans to restart lending under a new brand – Amigo was one of the largest guarantor lenders until they were forced to pause lending following a deluge of complaints.

Designer Women – Payday Loans Service: Market Growth Set to Surge Significantly during 2022 – 2028 | JD Credit, Credit 36​​5, Amaze Credit, Capable Loans

Keep up to date with all the payday loan news here at