How do instalment loan repayments work?

Instalment loan repayments work in a structured and pre-arranged way. Upon applying you will agree the amount of credit you wish to borrow, how many repayments you wish to split the loan over and when your monthly repayment date will be. This means that the loan is structured around your repayments from its outset, allowing you to plan your finances well in advance of clearing the loan.

Our loans are not like many other payday loans as we can offer borrowers the chance to access money quickly, but without having to repay the entire credit amount in one go. Lending more flexibly like this, means our loans could help you to avoid more expensive and risky payday lenders, which may help to protect your credit score.

Furthermore, we can also offer some flexibility over how you repay your loan. We can set up a Continuous Payment Authority (CPA) on a nominated UK bank account, to ensure you never miss a loan repayment. Our secure online platform and friendly customer service team help facilitate both the credit application process as well as your loan repayments. It’s important to remember that lenders tend to charge late payment penalties if you don’t make your payments on the required days and this may also affect your credit score.

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Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. 

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Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.