Why is responsible lending important to us?

Whilst most borrowers are responsible and repay their loans promptly, others tend to find themselves borrowing money month after month. This is often just to take care of recurring expenses. We want to help prevent our borrowers falling into a cycle of bad debt and we do this by lending responsibly.

We encourage clients to use our online calculator and to try to develop healthy financial habits to minimise the number of times high-cost payday loans are needed. Saving money is often difficult, but it always pays to develop a habit of putting a percentage of every paycheque into a savings account. We also try to help our borrowers avoid high-cost payday loans by offering an alternative whereby their fast loan is repayable in flexible instalments, rather than all at once on their next payday. This means our loans can sometimes be more affordable to borrowers as they can spread the cost over as many as six months and try to budget accordingly.

There are several agencies available to help anyone experiencing financial difficulties. They help you to develop strategies that will keep debts under control. If you’re in need of financial advice, it pays to take advantage of the UK Financial Ombudsman, StepChange, or The Money Helper.

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  • Moneyboat.co.uk are in no way connected or affiliated with the application or affiliate links mentioned in this or any article. We do not receive any commission and are not responsible for any charges that may result from any free trials or paid subscriptions.
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If you feel that any of the information published on our blog is not accurate, please notify us via email at thecrew@moneyboat.co.uk.

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.