Guaranteed Payday Loans | Do They Really Exist in UK?

Are you looking for a guaranteed payday loan? There are plenty of lenders in the UK who’ll offer you a payday loan. But they must carry out a credit and affordability check before they approve your application. This means that there’s never a 100% guarantee that you’ll get a payday loan.

If you want to know more about guaranteed payday loans, then you’re in the right place. We’ll tell you all you need to know about getting approved for a payday loan. We’ll also tell you what your options are when you’re in urgent need of money.

What are Guaranteed Payday Loans?

Guaranteed payday loans are short term loans. They give you quick access to cash when you need money in an emergency. But approval isn’t guaranteed. A credit check would always be done on every application.

Here are the main features of a guaranteed payday loan:

• They’re easy to apply for online.
• There are no restrictions on what you spend the money on.
• You pay back the whole loan on your next payday.
• Interest rates are high, and some lenders may charge fees.

Payday loans should be avoided if possible. They usually come with high interest rates and fees, if you can’t repay them on time, they can put you in a cycle of debt if you can’t repay them on time. They’re only to be used as a last resort when you need money in an emergency.

How to Boost My Chances for a Guaranteed Payday Loan?

There’s never a 100% guarantee you’ll get any type of loan. But there are a few things you can do to boost your chances.

1. Check that you have a good credit history. That said, there are some lenders who may approve you for a payday loan even with a bad credit history. But you do have to show that you can afford the repayments.
2. Have proof of a regular income. This can be from a job, benefits, or any other type of regular payment. You won’t be able to get a payday loan without any income.
3. Check the lender’s requirements before you apply. By finding out if you meet their criteria, you’ll improve your chances of approval.

Can I Get a Guaranteed Payday Loan with Lending Stream?

No, you can’t get a guaranteed approval payday loan from Lending Stream. We are an up to 12 month alternative to “payday loans”. That way it’s not such a big drain on your pay packet at the end of the month.

We don’t offer guaranteed payday loans, as we believe that responsible lending is important. It’s why we always carry out a credit and affordability check on every loan application.

If you’re looking for a short term loan, we may be able to help. We offer loans from £50 to £1,500 and our application process is quick and easy. You can do it all online. Lending Stream loans are fast (we’ll send the money to your bank in under 90 seconds if approved) with spread out monthly repayments.

Are There any Guaranteed Payday Loans Direct Lenders?

There are many payday loan direct lenders, but none of them can guarantee you’ll be approved. The Financial Conduct Authority (FCA) regulates lenders who are registered with them. It means that lenders can’t approve your loan application without assessing it in line with the FCA guidelines.

Beware of lenders who say they offer guaranteed payday loans. They might not be regulated by the FCA, and lenders cannot guarantee 100% that your loan will be approved. A responsible lender will always have to check your credit report.

The only way your payday loan will be approved is if it meets the requirements of the lender. These could include:

• A good credit history
• Regular income
• Being employed
• A UK resident
• Being over 18

Is There Anywhere I Can Get a Guaranteed Payday Loan?

The reality is that guaranteed payday loans don’t exist in the UK. There are some lenders who’ll give you a payday loan if you have a bad credit rating. But the chances of getting approved are still not 100%.

Beware of any lenders who offer a guaranteed payday loan. Go through the following checklist before you apply.

Why Do I Keep Getting Turned Down for Payday Loans?

There are a few reasons why you may not be able to get a payday loan. Here are the most common ones.

1. You don’t have a regular income or can’t afford the repayments. Payday loan lenders usually ask that borrowers have a steady source of income to qualify for a loan. If you’re unemployed or self-employed, you may not meet their criteria.
2. You have bad credit. Lenders will look at your credit history to assess the risk of lending to you. If your credit score is low, the lender may view you as high risk and deny your loan application.
3. You have unpaid debt. Payday lenders prefer to approve loans to borrowers who can show they’re able to repay their loans. If you’ve got unpaid debts, the lender may be unwilling to give you another loan.

What Credit Score Do I Need to Get a Guaranteed Approval Payday Loan?

There’s no definite answer to this question. Payday lenders have their own criteria for deciding whether to approve a loan application. But in general, the higher your credit score the higher your chances are of getting approved for a loan.

If you want to guarantee being approved for a payday loan, focus on improving your credit score. Here are a few tips to get you started:

• Check your credit report for errors and dispute any that you find. The main agencies to check with are Experian, Equifax and TransUnion. You don’t want your credit score to be affected by mistakes that shouldn’t be on your credit file
• Make all your payments on time, including utility bills, credit cards, and other debts. This will show lenders that you’re reliable and capable of repaying a loan.
• Keep your credit card balances low. Maxing out your cards will hurt your credit score. Try to keep your balances at 30% or less of your total credit limit.

By following these tips, you can improve your chances of acceptance of a payday loan. Remember that there’s no guarantee you’ll be approved but increasing your credit score is a good place to start.

Can I Get a Bad Credit Payday Loan with Guaranteed Approval?

Whether you’ve got bad credit or good credit, payday loans don’t come with guaranteed approval. All lenders will perform a credit check before approving any loan. And payday loans are no different.

There are a small number of lenders who’ll be willing to provide you with a bad credit payday loan. They’ll look at more than just your credit score to assess whether to approve your application. But you need to be aware of the terms they offer you as they tend to charge high rates of interest. Shop around and compare different lenders before applying.

I Need a Payday Loan Today. Can I Get a Guaranteed Approval?

When you’re in urgent need of emergency cash you want the money the same day. And of course, it would be much easier if you could get guaranteed approval on a loan. But with there being no such thing as a 100% guaranteed approval, what can you do?

Here are some things that can help you get approved for a payday loan and get the money the same day.

• Find out what the lenders’ criteria are. Lenders will do what they can to help you, but you have to be eligible to apply for a payday loan with them. If you don’t meet their criteria, don’t apply.
• Go through online brokers who will search a few lenders for you. Alternatives to guaranteed payday loans

There are many payday loan alternatives out there that can provide you with the cash you need. Here are a few options to consider:

1. Short Term Loans: These loans are good for when you don’t need to borrow much. They have shorter repayment terms and can be repaid in as little as two weeks to a few months. This makes them a good option if you need cash fast but don’t want to pay it all back in one go.
   Lending Stream offers short term loans that you can pay back over 6-12 months. We have a quick and easy application process and if approved, we send the money to your bank in under 90 seconds.
2. Credit Cards: If you have good credit, you may be able to qualify for a low-interest credit card. This is a good option if you only need a small amount of money and can pay it back quickly.
3. Bad Credit Loans: There are some lenders who specialise in bad credit loans. While you may not be able to get a guaranteed approval, you may still qualify for a loan. Some lenders offer better terms than others for people with poor credit scores, so shop around.
4. Personal Loans: Depending on how much you want to borrow, you could get a personal loan from a bank. Personal loans tend to have lower interest rates than credit cards. And with lower rates, they could be a more affordable option.
5. Payday Loan Alternatives: There are loans available where you can get the cash you need without the high interest rates and fees. Credit unions are one option, they’re community based, and you have to join them first. You have to live in a certain area or work in certain profession to join one.

FAQs – Guaranteed Payday Loans

Disclaimer: Any information provided does not constitute financial advice. Please read carefully about the terms and conditions of the credit provider you choose to take out a loan from. Any links to external websites are for reference only and are correct at time of publishing.