Payday Loans No Credit Check
Are you looking for a payday loan with no credit check? All authorised lenders will always carry out a credit check as a part of loan application process. Lending Stream is an FCA Authorised lender and will always do a credit check. However, we do consider people with bad credit histories. Apply and find out if we can lend to you.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Representative 1333% APR
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Very easy to apply
Very easy to apply, couldn’t have been more simpler to be honest and the money was in my account in less than a minute 10/10
Leona, 18 November 2023
Poor credit rating no problem
Quick and easy to apply
Kim, 25 November 2023
Why choose Lending Stream?
Fast
Cash sent to your bank in less than 90 seconds, once approved.
Convenient
24/7 simple & online application. Instant decision. Direct lender since 2008.
Affordable
Repay over 6 months. Pay off early with no extra fees and save on interest.
Trusted
Rated excellent on Trustpilot & 99% recommend us on Reviews.co.uk.
What are no credit check payday loans?
No credit check payday loans are a type of short term loans where the lender does not perform a credit check on the borrower. This type of loan is often considered to be high-risk, as there is no guarantee that the borrower will be able to repay the loan.
No credit check payday loans are advertised as being helpful for those with bad credit or no credit history, but in reality, they can be very harmful.
Lending Stream does not offer no credit check payday loans. We are a short term loans direct lender, who believes that it is important to carry out a credit check as part of our application process in order to ensure that borrowers can make full repayments on their loans.
Can I get a loan with no credit check?
You might get a no credit check payday loan with a lender that is not authorised by the FCA. However, this type of loan is high-risk, and we would not recommend it.
But with Lending Stream, A BIG NO. Lending Stream does not offer loans with no credit check. We are a responsible lender, and we believe it is important to carry out a credit check as part of our loan application process. This helps us to assess whether or not the loan is right for you.
How do I check if I’m eligible for a loan with Lending Stream?
If you are looking to apply for a short term loan with Lending Stream, you need to check your eligibility first. To apply with us you must:
Have a valid debit card
An active bank account
Be a UK resident
Should be at least 18 years old
Should be in regular employment with a monthly income of at least £400
We need to see if you can afford the loan repayments on the top of your other financial expenses which is why you need to show us that you have a stable job with a regular income. In few cases, we might verify these details but in a discrete way.
How can I apply for a loan with lending stream?
Our online application takes a few minutes to complete. To apply for a loan with us, you need to fill in our online application form, and give us the following information:
- Choose the amount which you want to borrow with us
- Fill in your personal details
- Provide us with your employment, salary, expenses, and banking details
Once we receive your application, we will run a credit and affordability check. If approved, we will transfer the cash to your bank within 90 seconds.
How long do you have to pay back your loan?
With Lending Stream, you’ve got 6 months to repay your loan. You can even repay early if you want too as our loans are charged at a daily interest rate. So, by paying early you’ll save money on interest. Also, we don’t charge any extra fees if you repay early.
In fact, many of our customers repay their loan in 3 months or 4 months.
What if a lender is offering me payday loans with no credit check?
If you are offered a payday loan with no credit check, it is likely that the lender is not authorised by the FCA. This means that they are not regulated, and you will not have the same protections as you would with a regulated lender.
We would not recommend taking out a loan with a lender who is not authorised by the FCA, as it is likely that they are not a responsible lender.
What are the advantages of payday loans no credit check?
There are no advantages of payday loans no credit check. These types of loans are high-risk and can be very harmful to borrowers. If you are considering taking out a payday loan, we would recommend that you choose a lender who is authorised by the FCA.
What are the disadvantages of payday loans no credit check?
High risk
The main disadvantage of payday loans no credit check is that they are high-risk. This means that there is a greater chance that you will not be able to repay the loan, which could lead to debt problems.
Expensive
The interest rates on no credit check payday loans are often much higher than on other types of loans, which means that you could end up paying back more than you borrowed.
Hidden Fees
No credit check payday loans may come up with hidden fees and charges. This means that the true cost of the loan may not be visible, which could lead to problems down the line.
Unregulated Lenders
Payday loans no credit check are mostly offered by lenders who are not regulated and authorized by the FCA. This means that they are not subject to the same rules and regulations as regulated lenders.
FAQs – Payday loan no credit check
Is doing a credit check mandatory?
If a lender is regulated and authorised by the FCA, they are required to carry out a credit check as part of their loan application process.
Is a no credit check payday loan safe?
No credit check payday loans are high-risk and can be very harmful to borrowers. We would not recommend taking out a loan with a lender who is not authorised by the FCA.
We don't offer loans under 60 days. We offer 6 or 12 month loans. So, the minimum repayment period is 6 months and the maximum repayment period is 12 months. You can choose to repay early and save on interest without any penalty. Maximum APR 1721%.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Very good company
Very good company, it's easy to fill out the application, everything is written well and clearly and the money is quickly in your account. The company is worth recommending
Grzegorz Komajda, 24 November 2023
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