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Sure Money UK - What Are The Costs Involved With A Payday Loan

Created: 2018-08-14 09:00:00

When it comes to securing a payday loan with Sure Money UK, you can rest assured that there are no upfront fees or hidden charges at any point during your application. While it is true that there are various payday loan and short-term loan brokers who will charge an upfront fee for their services, Sure Money UK receives a commission from the lenders that you are referred to. It obviously makes no sense to charge an upfront fee to somebody who is already in a difficult situation and searching for finance. In fact, it would be madness to ask potential customers to pay before they even receive a loan.

Sure Money UK work with several different lenders across the country, who all have their own fees and charges for late payments or missing payments. You will never directly owe any payments to Sure Money UK, and if you do happen to miss a payment, any fees associated with this will be down to the lender who has given you credit. All of this will be made clear in the terms and conditions when you agree to take out a short-term loan with a lender. This is why it is so important to actually read through the terms and conditions so that you understand exactly where you stand.

If you find yourself missing a payment date or missing the payment altogether, then you may find it much more difficult to obtain credit in the future. By missing a payment altogether, you are actively extending the term of the loan and thus the amount of interest that you pay will increase. You may also find that late payments or missed payments will negatively impact your credit score, which can result in you being turned down for future credit applications or being offered higher interest rates for the same products.

Sure Money UK has more than 30 lenders and Brokers on their panel, all of whom are committed to responsible lending. By being a responsible lender, the provider will ensure that each and every customer is able to repay the short-term loan on time, that all documents and contract are clear and transparent, and that excellent customer service is provided. There are many payday loan providers on the market who are not clear-cut with their policies and give responsible lenders a bad name.

All in all, a payday loan can be an affordable and easy option for every type of credit situation. In fact, as a short-term loan is typically repaid quickly, the total repayable amount is easily manageable and not a shocking as you may think. When you are in need of finance quickly, a payday loan could prove to be a better option than going to your bank or using your credit card. Not only are they quick and easy to apply for and with manageable costs, but the money that you borrow along with the interest due will be made clear from the very beginning. This means that you only pay for what you borrow and nothing else.