How It Works
Covering those unexpected financial emergencies
Select Loan Amount
Receive Your Decision
Receive Your Money
Choosing How Much To Borrow
With Quick Loans, you can apply for an amount that suits your circumstances. Our minimum amount is £100, and the Maximum is £10,000. For many reasons, it is better that you only apply for the minimum amount that you need. One of those reasons is that you are not paying interest on the money you didn't need to borrow. Another reason is that your chances of being approved will be increased if you apply for a smaller loan amount.
Completing The Online Application
We all dislike form filling, we've tried to keep the number of questions down to a bare minimum. We aim to see your application approved, but we do need to ask certain questions so that lenders can confirm the repayments for the loan amount you are applying for is affordable. Affordability checks are completed using estimates, so you don't need to start digging out the paperwork to be specific. The good news is that the most difficult question you will be asked is for the details of the bank you would like the money paid.
Full Instant Online Decision
We know that borrowers want certainty so they can plan their finances. All decision are decisions in full, not in principle. In less than 90 seconds, you will receive either an "approved" or "sorry your application was declined" message. We promise that you will get a clear yes or no. Decisions are displayed live online whilst you hold for a short amount of time.
Getting Paid Quickly
We wouldn't be called Quick if payment took four days to get to you. We know what borrowers want. We've been in this business for over 11 years and understand that fast payments are expected. When you have had your application accepted, you will instantly receive a text message, this will contain a security code that you will need to text back to prove you are who you say you are. Once you have responded to that text message, the money will be sent. With most major UK banks now being on the faster payment system, money is received instantly after sending.
How The Repayments Work
Loans of Less Than £500
Loans Between £500 and £1500
Loans Over £1500
You Decide The Repayments That Suit You
How Affordability Checks Work
Chance are that you will have come across the term "Affordability Checks" before, but how do they work, and how do lenders use them to make decisions?
In our opinion, they don't work, and they never have. Affordability checks are a box-ticking exercise for virtue signalling politicians and regulators that want to look good, but they don't do anything in reality.
This is how the checks are supposed to work. An applicant will complete the application form and tell the lender how much money they have coming in every month. They will then complete another section of the form that informs the lender how much they have going out each month. The lender will start with the money coming in (say £1000), deduct how much is going out (say £600). This leaves £400, if the loan repayment amount is less than £400 a month, the applicant can afford the repayments, and the applicant has passed the affordability check.
In the real world, outside of the family Trust Fund bubble, they don't work because lenders don't know whether or not the applicant has just invented the numbers out of thin air. To check whether or not the customer has fabricated the numbers would cost the lender around £100 per applicant to investigate and verify. That's not going to happen.
So to keep the FCA from visiting them, everyone in the industry just pretends that they do work. The University Educated people at the Financial Conduct Authority give themselves a great big pat on the back whilst ignoring the fact that they wasted 4 years of their lives and racked up £40,000 of educational debt for nothing. All whilst you guessed it - never performing an affordability check.