No Refusal Payday Loans
Looking for no refusal payday loans? A responsible lender will never guarantee a loan. Lending Stream provides affordable short term loans that can be sent to your bank in just 90 seconds*, if approved. We are a responsible direct lender in the UK.
Representative Example: Given a Representative APR of 1271%, if you borrow £300 over 6 months at 292% p.a. (fixed), you would owe 6 equal repayments of £96.39. You will repay £578.36 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Why prefer Lending Stream?
Trusted
Rated excellent on Trustpilot & 99% recommendation rating on Reviews.co.uk.
Convenient
Secure online application available 24/7. A decision in seconds, not days.
No early repayment fees
Repay in 6 monthly instalments. We don’t charge for early repayment.
Fast
Cash sent to your bank in under 90 seconds, if approved. It may take longer to reach your account depending on your bank’s processes.
What are no refusal payday loans?
No refusal payday loans are a myth. Despite what some payday lenders may claim, no authorised lender will guarantee approval for a payday loan. The term suggests that direct lenders will approve your payday loan application without any questions asked. And they’ll do this no matter what your financial condition is.
However, this is not the case. If a lender does portray themselves as a no refusal payday loans direct lender, then you should check that they are authorised and regulated by the Financial Conduct Authority. (FCA). They may be misleading you and could potentially be lending money without the proper authorisation.
Payday loans are a type of short term loan that are designed to help people in need of emergency cash. There is never a guarantee of approval. Keep in mind that payday loans usually come with high interest rates and should be used only for emergencies.
Why don’t no refusal loan lenders exist?
There may be lenders who claim to offer no refusal loans, but the truth is, they can’t. No authorised lender can offer guaranteed payday loans. This is because all lenders must follow responsible lending practices. These practices are set down by the FCA (Financial Conduct Authority).
These practices include affordability checks, which are a legal requirement in the UK. These checks ensure borrowers can afford to repay the loan without financial hardship. Lenders have a duty to make sure they’re not lending to someone already in financial difficulty. This means they check the borrower’s income and credit history before making any lending decisions.
Along with this, all FCA authorised lenders must follow strict guidelines around fairness. If you’re looking to borrow money in the UK, check your lender is authorised by the FCA.
At Lending Stream, we understand that financial emergencies can happen at any time. We’re committed to helping our customers get the money they need responsibly. We are a short term loans direct lender and offer loans from £50 – £800 for new customers and £100 – £1500 for existing customers. If you’re approved, the cash will be sent to your bank account within 90 seconds*.
Representative 1271%APR
Do payday lenders accept everyone without refusal?
No, payday lenders do not accept everyone without refusal. This is because all direct lenders who are authorised by the FCA have to follow the guidelines set by the FCA.
This includes doing affordability checks, checking borrower’s income, credit score, etc., to ensure that they can afford the loan repayments without any trouble. Only then will direct payday lenders accept an application and make an offer.
So, if a lender offers guaranteed payday loans, they should be avoided. They’re probably not lending legitimately.
How can I find direct lenders with the best acceptance rate?
If you’re looking for a loan on an urgent basis, then you definitely want to find a lender who will accept your application with the highest probability of approval.
If you’re looking for companies with the highest rates of approval, these tips might help.
- Compare lenders: Don’t apply with the first lender you find. You should compare lenders on interest rates, repayment terms, and customer reviews to find the best one for you.
- Look for specific types of loan lenders: Some direct lenders specialise in specific types of loans, such as small loans, loans for bad credit, etc. These lenders may have a higher acceptance rate for the type of loan that you’re after.
- Check your credit report: Before applying for a loan, always check your credit report is accurate and up to date. If you see any errors in your file, then report them to the credit reference agency. This could improve your credit score and increase your chances of being approved.
- Look for an eligibility checker: Some direct lenders offer an option to check your eligibility for a loan first. This lets you know if you’re likely to get a loan approval accepted without affecting your credit score. This can help you to find a lender that will accept you.
It’s important to thoroughly check places offering high acceptance payday loans. Even if they have a high acceptance rate, this may mean higher interest rates and fees.
At Lending Stream, we offer short term loans which you can repay within 6 months in monthly instalments. And if you repay early, you’ll save money on the overall cost of the loan. So, if you’re looking for a responsible lender then Lending Stream may be the right choice for you.
Representative 1271%APR
How do I check if I am eligible for a loan with Lending Stream?
To be eligible for a loan with Lending Stream, you must:
- Have a valid debit card.
- Have an active UK bank account.
- Be a UK resident.
- Be at least 18 years old.
- Be in regular employment with a monthly income of at least £400.
During our application process, we might ask you to show proof of your income. As a responsible lender, we do this to ensure that you can comfortably afford the loan repayments.
Representative 1271%APR
How to apply for a loan with Lending Stream?
At Lending Stream, you can apply online for short term loans. All you need to do is fill out our online application form and give us the following information:
- Some personal details.
- The amount you want to borrow.
- Your employment, salary, expenses, and banking details.
Once we receive your application, we’ll do a credit and affordability check. If approved, the cash will be sent to your bank within 90 seconds.
Representative 1271%APR
I’ve been refused for payday loans before. What should I do now?
If you have been refused for a payday loan due to a poor credit history, don’t worry, there are still options available.
One option is to borrow money from payday loans direct lenders that specialise in providing loans to people with bad credit. These payday lenders may be willing to consider factors beyond just your credit score, such as your income and employment history.
But keep in mind that payday loans typically come at high interest rates. This is why you should only borrow what you can afford and make timely payments to avoid any damage to your credit score.
Alternatively, you could consider other types of loans, such as guarantor loans or secured loans. Whatever option you choose, make sure you carefully read the loan agreement and the terms and conditions of the loan before agreeing to it.
FAQs – no refusal payday loans
Are no refusal payday loans a scam?
Yes, no refusal payday loans are generally a scam. Legitimate UK lenders are required to carry out affordability checks. You should be wary of any lender offering no credit check loans. Also, beware of lenders or brokers who require upfront fees. Always do your research and compare offers to save money in the long run. You can confirm if the Lender is authorised by checking the FCA’s register here.
What are the risks of applying for a no refusal payday loan?
The risks of applying for a no refusal payday loan include paying high interest rates and fees, and potentially damaging your credit rating. Always read the loan agreement, terms and conditions carefully and only apply for amount you know you can afford.
Is it possible to get a payday loan without a credit check?
Most FCA-registered companies conduct credit checks as part of their standard procedures, although it is not a mandatory requirement. The decision to perform a credit check typically depends on the nature of the services being provided and the individual company’s policies.
What should I do if I believe my no refusal payday loan lender isn’t regulated?
If you believe you have a loan from an unauthorised no refusal payday loan lender, you should report them to the Financial Conduct Authority. You can also get help and support from national illegal money lending teams.