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Comparing short term payday loans and alternatives

Comparing short term payday loans and alternatives

When does a bridging loan turn into a payday cash loan?

A bridge loan is a short term loan usually no longer than a year. The aim of a bridge loan or bridging loan is to give the borrower the much needed cash flow until they receive funding. People use bridge loans in numerous financial situations, but recently there has been a shift in borrowers and have started using referring to payday lending as short term bridging loans.

In effect, payday cash loans can be seen as a variant of a bridge loan – although they offer much shorter terms, (usually up to 30 days) they serve the same purpose as a bridging loan which is to give a helping hand to meet current financial obligations until the borrower’s next payday or funding.

Brief overview on a bridge loan
Brief overview on a bridge loan

Brief overview on a bridge loan

  • A bridging loan is a short-term loan that is taken out until permanent financing can be arranged, this type of loan is often also called swing loan.
  • Borrowers usually take a bridge loan when purchasing a commercial property, land or residential property, sometimes it can also be used for auction purchases.
  • Bridge loans are typically more expensive than conventional financing to compensate for the additional risk of the loan. Bridge loan interest rates are usually 12-15%, with typical terms of up to 3 years.

UK bridging loans vary from US bridging loans, here is a quick UK bridging guide to help you through each step.

Brief overview on a payday cash loans

To qualify for a payday cash loan the borrower needs to be:

  • a UK resident
  • over age 18
  • have a valid UK Debit card and a UK bank account
  • have a steady income
Brief overview on a payday cash loans
Brief overview on a payday cash loans

Reputable payday cash lenders can offer flexible, short-term loans starting from £200, and up to £1000. Repayment is within 30 days or less. Some payday cash loan providers may allow borrowers to determine the length of loan and will charge a reasonable interest rate based on the length of payday cash loan but you can checkout the details here- https://www.pales.co.uk/short-term-loans/. Typically, a short term loan should be settled on payday. They strongly recommend customers settle payday loans quickly.

If you need to get money fast, just click to apply for a payday cash loan now!

Cash converters vs Payday loans

If you’re thinking about visiting a cash converter because you need some quick quid, maybe you should think again. Cash converters require you to part ways with your precious goods, which can be anxiety-provoking and a bit embarrassing as well.

Sure they pitch it to you under the guise of “They’ll give you cash for all your old junk,” but if it’s just a bunch of old junk they want, how much cash will you really get? Also, can’t you go and sell your own stuff on EBay?

Cash converters vs Payday loans
Cash converters vs Payday loans

In contrast, payday loans are short term loans online and are 100% secure and discreet. With payday loans, there’s no lugging your bag of goods down to the high street because you can apply for a loan from the comfort of your own home.

Additionally, payday loans are fast, sometimes even super-fast within one hour, or up to a maximum of one day. The funds are deposited directly into your bank account so you don’t have a wad of wonga in your fist to “accidentally” spend down at the pub when it was supposed to go towards a holiday or gas bill.

If you need money today, leave your keepsakes on the shelf and apply for a payday loan to extinguish that cash emergency.

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Can I get cheap cash advance loans?

Can I get cheap cash advance loans?

Cheap loans…check the small print

New loan deals may come with unexpected high costs for those who do not read the small print.

Some lenders are now offering a cheap fix rate for a year, this may come as a great offer for customers, what they’re not realising is that they will be switched to a fixed rate at a high premium over base rate.

So beware of the so called ‘cheap loan deals’ as they aren’t as cheap as they might appear once you check the small print or don’t keep up with repayments.

Can I get cheap cash advance loans?
Can I get cheap cash advance loans?

Budget tools and personal finance

Fans of budgeting and financial management are getting spoiled for choice these days. No longer do end-users need to purchase expensive software bundles or themselves be accountants in order to enjoy the luxury of a budget management system. Today there is an array of tools from simple budget calculators to more in-depth tools that link to your bank account and continually monitor your expenses.

A few favourites include:

  • Budget Calculator

This is a basic budgeting tool with a friendly user-interface. You can save your work and come back to it or print it off to take a copy with you. With your wage slip in hand and a grasp on your monthly bills, you’re ready to get underway.

  • Personal finance software

Whatloancost is free online personal software for budgeting and expense management. Buxfer can link all your bank accounts and credit cards into your Whatloancost account so you can manage them all from one location. You can see where your money goes and also create budgets.

  • Personal finance for everyone

Personal finance is also a free online personal software tool that links to bank accounts and you can access Personal finance from any computer, not just your own home or work computer. Users can create discussion groups and can work together to meet their own personal financial goals. Lots of great tools here.

Managing your own finances and getting out of debt is very much an “in” thing these days, and when the masses talk, smart companies listen. Get on the bandwagon and start crunching some numbers!

Cash advance loans online
Cash advance loans online

Cash advance loans online

What’s so evil about cash advance loans online? It seems that the media and the payday loan haters have grouped all online loans into one immoral group to be sunk to the bottom of the sea.

Why do online loans get so little love? The best guess would be the high annual percentage rate that is legally required to be displayed on all offers of credit. These APRs are astronomical because it’s an annual rate being applied to a very short-term loan.

It’s easy to balk at huge APRs as they are truly staggering, but they aren’t representative of the actual cost of a short-term, online loan. The best way to understand the cost of a short-term loan is to find out the actual cost upfront and decide if the cost equals the emergency.

Short-term, online loans are meant to help users resolve short term cash emergencies. An unexpected large bill, emergency veterinary care, or MOT or other motoring expenses are all common uses for urgent cash loans. When used responsibly for an immediate cash emergency and not used to supplement one’s income, short term loans online can be a real life-saver.

Payday lenders connects UK consumers with online lenders offering short term cash loans. If you need cash fast, take the time today to apply online with Payday lenders to find a lender who can help you solve your cash emergency.

Credit Loans
Credit Loans

Credit Loans

If the credit crunch hasn’t affected you up to this point, perhaps you’re going to make it through unscathed. For some, it’s beginning to feel like “make it or break it” time. This economic downturn has gone on long enough now that some people, who have been living off their savings since losing their job or those who didn’t adapt their lifestyle soon enough to the changing economy, may now be starting to struggle.

If you fall into one of these categories or if you have your own unique, yet no-less-difficult recession experience, you may want to consider a loan to help make ends meet and ride out the crunch.

Loan comparison websites are very popular these days as most of the research has already been done for the consumer and consolidated onto one website. Consumers can also find useful financial tools on these sites as well such as loan calculators for mortgages or personal loans as well as budget tools.

When the need for some quick cash arises, Payday lenders can get you a loan fast. When you apply with Payday lenders, your application is submitted to their database and instantly they can come back to you with a short term loan lender to meet your needs.

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