Warning: Late repayments can cause you serious money problems. For help, go to moneyhelper.org.uk. We are a broker not a lender.
Warning: Late repayments can cause you serious money problems. For help, go to moneyhelper.org.uk. We are a broker not a lender.
Jul 6, 2018
Sure Money has a vast network of lenders. Every application is forwarded to relevant lenders and they would send you a quote. Every lender will send one quote as per the information you provide in the application. If you are applying for a thousand quid and there are lenders that do not offer so much, such lenders will not send you a quote in all likelihood. A few might offer you a smaller loan amount and you may not consider such quotes. You need relevant quotes and that is what Sure Money facilitates. However, the exact terms for payday loans will not depend on Sure Money. They would be entirely the discretion and as per policies of the lenders.
Usually, the repayment term you can expect would be one month to six months. Very few lenders will allow a repayment period in excess of six months. Some will be stringent about a repayment term of one month. Most lenders will be flexible. One month is too short a time, even for payday loans. Short term loans can have a repayment period of anywhere from a few months up to three years. However, payday loans rarely have a repayment period of longer than a year. Six months is usually the cap in the industry.
The other terms in the agreement would be similar but you should familiarize yourself with the specifics. The late payment charges or fines, any penalty that may be levied, the actual rate of interest and how it is calculated, the kind of documents you may need to furnish to get the loan approved and other important terms will vary from lender to lender. You should ask for all the details before you decide to proceed with a lender. Don’t just choose one based on the quote stating the loan amount, rate of interest and repayment term.