Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk Representative APR: 1081% (variable). Representative APR Example: 1081% APR variable. £300 borrowed over 30 days would equal total borrowing of £372. Representative 1081% APR
How do we help you get a loan?
As a UK loan broker we endeavour to find you a lender that offers you the chance of being approved and offers you a great product that fits your needs and requirements.
Our process is completely online – so you will have absolutely no need to talk to us or send us any paperwork whatsoever. If we find you a payday loan lender then they may ask to speak to you or for additional documentation – but some lenders will not. Either way, if you are accepted by a lender it is realistic to say that you could have the loan deposited into your bank account within an hour or two, however this may vary depending on your bank.
There are many reasons why you may need a cash loan today – but we don’t ask you what it is. It could be an emergency at home, urgent bills or practically any legal reason that you may need the money. We ask just one thing – only take a short term loan if you know you will be able to pay it back by your next pay day. Last thing we want is anyone getting into further debt troubles – these type of loans are for short term solutions only.
Making your payday loan application
We have one page of information to complete. Please confirm information about who you are and where you work. This, alongside your bank details is general information required in almost every loan application form. The difference being that once you fill in your application online, we are able to apply to multiple lenders for you and in the span of a few minutes return the result of your application for you to see. Our lenders have different requirements for their service which means that whatever your credit rating or financial situation, there might be a lender for you out there. The personal finance fields of the application are used to make sure you will be comfortable repaying your loan and won't get into trouble for borrowing one in the first place. Please ensure that you enter your information carefully – especially your contact details as many lenders will e-mail you information – and it’s very easy to type your e-mail address incorrectly.
When selecting the loan amount the best thing to do is place a realistic amount that would help you – don’t look to over borrow as most first time loans around the £200-£300 mark have higher chance to be approved.
What do I do if I want to renew my loan?
Renew your loan by contacting the lender directly – you should do this in advance of when payment is due. The majority of lenders will charge the same levels of interest and fees as charged in your original loan – but you will need to check with the lender direct. Renewal may be dependent upon a number of factors including affordability checks. Non-payment can result in damaging your credit rating – contact your lender as soon as you are aware you may have difficulty in paying to reduce the chance of this happening.
How much will my loan cost?
We work with a huge number of payday loan lenders so this is a really tough question to answer. The maximum, under FCA guidelines, you will be charged is an interest rate of 0.8% per day. Over 30 days this would mean a £100 loan would cost you £24 in interest - so your total pay back is £124.00.
It is vitally important to read and check the contents of all the information that the lender provides you with - this includes the total pay back cost, what charges (if any) will be applied if you cannot meet your payment and any other terms and conditions associated with the loan. If you are in any doubt you should call the lender direct and discuss with them.
Responsible Lending Policy
Who we work with
As a UK loan broker we endeavour to find you a lender that offers you the chance of being approved and offers you a great product that fits your needs and requirements.
We work with lenders that are authorised fully, or with interim permission, from the Financial Conduct Authority (FCA). We do not work with any lenders that do not have a licence with the FCA.
As well as the requirement to have a licence from the FCA you will also find that some lenders will have voluntarily signed up as members of the CFA (Consumer Finance Association) and/or the BCCA (British Cheque Cashers Association). This will mean that these lenders adhere to their codes of practice and guidelines.
Lenders Responsibilities
Lenders will use the information you provide to determine if they deem that you can afford the loan that you have applied for. It is their responsibility to ensure that the loan is deemed affordable. The definition of affordable should apply to the fact that a payday loan is designed, as its name suggests, to be repaid on the next pay day.
Payday loans should only be used for short term needs and only used to cover an urgent, short term, requirement. You should always make sure you have factored into your finances that the loan will need to be repaid, in full, with interest, when you next get paid. If you feel you will not be able to make this commitment then a payday loan may not be for you.
A lender should explain everything clearly to you - either in writing or verbally and at all times. Ensure you read all documentation provided by a lender, including any responsible lending policy they may have, and ensure you read the terms and conditions and overall cost of borrowing the loan from them. If you are in any doubt ensure you speak to someone at the lending company to confirm.
Customer Complaints
Should you be unhappy with any aspect of our service you can report complaints in reference to Fresh Cash via email at complaints@freshcash.co.uk
Upon receipt we will do our best to resolve the problem via email response by the end of the next business day. If we can't do this, we will send you a prompt written or electronic acknowledgement of your complaint with information on who is dealing with it.
We will negotiate with you and send you our full Final Response within eight weeks of receiving your complaint. If you are not satisfied with our response, you may appeal the decision via email at complaints@freshcash.co.uk. We ask you to please state your objections to the previous decision and include any new evidence to be considered.
Our letter will explain that you will have ultimate recourse to the Financial Ombudsman Service if you remain dissatisfied. Should you be dissatisfied with our Final Response, you can ask the Financial Ombudsman Service for an independent review.
You have six months from the date of our Final Response letter to take your complaint to the Financial Ombudsman Service and we will enclose a leaflet (or provide you with a link to the leaflet) for your information to assist you if you decide to pursue this further course of action. You can contact them at:
Contact Details The Financial Ombudsman Service Exchange Tower London E14 9SR Tel: 0300 123 9 123 http://www.financial-ombudsman.org.uk.
Representative APR: 1081% (variable). Representative APR Example: 1081% APR variable. £300 borrowed over 30 days would equal total borrowing of £372. Representative 1081% APR
*We are not a lender, we provide a free credit brokering service. We will never charge you a fee for using our application.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Fresh Cash UK is a trading name of Rainbow (UK) Ltd. Rainbow (UK) Ltd is fully authorised and regulated by the Financial Conduct Authority - FCA Number 674557. Our trading address is Unit 8 Saxon House, Upminster Trading Park, Upminster, Essex, RM14 3PJ. Our other contact details are specified on our website.
Fresh Cash UK, may receive a fee/commission for either referral or completion of your loan application.
Fresh Cash UK is not a lender but a broker that has access to multiple lenders across the UK. We cannot lend you finance ourselves - only refer you to a lender who can.
Payday Loans should be used for short term lender purposes only - not as part of a longer term financial option. Not all lenders will offer a 100% online decision - some may require to speak to you or require further forms of identification or details to check affordability. You will be credit checked by lender(s) to determine if you can be approved a loan.