Payday loans direct lender

 

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Payday loans are now a popular means to cater the immediate unexpected financial needs. The number of people in teh industry that have seen a rapid growth in the past few years in the United Kingdom. It is considered a plausible way to receive cash into one’s account. You can obtain payday loans directly from the lender or through broker. It is often advisable that you get the loan directly from the payday loans direct lender. The application process has been kept simple so it does not need the intervention of a broker between you and the lender. Most payday loans direct lenders have contact centres so that their customers can approach them directly to adk any questions without there being any need for a broker.

Below we will discuss why going to a payday loan direct lender is safe and has certain advantages.

You can expect quick service from a direct lender of your loan. Some direct lenders have 24/7 customer service in place who can help you with your queries round the clock (Editor: True Blue Loans is not a 24/7 lender). It will be the direct lender that ultimately decided whether to lend to you. 


A handful of brokers still charge a fee to help you find a loan. When you are already in need of quick financial support paying money on broker fees and charges will not be a good idea. If you do decide to go through a broker, make sure that you either pick a 'non fee charging' one, or if you do decide on a fee charging broker that you know exactly what the fee will be and how this fits into your already tight situation. With brokers, unlike luxuary products it si not the case of 'the more you pay the better you get'. Fortunatly, after the Financial Conduct Authority (FCA) brought in new transparency rules for fee charging brokers, a significant number have moved to the non fee charging model and get their commissions from the lenders themselves, however before this change many brokers were taking the fees, often upto £70 with the customers consent being obtained in a less than transparent way.

Another advantage of a direct lender is you will be able to research from their site what their actual costs and terms will be. With a broker website they cannot really provide these details as they will not know before you apply which lender, and therefore what deal you will be getting.

After going through the above facts it is clear that the role of payday loans direct lender is often better than brokers with respect to your loan application. Convenient process and proper guidance in making the best financial decision on your loan, secured transactions and safety of your account details gives direct lenders the edge. The customer oriented approach of payday loan direct lenders should instill confidence among the borrower with the loan process as well repayment.