No Credit Check Payday Lenders

No credit check payday lenders are where short term loans are granted without the lender carrying out any affordability and credit checks first. With no credit check, footprints do not show up on your credit report, which means you will not lose your credit score. We will decide your creditworthiness on the basis of your income statement.

Generally, lenders use a soft credit check to assess the affordability of loan repayment before providing an initial loan quote to the borrower.

What is a Credit Check?

A credit check is when a company looks at information from your credit report to understand your financial behaviour. When checking someone’s file, the following information will be made available:

  • Your full name and date of birth
  • Electoral roll information to confirm your current and previous addresses
  • All loans, credit card and mortgage accounts that are open, their start date and loan amounts. All accounts closed in the last six years will be listed.
  • Previous application searches and footprints
  • Joint accounts with other people e.g spouses
  • Any missed repayments and number of times it has happened
  • History of debt including bankruptcy and CCJs

Can I get a Payday Loan without a Credit Check?

No, there is no such thing as loan without a credit check. The financial regulator of the UK – the Financial Conduct Authority – has made credit checks mandatory. Borrowers used to borrow a hefty amount of money and when they failed to repay, they had to pay more than twice the borrowed loan amount. Hence, a proper review of the credit history will a lender to evaluate a borrower’s financial conditions and his capability to repay the loan so that the borrower doesn’t get caught in a debt trap.

Are No Credit Check Payday Lenders available?

How to apply safely for a Payday Loan?

At PM Loans, we are an FCA registered direct lender as well as loan broker that deals with a panel of FCA authorised lenders of the UK. We promote responsible lending and hence, our lenders conduct a credit check to safeguard the interests of the borrowers. We deal in a wide variety of short term loans to cater to the financial needs of borrowers.

If you are looking to apply for a payday loan, here is how they work:

  • Submit your online application form
  • Get an instant decision
  • Receive your funds the same day or next working day

Apply Now!