Why Is LoanPig A Great Payday UK Loan Alternative?

When shopping around for the perfect payday loan solution for you, it can be hard to know where to turn. While there are a great number of payday loan providers like Payday UK out there on the market, that does not mean that such payday loan providers are suitable for everyone. It is important to consider alternatives to Payday UK loans before settling on the ideal quick loan solution for you.

If you are looking for a Payday UK alternative but are not sure what to look out for, then what you should first consider is the difference between a broker and a direct lender. LoanPig is a Short Term loan broker and direct Lender and Payday UK is just a direct lender. While a direct lender is able to directly approve your application and supply you with a loan, that doesn’t mean that they will always be able to offer you the best option loan options or met your loan specifications. Finding a great deal when it comes to payday loans is all about finding a lender who will offer you great rates and a range of options, which is where a broker/lender like LoanPig will be able to help.


How Easy Is It To Apply For A Payday Loan Online?

When it comes to applying for a payday loan, it is important to consider the best solution for you when it comes down to the application process. While in the past most payday loan lenders operated on the high street, today there is a shift towards making applications digitalised and minimising fuss and stress of telephone calls and unwanted emails. With LoanPig, you can rest assured that our entire application process takes place online, so you can apply for a loan from the comfort of your own home and not have to worry about dealing with bothersome calls. The application process for Payday UK is similar in the fact that it all takes place online.


When Will I Receive My Loan Amount After Being Accepted?

Once your application has been approved, Payday UK can transfer the funds for your loan into your account on the same day if you complete your application before 3pm. At LoanPig, we offer the same timescales but very high acceptance rates.


How Do I Pay Back My Loan?

With both Payday UK and LoanPig, you will come to find that repayments are easy and are typically taken out of your account automatically on the repayment date. Rest assured that you will receive notification in the form of a text or email when the money in your account is due to come out so that you are never caught unawares.


LoanPig Short Term Loans Vs. Payday UK Short Term Loans

The great thing about payday loans is that there are a huge number of options that allow you to pick and choose the ideal loan provider for you. Whether you choose Payday UK loans, a direct lender, or a broker, you will need to carefully consider the benefits of each before going ahead with the application process.


How Does The APR Of LoanPig Compare to Payday UK?

The Annual Percentage Rate is the amount that you can expect to be paying back if you kept your loan for a year, which includes interest and any added service fees. A great way of deciding which lender is right for you is by comparing the APR rate as it serves as an indicator of how much you will be paying back on your loan over time.


How Much Can I Borrow With LoanPig In Comparison To Payday UK?


For some people, the loan amount is the most important thing to consider when looking at taking out a payday loan. With Payday UK short term loans, you will be able to take out anywhere between £100 and £2,000 and choose from repaying your loan upfront in one simple payment or up to as many as 12 instalment payments. Here at LoanPig, you can borrow anywhere between £50 and £1500 and pay your loan amount back over a period of 2 to 6 months. You are given absolute freedom and control when it comes to taking out a loan amount that perfectly suits you.


Who Is Eligible For A LoanPig Loan?

The eligibility criteria for a LoanPig loans and Payday UK are slightly different. While both LoanPig and Payday UK require the following…


– That you are over the age of 18

– That you are in permanent employment

– That you have a valid debit card and bank account

– That you have an email address and mobile number


…Payday UK also requires loan applicants to be receiving an income of more than £417 each month after tax. While LoanPig is a responsible lender and requires its applicants to meet a certain criteria before being accepted for a loan, we simply require you to have some form of steady monthly income each month (be that in the form of a salary, disability allowance etc.) and do not require you to meet a specific income amount in order to be approved for a loan.


What Can I Use My Money On?

Regardless of whether you choose Payday UK or LoanPig, you can rest assured that you will be able to spend your money on whatever you see fit. Here are some of the ways in which our customers have chosen to use their LoanPig Payday loan in the past:


  • To consolidate existing loans and start on the road to better managed finances
  • To tide your money over until your next payday
  • To pay for unexpected bills e.g. utility, medical etc.
  • To finance a car or other expense


When your facing financial emergencies and unexpected expenses, payday loans can help you stay out of the red and stay in the black, allowing you to get your finances on track and stay out of debt while you wait until your next payday.


If you want to learn more about what we do and what it is that makes us stand out in comparison to Payday UK short term loans, be sure to check out our FAQ’s or get in touch with us today!