Warning: Late repayments can cause you serious money problems. For help, go to moneyhelper.org.uk. We are a broker not a lender.

Jun 22, 2018

Can you Actually Borrow a Thousand Quid or Two and a Half Grand with Payday Loans

Payday Pug has a vast network of lenders. There are lenders offering a few hundred quid and some have policies to offer more than a thousand. You would have the liberty to choose the loan amount at the time of submitting your online application. Your application will be forwarded to all relevant lenders and they would exercise their discretion to put forth their offers. It is likely you would receive quotes from most lenders of unsecured short term loans, unless your application has an issue or if you have provided details that cannot be verified.

Whether or not the loan amount you seek will be offered to you would depend entirely on the lender. Your income will be one major criterion. Your existing debts will also influence the decision of the lender. If you are applying for a few hundred quid, chances are most lenders will entertain such a request. If you are applying for a thousand quid or perhaps two and a half grand, then only a few lenders will respond to your application.

First of all, not all lenders offer payday loans to the tune of two and a half grand. Most lenders stay within the safe ambit of a thousand quid. A hundred to seven hundred or even nine hundred is the range wherein most lenders operate. This is especially the case for first time borrowers. Lenders may offer more to those with whom they have dealt with in the past and have had a pleasant experience. You would already have fewer lenders if you are asking for a grand or two and a half thousand quid. These lenders will only respond with a quote if your income is sufficient enough to repay such a loan within a span of a few months, usually capped at six months but in some rare cases can be longer.

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Representative example: if you borrow £550 over 18 months at a flat rate of 180% per annum (fixed) with a representative 770% APR you will make 18 monthly payments of £113.06, repaying £2,035.08 in total. Rates from 45.3% APR to 1721% APR. A short term high cost loan should not be used as a long term solution. We are a broker not a lender. We don't charge fees. We don't sell your personal information. We may receive a commission from the lender.

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