Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
As well as comparing short term loans with other types of credit, before you apply for a loan, it’s a good idea to shop around and compare a range of lenders. You can use the tool below to get an idea of how much the loan that you have in mind might cost.
Cash Kitty is a broker, not a direct lender. This means it does not lend money itself, but instead introduces you to a provider that is willing to lend to you. It uses details from your application to search its panel of lenders and find the best short term loan to suit your situation.
While using a broker gives you quick access to quotes from a range of lenders, you must always check who you are borrowing from and what their terms and conditions are. It’s also important to understand that there may be cheaper options outside of this panel of lenders.
Cash Kitty receives commission from the lender, and will not charge you a fee for its service. However, if it is unable to match you with a loans provider, it may forward your application to another broker. You will need to check if this broker does charge a fee.
| Product Name | Cash Kitty Short Term Loan |
|---|---|
| Available Amounts | £100 to £5,000 |
| New customer maximum | £5,000 |
| Loan terms | 1 month to 24 months |
| Soft search eligibility check | |
| Parent company | William Ellis Sinclair |
| FCA registration number | 618190 |
You can apply for a loan on the Cash Kitty website 24/7 using the simple application form. Choose how much you would like to borrow and for how long, and fill out some basic details about you and your finances.
Many short term loan companies will use a “Continuous Payment Authority” (CPA) to collect loan repayments. Your repayment will usually be taken in full from your bank account on your next payday. It will be taken directly by the lender that you chose to take your loan out with. In some cases lenders will consider repayments via direct debit or by manual bank transfer.
Cash Kitty is a registered loan broker and is authorised and regulated by the Financial Conduct Authority.
However, short-term borrowing can lead to financial stress, especially if you fail to make your repayments, and should only be considered as a last resort.
As Cash Kitty is a loans broker and not a lender, it can be hard to determine the likely cost of your loan upfront. Cash Kitty tries to find you the best deal from a panel of lenders, and the actual cost of your loan will therefore depend on the rate and terms offered by the specific lender.
Cash Kitty claim that the loans they offer have a monthly cost of £10-£30, but this may not be completely accurate. Cash Kitty do not charge any fees, but you may be charged additional fees depending on the lender you actually get the loan through.
Loan amount: £400
Loan term: 3 months (with monthly repayments)
Interest rate: 161.9% p.a.
Representative APR: 305.9%
Total cost: £561.92
You should only accept a short term loan from one of Cash Kitty’s lenders if you are certain you can comfortably meet the repayments. You must also:
| Residency | UK resident |
|---|---|
| Minimum age | 18 |
| Additional eligibility notes | You must have an income. You must have a valid bank account. You must have a valid address. |
Fast loans and free service from a broker can come with some pitfalls. You should consider these before you apply for a loan through Cash Kitty:
Short term loans offer a quick solution when you get into difficulty with your finances, but they are a very expensive method of borrowing. They should therefore only be considered as a last resort. Short term loans are unlikely to solve your money problems in the long term, and are not a good idea for borrowing over longer periods, or for sustained borrowing.
Before you apply for a short term loan, make sure you have considered other options carefully. Is the expenditure that you’re planning absolutely essential? If you can put off a purchase then you could save yourself money in the long run. If you are struggling to pay a bill, then try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan. Read more about alternatives to payday loans at moneyadviceservice.org.uk.
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