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.
| Name | Established | Loan types | ||
|---|---|---|---|---|
 |
QuickQuid Short Term Loan | 2007 (ceased trading 2019) | Instalment loans | More info |
 |
Lending Stream Instalment Loan | 2008 | Instalment loans | Go to site |
 |
Moneyboat Short Term Loan | 2011 | Instalment loans | Go to site |
 |
QuidMarket Short Term Loan | 2011 | Instalment Loans | Go to site |
 |
Mr Lender Short Term Loan | 2009 | Instalment loans | More info |
 |
Conduit Short Term Loan | 2012 | Instalment loans | Check eligibility |
A contemporary of Wonga – which went into administration in 2018 due to the sheer volume of complaints it received – QuickQuid managed to weather the payday storm until 2019, perhaps thanks to being a part of US lending giant Enova International.
QuickQuid offered fast and uncomplicated short term loans of up to £1,000 to borrowers facing unexpected expenses. Typically, you could expect very high interest rates, no setup fees, quick access to cash (QuickQuid said it would get it to you within 10 minutes after your application had been accepted) and a limited number of instalments with which to repay the loan (usually between one and six).
Lending Stream (visit site) is a direct lender (not a broker), which, like QuickQuid, offers instalment loans of up to £1,500 over terms of up to 6 months. That's the same maximum as QuickQuid was offering just before it ceased trading (although for new customers the maximum is £800) but with a higher representative APR of 1,333%. As with QuickQuid, you can repay early at any point.
Lending Stream representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
Next up, Moneyboat (visit site) is also a direct lender, which, like QuickQuid, offers instalment loans of up to £1,500 over terms of up to 6 months. That's the same maximum as QuickQuid offered (although for first-time users the maximum is £800) but with a higher representative APR of 939.5%. You can repay early at any point.
Moneyboat representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
QuidMarket (visit site) is another direct lender, which, like QuickQuid, offers instalment loans of up to £1,500 over terms of up to 6 months. That's the same maximum as QuickQuid but with a higher representative APR of 1,297.6%. You can repay early at any point.
QuidMarket representative example: Borrow £300 for 3 months at a rate of 292% p.a. (fixed). Representative APR 1297.6% and total payable: £454.37 in 3 instalments of £151.46.
Mr Lender (read review) is a direct lender which, like QuickQuid, offers instalment loans – but of up to £1,000 over terms of up to 6 months. That's £500 less than QuickQuid (although for new customers the maximum is £500) but with a lower representative APR of 1,245.8%. Unlike QuickQuid loans, Mr Lender loans come with decreasing monthly repayments. You can repay early at any point.
Mr Lender representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative APR 1,245.8% and total payable £367.40 in payments of £81.33, £73.23, £65.13, £57.33, £49.24, and £42.14.
Finally, Conduit (check eligibility) is our last direct lender, which, like QuickQuid, offers instalment loans of up to £1,500 over longer terms of up to 18 months. That's the same maximum as QuickQuid but with a higher representative APR of 217.5%.
Conduit representative example: Borrow £500 for 39 weeks at a rate of 111.03% p.a. (variable) with a 3% variable admin fee of £15. Representative APR 217.5% and total payable: £756.78 in 39 weekly payments of £19.02.
Almost half of Brits (44%) have a side hustle in 2023. The average income from side hustles is £205.79 per week, or £10,701.24 per year.
Starling launches a money management tool to help you divide up your salary and send funds to different accounts automatically.
Why George Sweeney believes Berkshire Hathaway is one to watch. This week’s share tip. Not financial advice or a recommendation.
Nationwide is planning to give eligible members £100 in June as part of its newly launched Fairer Share scheme.
There’s lots to consider when buying cryptocurrency. Here’s your step-by-step guide.
Your kids’ bank account is often where your child starts their financial journey – here’s how we decide our star ratings for them.
We’ve tested, analysed and scored trading apps to find the 10 best trading platforms in the UK, who they’re best for and the pros and cons.
We’ve tested, analysed and scored trading apps to find the 10 best trading platforms in the UK, who they’re best for and the pros and cons.
We’ve tested, analysed and scored trading apps to find the 10 best trading platforms in the UK, who they’re best for and the pros and cons.
Our guide explains all you need to know about the card reader payment process.