Smart Loans UK - Read our Frequently Asked Questions

Have a question about our product? You can read the most common answers to popular questions below. Still unsure? You can get in touch with us too.

How do you earn your fee for this service?

To operate this service we receive commissions from the provider we refer you to. We are a broker not a lender. We use a unique process to match our customers requirements to our lenders which is based on many of the features of the application details, applicant preferences, and the lenders product but does not include the commission paid by the lender to us. We DO NOT charge our customers a fee for this service. No one from Smart Loans UK or any financial partner relations; including lenders; will ever contact you and request you to send money to them or buy products from them in advance of receiving your loan. To learn more about dealing with cold-calls, refer back to our fraud protection guidance.

How do I repay my loan?

Your payment will be taken in full usually via direct debit on your next payday.

Why is the APR so high?

Short-term loans are normally taken over a maximum term of 30 days so the APR is not the best way to see how competitive our rates are. Our lenders prefer to focus on the amount you pay back in total rather than on APR. We are confident that we offer the most competitive rates in the market for this service.

Instalment loan APRs are lower due to the fact that the loan repayments are spread over a longer period of time.

Do you use credit agencies to check credit scores?

Yes, when you subbmit your application you consent for our lenders to run a credit check to see if your eligable.

Do you charge any fees for the service you provide?

No. We do not charge any fees for our service

Bad credit history?

You can still apply with a bad credit score!

What are my rights to cancel my loan?

If for any reason you choose to cancel your loan please refer to the loan agreement sent to you by your lender, cooling off periods and lender cancellation policies may vary.

How do I opt out of your marketing messages?

If you are receiving email and text messages from our company it is because when you filled out the online application, the marketing permission box was checked when you applied for a short-term, loan with Smart Loans UK.

If you wish to stop receiving news of our latest offers and deals please click on the unsubscribe link in one of our emails or reply 'STOP' to one of our text messages.

Fees are charged by some of these entities to cover the cost of call-centre operations and membership system infrastucture required to source alternate loan options for you.

If you decide to pay the fee, all our partners will take your payment details via their website using SSL-secured technologies. No one will ever contact you and ask you to purchase products in advance to prove your ability to pay. If this happens you may be a victim of fraud. Learn more about how to protect yourself by referring to our fraud protection guidance.

If you wish us to skip offers that require up-front fees, you can specify this preference on our application form and we will skip them for you.

What if I have difficulties making repayments?

Please see the links below if you are having troubles making your monthly repayments.

www.stepchange.org Is a free advice on debt problems and finding the best solution for you.

www.moneyadviceservice.org.uk offers a free, unbiased and independent advice to people who want to manage their money more effectively. Face to face sessions available.

www.nationaldebtline.org is a FREE, confidential debt advice service that is run by the Money Advice Trust.

Can I use a short term loan to consolidate my debt?

If you are thinking of consolidating existing borrowing you should be aware that it may involve repaying a higher rate of interest, extending the terms of the debt and increasing the total amount you repay.

Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk