QuickandFriendlyLoans.Com provide Fast, Quick, Friendly, Instant Cash Loans No Fees on this website.
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There should be a loan type that suits your circumstances from fast cash same day loans up to £2,000, personal loans up to £25,000 or guarantor loans up to £5,000.
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Little Loans: Representative Example: Borrowing £200 for 90 days at an interest rate of 264% (variable). Total amount repayable £291.18. Total Interest: £91.18. 993% APR representative.
Fix My Finances: Unsecured Loans (from £1,000 up to £25,000) - Representative APR 23%. Payday Loans & Short Term Loans - Representative APR 1773%
Amigo Guarantor Loans: Representative Example: Borrowing £4,000 over 36 months, repaying £195.16 per month, total repayable £7,025.76. Interest rate 49.9 % (variable)
You can apply on this website for all types of loans including Small Fast Cash Loans, Payday Loans, Monthly Installment Loans, Personal Loans, Car Credit Finance Loans, Unsecured Loans, Secured Homeowner Loans, Guarantor Loans UK, Debt Consolidation Loans, Fast Friendly Loans – Short Forms – No Fees and much more.
We encourage all visitors of the site to read this to fully understand the small fast cash loan process:-
Implications of Non/Late payment/Credit Score
We work with numerous lenders all of which have their own practices and distinct loan agreement terms and conditions. However, the consequences of non-payment can include:
1. Making it more difficult for you to obtain credit in the future or having to pay default charges to the lender.
2. Paying more for your credit by extending the term of the loan and therefore the period for which you pay interest.
3. Reports being made to a credit reference agency. Be sure to read carefully the terms outlined by the lender you have been matched with. If you are likely to miss or have any problems making a payment you should contact the lender directly to discuss your options. If you fail to resolve with the lender then your account may be placed with a collections agency or sold to a third party collections company.
Disclosure of Renewal
As a broker we are not involved with the decision to renew your loan. We work with numerous lenders all of whom have their own specific renewal policies. We encourage you to read the loan agreement terms and conditions specified by the lender we match you with carefully.
Should you have any questions or if you need to renew your loan, please kindly contact the lender you are matched with directly.
More information can be found on the FAQ’s and Responsible Lending pages.
Compliance with Regulations
Quick & Friendly Loans Limited is a licensed credit brokerage business with Interim Permission received from the FCA under the Consumer Credit Act 1974, which effects introductions between borrowers and lenders as well as other brokers, for the purposes of entering into loan agreements.
The operator of this website is not an agent or representative of consumers or any lender and does not endorse the services offered by specific lenders.
Lenders understand that peoples’ circumstances can change. If this is the case, you must let your lender know as soon as possible and they will do their best to come to some arrangement with you.
The most important thing to note is: Don’t borrow money you don’t think you can pay back. Some of our lenders may use collection agencies and you should discuss this directly with the lender concerned.
Monthly Installment Loans
These are loans that you can repay monthly. More and more lenders are offering even small amounts from 100 pounds upwards and lending them over more than 3 months. When borrowing up to 2,000 pounds, you can now choose to repay over 3, 6, 12 or 18 months.
If you borrow over 2,000 pounds, then you can repay the amount over 60 months and if you take out a large secured loan, the repayment period can be increased much further if required.
This is a great option, as it removes the very expensive rollover effect of the payday loan, which adds fees and interest and makes it unaffordable. Installment loans are also suitable for larger amounts for purchases like cars, caravans, jewellery or anything that you want really. Larger amounts and longer repayment periods are also available.
How do guarantor loans work?
Not everyone has a perfect credit history or credit score. This could be for many legitimate reasons, a lot of which might be due to the recent credit crunch which has affected a lot of people.Loans with guarantor work by the applicant supplying the details of some-one who is willing to act as a back-up and pay the debt if it all goes wrong which reduces the risk for the lender.
Some lenders ask for a homeowner as a guarantor but some say you can use anyone with a reasonable credit history.The need for guarantor loans online is rapidly increasing, with a rising number of individuals unable to access mainstream credit.
This means there are even more cheap guarantor loans available from a wide range of lenders.If you need to borrow money quickly – perhaps you want to take advantage of a great deal or buy your dream car, etc. – there are same day guarantor loans on the market willing to lend.
These companies promise to have the money in your account within hours of applying.If you apply with us, we search through all the guarantor loans lenders in the UK to get you accepted with the best approved UK lender at the best rate.
Fast, Quick, Friendly, Instant Cash Loans No Fees.
Dictionary of Banking Terms and Phrases
The payment history of an account over a specific period of time, including the number of times the account was past due or over limit.
Any and all persons designated and authorised to transact business on behalf of an account. Each account holder’s signature needs to be on file with the bank. The signature authorises that person to conduct business on behalf of the account.
Interest that has been earned but not yet paid.
Under the Equal Credit Opportunity Act, a creditor’s refusal to grant credit on the terms requested, termination of an existing account, or an unfavourable change in an existing account.
A sworn statement in writing before a proper official, such as a notary public.
The process of reducing debt through regular installment payments of principal and interest that will result in the payoff of a loan at its maturity.
Annual Percentage Rate (APR):
The cost of credit on a yearly basis, expressed as a percentage.
Automated Teller Machine (ATM):
A machine, activated by a magnetically encoded card or other medium that can process a variety of banking transactions. These include accepting deposits and loan payments, providing withdrawals, and transferring funds between accounts.
The balance of an account less any hold, uncollected funds, and restrictions against the account.
The difference between the credit limit assigned to a cardholder account and the present balance of the account.
The process of moving an outstanding balance from one credit card to another. This is usually done to obtain a lower interest rate on the outstanding balance. Transfers are sometimes subjected to a Balance Transfer Fee.
A bank custodian is responsible for maintaining the safety of clients’ assets held at one of the custodian’s premises, a sub-custodian facility or an outside depository.
Periodically the bank provides a statement of a customer’s deposit account. It shows all deposits made, all cheques paid, and other debits posted during the period (usually one month), as well as the current balance.
A business day during which an office of a bank is open to the public for substantially all of its banking functions.
A bankrupt person, firm, or corporation has insufficient assets to cover their debts. The debtor seeks relief through a court proceeding to work out a payment schedule or erase debts. In some cases, the debtor must surrender control of all assets to a court-appointed trustee.
The legal proceedings by which the affairs of a bankrupt person are turned over to a trustee or receiver for administration under the bankruptcy laws. There are two types of bankruptcy:
- Involuntary bankruptcy-one or more creditors of an insolvent debtor file a petition having the debtor declared bankrupt.
- Voluntary bankruptcy-the debtor files a petition claiming inability to meet financial obligations and willingness to be declared bankrupt.
A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract.
The time interval between the dates on which regular periodic statements are issued.
The month, date, and year when a periodic or monthly statement is generated. Calculations have been performed for appropriate finance charges, minimum payment due, and new balance.
A charge that appears on a periodic statement associated with an extension of credit (e.g., credit card) that was not authorized by the cardholder or the cardholders’ designee, is not properly identified, and was not accepted by the cardholder or the cardholder’s designee.
A billing error can also be caused by a creditor’s failure to credit a payment or other credit to an account as well as accounting and clerical errors.
A cheque drawn on the funds of the bank, not against the funds in a depositor’s account. However, the depositor paid for the cashier’s cheque with funds from their account. The primary benefit of a cashier’s cheque is that the recipient of the cheque is assured that the funds are available.
A written order instructing a financial institution to pay immediately on demand a specified amount of money from the cheque writer’s account to the person named on the cheque or if a specific person is not named, to whoever bears the cheque to the institution for payment.
Assets that are offered to secure a loan or other credit. For example, if you get a real estate mortgage, the bank’s collateral is typically your house. Collateral becomes subject to seizure on default.
A company hired by a creditor to collect a debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, usually through letters and telephone calls.
Consumer Credit Counselling Service:
A service which specialises in working with consumers who are overextended with debts and need to make arrangements with creditors.
Consumer Reporting Agency:
An agency that regularly collects or evaluates individual consumer credit information or other information about consumers and sells consumer reports for a fee to creditors or others. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies.
A form to be completed by an applicant for a credit account, giving sufficient details (residence, employment, income, and existing debt) to allow the seller to establish the applicant’s creditworthiness. Sometimes an application fee is charged to cover the cost of loan processing.
An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. Also commonly referred to as a consumer reporting agency or a credit reporting agency.
The maximum amount of credit that is available on a credit card or other line of credit account.
Credit Repair Organisation:
A person or organisation that sells, provides, performs, or assists in improving a consumer’s credit record, credit history or credit rating (or says that that they will do so) in exchange for a fee or other payment. It also includes a person or organisation that provides advice or assistance about how to improve a consumer’s credit record, credit history or credit rating.
There are some important exceptions to this definition, including many non-profit organisations and the creditor that is owed the debt.
A detailed report of an individual’s credit history prepared by a credit bureau and used by a lender in determining a loan applicant’s creditworthiness.
A number, roughly between 300 and 800, that measures an individual’s credit worthiness. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Banks use a credit score to help determine whether you qualify for a particular credit card, loan, or service.
A time of day established by a bank for receipt of deposits. After the cut-off time, deposits are considered received on the next banking day.
A debit may be an account entry representing money you owe a lender or money that has been taken from your deposit account.
A debit card allows the account owner to access their funds electronically. Debit cards may be used to obtain cash from automated teller machines or purchase goods or services using point-of-sale systems. The use of a debit card involves immediate debiting and crediting of consumers’ accounts.
Any person who regularly collects debts owed to others.
Debt Elimination Scheme:
A debt elimination scheme is a plan that is advertised as a way for an individual to eliminate various types of debt simply by paying someone a small fee compared to the amount of debt to be eliminated. These schemes are fraudulent.
As a result of using a fraudulent scheme, individuals will lose money, could lose property, will damage their credit rating, and possibly incur additional debt. In addition, a creditor may take legal action against an individual to resolve a fraudulent attempt to eliminate debt. It is also possible for the victim to have identify theft occur by participating in such a fraudulent scheme.
Someone who owes monies to another party.
Debt-to-Income Ratio (DTI):
The percentage of a consumer’s monthly gross income that goes toward paying debts. Generally, the higher the ratio, the higher the perceived risk. Loans with higher risk are generally priced at a higher interest rate.
A debt that was not paid when due. DLA.
A payment that is electronically deposited into an individual’s account at a depository institution.
A signed, written order by which one party (the drawer) instructs another party (the drawee) to pay a specified sum to a third party (the payee), at sight or at a specific date. Typical bank drafts are negotiable instruments and are similar in many ways to cheques.
The person (or bank) who is expected to pay a cheque or draft when it is presented for payment.
A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the financial institution’s Web site on the Internet. (This is also known as Internet or online banking.)
Embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings.
A financial instrument held by a third party on behalf of the other two parties in a transaction.
The funds are held by the escrow service until it receives the appropriate written or oral instructions-or until obligations have been fulfilled. Securities, funds, and other assets can be held in escrow.
The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge.
A property loan which is in a first lien position, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan:
The interest rate and the payment remain the same over the life of the loan. The consumer makes equal monthly payments of principal and interest until the debt is paid in full.
Fixed Rate Mortgage:
A mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.
A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default.
A key provision of the Fair and Accurate Credit Transactions Act of 2003 is the consumer’s ability to place a fraud alert on their credit record. A consumer would use this option if they believe they were a victim of identity theft.
The alert requires any creditor that is asked to extend credit to contact the consumer by phone and verify that the credit application was not made by an identity thief.
An account on which funds may not be withdrawn until a lien is satisfied and a court order or other legal process makes the account available for withdrawal (e.g., the account of a deceased person is frozen pending a court order distributing the funds to the new lawful owners).
An account may also be frozen when there is a dispute regarding the true ownership of an account. The bank will freeze the account to preserve the existing funds until legal action can determine the lawful owner.
A legal process that allows a creditor to remove funds from your bank account to satisfy a debt that you have not paid. If you owe money to a person or company, they can obtain a court order directing your bank to take money out of your account to pay off your debt.
A party who agrees to be responsible for the payment of another party’s debts should that party default.
Home Equity Loan:
A home equity loan allows you to tap into your home’s built-up equity, which is the difference between the amount that your home could be sold for and the amount that you still owe.
Homeowners often use a home-equity loan for home improvements, to pay for a new car, or to finance their child’s college education. The interest paid is usually tax-deductible.
Because the loan is secured by your home’s equity, if you default, the bank may foreclose on your house and take ownership of it.
This type of loan is sometimes referred to as a second mortgage or borrowing against your home.
The term interest is used to describe the cost of using money, a right, share, or title in property.
The amount paid by a borrower to a lender in exchange for the use of the lender’s money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures.
An account owned by two or more persons. Either party can conduct transactions separately or together as set forth in the deposit account contract.
Writing a cheque in an amount that will overdraw the account but making up the deficiency by depositing another cheque on another bank. For example, mailing a cheque for the mortgage when your chequing account has insufficient funds to cover the cheque, but counting on receiving and depositing your pay cheque before the mortgage company presents the cheque for payment.
The fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment. Also, a penalty imposed by a card issuer against a cardholder’s account for failing to make minimum payments.
An individual or financial institution that lends money with the expectation that the money will be returned with interest.
Legal claim against a property. Once the property is sold, the lien holder is then paid the amount that is owed.
Line of Credit:
A pre-approved loan authorization with a specific borrowing limit based on creditworthiness. A line of credit allows borrowers to obtain a number of loans without re-applying each time as long as the total of borrowed funds does not exceed the credit limit.
Loan-to-Value Ratio (LTV):
The ratio of the loan principal (amount borrowed) to the appraised value (selling price). For example, on a £100,000 home, with a mortgage loan principal of £80,000, the loan-to-value ratio is 80 percent. The LTV will affect programs available to the borrower; generally, the lower the LTV, the more favourable the program terms offered by lenders.
The written agreement between a borrower and a lender in which the terms and conditions of the loan are set.
A fee charged by a lender to make a loan (in addition to the interest charged to the borrower).
The net amount of funds that a lending institution disburses under the terms of a loan, and which the borrower then owes.
The amount of money required to be on deposit in an account to qualify the depositor for special services or to waive a service charge.
The minimum pound amount that must be paid each month on a loan, line of credit, or other debt.
A payment that has been made but not credited to the appropriate account.
A debt instrument used in a real estate transaction where the property is the collateral for the loan. A mortgage gives the lender a right to take possession of the property if the borrower fails to pay off the loan.
A loan made by a lender to a borrower for the financing of real property.
The lender in a mortgage loan relationship.
The borrower in a mortgage loan relationship. (Property is used as collateral to make payment.)
Offset, Right of:
Banks’ legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as right of setoff
A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the financial institution’s web site on the Internet. (This is also known as Internet or electronic banking.)
A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.)
When the amount of money withdrawn from a bank account is greater than the amount actually available in the account, the excess is known as an overdraft, and the account is said to be overdrawn.
To write a cheque for an amount that exceeds the amount on deposit in the account.
An open-end credit account in which the assigned pound limit has been exceeded.
A book in ledger form in which are recorded all deposits, withdrawals, and earnings of a customer’s savings account.
Past Due Item :
Any note or other time instrument of indebtedness that has not been paid on the due date.
A small-pound, short-term loan that a borrower promises to repay out of their next pay cheque or deposit of funds.
The person or organization to whom a cheque, draft, or note is made payable.
Paying (Payor) Bank :
A bank upon which a cheque is drawn and that pays a cheque or other draft.
Payment Due Date:
The date on which a loan or installment payment is due. It is set by a financial institution. Any payment received after this date is considered late; fees and penalties can be assessed.
The complete repayment of a loan, including principal, interest, and any other amounts due. Payoff occurs either over the full term of the loan or through prepayments.
A formal statement prepared when a loan payoff is contemplated. It shows the current status of the loan account, all sums due, and the daily rate of interest.
The person or organization who pays.
The interest rate described in relation to a specific amount of time. The monthly periodic rate, for example, is the cost of credit per month; the daily periodic rate is the cost of credit per day.
The billing summary produced and mailed at specified intervals, usually monthly.
Personal Identification Number (PIN):
Generally a four-character number or word, the PIN is the secret code given to credit or debit cardholders enabling them to access their accounts. The code is either randomly assigned by the bank or selected by the customer. It is intended to prevent unauthorized use of the card while accessing a financial service terminal.
A system established by a written agreement under which a financial institution is authorized by the customer to debit the customer’s account in order to pay bills or make loan payments.
The outstanding balance on a loan, excluding interest and fees.
A way of obtaining a better interest rate, lower monthly payments, or borrow cash on the equity in a property that has built up on a loan. A second loan is taken out to pay off the first, higher-rate loan.
An amount paid back because of an overpayment or because of the return of an item previously sold.
A form of extending an unpaid loan in which the borrower’s remaining unpaid loan balance is carried over (renewed) into a new loan at the beginning of the next financing period.
A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.)
Right of Offset:
Banks’ legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off.
Safe (or Safety) Deposit Box:
A type of safe usually located in groups inside a bank vault and rented to customers for their use in storing valuable items.
A charge assessed by a depository institution for processing transactions and maintaining accounts.
A summary of all transactions that occurred over the preceding month and could be associated with a deposit account or a credit card account.
An order not to pay a cheque that has been issued but not yet cashed. If requested soon enough, the cheque will not be debited from the payer’s account. Most banks charge a fee for this service.