New Payday Loans Direct Lenders

new payday loans direct lenders uk

New Payday Loans Direct Lenders – there are now several direct payday loan lenders operating in the UK. These lenders boast higher levels of FCA authorisation than broker companies and safeguard your personal data more securely online.

Payday loans provide quick access to funds without incurring penalty rates or having a long application process.


The AZUREmoney brand is the trading name of Beauly Financial Services Ltd, a UK direct lender providing unsecured personal loans. They accept customers who are 21 or over with regular income.

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Their loans range in terms of size and repayment period up to £12,500 with early payback being allowed without incurring an extra fee.

Other similar direct lenders such as Ferratum (ceased accepting new loan applications during COVID-19 pandemic) and Trusted Quid (stopped lending activities November 2019) were available; other notable payday loan brands include The Money Shop and Wonga; both entered administration.


Ferratum is a micro soft lender offering various credit products. As it holds an FCA license, you can easily check its trading status and full details by searching their name in the FCA register.

The website promises that the full cost of their loans will be presented upfront with no hidden charges or surprises, while their customer service team offers assistance if you are having difficulty making repayments.

This company operates a global financial platform built upon big data for real-time scoring, lending, and banking services across Europe, North America, South Africa, and Australia.


MYJAR is a direct lender offering short term loans of up to £3,000 over three, six and twelve month repayment periods. Their outstanding reputation in the industry earned them 9 out of 10 Trustpilot reviews; moreover they also support debt charities Payplan and Stepchange as evidence of their commitment to helping those in financial difficulty.

MYJAR also partners with EQCS, an innovative consumer credit solutions provider. Through EQCS’ flexible loan management solution that is fully integrated with MYJAR’s origination system, they enable MYJAR to improve customer experiences while helping guide them along their repayment journeys.

Quick Quid

Quick Quid is one of the UK’s largest payday lenders and has officially entered administration after failing to reach an agreement with Financial Ombudsman Service regarding compensation due to mis-selling loans they could not afford.

It’s a crushing blow for the payday industry. Lenders will need to alter how they conduct business. In response, the Financial Conduct Authority introduced new rules including affordability checks and cost caps.

After the parent company of Quick Quid, Pounds to Pocket and On Stride entered administration on 25 October 2019, thousands of borrowers have been left out-of-pocket. Grant Thornton has now been appointed administrator.

There are various direct lenders offering personal loans in the UK. These lenders offer loans of various amounts and repayment terms, from payday loans to short term personal loans regulated by the FCA.

Direct lenders provide short-term loans to help ease the pressure of unexpected bills or emergencies, but must be able to show that their customers can repay them on time. Lenders will verify a customer has an income source which they can verify quickly before depositing funds into an individual bank account quickly.

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