Naylors Loans

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Qs: Looking for a List of Brand New Payday Lenders 2018?

Reader Qs

Qs: Looking for a List of Brand New Payday Lenders 2018? ~Scott.

Hi Scott,

We’re unaware of any brand new payday loan lenders that launched recently across 2018. It is only several months into the year and so there may be some newcomers popping out of the woodwork soon enough. Whenever we do learn of any brands we’ll quickly profile them on the site. Whilst there are no new payday lenders 2018 to list at this time, it is worth paying attention to those that either launched or rebranded back in 2017. There have been quite a few of these that we assign to one of the categories in the Compare section. In general, most of these are however targeting instalment terms rather than short term.

And so covering 2017, Fernovo and Payday Loans Net each enable monthly borrowing. PDNet as they are also known is from the Western Circle group who use a range of trading names. The central one is of course CashFloat who have been progressing very well in this sector over the past year. There aren’t any notable features for PDNet, but we have been impressed by Fernovo (from the team behind Quidie). Their pricing is low with the monthly £100 charge there coming in at just £15. Whilst their support can only be reached during the week, it is stated that their underwriting team operates 7/7. Online reviews are however lacking for this firm.

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Cheapest Loans Across Sectors 2018

Shown: Niche (Amount Compared | Term Compared | Best in Each Band A & B)

Payday (/£100 | 1m): A = Drafty: £5.40 | B = Sunshine Credit: £12
Instalment (/£300 | 3m): A = Drafty: £48.60 | B = Track Loans: £59.46
Instalment (/£300 | 6m): A = Tappily: £76.50 | B = Fair Finance: £88
Doorstep (/£100 | 51w-52w): A = Mutual: £40 (51w) | B = Provident: £87.20 (52w)
Personal (/£1k | 12m): A = AvantCredit: £205.22 | B = Likely Loans: £278
Guarantor (/£1k | 12m): A = Guarantor My Loan: £129.81+ | B = LendFair: £228.68
Logbook (/£1k | 12m): A = MotorKitty: £200 | B = V5 Loans: £640.60

Notes: A & B bands = A (Good Credit) & B (Bad Credit)
Exceptions = Doorstep (Local-only/National), Guarantor (Homeowner/Tenant Backings).