Qs: Looking for a List of Brand New Payday Lenders 2018?
Qs: Looking for a List of Brand New Payday Lenders 2018? ~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.
For instalments, Capfin launched a 6 month-only product. Whilst there are no key features to report on there, there may be some potential since their owner is Steinhoff International who turn over billions of pounds, controlling such high street brands as Bensons for Beds and Poundland. We then move on to Track Loans who really stand out on the pricing side of things. They in fact now offer the cheapest bad credit 3 month loans, asking for just £59.46 per £300. In contrast, Wonga charges more than £150 that gives you an idea of the value up for grabs there! Another brand delivering excellent pricing is Tappily (a sister-brand to SafetyNet Credit). 111
Alike SafetyNet, you receive a flexible line of credit that can be accessed 24/7 alongside overdraft protection. The difference here is that you can opt for a more sizeable limit of £2500 compared to SafetyNet’s modest £500. Their rate is also lower, but you’d need to have good score to qualify. Whilst they have struggled to get that initial spark, another newcomer (Juo Loans) have been growing quickly (update: recent traffic dip). Juo arises from Curo (the WageDayAdvance owner). Their service is built for both guarantor and non-guarantor loan needs with poor credit considered on both split products. Juo’s pricing is competitive and they operate 7 days a week. Other than those noted, there was a few 2017 rebrands.
This includes Auden (originally setup as Uberima in 2014) and also Dot Dot that went under Shelby Finance in 2012 (Morses Club acquired Shelby and brought that company back to life). Of this pair, Auden would be our pick due to the high level of flexibility provided on repayments. As well as short terms of 7 to 30 days you can choose any month between 2 and 12. In-Sync Credit Services was for reference another rebranded firm, but they have already closed that product. So that covers all of the newer companies. We’ll keep this submission open and report back on any brand new payday lenders 2018 (or other niche brands) when we become aware of them.
Last Update: June 6th, 2018.