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Payday Loans Alternatives

What Are Payday Loans?

Payday loans are short term loans designed to bridge the gap between paydays and are particularly useful in case of emergency. The types of emergency that payday loans are ideally suited to are unforeseen incidents such as breakdown expenses or emergency dental or vets bills. Payday loans generally range between £100 – £1,000. For more information, please take a look at our FAQs page.

Payday Loans from a Responsible Lender

The Loan Ranger takes great pride in being a fair and responsible lender. Regulated by the Financial Conduct Authority, which means we adhere to the strictest of quality standards for all our customers, so you can rest assured knowing you are in capable hands.

Our application process is quick and easy and all online, which means you could have a prospective decision in under ten minutes. There are no hidden fees and charges, providing a straightforward alternative if you need a little help.

If you are looking for a loan, make sure you always do your research and only borrow from a reputable lender who is committed to delivering a fair and responsible service like the Loan Ranger.

Three Month Instalment Loans

To provide our customers with a truly outstanding service, The Loan Ranger is proud to offer three month flexible loans, ensuring smooth repayment with minimum fuss in three convenient equal amounts.

First time customers can apply for up to £300 and returning customers up to £1000 for the ultimate in flexible borrowing. For more information please visit our three month instalment loans page

How Does an Instalment Loan Work?

If you are a first time customer of the Loan Ranger and you wish to borrow £300 over a three month period, your interest would be £154.26 so the total amount repayable is £454.26. Therefore your instalment loan would be three equal monthly amounts of £151.42 over the course of three months.

How Does a Three Month Loan Work?

When you take out a short term loan from the Loan Ranger, you pay it back in three convenient equal instalments as opposed to more traditional loans where you pay back a lump sum.

Checking Eligibility

To be eligible customers must meet the following criteria for a loan:

  • Over 18 years of age
  • Permanent UK resident
  • Employed and take home £750 minimum each month

Please note that payday loans are unsecured. Please make sure you can meet the repayments and avoid creating a cycle of debt. Payday loans have a short duration and higher APR than other traditional methods of borrowing.

The Loan Ranger is a Fair and Responsible Lender

The Loan Ranger will check the suitability of all applicants with necessary credit and affordability checks prior to any approval. We may ask for details to confirm your employment and income as part of the process.

With each new loan application we receive, we conduct the necessary checks and endeavour to:

  • Respect our customers
  • Be transparent and fair
  • Only lend to applicants to who pass the credit and affordability checks.

Payday loans companies are sometimes in the spotlight for negative reasons. This can be due to any number of reasons including high levels of students without the ability to repay applying for loans, and also, due to rogue and bad practice lenders who do not adhere to the FCA’s strict rules.

The Loan Ranger puts customer service at the forefront of all we do and always endeavour to maintain the fair and responsible lending status we are famous for.

What Do the Checks Consist of?

Our substantial checks will assess various criteria to ensure you can meet the repayment schedule comfortably and within the allotted timeframe. Our checks consist of a credit check, employment check and an affordability test. All our products come with a flexible repayment plan, allowing for the timely repayment of all loans.

Other Avenues for Funding

Due to the short duration and high APR, we recommend you assess alternative methods or avenues for funding before you take out a payday or short term loan. Please visit our alternatives to payday loans page for more information.