Mrlender.com Review - Key Info Before Applying For A Payday Loan With Mrlender.com

The content below is not a brief introduction into payday lending

, but an informed overview on borrowing from Mr Lender, its advantages and disadvantages and we also compare it against other UK loan providers to offer you a better overview on the matter. So this is obviously a review on Mr Lender.

You can get a same day loan from Mr Lender for a maximum of 1 month, which is similar to all other payday lenders. The amount of money you can borrow varies from 10 to 750, note however that as a first-time customer, you can only borrow up to 500. This brings us to one of the upsides of borrowing from Mr Lender: you can take out a loan as little as 10 which is one of the smallest amount among UK payday lenders. Also, the first-time loan of up to 500 is higher compared to most other companies. In fact the only lender that gives out loans exceeding 500 for new customers is Quick Quid.

They advertise an APR of 1990% and if you see the comparison table below (link also provided below) you will see that with this APR they are one of the cheapest lenders in the UK. However, on such short-term loans certain costs can inflate the APR so this is not the best measure to compare loans. Depending on whether you want a same day transfer of funds or not can have a huge impact on the APR, but fortunately the said comparison table takes all of this into account as you will see when you compare the 3 columns labelled 'Repayable on 100'.

Here, the essential facts will be provided should you be too lazy to View the comparison table (although I highly recommend doing that). Taking into account all the costs involved, Mr Lender is among the cheapest options. Only Wonga, Quick Quid and Speed-e-loans offer better prices, the latter being cheaper by an insignificant amount.

One negative to note about Mr Lender is that they charge a 5 admin fee on all their loans which is a bit cheeky as almost no other lenders do this. But they still manage to give out loans with an overall price that is very competitive in the UK market and as stated above it is the overall costs of the loan that must be considered when comparing lenders.

Another big advantage is that it is one of the few lenders that can approve you without needing documents faxed in and without credit checking you. This is ideal for those with poor credit ratings and for those that want an instant payday loan.

Mr Lender have a high accept rate and this is partly due to the fact that they consider applications from both part-time and full-time employees and also from the self-employed. In fact if you can prove that you have regular income and if it is paid into your bank account then you have a chance of being approved for a fast loan.

This review of Mr Lender has been written by the Team at WhichPaydayLender and we sincerely hope that it aids you in your decision making. Just to summarise, Mr Lender has many advantages including that you do not always need to fax in documentation or have a great credit rating as they do not check you. They are also one of the cheapest lenders if you need a loan for up to 30 days and with a same day funding. Main disadvantage is that they charge a 5 admin fee on all their loans.

by: Brian B Smith

POST COMMENT

Payday Loan Debt: How You Can Avoid The Pitfalls Your Savings Account Payday Loan For Hard Times To Make Your Process Simple Get In Touch With A Mortgage Brokers In San Diego Best loans as to Kit Remortgages And Secured Loans Can Be The Only Loans Ever Needed Payday loans no faxing: - Quick financial assistance without paper work Know More About Sba Finance & Apartment Loans Emergency Loans: Swift Access To Instant Funds Payday Uk Loans-financial Help For People In Uk Payday Loans Are A Good Solution For Those Who Have No Other Options. Unsecured Loans For Unemployed: Collateral Free Funding Deal For Jobless Unemployed Loans - An Ideal Solution For You Look Out For The Best Mortgage Broker In San Diego