Payday Loans

Who is Mr Lender?
He is your friend until payday. He likes to help people out of short-term financial difficulty by providing loans of between £50 and £750 that will generally be repaid within 30 days. This might be to release some immediate cash to pay for a new tyre, a utility bill, some presents, some holiday spending money or any other requirement you may have. He is a responsible lender and will only provide you with a payday loan if he feels you will be able to pay it back.

He brings a trustworthy, reliable and friendly face to payday loans. Born and bred in Britain, Mr Lender has dedicated his life to providing simple access to money and great customer service.

(Mr Lender is a trademark of PDL Finance Limited © Copyright PDL Finance Limited, Trading as Mr Lender. Company Number 83039309. Registered Office Galley House, Moon Lane, EN5 5YL. CCL Number 623787/1. DP: Z1575177)

What criteria do I need to be approved for a payday loan?
To qualify for a loan, you must be over the age of 18 at the time of applying, be in full time employment and get paid regularly. You must also own a valid debit card that is linked to the bank account that you would like us to transfer your money in to.

How much money can I borrow?
If it is the first time you have ever borrowed from Mr Lender he may be able to lend you up to £500. When you pay back a payday loan he becomes more of a ‘friend’ and will be able to increase the amount you can borrow the next time. You will begin as an ‘acquaintance’ but can quickly become a ‘pal’, ‘best mate’ or even ‘like family’ where he will lend you up to £750. Your friend level will be shown on Mr Lender’s ‘Friendometer’ on your ‘My Account’ page.

Please note that although he wants to become ‘friendlier’ with you, we do not encourage you to borrow more money. Our short-term loans are usually repayable within 30 days because we do not want to keep you having to repay outstanding debts. A payday loan from Mr Lender should just be used to help you out of an unexpected financial situation until you next get paid.

How long until the money is transferred into my bank account?
Upon approval, he will immediately transfer the money into your bank account. The money usually reaches your bank account within 2 hours (over 90% of high street banks). Some banks may take longer so please allow up to 72 hours before the money reaches you.

How do I use the payday loan tool on the home page / loan tool page?
We have tried to make the loan tool as easy to use as possible. Firstly, please select how much money you wish to borrow by typing in a figure where indicated or by using the + and – buttons to change in £10 increments. Once you have selected the amount you wish to borrow, please select your next pay date. You can either select the last Monday, Tuesday etc of the month or alternatively choose a specific day of the month from the pop-out bar. The total amount repayable will automatically be calculated and you will be shown a breakdown of the loan costs by clicking on the ‘Proceed’ button.

Am I require to send any documents or fax any documents to apply for a payday loan?
We try to keep the loan application process as paperless and hassle free as possible so in most cases, there is no need to send any documents to us via fax or post.

How much will a loan cost me?
He charges £25 for every £100 you borrow. There is also an administration fee of £5.

What does ‘Typical APR’ mean?
This is the APR it will offer the majority of borrowers but not all. The typical APR will be offered to two-thirds (67%) of borrowers.

Can I apply for a loan if I do not have a good credit history?
Yes you can. Anyone can apply for a loan.

Will a payday loan from Mr Lender affect my credit history?
The answer is simply, YES IT WILL - in either a positive or negative way. When you repay a loan, he will update your credit history with confirmation that you have settled your debt making you a more desirable lending proposition to other lending institutions. If however you do not pay back a loan to Mr Lender, he will show this on your credit history making it more difficult for you to obtain credit in the future.

What happens if I struggle to pay back the loan or I cannot repay back the loan?
If you think you may struggle to pay back your loan, you MUST contact us at least 24 hours prior to the repayment date with details as to why you may have problems repaying the loan. We understand that from time to time the unexpected may occur and we will review your situation on an individual basis. If Mr Lender decides that it is genuinely in your best interest, we may agree to an extension or a new repayment plan over the weeks that follow. If an extension is approved, there will be a fee of £10 to pay to cover our administration costs and a small percentage to pay of the outstanding amount.

You must always assume that we will try to collect your repayment on the specified agreement date unless you have received confirmation from us that we are willing to extend the period for repayment. Please do not take a loan from Mr Lender if you do not think you can repay it on the repayment date. Doing so may result in your credit history, extra administrative and recovery costs and other serious consequences.

How do I pay back my loan?
On the morning of your repayment date, we will debit your payment card with the full balance outstanding from your loan.

Can I pay back my loan early?
Yes you can. Paying back a loan early will only increase your status on the ‘Friendometer’ chart and improve your credit allowance in the future. You will never incorporate any fines for or hidden fees for early repayment of a loan. Just contact us to authorise immediate payment.

How can I make a complaint?
If you are not happy with any part of our service please let us know by calling us on 0844 335 1190.

We hope that you never have to put a complaint in writing because that would mean that Mr Lender and his colleagues are not doing their jobs properly. However, if you are not satisfied by our original response or the way that we have dealt with your original complaint, you can write to us at complaints@mrlender.co.uk or by normal post. Our postal address can be found on our contact us page.