Payday Loans

Apply for £200 - £1,000* for up to 6 months

At Mr Lender, we offer payday loans ranging from £200 to £1,000. We give customers the choice and flexibility to repay their loan from three to six monthly instalments, with the cost decreasing after each repayment. There are no fees for applying and if your application is successful, funds can usually be transferred to your account within 1 hour of approval.
* First time applicants can typically borrow up to £500 and once you have repaid a loan successfully on time and passed the credit and affordability checks, you may be eligible for extended borrowing up to £1,000.

Founded in 2009, we have become a leading credit provider and our commitment to responsible lending and top-notch customer service has led to 16,000 people rating our service as 5 star, with 98% of customers awarding us 4 stars or higher. We are all about transparency. Our easy-to-use calculator allows you to choose exactly how much you wish to borrow, and how long for, and you can see clearly how much you will need to repay. Mr Lender is a fully authorised lender and is regulated by the Financial Conduct Authority and you can find us on the FCA register here.

What is a payday loan?

A payday loan is where you would typically borrow a small amount of money and repay the loan (and interest) on your next pay date. You can usually get a speedy decision from a lender and the money into your account relatively fast, provided you have passed their affordability and creditworthiness checks.

On average people take out payday loans for around 30 days, more often than not when they find themselves in urgent need of cash. The short term injection of money is typically used to pay for emergency expenses such as a broken boiler, car repairs or a medical bill where the borrower's disposable income does not cover the cost. You can use the loan immediately to pay off your expense, and then repay the loan on your next pay date.

What is the criteria for applying?

To be eligible to apply for a payday loan with Mr Lender, applicants must meet the following criteria:


UK resident


Employed (part time or full-time) with a net income of at least £600 per month


At least 18 years of age


Valid debit card


Working mobile phone


Email address

  • UK resident
  • At least 18 years of age
  • Employed (part time or full-time) with a net income of at least £600 per month
  • Valid debit card
  • Working mobile phone
  • Email address

You must own a valid debit card that is linked to the bank account that you would like us to transfer your money into and take repayments from. We will NOT lend to anyone with evidence of County Court Judgments (CCJs) within the last 3 years, Individual Voluntary Agreements (IVAs), or Bankruptcy. All applications are subject to credit checks and affordability assessments, and not everyone who applies will be offered a loan or the amount applied for. However, we will do our best to help. For more information, read about the checks we carry out.

How do you measure the cost of a payday loan?

Our loans are calculated in Representative APR which makes it easy to compare payday loans to other financial products. Given the loan lasts just a few weeks or months, the APR is high because it is calculated as though the loan is being taken out for an entire year - which is why it might seem higher than other credit products available.

The 'representative' APR suggests that this is the rate that must be offered to at least 51% of customers that are successfully funded. The rate you are charged may vary due to the length of the loan or the individual's affordability and creditworthiness. If you compare our rates to other payday lenders, we are considered one of the most competitive loan providers in the UK.

Representative APR*
Swift Money 1,255.7% APR Broker
Mr Lender 1,256.3% APR Direct Lender
PiggyBank 1,270.0% APR Direct Lender
Cashlady 1,272.0% APR Broker
Sunny Loans 1,293.0% APR Direct Lender
QuickQuid 1,294.1% APR Direct Lender
Lending Stream 1,333.0% APR Direct Lender

* Representative APRs mentioned in the above table were obtained from each respective lender and broker website on 31/12/2018 and may be subject to change.

Other ways to calculate the cost of a loan include the daily interest charged and the cost per £100 borrowed. Regulation from the FCA has introduced a limit on what lenders can charge including a price cap of 0.8% per day and customers will only ever be required to repay double the amount they have borrowed. Lenders are allowed to charge a maximum of £15 for a missed payment however Mr Lender does not charge fees or penalties for late repayment.

We are a direct lender

Mr Lender is a direct lender, meaning we will personally process your loan application; all correspondence will be directly with us and we will fund your loan if you have successfully passed all the relevant checks. We believe that when you are looking for emergency funds, you do not want to be dealing with any middlemen and you want to know exactly which company you are working with. You will not be charged any upfront fees or receive any unsolicited emails, text messages or phone calls as a result of making an application on our website.

Repay early at any time

We are pleased to offer our customers the opportunity to repay their loans early at any point. So if you find that you are in a better financial position, you can simply call us or log into your my account page and clear your debts. It will also be cheaper to do this as we only charge you the daily interest on the outstanding balance. So, if you initially took the loan for six months and then you want to pay back after three months, you will be only charged the interest for the period you borrowed over.

Things to consider before you apply

The application should be made in your name only and we will require proof of your identity prior to approval. Make sure that you have checked the criteria before applying. If you are currently unemployed or claiming benefits, you will not be eligible to apply and should consider an alternative.

Borrowers should decide if they truly need to borrow money as payday loans and other short term loans are best for emergency purposes and should not be used for purchasing consumer goods or paying off other types of debt. It is best for applicants to think how they are going to repay their loan i.e with their salary or savings. If your payment falls into arrears, the daily interest will continue to accrue and this can lead to a much higher outstanding amount. Failing to repay on time can also negatively impact your credit score which can make it harder to access finance and competitive borrowing rates elsewhere.

Keep up to date with Mr Lender

Follow our social media and blog for regular finance-related stories, advice and money saving tips. If you have any further questions regarding a loan application, you can contact us by email or read our useful information guides below.

Warning: Late repayment can cause you serious money problems. For help, go to