Payday Loans explained

At Mr Lender we understand that sometimes the demands of modern life can’t wait until payday. Our flexible payday loans put you, our customer in control. We offer fast loans ranging from £200 to £1,000. To find out how much you could be eligible to borrow, please use our loan calculator.

Our short-term payday loan allows you to make monthly instalment payments spread over the duration of your loan. The amount due each month will decrease over time because we only charge interest on your outstanding balance. This makes our loans more affordable and will allow you to get back on your feet and take charge of your finances. You can find out more about how our repayments work here. Even if you think you have bad credit you can still apply for a loan with us, we have stringent affordability assessments and we only lend to people who are able to pay us back. You can find out more about our lending process here.

Mr Lender does not charge fees or penalties for late repayments despite lenders being allowed to charge a maximum of £15 for a missed payment. We are an FCA authorised company and our interest rate is capped at a maximum daily rate of 0.8%. You can find us on the FCA register here.

Why choose us

There are a lot of places out there to choose from, and the below are just some of the reasons why you should choose us:

  • We are a direct lender with over 29,000 positive reviews on, Trust Pilot and Google.
  • No up front costs or late fees.
  • Our UK based call centre is open 7 days a week.
  • The money could be with you the same day.
  • Mr Lender has been around for over 10 years.
  • Winner of multiple awards year on year.
  • Outstanding customer service.
  • Login at any time and manage your account.
  • Pay your loan off in full before the final date.

Things to consider before 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 which must also be the bank account your salary is paid into. As a responsible lender 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 employment checks, credit checks and affordability assessments, and not everyone who applies will be offered a loan or the amount applied for. For more information, read about the checks we carry out.

Your credit history

If you make an application with us we will check your credit history because as a responsible lender we want to ensure you are able to keep up with the repayments. You can check your credit file before applying for a loan by using agencies such as Clear Score, Experian and TransUnion.

APR explained

Our loans are calculated in Representative APR which makes it easy to compare our payday loans to other financial products. Our loan lasts just a few months, the APR is high because it’s calculated as though the loan is being taken out for an entire year – this explains why it might seem higher than other credit products options.

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 circumstances and affordability. If you compare our rates to other payday lenders, we are considered one of the most competitive loan providers in the UK.

Representative APR*
Mr Lender 1,242.3% APR Direct Lender
Wizzcash 1,265.0% APR Direct Lender
Sunny Loans 1,266.0% APR Direct Lender
Cashlady 1,272.0% APR Broker
QuickQuid 1,300.5% 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 11/09/2019 and may be subject to change.

Direct lender vs broker

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. When making an application through our website, you will not be charged any upfront fees and will only receive emails, text messages or phone calls from us directly. Find out more about applying for a Mr Lender loan here.

If applying for a loan elsewhere with a company identifying as a ‘loan providing service’, this could mean they are a broker. FCA regulations also mean brokers must make it clear that they are brokers and not a direct lender.

Be aware of brokers who promise to approve a loan before the application process is complete as these could potentially be fraudulent companies. Also keep an eye out for a company address and contact details, as fraudulent companies tend to use a PO Box number.

Repay early at any time

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

What happens if I can’t make a payment

We all know what it is like when life throws a curve ball, just give us a call and let us know the situation. Don’t panic but also don’t hide from your creditors. If your payment falls into arrears, daily interest will continue to be applied to your account and this can lead to a much higher outstanding amount. Failing to repay on time can also negatively impact your credit file which can make it harder to access finance in the future. Mr Lender is a fair, responsible lender and treating our customer fairly is at the forefront of all we do. We will work hard to find a suitable solution for you based on your circumstances. You can find out more information here.

Keep up to date with Mr Lender

We are very active on social media, you can find out more on our Facebook, Instagram and Twitter pages. Also be sure to check our 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 feel free to give us a call on 0208-532-1969.

Free financial advice

Warning: Late repayment can cause you serious money problems. If you are financially struggling and would like you free debt advice you can contact any of the following companies, or