Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk. We provide a broking service and are not a lender.

Representative APR 1294.1% £200 payday loan for 28 days. Total repayable £244.80. Charge for credit £44.80 - interest only. Interest rate 0.8% per day, equal to 292% p/a (fixed)


We think it's important that you understand how much a payday loan will cost you

We believe in being totally transparent about the charges you will pay.
Here is our representative charges example of a 28-day payday loan.

What is the cost of a payday loan?

The cost of a payday loan may differ between lenders. We provide you with a representative example before you apply, so you can get a rough idea of the cost of your loan. However, the actual cost of your loan will be presented to you when you are directed to your matched lender.

The cost of your loan is usually comprised of interest only and is worked out in relation to the number of days you will be borrowing for.

For a more thorough breakdown of the costs involved with a payday loan, see Charges.

What if I can’t repay my loan on the due date?

If there is any possibility that you can’t meet your repayments, you should notify your lender as soon as you become aware. Lenders may be able to offer a solution to you, often in the form of a repayment arrangement.

You should always contact your lender if you are having trouble paying back a loan. Notifying them early will help to prevent adverse effects on your credit score and finances.

You can read more about repaying your loan here.

Will your lenders check my credit report?

We do not run credit checks as a broker, but our lenders will check your credit report as part of our matching service. This is to ensure that you are able to repay the loan and is part of our responsible lending policy. You should ensure that all information you provide us with is accurate and complete so that our lenders may assess your application effectively.

What happens if I have a poor credit history?

Our lenders may perform credit checks to assess whether you are a good candidate for a payday loan. A poor credit report may affect the lender’s decision, though some lenders can be more lenient with their requirements. Therefore, we welcome applications despite a poor credit report, though we do not guarantee that you will be successful.

Does applying for a payday loan leave a footprint on my credit file?

Yes, each time you apply for a payday loan, our lenders will check your credit rating using credit reference agencies. This is to ensure that you are able to meet your repayments and to verify your identity.

For each check our lenders carry out, a record, or application footprint, will be left. If you make frequent applications in a short period of time, a number of footprints will be left on your credit record. This may indicate to lenders that you are struggling financially, which could affect the possibility of securing credit in the future.

I've been successful before and repaid my loan, why have I been declined this time?

Every application made with us will be assessed on an individual basis, so even if you have applied successfully and repaid your loan in the past, you are not guaranteed another loan.

You may be declined for a loan if your financial circumstances have changed or your credit report has been updated since your previous application. Your application may also be unsuccessful if our lenders have made adjustments to their system in order to improve their responsible lending policy.

We are not at liberty to discuss your application as to why it has been declined. If you require additional help, please contact one of the free debt advice services below.

  • Step Change Debt Charity on 0800 138 1111
  • National Debtline on 0808 808 4000
  • Citizens Advice – visit the website for your local branch: moneyadviceservice.org.uk

How will having a payday loan affect my credit rating?

Having a payday loan will not usually result in an adverse effect on your credit rating, provided it has been managed well and repaid in full by the due date. However, some lenders may have additional criteria and, unlike other lenders, may not see an effectively managed credit history as a positive.

I'm struggling to use your service, how can you help?

If you are struggling to use this website, please contact us at help@buzzloans.co.uk. Or find further contact details on our contact page.

Why haven’t I received the funds?

If your application has been accepted but you are yet to receive the funds, please contact your lender directly. We do not control the transfer of funds.

Do your lenders transfer funds on weekends?

Yes, most of our lenders will deposit your money 24 hours a day, 7 days a week.

What is the FCA?

The FCA, known as the Financial Conduct Authority, is a regulatory body that authorises and controls over 50, 000 UK financial services companies. The objective of the FCA is to scrutinise financial markets to ensure they are efficient, fair and beneficial for consumers. The FCA standardises the financial industry, meaning companies must abide by the same regulations to prevent poor business practices.

You can read more about the FCA on their website: http://www.fca.org.uk/.

How are you compensated for this service?

We are a broker, not a lender. To enable us to provide you with this service without charge, we must earn commission from the lender we match you to. We will never charge you for this service and nobody from Buzz loans, or our lenders, will ever contact you for money prior to you receiving your loan.

Do you charge for your service?

No, we don’t charge customers for our loan matching service.

The APR seems high, why is this?

All financial services firms are legally required to present an Annual Percentage Rate (APR). APR’s are comprised of an annual fixed interest rate. As payday loans are intended for short term credit only, the APR will seem high as it is designed to represent long term credit. Your actual rate will be much lower, depending on the length of time the loan is taken for.

For more information on APR, and other financial terms, please visit our learning centre. Our jargon- buster guides can help.

How can I repay my loan?

Your lender will take your loan repayment, in full, automatically via direct debit on the due date you’ve agreed to. If you are concerned that you will not have sufficient funds to repay your loan on the due date, you must contact you lender as soon as you become aware.

Do I have any rights to cancel?

Lenders may operate different cancellation policies and cooling off periods. If you wish to cancel your loan, please refer to the loan agreement provided by your lender - this should indicate the terms of cancellation. Otherwise, you should contact your lender directly to discuss cancellation.

Can you guarantee the loan amount I’ve applied for?

We cannot guarantee that you will be granted the exact loan amount you have applied for. It is at the lender’s discretion to decide how much of the loan amount to provide. If you require further advice, please see moneyadviceservice.org.uk.

Will I see the terms of the loan before I apply?

You will clearly be provided with the terms and conditions of the loan before signing up. You should read these carefully before accepting your loan. You are only obliged to adhere to these terms and conditions once you have accepted the loan.

How can I stop receiving marketing emails and SMS?

If you do not wish to receive marketing emails and SMS, please see our marketing opt out page. Here, you can change your marketing preferences. If you have previously opted out of receiving such marketing messages and are still receiving them, please contact us.