Little Loans in London

Written by:

Cara Bradley

5 minutes mins read

Updated: 26th November 2024

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Are you looking for a payday loan alternative in London?
Little Loans could help you search for a suitable short-term loan between £100 and £10,000 with repayment terms from 3 to 60 months - any credit score considered.

London

Known for its array of striking landmarks, vibrant theatre district, plethora of museums and galleries, and shopping heaven, London undoubtedly captured the hearts of many of its 20 million international visitors in 2023… But what’s it like to actually live in the city?

In terms of living costs, the capital takes the crown as the most expensive UK city and the second in Western Europe.
In 2024, a single person residing in London can expect to spend £50,400 on essential costs per year, whereas a family of four will be set back an annual figure of £76,200.

When funds are already stretched, a financial emergency could threaten to leave us out of pocket. Whether it’s a broken washing machine or urgent car repairs, an unexpected expense can happen to any of us, at any time.
When these situations strike, and you don’t have the savings to cover the cost, you might think about taking out a loan.

Can I search for a payday loan with Little Loans?

None of the lenders on the Little Loans panel provide payday loans. Instead, they offer short-term, personal loans from £100 to £10,000, with a range of repayment terms to suit you.
Depending on the amount of money you apply to borrow, you could repay your loan between 3 and 60 months.

What’s the difference between a payday loan and a short-term loan?

As the name suggests, a payday loan is typically designed to tide you over between one payday and the next. They’re usually required to be repaid in full within a month and often come with a higher rate of interest.

A short-term loan comes with varied repayment options, which could help you spread the overall cost of borrowing. Rather than having to repay the money you owe within four weeks, a short-term loan gives borrowers the opportunity to repay their loan over a range of terms.

When deciding on a repayment term, it’s important to bear in mind that the longer the term, the more interest you’ll pay.

Can I apply for a loan in London?

Little Loans is a credit broker. Wherever you are in the UK, you can use our service to help you look for a short-term loan to suit your personal circumstances.

You’re welcome to search for a loan with Little Loans if you:

• Are over the age of 18;
• Are a UK resident;
• Have a UK bank account and valid debit card; and
• Have a regular source of income paid into your bank account.

Could I get a loan in London if I have bad credit?

Getting approved for a loan when you have bad credit can be tricky; however, a number of the lenders we work with specialise in loans for people with poor credit history and could be willing to consider your application.

A bad credit loan is likely to come with a higher interest rate and you should take this into consideration before you apply. You should be certain that you’ll be able to afford your monthly repayments, which will include interest.

I need money now in London. How quickly will my funds be sent?

When an unexpected expense crops up, it can be easy to panic and make a quick financial decision without stopping to think.
A loan is a serious financial commitment, and you should think very carefully before deciding whether or not to apply.

If you do decide to apply for a loan and you application is approved, your money could be sent the same day your application is accepted.
Your lender will be able to give you an accurate payout timescale.
You should bear in mind that the time it takes for the money to appear in your account will depend on your bank’s policies and procedures.

Why choose Little Loans to help you search for a loan in London?

• Little Loans, and all the lenders we work with, are authorised and regulated by the Financial Conduct Authority (FCA).
• Our service is free to use.
• Check your eligibility before you apply with no impact to your credit score.*
• No-obligation quotes.
• Our straightforward online form should take no longer than five minutes to complete.

Search for a short-term loan in London

Here’s what you can expect from the Little Loans process.

Step one
Tell us how much money you need to borrow, and for how long, and fill out our online form. This stage should take around five minutes.

Step two
In just 60 seconds, we’ll use soft search technology to check on your financial history with no effect to your credit score* and scan our panel of lenders for a suitable loan for you, based on the information you’ve provided.

Step three
If we’re able to match you to a lender, you will be redirected to their website, where you can find out more about the loan. Please be aware that pre-approval does not guarantee acceptance.

Step four
If you choose to make a full application, the lender will carry out some further checks, including a hard credit search.

Step five
Once the additional checks have been completed and the lender is happy with the outcome, they will send you a loan agreement. You should read this thoroughly before deciding whether to sign and return.

*If you’re matched with a loan and make a full application, the lender will carry out a hard search. A hard search will remain visible on your credit file for up to 12 months, and multiple hard searches within a short period of time could harm your credit score.