No refusal payday loans: do UK direct lenders with no checks exist?

If you're looking for no refusal payday loans, direct lenders with no checks might sound like just the ticket, but can guaranteed credit be obtained as readily as that in the UK, if at all?

What do we mean by no refusal payday loans?

No refusal payday loans fall into the same bracket as guaranteed payday loans and no credit check lenders. It's the idea that everyone who applies for a loan will be accepted without checks and regardless of their financial circumstances or credit history.

Do payday lenders accept everyone?

No, payday lenders don't accept everyone. The suggestion of guaranteed payday loans is just a myth; likely, the rumour came about because payday loans are one of the easiest types of loans to get approved for. That might be the case, but there is still an approval process to go through, which means acceptance can't be taken for granted. Inevitably, some applicants will be declined.

Do no refusal UK direct lenders exist?

UK direct lenders — the firms that provide payday loans — are regulated by the Financial Conduct Authority (FCA), as are all lenders. FCA rules don't permit lenders to offer credit without performing appropriate financial checks, so no refusal loans aren't possible.

Why no refusal lenders don't exist

The FCA wants all consumers to be able to access credit where it is affordable, but, at the same time, they have to protect borrowers from the impact of unaffordable credit.

Under FCA rules, UK lenders are required to carry out 'creditworthiness' checks before entering into a loan agreement with an individual. Creditworthiness comprises:

  • The credit risk: whether you will repay.
  • Affordability: your ability to repay affordably without impacting your wider financial situation.

Every lender does this differently, but they must all make a reasonable assessment of both the credit risk and affordability. Inevitably, not everyone will pass checks, and some people will be refused credit.

'I've seen no refusal loans advertised online'

You may well have done. Some websites advertise 'too good to be true' loans, but we strongly recommend you steer clear. Not conforming to regulations is a massive red flag — a sure-fire sign that they're unauthorised (which means they're operating illegally). Sites like these hide in plain sight among legit businesses, ready to relieve unwary borrowers of cash and personal data. The people behind them are usually based overseas, so once the penny drops and you realise it's a scam, there's little you can do. The only thing guaranteed is that the promised loan will never materialise.

How can I ensure I'm dealing with a legitimate UK loan provider?

Never take an unfamiliar lending website at face value. Scammers often steal the details of legitimate regulated firms to make their sites appear genuine. If you're in any doubt about the authenticity of a website, check the Financial Services Register and make sure that the website itself (E.g. instantlolly.co.uk) is listed as a trading name under the Trading Names section. Here's Instant Lolly's register entry.

What are the alternatives to no refusal loans?

Payday loans are the nearest thing to no refusal loans. While not guaranteed, they are high acceptance loans, with lenders catering for a wide range of circumstances, including bad credit and people on benefits.

'I've been refused for payday loans before'

Even if you've been refused a loan before, you might still be able to get credit from other payday lenders. Every lender has its own acceptance criteria — and it varies widely. You may just need to find the right lender for your circumstances.

Where can I find a direct lender with the best acceptance rate?

It doesn't matter how good a lender's headline acceptance rate is; the key to getting accepted is finding a lender that lends to people with your specific circumstances. If you struggle with credit, need to find funds quickly or just need help to get things sorted, a broker may be a better alternative to a direct lender. Not only will you get instant access to lots of lenders, but crucially, they will be suitably matched with your credit profile.

Successful approval starts with the right lenders

With Instant Lolly, you are guaranteed to be dealing with authorised UK direct lenders. We'll quickly match your details with suitable lenders from our extensive panel of providers, then submit your application for immediate consideration. Heads-up — we can't guarantee to find loans for everyone, but we will ensure that all viable options are explored.

Instant Lolly provides loans from £100 to £3,000, with repayment options from 1 to 24 months. It's free to apply and doing so won't impact your credit score‡

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Important Information

We are not a lender and do not make credit decisions. We match customer applications with lenders in our network based on the information provided and are paid a fee by our partners following an introduction. There is no guarantee that you will be accepted by a lender or that you will be offered terms suitable for your financial needs. This website does not directly endorse any particular product or service and any information on this site should serve as opinion only.

†Loan approval: All loan offers are subject to lender final approval. Approval/transfer times vary by lender. Not all lenders may be able to transfer funds in 15 minutes. Approvals/transfers may take longer for applications processed outside normal working hours. If your bank does not support faster payments, it may take longer for funds to reach your account.

‡Credit checks: When assessing your eligibility for a loan, lenders will carry out a soft search; only you can see them on your credit report and they have no impact on your credit rating. If you accept a lender's loan offer, they will perform a hard credit search which will be visible to any company searching your credit file for 12 months.

InstantLolly.co.uk is operated by Amaze Media, a trading name of John O'Hara, 24 Buttercross Close, Burnley, BB11 5HB. Authorised and regulated by the Financial Conduct Authority, firm reference number 742221. Data Protection number Z3495700.