2014 Lender Lists:

Short Term Loans | Payday Loans | Instalment Loans | 12 Month Loans
Doorstep Loans | Guarantor Loans | Logbook Loans

The impressive Sunny.co.uk Loans brand receives plenty of praise from us. They of course had previously operated as 1 Month Loan who reached the market in 2004. Think Finance (UK) Ltd is the owner and they do in fact have a second service that not too many people may be familiar with. This is Quid that is served from www.quid.co.uk with the launch appearing to be sometime in 2012. This is a 12 month lender, but you can just settle after a single month. If you did this then you’d just have to pay 29% (£29 per £100) with no extra funding charge.

You can select between £100 to £500 on the application form. There is no FAQ provided for confirmation, but I can remember them at one time providing an example for a sum of £1200 and so existing customers should be able to access amounts at this level. The info presented at www.quid.co.uk is limited in some areas, but they do encrypt applications and provide logins. The repayment structure is highly flexible here. You could settle after the monthly period, you could choose your own amount to pay or even simply make the minimum payment. This would include the interest (29%) plus 10% of the amount borrowed.

If you went with this option with £300 for 3 months and then suddenly cleared the balance then the cost would be £234.90. CCTA membership is held and the same operational times are worked as at their sister-brand that means that Quid loans are processed every day. There are some good qualities here, although it doesn’t quite carry the same perks as Sunny does. They for instance charge late fees and don’t provide loyalty discounts. The pricing is also expensive should you make minimum payments only. The interest is being cut against the reducing balance, but you need to make bigger payments for this to make a difference.