Pay Weekly Loans

Cashflex is a credit broker, working with a panel of lenders who offer short-term, personal loans from £100 to £10,000, with repayment terms between 3 and 60 months.

If you’ve done your research and have decided that a loan is the right choice for you, you should take some time to consider your repayment options. For example, how long would you like to borrow the money for? How do you plan to make repayments – monthly or weekly? Working out your ideal repayment plan before you apply could help you narrow down your search.

The lenders on the Cashflex panel do not offer the option of repaying loans on a weekly basis; instead, customers can repay their borrowing in monthly instalments. Our guide talks about the difference between weekly and monthly repayment loans.

What is a pay weekly loan?

A pay weekly loan is a sum of money borrowed from a lender, which is then repaid across a certain term in weekly instalments. These repayments will include interest.

This method may be preferred by those who are paid weekly, as it could help with budgeting and managing the money coming in and out of your bank account.

Some borrowers opt to repay their loan in monthly instalments instead.

Can you pay back a loan weekly?

Some lenders may allow borrowers to repay their loan in weekly instalments, although you may find that many offer monthly repayments as standard. The lenders on the Cashflex panel only offer loans with monthly repayment instalments.

Pay weekly loans for bad credit

Whether you’d like to repay your loan in weekly or monthly instalments, you should consider that a loan is a serious financial commitment. If you have poor credit history, you should think very carefully before applying for one.
While it’s not impossible to get a loan when you have poor credit, you might find that your options are somewhat limited. If you are offered a loan with bad credit, you could be offered a higher rate of interest.

Will a pay weekly loan affect my credit score?

All loans will have an impact on your credit score.
If you make your repayments on time and clear the balance of your loan before the term comes to an end, you might see an improvement in your credit score, providing that you have also managed any other existing credit commitments.

On the other hand, making late repayments or missing them altogether will result in a decline to your credit score. You could also be charged additional fees.

Pay weekly loans with no credit check

In line with responsible lending and guidance set by the Financial Conduct Authority (FCA), companies offering loans must carry out an affordability check as part of their decision-making process. This is to ensure fair lending and provide a level of protection for the borrower.
You should be very wary of any company claiming to offer no credit check loans.

Before you apply for a loan, you can check to see whether a company appears on the FCA register.
For your peace of mind, Cashflex, and all the lenders on our panel, are authorised and regulated by the FCA.

Can I search for a pay weekly loan with Cashflex?

Cashflex is a credit broker, working with a large, trusted panel of lenders offering personal loans from £100 to £10,000 with repayment terms between 3 and 60 months.
The lenders on our panel require borrowers to repay their loans in monthly instalments. They do not offer the option of repaying loans on a weekly basis.

Can I search for a monthly instalment loan with Cashflex?

You can search for a pay monthly loan with Cashflex if you meet the eligibility criteria.
You must:

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

Worried that your poor credit history might hold you back? Several of the lenders on the Cashflex panel are willing to consider applications from people with bad credit.

Check your eligibility for a pay monthly loan before you apply

Use our FastCheck tool to reveal your chances of approval before you make a full application, with no impact to your credit score.*

*Cashflex uses soft search technology with no impact to your credit score. However, if you’re matched with a loan and choose to make a full application directly with the lender, you’ll undergo a hard search by that company. A hard search will remain on your credit file for up to 12 months, and multiple hard searches within a short period of time could have a negative effect on your credit score.

I’ve taken out a loan but can no longer afford my repayments; what can I do?

We’re sorry to hear that you’re in this position, and we understand how frightening this may feel. Please try not to panic.
Your first port of call should be your lender. Whatever you’re going through, they will listen to your situation and share any options that may be available to help ease the pressure.

Worried about money?

Money worries can happen to anyone, and you have nothing to feel ashamed of.
Sometimes, it helps just to share your concerns with an impartial ear. Free, confidential advice can be accessed through a range of charities and organisations, such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.