When searching for loans or financial products to help cover our short term cash issues, we all want to find the best deals possible and cheap loans in the UK. It is only human to want to save money where possible, so it is understandable that you may look for cheap loans online during your search. At QuidMarket, we offer short term loans from £300 to £600 for new customers, and repayment terms of up to 6 months. Because our loans are designed to offer emergency funds when you need them, they won’t always be the cheapest option available, but we will always ensure that they’re sustainably affordable for our customers.

  • No guarantor required
  • QuidMarket is an FCA Authorised responsible lender
  • New customers can borrow between £300 and £600*
  • Returning customers may be eligible to borrow up to £1,500*
  • Flexible repayment terms between 3-6 months
  • No hidden fees
  • Bad credit applications considered
  • Quick and easy applications
  • Decisions made personally by humans, not computers

*Loan amounts and repayment terms are dependent on affordability checks

To help you make an informed choice about which loan is best for you, we will be discussing cheap loans, how you can find cheap loans in the UK, and available alternatives that could help you to save money. Hopefully, we can help you to make an educated choice about whether loans are the best option for your needs, and guide you to find the best cheap loans.

How much do you need?

£500.00
£300 £1500

For how long?

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Month 1

£

Month 2

£

Month 3

£

Month 4

£

Month 5

£

Month 6

£

This is for illustration purposes only. Your repayment schedule will be confirmed during your application

*All applications are subject to affordability checks*

Representative example: Borrow £300 for 3 months / Interest payable £154.37 / Total amount payable: £454.37 in 3 instalments / 3 payments of £151.46 / Representative 1301% APR / Interest rate 292% per annum (fixed) / Maximum APR 1625.5%

Compare short term loans on Clear and Fair

As a new customer the minimum repayment period is 3 months and the maximum is 6 months. Additional options may be available to you as a repeat customer.

What Are Cheap Affordable Loans?

Everyone has a different idea about what is cheap or affordable, but essentially, the affordability of a loan is determined by its interest or APR rate. These are the defining factors when it comes to the monthly repayments, so by finding loans that offer competitive interest rates or low APRs, you may be able to reap the benefits of cheap loans online.

At QuidMarket, we offer high interest loans for short term cash flow issues, so they may not meet every budget. They are short term payday advance loan alternatives with repayment terms of 3 to 6 months, and designed to cover emergency costs. However, we do offer a flexible approach to the application process. By following our online application form, you will be able to choose the amount of money you need and the repayment term to suit your budget. You will be able to see the full amount that will need to be repaid, with the monthly repayment plan explained to you in detail if you are approved.

How Do You Find Cheap Loans?

There are lots of lenders available and many of them may claim to offer the best cheap loans, but there are a few things you can do to find deals that suit your needs.

Consider Your Requirements

Before you start searching for cheap loans online, you should determine how much money you need to borrow and how much time will need to pay it back. This will allow you to compare lenders with a clear idea of what you need from them. If you are new to financial products, you could use a tool on a comparison site that shows you cheap loans in the UK and does the calculations for you. This can be useful for seeing how much you would be repaying each month on your instalment loan.

Check Your Credit Score

The better your credit score is, the better chance you have of being offered a cheaper interest rate. You should aim to maintain your credit score as much as possible over the years, but if you find that it is less than perfect, there are several things you can do to make improvements. This includes:

  • Registering on the electoral roll
  • Updating your addresses on bills
  • Paying all bills and credit accounts on time
  • Leaving a considerable amount of time between credit applications
  • Avoiding moving house or changing jobs too often

By checking your credit score for free via ClearScore, Experian or Credit Karma, and taking small steps to improve it, you may see an increase in lenders offering you their cheaper loans. While there are options available for those with bad credit, you will typically be offered more expensive loans, so making improvements to your credit rating first is always wise.

Use Soft Searching

Applying for multiple forms of credit in a short space of time can impact your credit score, use soft searching instead to find cheap affordable loans. This will allow you to search for lenders without having to have a credit check, protecting your credit score. Whilst one application every so often will not cause much damage to your credit rating, the damage that multiple applications can have on your credit rating may make you less likely to be offered cheap loans in the UK.

Shop Around For Cheap Loans Online

Each lender will make a different decision when offering you a loan, so do not agree to the first loan you see. Shop around to see which loan and lender would suit you the most. While it may be easy to get caught up in the idea of the best cheap loans, it is worth remembering that loans are not just about rates. Look at other elements of loans, such as flexibility and transparency.

Alternatives To Loans

If you are struggling to find cheap loans online or find that your poor credit is resulting in high interest rates, you should seek a more affordable option. Here are some alternatives:

  • Personal Borrowing – if you have a temporary cash flow issue, borrowing emergency money from a family member or friend can help you to avoid paying more than necessary. Make sure that you put your agreement in writing, working out a budget and repayment plan to suit both parties.
  • Use Savings – if you have a considerable amount of savings, it may be worth considering using this option to cover your unexpected financial issues. By using your own savings, rather than searching for a high interest loan, you can pay for your emergency without worrying about having to pay back any interest.
  • Use A 0% Interest-Free Credit Card – you may be able to find a credit card that offers a 0% interest period, so if you can cover your cash issues and repay before the interest-free period ends, you can avoid paying any interest at all.
  • Borrow From A Credit Union – you will need to apply to a credit union before borrowing from them, but they offer their members an affordable way to borrow. There is a cap on how much interest they can charge – 3% a month or 42.6% a year APR across England, Scotland and Wales.

However you choose to cover your financial difficulties, it is essential that you make sure you can make the required payments. If you are worried about meeting the repayment terms on your loan, please seek support from organisations such as the Money Advice Service.


While the loans at QuidMarket may not be considered by all applicants as cheap loans in the UK, we offer loan terms of 3-6 months and tailor the repayment plan to suit your budget or needs. Our loans are designed to help applicants cover emergency situations or short term cash flow issues, so they should not be used for any long term financial problems. For more information, contact us and we will be happy to help.

Being able to prove your affordability is the best way to get a cheap loan if you have poor or bad credit. This is because as your crediting rating will be low, you’ll need to demonstrate the loan and terms you want can be maintained. At QuidMarket, if we cannot determine you can afford a loan, we will still need to decline your application. Even the cheapest loans can cause someone to fall into financial difficulty, and as responsible lenders, we need to ensure this doesn’t happen. If you have poor credit but your current finances mean you can afford it, there is a chance you could be approved for a cheap loan.

There are many different types of cheap loans, but they do not mean you will have no interest charge to pay. Typically, no-interest loans are sometimes offered by retailers when purchasing goods or services. When borrowing money for other purposes, such as to cover a short term emergency, there will be an interest charge. At QuidMarket, we provide high cost, short term loans so it is important to use our loan calculator to see how much the loan and terms you want will cost overall. You will be able to see how much the interest charge will be, and you can adjust the repayments to suit your affordability before proceeding with an application.

You are not required to provide a guarantor to apply for a cheap loan through us. Some lenders require those with bad credit to provide a guarantor, but we work differently and can welcome applicants from a range of credit backgrounds. You can apply as a sole applicant for a QuidMarket loan, and we will assess your application based on your current affordability. Please note, whilst we can accept no guarantor applications, this does not guarantee you will be approved for the loan amount and terms you request.

To be able to apply for a loan with us, you will need to be in employment and earning at least £1,300 per month. We are unable to accept applications from unemployed applicants. Please ensure before applying that you meet our eligibility requirements and can afford to maintain the repayments you request. You will also need to ensure you have a UK bank account with a valid debit card to apply, have a mobile phone number, and are between the ages of 23 and 65 years old.

Warning: Late repayment can cause you serious money problems. For help, visit: www.moneyhelper.org.uk