Welcome to VeryMerryLoans.com, we can help you borrow £100 - £2,000 from 3 - 12 months.

Loans for 3 - 12 months.

Short, simple and fast application process.

Decisions in minutes.

How much you need today?

When can you repay this loan?

1 Months

Borrowing: £1000

Representative APR: 1192%

Repayment By: 5.1.2016

Interest: £58.68


Total Repayment: £1058.68

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Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 12 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). We are a free licensed credit broker, not a lender.

Payday Brokers

Payday brokers are slightly different to payday loans lenders – while lenders are directly responsible for handing over the money, payday brokers don’t have direct contact with the cash. They are a useful ‘middle man’ for those looking to find the perfect payday loans for their circumstances.

What do payday brokers do?

Essentially, they ‘broker’ a deal between the borrower and the payday lender. In practice, this means that they are able to offer borrowers access to great loans and lenders access to responsible borrowers. Payday brokers have access to a vast amount of information that allows them to make the experience much easier for you, and for the lenders that you want to borrow from. They match the perfect loan to the person who really needs it.

New rules set out by the FCA

The loan brokering industry has come under a lot of criticism in recent years due to the hefty fees which are often not fully disclosed to clients. New regulations put in place by the FCA earlier this year aim to eliminate these issues.

  • They must clearly disclose to consumers that they are dealing with a broker and they must provide.
  • The full name of the firm.
  • A clear indication that there will be fees, what these fees will likely amount to and when they will be due.
  • Customers will have to sign a document stating they are fully aware of all of the above and wish to proceed Credit brokers must also make it clear they are not a lender in their advertisements.
  • Additionally, customers have 14 days to cancel any contracts signed online.

What to look for before working with a broker

It’s important to perform due diligence on your payday broker before committing to working with them. First of all, make sure you check that they do, in fact, have a license. As mentioned in the FCA regulations above, payday brokers must clearly disclose all of the requested info like name, address and the fees they will be charging. If they are unable or unwilling to do this you may be dealing with a less-than-reputable broker or worse, a scam.

What are the advantages of payday brokers?

1. Plenty of choice

One of the biggest advantages of working with a payday broker is the range of choice that you’ll have when it comes to selecting a payday loan that works for you. If you decide to shop direct with a single lender then you will be restricted to what that lender offers you. Using a broker means you can see a far wider spectrum of options and find payday loans that work for you.

2. Vetted lenders

The payday loans industry has received some bad press in the past because of lenders who have taken advantage of borrowers, overcharged them and generally not behaved very well. Working with payday brokers avoids the problems of lenders who aren’t following the new regulations that are designed to ensure that borrowers are safe. Brokers vet their lenders to ensure that they are industry compliant, as well as to ensure they are offering the best deals.

3. A faster process

Not all payday loans are the same and if you’re not sure what your options are, or you don’t know 100% what you’re looking for then it can be incredibly time consuming to research one payday lender after another. Working with payday brokers speeds up this process enormously as you can instantly see a range of options for payday loans that will help you to decide what you’re looking for, what your choices are, and which lender might be the best to work with. If you don’t want to waste time finding information then a broker is by far the best way to go.

4. The best deals

It’s very difficult to work out whether you’re getting the best deal if you’re looking at an individual payday lender but with a broker it’s obvious. Input your borrowing criteria – amount to borrow, how long you want to borrow for etc – and you’ll be able to see straight away which deal is the best one.

5. A better service

Payday brokers have to be competitive and that results in a better service for you, the consumer. Working with a broker not only means that you can get more information and receive your loan faster but you will have more choice too. Plus, you can rely on your personal data and rights being protected.

Very Merry Example

Loan Amount: £300
Loan Term: 3 months
Interest: £193.96
Total Repayable: £493.96 Apply

Representative APR: 1192%. (variable)
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.