Do Guaranteed Payday Loans Exist?

The Truth About Guaranteed Payday Loans

Have you gotten yourself into a sticky situation this month?

Maybe you were convinced that you were going to have enough money to pay for all your bills, but after a sudden boiler burst or a broken-down washing machine, you’ve been left counting the pennies.

We’ve all been there. Sometimes, life doesn’t go according to plan. That’s why loans exist to help you get out of a tight spot when you don’t have the emergency savings and extra funding that you need to overcome common financial problems. However, not all loans were created equal.

Traditional lending options like personal loans often demand high credit scores and complicated application processes. You might even find that trying to get a personal loan takes weeks, which isn’t ideal if you have to deal with an emergency right now. At the same time, there’s no guarantee that you’ll be approved for a typical loan if you don’t have the best credit rating.

Many people turn to payday loans in the hope that they can get money faster and without as much hassle. While payday loans do offer a lot of benefits, like easy applications and quick processing times, it’s worth noting that there’s no such thing as a guaranteed payday loan.

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Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).

Here’s everything you need to know about loans that seem to be “guaranteed”.

The Truth About Payday Loans and Guaranteed Lending

A payday loan is a form of short-term lending option, designed for people who need to borrow money quickly, before their next payday.

This kind of lending option is often very appealing for people in a range of different situations because payday loans are easy to get, even if you don’t have the best credit score. Because payday lenders are only giving you a small amount of money for a short period of time, they don’t take on nearly as much risk as a conventional lender. That means that they can look beyond your credit score and examine things like your affordability levels or current income instead.


If you’re a UK resident over the age of 18, and you’re employed with proof of regular income, then you have a very good chance of being accepted for a same day loan online. However, that doesn’t mean that your lending is guaranteed.

Although claiming to offer 100% approval rates might not seem malicious at first, it’s often a good idea to avoid working with lenders who seem to provide guaranteed loans. Generally, these lenders aren’t honest, and it’s difficult to know for certain whether you can trust them when you’re trying to borrow money.

Choosing a Reputable Lender

The good news is that because payday loans are so easy to apply and be approved for, it’s often easier than you’d think to find a reputable lender to give you the money that you need.

The first thing you need to know is that all payday lenders, just like standard banks and other loan providers, have minimum requirements that need to be met by the people borrowing money. For instance, some lenders will need you to have been in your current job for a certain amount of time. Other lenders will need you to be earning a certain monthly income to ensure that you can afford to repay back whatever you borrow.

When you’re looking for a reputable and trustworthy payday lender, it’s important to make sure that you avoid anyone who claims to offer guaranteed loans. These companies are trying to capture your attention by offering something that’s actually impossible – which is an obvious red flag. It’s also a good idea to check whether your lender has been registered with and approved by the FCA. The FCA or financial conduct authority is the group in the UK responsible for regulating all loan providers.

A legitimate lender in the payday loan environment will do everything they can to offer you the cash that you’re asking for, provided that you can afford to pay it back. However, they will have to conduct a credit check and affordability check to make sure that they’re making the right choice by giving you the money that you ask for.

So, what’s the easiest way to find the ultimate reputable lender?

While you can spend your time browsing through your options online and comparing lenders one by one, it’s much easier to have a professional broker do the hard work for you. Working with a broker like Boutell to get your payday loan ensures that you have not only the best chance of finding the right lender, but also a better chance of successfully getting a loan.

A Broker Will Simplify your Loan Application

Working with a broker like Boutell to get your payday loan is by far the easiest way to make sure that you’re dealing with a lender that you can trust. We only take your request for a loan to the lenders that are FCA approved and regulated, so you know that you’re borrowing money from a company that’s professional, and credible.

Additionally, when you hand your loan application process over to Boutell, you avoid the potentially credit-damaging process of comparing other lenders. Rather than having to complete various application forms and get fingerprints all over your credit file from lenders in the process, you can simply leave it to Boutell to find you the lender that you need.

easy way to get payday loanseasy way to get payday loans

We take your information and affordability check to lenders that are regulated and approved so that they can conduct a soft credit check on your file and determine whether you’re likely to be approved for a loan. The soft credit check that our lenders perform doesn’t leave any marks on your credit rating, and it doesn’t damage your credit score. Instead, it simply allows us to come back to you with a list of lenders that are 99% sure that they can approve your loan request.

Once again, no lender can give you a 100% guaranteed approval before performing a hard credit pull and checking a completed application. However, with Boutell, you can make sure that you’re not wasting your time with companies who aren’t incredibly likely to approve your request.

How We Compare

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    Why Use Us?

  • How much can I borrow?

    £100 – £5000

    No hidden fees

  • Over how long?

    1 – 36 months

    Flexible repayments

  • Can I apply with bad credit?


    Quick decision

  • How do I apply?


    Online fully SSL secured

  • When can I apply?


    Even on bank holidays

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Boosting your Chances of a Loan Approval

Payday loans are often some of the easiest loans to be approved for – even if you don’t have the best credit score. Lenders know that they’re taking on less risk with a payday loan, so they’re willing to be more flexible than standard banks would be with a personal loan or cash advance.

Of course, just like with any loan application, there are steps that you can take to improve your chances of a successful application even further. For instance, before you even start applying for loans with lenders, you could consider taking your details to a broker like Boutell and allowing us to do the hard work of finding a lender for you.

At the same time, while you should avoid any credit provider who claims to offer 100% guaranteed approval rates, you can always look for companies that have relatively high approval rates like 97% or 98%. Other ways to boost your chances of getting your loan include:

  • Double checking the eligibility requirements: Your chances of getting a loan from a payday provider are already pretty high. However, some companies have more eligibility requirements than others. Make sure that there aren’t any special guidelines in place that might stop you from getting your loan.
  • Making sure you fill out the application properly: Don’t rush through the application process because you want to get your money as quickly as possible. Make sure that you take your time and answer all the questions accurately.
  • Work on your credit score: Look for ways to improve your credit score quickly, like checking for any errors in your rating, and joining the electoral roll. Although your credit score won’t be the only thing that payday lenders check, it still matters.

Getting Your Payday Loan

No matter what you might have seen in your email inbox or following a Google search, there’s simply no such thing as an online loan in the UK that can be guaranteed before a lender has had a chance to check your credit score and your background. All lenders are required by the FCA to conduct a thorough check to make sure that it’s safe to provide the loans that their customers request.

However, there are ways that you can boost your chances of getting the money that you need. Working with a broker like Boutell will ensure that you can avoid wasting time on lenders who aren’t likely to approve you, thanks to soft credit checks. Additionally, making sure that you fill out your applications correctly, and opt for lenders with high approval ratings is always a good idea.

Find out if you can be approved for a payday loan today.

If I am accepted for a loan, how much can I borrow?

You can apply for a loan from £100 to £5,000. If you are approved you will receive an instant on screen decision. You may be offered a different amount to that which you originally requested due to your personal financial situation. However, you will be given the option as to whether or not to proceed with the application before committing.

I have bad credit – can I apply for a payday loan?

Yes, Boutell offers payday loans for both bad and poor credit. All we ask of our applicants is that you are over 18, are a UK citizen and have a regular income into a UK bank (current trương mục). You can apply via our online application in as little as 3 minutes and you will be told immediately if you’ve been approved.