Payday Loans

• Soft credit check only, won’t affect your score
• No fees from Sunny
• Compare offers before you commit
• 15-minute funding if approved

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

What Are Payday Loans?

Payday loans were originally designed as short-term loans to cover unexpected costs until your next payday, typically with a 30-day repayment period. Whilst traditional payday loans still exist, many borrowers now seek more flexible alternatives that don’t require full repayment in a single month.

At Sunny, we specialise in finding you flexible payday loan alternatives from our network of FCA-authorised lenders. Rather than forcing you into a rigid 30-day cycle, our partner lenders offer repayment terms from 3 to 36 months. This means you can spread the cost of borrowing over a period that actually works for your budget.

These loans are designed for real-life situations where you need money quickly but want the breathing room to repay comfortably. Common uses include:

• Emergency car repairs to get back on the road
• Unexpected household expenses like a broken boiler or washing machine
• Urgent veterinary bills for a sick pet
• Covering costs between paydays when money is tight

You can borrow from £100 to £2,500 depending on your circumstances and affordability. If you need a smaller amount for a specific purpose, our partner lenders also offer small loans starting from £100, preventing you from borrowing more than necessary.

How Payday Loans Through Sunny Work

Getting matched with a suitable lender through Sunny takes minutes, not hours. Here’s the straightforward process:

Step 1: Tell us what you need. Complete our simple online form in around 2 minutes. We’ll ask about the amount you need, your preferred repayment term, and basic details about your income and expenses.

Step 2: We search multiple lenders for you. Our system instantly searches our panel of FCA-authorised lenders to find those most likely to approve your application. We use a soft credit check at this stage, which means no impact on your credit score and no mark on your credit file visible to other lenders.

Step 3: Compare your options. Within minutes, you’ll see which lenders have matched with you. You can compare interest rates, monthly repayments, and total costs before deciding. There’s no pressure and no obligation to accept any offer.

Step 4: Choose and apply directly to your preferred lender. Once you’ve found the right match, you apply directly to that lender. They’ll complete a full credit check at this stage and verify your details.

Step 5: Receive your funds. If approved, most lenders can transfer money to your account within 15 minutes. Many process applications 24/7, so you can get help even outside traditional banking hours.

You remain in complete control throughout the process. You’re never locked in until you actively choose to accept a lender’s offer.

How Much Do Payday Loans Cost?

The cost of a payday loan depends on how much you borrow, how long you borrow for, and your personal circumstances. At Sunny, our representative APR is 89%, though rates across our lender panel range from 9.3% to 1,721% depending on individual factors.

Representative example: If you borrow £1,000 over 18 months at a fixed rate of 89% APR, you’d make 18 monthly payments of £102.42. The total amount repayable would be £1,843.60, which includes £843.60 in interest.

Rates vary based on several factors, including your credit history, income, existing financial commitments, and the loan term you choose. Generally, shorter terms mean higher monthly payments but lower total interest, whilst longer terms spread the cost but increase the total amount you’ll repay.

All our partner lenders are bound by FCA interest rate caps and responsible lending standards, which means you’re protected from unfair charges. If you find you can pay off your loan early, there are no early repayment penalties, saving you interest.

Many customers find that spreading repayments over 6 months offers a good balance between manageable monthly payments and reasonable total interest costs.

Who Can Apply for Payday Loans?

To apply for a payday loan through Sunny, you’ll need to meet these basic eligibility requirements:

• Be at least 18 years old. All borrowers must be legal adults.
• Be a UK resident. You need a permanent UK address with at least 3 years of address history.
• Have regular income of at least £500 per month. This can be from employment, self-employment, or certain benefits.
• Have a UK bank account and debit card. Lenders need somewhere to transfer your loan and collect repayments.
• Not currently be bankrupt or in an Individual Voluntary Arrangement (IVA).

What about your credit history? Past credit issues don’t automatically disqualify you. Many of our partner lenders specialise in helping people with less-than-perfect credit histories. They look at your current situation and affordability, not just your credit score. If you’re concerned about past credit problems, our bad credit loans page explains more about how lenders assess applications from people with varied credit histories.

That said, lenders have a responsibility to lend fairly. If they determine that you can’t afford the repayments based on your income and expenses, they’ll decline the application to protect you from unmanageable debt. This isn’t a rejection of you as a person, it’s responsible lending in action.

Why Use a Broker Like Sunny for Payday Loans?

When you apply directly to a single lender, you’re limited to whatever that lender offers. If they decline you, you need to start again elsewhere, potentially racking up multiple credit checks on your file. Using a broker like Sunny changes the game entirely.

One application, multiple lenders. Instead of filling out separate applications for different lenders, you tell us once what you need. We search our entire panel of FCA-authorised lenders simultaneously, showing you all your options in one place.

Soft credit check first. We use a soft search to check your eligibility, which doesn’t affect your credit score. Only when you actually apply to a specific lender does a full credit check happen. This protects your credit file from unnecessary marks.

Absolutely no fees from Sunny. Some brokers charge application fees or service charges. We don’t. Our service is completely free to you. Lenders pay us a referral fee if you accept their loan, but that doesn’t increase the cost to you.

Save time and reduce stress. Rather than researching dozens of lenders, reading terms and conditions, and making multiple applications, we streamline everything into one simple process. You see only lenders likely to approve you, saving time and disappointment.

FCA protection across all lenders. Every lender in our panel is authorised and regulated by the Financial Conduct Authority. This means they all follow the same strict rules on fair treatment, affordability checks, and interest rate caps.

If speed is your priority alongside flexibility, many customers also explore our same day loans, which can deliver funds within 15 minutes of approval whilst still offering flexible repayment terms.

Flexible Alternatives to Traditional Payday Loans

Traditional payday loans demand full repayment plus interest within 30 days, often coinciding with your next payday. For many people, this creates a pressure-cooker situation where finding several hundred pounds in a single month feels impossible. Miss the payment, and you face additional charges and damage to your credit file.

Sunny takes a different approach. We connect you with lenders offering flexible repayment terms from 3 to 36 months, giving you breathing room to repay comfortably without the 30-day deadline hanging over you.

Example: £500 emergency expense

Traditional payday loan: Borrow £500, repay around £625 in 30 days. That’s a £625 hit to your finances in a single month.

Sunny’s flexible approach: Borrow £500, repay over 6 months at around £100 per month. Same emergency covered, but spread affordably over half a year rather than squeezed into 30 days.

This flexibility means you can choose a repayment schedule that genuinely fits your budget. If you can afford higher monthly payments to clear the loan quickly, shorter terms like 3 months minimise total interest. If you need lower monthly payments, longer terms spread the cost more thinly.

The key difference is choice. Traditional payday loans offer one option: pay everything back next month or face consequences. Our approach gives you control over your repayment timeline, reducing financial stress whilst still providing the quick access to funds you need.

Many customers appreciate this flexibility when dealing with larger unexpected costs. A £1,000 car repair feels more manageable when you can spread it over 12 months at around £120 per month rather than scrambling to find £1,250 in a single payment cycle.

Important: Whilst flexible terms make monthly payments more manageable, longer repayment periods do increase the total amount of interest you’ll pay over the life of the loan. Always compare the total repayable amount, not just the monthly payment, when choosing your term.

Check your eligibility now

• Over 1 million customers served since 2022
• 4.5 out of 5 stars on Trustpilot
• 7,500+ daily quotes processed
• All lenders FCA-authorised and regulated
• No fees from Sunny, ever
• Soft credit check only until you accept an offer

What to Consider Before Applying

Borrowing money is a serious decision that affects your finances, so it’s worth thinking carefully before applying. Here are key considerations:

Only borrow what you actually need. It’s tempting to borrow a round number or take the maximum available, but every extra pound you borrow costs you interest. If you need £800 for a specific expense, borrow £800, not £1,000.

Can you genuinely afford the repayments? Look at your monthly income and expenses honestly. After rent, bills, food, and other essentials, do you have enough left to cover the loan repayment comfortably? Lenders will check affordability, but you know your financial situation best.

Consider all your options. Is borrowing the right choice? Could you wait and save up instead? Could family or friends help? Is there something you could sell? Borrowing should be for genuine needs, not wants that can wait.

Understand the total cost. Look beyond the monthly payment to the total amount repayable over the full term. That’s the real cost of your loan. Make sure you’re comfortable with that figure.

Have a repayment plan. Know where the money for your monthly payments will come from. Will it be from your salary? Do you need to adjust other spending to make room? Having a plan reduces the risk of missed payments.

If you’re already struggling with existing debt, borrowing more may not be the answer. Free debt advice is available from organisations like StepChange and Citizens Advice. They can help you understand your options and deal with financial difficulties without taking on additional debt.

How Sunny Protects You

Your safety and protection matter to us. Here’s how we ensure you’re dealing with trustworthy lenders in a secure environment:

FCA authorisation and regulation. Sunny (Upward Finance Limited, company number 11365247) operates as an Appointed Representative of Flux Funding Limited (FRN 806333), which is authorised and regulated by the Financial Conduct Authority. Every lender in our panel is also FCA-authorised, meaning they all follow strict rules designed to protect borrowers.

Interest rate caps. The FCA caps the total cost of high-cost short-term credit at 100% of the amount borrowed. This means you’ll never repay more than double what you borrowed, providing crucial protection against spiralling costs.

Secure application process. Your personal and financial information is encrypted and protected throughout the application process. We never share your details with anyone except lenders you choose to apply with, and only after you give explicit permission.

No impact on your credit score initially. Our soft credit check lets you see your options without any mark on your credit file. Only when you actively apply to a specific lender does a full credit check take place, and by that point you know you’re likely to be approved.

Right to withdraw. Under the Consumer Credit Act, you have 14 days to change your mind after accepting a loan. If you withdraw within this cooling-off period, you’ll only need to repay the amount borrowed plus interest for the days you had the money, with no other charges.

Transparent terms. Lenders must provide clear information about interest rates, fees, repayment schedules, and total costs before you commit. You’ll never sign up to hidden charges or surprise fees.

The Application Process

Applying through Sunny is designed to be straightforward and quick. Here’s what to expect:

Information you’ll need:

• Your full name, date of birth, and contact details
• Current address and 3 years of address history
• Employment details and monthly income
• Regular monthly expenses (rent/mortgage, bills, existing credit commitments)
• UK bank account details and debit card information

How long does it take? The initial application typically takes around 2 minutes to complete. You’ll get an instant decision showing which lenders have matched with you. If you choose to apply to a specific lender, their additional checks usually take between 15 minutes and 2 hours depending on when you apply and whether they need any additional information.

What happens after you apply? Once you submit your details, our system searches our lender panel using a soft credit check. Matched lenders appear in your dashboard where you can compare rates and terms. When you select a lender and apply, they’ll verify your details, complete a full credit check, and make their final decision. If approved, they’ll send you a credit agreement to sign electronically.

When will you get your money? Most lenders can transfer funds within 15 minutes of you accepting your loan agreement, though some may take a few hours. Transfers happen 24/7, so even applications submitted in the evening or at weekends can receive funding the same day. Your bank typically credits the money to your account within an hour, giving you access to emergency funds quickly when you need them most.

If you need money today for an urgent situation, our emergency loans page explains more about fast-track funding options available through our lender panel.

Find your match today

Why choose Sunny:

• Over 1 million customers served since 2022
• 4.5 out of 5 stars on Trustpilot
• 7,500+ daily quotes processed
• All lenders FCA-authorised and regulated
• No fees from Sunny, ever
• Soft credit check only until you accept an offer

Responsible Borrowing Reminder

Representative example: Borrowing £1,000 over 18 months at a fixed rate of 89% APR (Representative) means 18 monthly payments of £102.42. Total amount repayable: £1,843.60. Total interest: £843.60.

Important: Think carefully before securing other debts against your home or assets. Payday loans and short-term loans are unsecured, meaning your property isn’t at risk, but you must ensure you can afford the repayments.

Need debt help? Free, confidential advice is available from:

• StepChange – Free debt advice charity
• Citizens Advice – Free advice on debt and money
• National Debtline – Free confidential debt advice
• MoneyHelper – Free impartial money guidance

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