£700 Loans Online
Finding the best £700 payday loan from a large panel of lenders, Payday UK are here to help.
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Our brokers lender partners offer a range of loans from £50 to £5000. There is also a range of repayment terms when you borrow £700. This means you can tailor your loan to suit your circumstances. Being realistic about the repayment you can afford will help you to make all the payments on time and improve your credit score.
UK residents aged 18 or over can apply. It doesn’t take long, and you’ll get an instant decision. A high percentage of applications are accepted, even those for people with bad credit. You need to have a valid bank account and debit card and have your wages paid directly into your bank account.
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Check Eligibility£700 Loans
When unexpected expenses hit that £700 mark, you need a solution that’s both quick and trustworthy. At PaydayUK, we’ve helped over 1 million customers since 2020 find the right loan through our industry-leading panel of FCA-regulated lenders. Whether it’s car repairs that can’t wait, an emergency boiler replacement, or urgent home maintenance, a 700 loan often provides exactly the right amount to cover substantial costs without over-borrowing.
We’re not a lender ourselves. We’re a credit broker, which means we search multiple FCA-authorised lenders to find you the best match for your circumstances. Our clever tech completes this search in minutes using a soft credit check that won’t affect your score.
With 4.7 out of 5 stars on Trustpilot from 6,281 reviews and 7,500+ daily quotes processed, we’re one of the UK’s most trusted loan comparison services. Getting a £700 loan through PaydayUK means you can compare offers from specialist lenders who understand that life throws curveballs.
Our entire service is completely free to you, with same-day funding available for approved applications. Most importantly, checking your eligibility with us leaves no mark on your credit file.
Why choose PaydayUK:
● Soft credit check only, won’t affect your score
● No fees from PaydayUK, ever
● Industry-leading panel of lenders
● Same-day funding if approved
What Are £700 Loans?
A 700 loan is a short-term personal loan for £700 that you repay over an agreed period, typically between 3 and 36 months. This amount sits in what many consider a sweet spot for emergency borrowing.
It’s substantial enough to handle genuine financial needs like replacing essential appliances, covering urgent repairs, or managing unexpected bills. Yet it remains manageable enough to avoid excessive debt.
Unlike smaller loans that might leave you short or larger loans that could lead to unnecessary borrowing, £700 loans provide precise financial support. You borrow exactly what you need, keeping your repayments affordable whilst addressing your immediate situation.
The typical uses include vehicle repairs (averaging £400-£900 for most issues), boiler replacements or repairs, essential home maintenance, veterinary emergencies, or covering the gap between bills and payday.
These loans work differently from traditional bank loans. Rather than waiting days or weeks for approval, modern 700 pound loans through broker services like PaydayUK offer decisions within minutes.
The application process happens entirely online, funds typically arrive the same day if approved, and you’ll know your eligibility before any credit check affects your score. Because we work with multiple lenders, you’re not limited to one company’s decision.
If you’re concerned about past credit difficulties, our panel includes specialists in bad credit loans who assess your current affordability rather than focusing solely on credit history.
How £700 Loans Work Through PaydayUK
Getting a £700 loan through PaydayUK follows a straightforward five-step process designed to be quick, transparent, and stress-free.
Step 1: Complete our secure online application. You’ll provide basic details including how much you want to borrow (£700), your preferred repayment term (typically 3, 6, or 12 months), and essential personal information like your income and employment status. The form takes about 2 minutes to complete on any device.
Step 2: We search our lender panel instantly. Our technology immediately searches our industry-leading panel of FCA-regulated lenders. This happens in seconds using a soft credit check that’s visible only to you and doesn’t impact your credit score.
Step 3: Review your matched offers. If lenders are interested in your application, you’ll see their offers displayed clearly with the total repayable amount, monthly payment, interest rate, and loan term. You can compare these side-by-side to choose the option that works best for your budget.
Step 4: Choose and proceed (or walk away). There’s absolutely no obligation to accept any offer. If you find an option that suits you, clicking through takes you to that lender’s website where they’ll complete a full credit check and affordability assessment.
Step 5: Receive your funds. Once the lender approves your application and you’ve signed the loan agreement, funds are typically transferred the same business day. Most customers receive money within hours, though exact timing depends on your bank’s processing speed.
Throughout this process, you remain in control. You choose whether to proceed, which lender to select, and what repayment term works for your circumstances.
For shorter repayment periods, you might consider a 3 month loan to clear the debt quickly, though this results in higher monthly payments.
How Much Does a £700 Loan Cost?
Understanding the true cost of your 700 loan matters more than just looking at the APR figure. Let’s break down exactly what you’ll pay using PaydayUK’s representative example with our representative 91% APR.
Representative Example
● Amount borrowed: £700
● Loan term: 6 months
● Monthly payment: £134.51
● Total amount repayable: £807.06
● Total interest charged: £107.06
● Interest rate: 91% per annum (fixed)
● Representative APR: 91%
This example shows you’d pay back £807.06 over six monthly instalments of £134.51. The total interest of £107.06 represents the cost of borrowing £700 for six months.
Whilst the APR appears high at 91%, remember this is an annualised rate applied to a short-term loan. The actual cost is £107.06 for six months of borrowing.
Why APR Rates Vary
Your actual rate depends on several factors. Different lenders in our panel offer rates ranging from 9.3% to 1,721% APR depending on your circumstances, credit history, and the loan term you choose.
Customers with stronger credit profiles typically receive lower rates. Those with past credit difficulties may see higher rates reflecting increased lending risk.
The loan term significantly impacts your total cost. A shorter 3-month term means higher monthly payments (around £245) but less total interest (approximately £35). A longer 12-month term reduces monthly payments to around £70 but increases total interest to roughly £140.
FCA Interest Rate Caps
All lenders in our panel follow FCA interest rate caps that protect borrowers:
● Maximum 0.8% interest per day on the outstanding balance
● Maximum £15 default fee if you miss a payment
● Total cost cap of 100% means you never repay more than double what you borrowed
For a £700 loan, you’ll never pay more than £1,400 total under any circumstances. For maximum affordability with lower monthly payments, many customers opt for a 12 month loan to spread the cost further.
Who Can Apply for £700 Loans?
Applying for a 700 loan requires meeting some basic eligibility criteria that protect both you and the lenders.
Basic Requirements
● Age: You must be at least 18 years old
● Residency: UK resident with a permanent UK address
● Income: Regular source of income (minimum £500-£800 monthly)
● Bank account: Active UK bank account with valid debit card
● Contact: Valid email address and UK mobile number
Credit Considerations
Whilst lenders will check your credit history, having past credit difficulties doesn’t automatically disqualify you. Our panel includes specialists who focus on your current affordability rather than past mistakes.
However, you can’t be currently bankrupt or in an active IVA (Individual Voluntary Arrangement). Regulations prevent lending to people in formal insolvency proceedings.
Most lenders prefer you’ve lived at your current address for at least three months. If you’ve recently moved, you’ll need to provide your previous address details.
It’s worth noting that being declined by one lender doesn’t mean all lenders will reject you. Different lenders have different lending criteria, risk appetites, and specialisms.
This is precisely why using a broker service benefits you. One application reaches multiple lenders, each assessing your application against their own criteria.
If you’re struggling with existing debts, contact MoneyHelper for free, impartial guidance before taking on additional borrowing.
Why Use a Broker Like PaydayUK?
Choosing to search for your £700 loan through a credit broker rather than applying directly to lenders offers several significant advantages.
● Multiple lenders, one application: Rather than filling out separate applications with different lenders (each potentially leaving marks on your credit file), you complete one application with us. Our technology then searches our entire panel simultaneously.
● Soft credit check protection: We use a soft credit check that’s only visible to you and doesn’t affect your credit score. The hard credit check only happens when you’ve chosen a lender and decided to proceed.
● Industry-leading panel access: We’ve partnered with numerous FCA-regulated lenders who specialise in different types of borrowing. Some focus on customers with excellent credit, others specialise in helping people with past difficulties.
● Time and effort savings: Using a broker condenses researching, applying, and comparing into one straightforward process taking minutes rather than hours or days.
● Increased approval chances: Because different lenders have different criteria, being declined by one doesn’t mean others will reject you.
● Completely free service: Using PaydayUK costs you absolutely nothing. We’re paid by lenders when you successfully take out a loan.
Every lender in our panel must be FCA-authorised and regulated. This ensures fair treatment, transparent pricing, and proper affordability assessments regardless of which lender you choose.
If you need to borrow without involving family or friends as guarantors, our panel includes lenders offering no guarantor loans where you can apply independently.
What to Consider Before Applying
Before you proceed with a £700 loan application, taking time to consider whether borrowing is your best option helps protect your financial wellbeing.
● Do you genuinely need to borrow? Consider whether this expense is truly urgent or could wait until you’ve saved the money.
● Can you afford the repayments? For £700 over 6 months at 91% APR, you’d pay approximately £134.51 monthly. Can your budget accommodate this alongside rent, utilities, and other commitments?
● Have you explored alternatives? Could you arrange a payment plan directly with whoever you owe money to? Could family or friends help with an interest-free loan?
● Do you understand the total cost? A 700 loan over 6 months at 91% APR costs £807.06 total. That’s £107.06 in interest.
Free Debt Support Resources
If you’re struggling financially, a loan may not always be the best option. These organisations provide free, confidential advice:
● MoneyHelper: moneyhelper.org.uk or 0800 138 7777
● StepChange: stepchange.org or 0800 138 1111
● Citizens Advice: citizensadvice.org.uk
How PaydayUK Protects You
When you search for a 700 loan through PaydayUK, multiple layers of protection ensure you’re treated fairly throughout the entire process.
● FCA authorisation: PaydayUK operates under firm reference number 921539 as an appointed representative of Flux Funding Limited (FRN 806333), authorised and regulated by the Financial Conduct Authority.
● Data protection: We’re registered with the Information Commissioner’s Office (ICO registration ZA654345) and handle your personal information according to strict UK data protection laws.
● Secure application: Your information is encrypted during transmission using bank-level security protocols.
● Credit score protection: Soft searches only during initial eligibility checking means no negative impact on your credit score.
● Right to withdraw: Under the Consumer Credit Act, you have a 14-day cooling-off period after signing a credit agreement.
PaydayUK never charges you any fees whatsoever. Our service is entirely free to customers. We’re paid by lenders when you successfully take out a loan.
Checking your eligibility creates absolutely no obligation. You can walk away at any point before signing a loan agreement with no pressure, no consequences, and no fees.
The Application Process
Applying for a 700 loan through PaydayUK is designed to be straightforward, quick, and transparent.
What You Will Need
● Personal details: Full name, date of birth, current address
● Contact information: Email address and UK mobile number
● Employment details: Employer name, job title, length of employment
● Bank details: Sort code and account number
● Monthly expenses: Rent/mortgage, utilities, existing credit commitments
Timeline
● Application: 2 minutes to complete our secure online form
● Matching: Instant search of our lender panel
● Decision: 2-5 minutes to see matched offers
● Funding: Same-day transfer available for approved applications
After You Apply
Once you submit your application, our technology immediately searches our lender panel using a soft credit check. Within minutes, you’ll see whether any lenders are interested in your application.
If you choose an offer, clicking through takes you to that lender’s website for a full application including hard credit check. The lender may ask for additional documentation like bank statements or proof of income.
If approved, you’ll receive a loan agreement to review and sign. Once you’ve signed and returned the agreement, the lender will typically transfer your £700 loan the same business day.
For more flexible repayment terms, some customers prefer instalment loans with structured payment schedules designed for predictable budgeting.
How it Works
We know you need your money as soon as possible. That’s why we have designed our website to be fast and simple.
Apply Online
Fill out our short, secure form and search an industry-leading panel of lenders to find your loan.
Check Your Offer
Once you have your offer from the lender, you can review the offer and get your cash.
Get Your Money
Once accepted, your money can often be paid into your account the same day.
Frequently Asked Questions About £700 Loans
A payday loan for £700 can help you keep everything in the black when things get tight. Many applicants opt for payday loans when suddenly faced with an unexpected bill. The term is flexible enough to ensure you can afford the repayments, but not so long that you’re saddled with debt for many years.
If your credit score is low, then Payday UK can still help. We specialise in providing access to loans to people who’ve had problems in the past. We don’t believe in punishing you for past mistakes. Your current situation is more important to us. Our brokers soft credit check won’t affect your credit rating when you apply.
Payday UK’s broker provides quick access to a panel of industry-leading direct lenders that are regulated by the FCA. Our broker will find the lowest rate on offer for you. If you accept the loan offer, the money usually will be in your bank on the same day.
No. When you apply through PaydayUK, we use soft search technology that’s only visible to you on your credit report. This type of search doesn’t affect your credit score and won’t be seen by other lenders.
Only if you decide to proceed with a specific lender and complete their full application will a hard search be conducted. At that point, you’ll already know they’re interested in lending to you.
If approved, most lenders transfer funds the same business day. Many customers receive money within hours of signing their loan agreement.
The exact timing depends on when you apply (applications approved after 3pm might not be funded until the next business day), your bank’s processing speed, and whether it’s a banking day.
You can use your 700 loan for any legal purpose. Common uses include car repairs, boiler replacements, essential appliance replacements, emergency dental treatment, veterinary bills, or covering unexpected bills when you’re short before payday.
We’d advise against using short-term loans to pay off other debts or for non-essential purchases that could wait until you’ve saved the money.
For a £700 loan at PaydayUK’s representative 91% APR over 6 months, you’d repay a total of £807.06 in 6 monthly payments of £134.51. This includes £107.06 in interest charges.
Your actual repayment amount depends on the interest rate you’re offered, the loan term you choose, and which lender you select. Always check the total repayable amount before accepting any loan offer.
The interest rate is the percentage charged on the amount you borrow. The APR (Annual Percentage Rate) includes the interest rate plus any mandatory fees, expressed as an annual rate.
For short-term loans like a 700 pound loan over 6 months, the APR looks high because it’s annualising a short-term cost. The representative 91% APR on £700 over 6 months translates to £107.06 in actual interest charges.
Most lenders in our panel allow early repayment, though policies vary. Some charge no early repayment fees, meaning you can clear your £700 loan ahead of schedule and save on interest.
Check the specific lender’s terms before accepting their offer. Early repayment always saves you money on interest charges.
Missing a payment has several consequences. You’ll be charged a late payment fee (capped at £15 by FCA regulations), additional interest accrues on the outstanding balance, and your credit score will be damaged.
If you know you’re going to struggle with a payment, contact your lender before the payment is due. They may be able to arrange a payment plan or adjust your schedule.
No. PaydayUK never charges any fees to customers. Our service is completely free to use. We’re paid by lenders when you successfully take out a loan.
If anyone claiming to represent PaydayUK asks you for payment, it’s a scam and should be reported immediately.
Yes, several alternatives might be worth considering. Credit unions often offer loans with lower interest rates. Some employers offer salary advance schemes.
Payment plans arranged directly with whoever you owe money to avoid interest charges entirely. 0% credit cards can provide interest-free borrowing if you’re eligible. Free debt advice organisations can help you explore options based on your specific circumstances.
Loan guides
These guides will help you find out more about the different types of loan and lenders available.
