Best Short Term Loans UK: Review 1 of 16: Sunny Pay Day Loans

This post is Part 1of the 16 Part Mini Series reviewing the best short term loans in the United Kingdom. I receive a lot of emails from the readers of Millionaires Giving Money Blog who want to know which payday company is the most reliable. After responding to a handful of these emails I decided to review all the best short term loan companies in the UK. Before you take out a pay day loan it is important to realise that late repayments can cause serious problems. If you do miss a payment your loan will be automatically extended and will cost you more in late charges and extended term interest payments. Late payments also have an adverse impact on your credit score which will ultimately affect your credit file and ability to take out more credit. You should also realise that failure to conclude the payday loan may result in collection action. So without further ado here are the best short term loans you can get in the UK.

Review 1: Best Short Term Loans UK – Sunny.co.uk

Sunny.co.uk is a UK based Pay Day loan company offering short term lending solutions to borrowers. Sunny claims to be one of the best companies for short term loans in the UK because they have simple and clear pricing, flexible repayment options and provide credit 24 hours per day.

Sunny also offer regular customers lower rates if you build up a reputation for paying on time and in full without the need to extend the loan. Sunny prides itself on their commitment of Good Today, Better Tomorrow with their Sunny Rates.

Sunny.co.uk is also the first short term loans company in the UK to offer financial health videos and tools to help their customers manage their money more effectively. You can also take part in some simple mini quizzes to earn extra points which can be used to apply for lower rates.

Sunny.co.uk is fully licenses and regulated in the UK. Sunny.co.uk are also a member of the main regulatory organisations in the UK which include the CFA (Consumer Finance Association).

Example of Sunny.co.uk Rates

Sunny.co.uk offers a representative APR of 1,971% as of writing this review. You can borrow anything between £100 and £1000 for a maximum term of 5 months. Suppose you were to borrow £100 over 28 days you would repay a total of £127.06.

The representative APR is worked out at 1,971%. When you borrow £350 over 12 months at a rate of 348% per annum you will repay twelve monthly payments of £105.65 per month and £1267.80 in total throughout the year.

Best Short Term Loans in the UK

Sunny.co.uk is fast becoming one of the best short term loan companies in the UK. The clear and simple pricing and an emphasis on helping its customers is becoming the reason why most people are now using Sunny.co.uk for their short term loans in the UK. The Sunny Flexible Rates which offer better rates to regular borrowers is becoming very popular and most short term payday loans in the UK are likely to follow suit. In my opinion Sunny is a great company to borrow from because they reward their customers with competitive and then lower rates.