When you need money quickly to cover an urgent expense, the last thing you want is uncertainty. You have submitted your application, and now you are wondering: what actually happens next?
As a direct lender offering short term loans from £50 to £2,000, the entire loan process is handled online here at Fast Loan UK, and the journey from application to getting the money in your account can take as little as 20 minutes. In this guide, we’ll explain every step, so you know exactly what to expect after you apply.
Once you submit your application, our system picks it up straight away. The online form itself takes around five minutes to complete, and an automatic review begins immediately.
At the point of application, we carry out a soft search using Credit Reference Agencies (CRAs). This gives us an initial picture of your financial situation and helps us decide whether to proceed. Importantly, a soft search does not leave a mark on your credit file, so applying will not affect your credit score at this stage.
If your application passes the initial checks automatically, we aim to give you a decision in just a few minutes. This decision in principle means you are pre-approved, subject to further checks. If we do need any more information, a member of our Customer Support Team will contact you within 10 minutes to confirm your details and move your application forward.
Before a final decision is made, we carry out full credit and affordability checks to make sure the loan is right for you. If you are pre-approved at the soft search stage, a hard credit search will be run. This will be visible on your credit file for other lenders to see.
As part of the assessment, we consider your income, your ability to make repayments, and your overall financial circumstances. If we need additional information to help with a decision, we will be in touch, and this will only take a few minutes. You may be asked to provide documents such as payslips, bank statements, or a utility bill.
To be eligible, you must be a UK resident aged 18 or over, be in part-time or full-time employment with regular pay, and be able to provide bank account and debit card details.
If your application is approved, we will send you a loan link by text. This takes you through to your personalised loan agreement, which sets out the full terms, including the amount, repayment schedule, and total cost of borrowing.
Once you have read through your loan agreement, you will be asked to digitally sign it. You can do this on a mobile, tablet, or computer, whichever you prefer. There is no paperwork to print or post, and no branch visit required.
We recommend taking a moment to read the agreement carefully before signing. The repayment dates, instalment amounts, and interest charges will all be clearly set out. Only sign if you are confident you can meet the scheduled repayments.
After you digitally sign your loan agreement, we will transfer the money to your bank account. For the majority of our customers, the funds will arrive within 10 minutes of signing. In most situations, the whole process from initial application to having the money in your account takes around 20 minutes.
The transfer is made via Faster Payments. Most major banks support this, but if you bank with a building society or a bank that does not process Faster Payments, the transfer may take slightly longer. Be aware that some banks close their Faster Payments facility from 1 pm on Saturday, so applications submitted after that time may not be funded until Sunday morning.
We build your repayment schedule around your circumstances. You choose how long you want to borrow for and how many repayments you want to make. You can also choose to repay weekly, fortnightly, or monthly to match your needs.
New customers can borrow for up to 8 months (241 days), whilst returning trusted customers can borrow for up to 12 months (365 days).
Repayments are taken automatically from your bank account on your agreed repayment dates using a Continuous Payment Authority (CPA). We will always remind you at least three days before a payment is due. If you prefer to pay by bank transfer instead, you can do so using the details in your loan agreement.
If you need to shift a repayment date, you can request a change directly through your Customer Portal or by contacting our Customer Support Team.
We only charge interest for the days you borrow, and there are no application fees, no processing fees, and no late payment charges. There are no hidden fees at Fast Loan UK, and we provide transparency from the start. Default fees are capped at £15, and the total cost of your loan will never exceed 100% of the amount borrowed in line with FCA guidelines.
If you want to pay your loan off early, you can do so at any point. You will only be charged interest for the days you have borrowed, plus a £20 early settlement fee (subject to the cost of credit cap). Simply contact us and will provide you with your early settlement figure.
Our approach is all about responsible lending, ensuring the loan you apply for and receive is the right choice for you. We will never approve a loan that you cannot afford to sustain.
Representative Example: Borrow £300 for 6 months. 6 repayments of £84.58. Total amount payable £507.48. Interest rate: 138% pa (fixed). Representative APR: 835.85%
If your circumstances change at any point and you think you may struggle to repay, contact our Customer Support Team before the repayment due date. We can look to freeze interest and arrange an affordable repayment plan for customers experiencing genuine financial hardship.
Missing repayments without making contact with us can negatively affect your credit score and may lead to default and recovery costs. The important thing is to get in touch early, as we understand the unexpected can happen. Support is available, and we take our commitment to treating customers fairly seriously.
If you need independent advice, free support is available from Citizens Advice (0800 144 8848), National Debtline (0808 808 4000), Money Helper (0800 138 7777), and StepChange (0800 138 1111).
Once your loan is active, our team is available for anything related to your account. Whether you need to update your repayment date, make an early repayment, or talk through a change in circumstances, they are available by phone or message.
You can also manage your loan directly through your Customer Portal, where you can view your repayment schedule, make payments, and request changes. Our team at Fast Loan UK is focused on supporting you throughout your loan, not just at the point of application.
After you apply, we run a soft credit check immediately. If you pass the initial assessment, we’ll proceed with full affordability and credit checks. If approved, you will receive a loan link by text to review and digitally sign your agreement. If all goes well, the funds are typically transferred to you within 15 minutes of signing.
Our loan process is designed to move quickly. If everything runs smoothly, you could have the money in your account within 20 minutes of starting your application.
No, the entire Fast Loan UK loan process is handled online. You apply via our short online form, your agreement is sent to you by text link, and you sign it digitally on any device. There is nothing to print, post, or hand deliver at any stage.
Yes, Fast Loan UK is the trading name of JDB Enterprise Group Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 673907. You can verify this on the FCA Financial Services Register.
Now that you know exactly what the Fast Loan UK loan process involves, you can apply with confidence. The process is fully online, straightforward, and built around speed and transparency.
If you are ready to apply, or want to find out more about our different borrowing options, click apply now, or learn more About Fast Loan UK before you get started. For anything else, please contact us.
Warning: Late repayment can cause you serious money problems. For help, please visit Money Helper.
