How much do you need?
How long do you need for?
0 Day(s)
Interest : £0
Repayment : £0
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).

Welcome to Payday Mill

You can get assistance at Loans Mill to apply for and get short term cash loans from reputable lenders whenever you are hit by any financial emergency. Top of the line lenders from across the United Kingdom are associated with us. Make use of our comparison services to get matched with the appropriate lender. Please read below to know about the various implications of late payment, collection practices of lenders, renewal policies and interest charged.

Implications of Late/ Non-Payment

Short term loans such as small loans and payday loans are intended to provide you the extra cash you need to cover unexpected expenses. Ahead of applying for these loans it is important to consider the implications of late payment or non-payment. It is important to make sure that you will have the funds necessary to pay off the loan. If you do not make timely repayment lender will attempt to contact you to arrange for payment. If a lender fails to collect the debts, they will sell your debt to third party collection agencies.

Late and non payments of loan will also be reported to the credit bureaus and may impact your credit rating. As stated in the loan agreement of the lender, late fees and other penalties may apply as well. Eventually, it will make the loan cost you more over time.

Collection Practices

Short term loans are designed to fix quick unexpected cash crunches. They are meant for small needs and should never be applied to fix long term debts. Repayment needs to be done on time. Failure to which can get you trapped in unpleasant financial issues. Lender will sell your loan to third party collection agency if you have failed to make timely repayment. You will then start receiving collection calls and visits from the collection agencies.

To stay away from such hassles we advise you to plan the repayment right after you have applied for a loan. Borrow only the amount of cash you can afford to repay back. When dealing with the debt collector, make sure you have read the OFT's guidance. Every debt collection agencies are bound to legal codes and regulations. They should be licensed to pursue debt in your area.

Customer facing debt collection should first verify the debt and contact the lending company if they find any dispute. All necessary proof confirming that you owe the money should be provided by the lending company. The collection company have no right to threaten or take action against you that is prohibited by law. Customer should keep a record of ever collection call received. Contact a debt collection attorney if any law is found to be violated.

Non Payment Implications

The loan offer that we can help you find from our website is provided for a short duration and needs to be repaid back within a short term of 15 to 30 days. Lender will inform you about the repayment and confirm the amount that will be collected. The repayment amount will be automatically debited on the specified repayment date. If for any reason you fail to repay back, your account will be moved into arrears and the credit reference agency will be informed about it immediately. You will also be charged with extra fee and penalties. It will have adverse effect on your credit status and it will also be noted on your credit report. All these can make it difficult for you to obtain credit in the future. Therefore, to maintain a healthy credit rating it is important to make timely repayments.

Loan Renewal Policy

Not all lenders can offer loan extensions. The renewal policies vary among lenders as well and depend on where you reside. Contact your lender if you wish to renew your loan. The rate of interest and fee charged will depend on for how long you extend the loan term. Depending on the lender you choose, loan renewal could be automatic in the event of non-payment of the borrowed amount. You may have the opportunity to renew the loan deal but the original loan amount will continue to gain interest. You should remember that loan renewal can put you in serious debt.

Fees and Interest

In the United Kingdom, approval against a short term loan can provide you up to £1000 that should be repaid back within a month. The typical annual percentage rate for such loans can be 1,000% APR or more. Thus, a short term loan in UK can cost you as much as £25 for every £100 borrowed. Besides, the loan provider will charge you a fee for the loan. So, ahead of entering into a loan agreement check the fee and interest carefully to understand how much a loan is going to cost you.

We Are A Broker, Not A Lender

The operator of this website is not a lender and does not make credit decisions. The information you provide will be used in securing you a payday loan through our UK network of leading Payday Loan Lenders and Brokers. The personal, financial and employment information that we collect is stored electronically for the duration of your application and is removed from our system upon acceptance from a lender.

We expect you to repay your loan on the date agreed, so if you do not think you are in a position to make your repayments please do not apply with us in the first place. It is not worth risking your credit rating nor any financial consequences which might result.

Payday Loans are classified by the Financial Conduct Authority as High Risk Financial Instruments and are typically subject to higher rates of interest than those charged by 'high-street commercial lenders'.

Please note that payday loans are meant to be used for short term financial emergencies and are not designed to provide long term solutions.

Any queries or complaints regarding our service should be addressed in writing to this address.

Pervasive Web Solutions is authorised and regulated by the Financial Conduct Authority to carry out Credit Broking: Authorisation Number FRN740122
Authorisation can be checked on the Financial Service Register at


Site owned & operated by
Pervasive Web Solutions
Room G49, Lakeside House, 1 Furzeground Way,
Stockley Park, Uxbridge, Middlesex, UB11 1BD

Authorised and regulated by the Financial Conduct Authority.
Authorisation can be checked on the Financial Service Register at
Credit Broking: Authorisation Number FRN740122
Data Protection Reg No: ZA123718

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