My Financial Broker is a credit broker and not a lender. Warning: Late repayments can cause you serious money problems. For help, go to https://www.moneyhelper.org.uk/
Searching for the best short term lender can be time consuming and stressful. Your payday or instalment loan could be only two applications away - simply complete our online application, then create an account with your lender.
We only work with reputable lenders, so we know they are lending responsibly, and treat their customers fairly. We’ll search our panel of lenders to find the right loan for you, with the best interest rates.
We’re a broker not a lender, but we want to make sure that the loan is affordable. Even if you don’t have a perfect credit history, and have been unsuccessful with previous loan applications, we’ll do our best to help you get the funds you need.
We’re here to help you find the right lender. Our online application is simple, and you could have the funds you need within an hour of lender approval.*
Representative Example: On an assumed loan amount of £750 over 12 months. Rate of interest 191.2% (fixed). Total repayment amount £1726.68 and total interest is £976.68. 12 monthly payments of £143.89. My Financial Broker is a broker, not a lender*.
* As a broker, we are unable to ascertain exactly how many customers take out a loan or the lender’s rate of interest particular to that customer, therefore our calculation is based on the mean APR of our panel of lenders.
Here at My Financial Broker, we believe that everyone should have access to borrowing options, regardless of their credit history, and the company was created based on this fundamental principle. Over a number of years, we have built up our panel of lenders, to ensure that we can always offer the best rates when it comes to interest, and to provide a wider range of options for our customers.
We have over 25 years of combined experience in short term lending, and have seen many exciting developments in the financial industry during this time. As our business has grown, we have not only worked with regulating bodies to improve our processes, we have also strived to make our systems as streamlined as possible, allowing our customers to more easily access the funds they need. Our in-house development team have additionally worked hard to perfect the algorithms we use to match borrowers with lenders, so that you can get an instant loan decision.
We like to keep things simple. That’s why our application process should only take a few minutes to complete – we won’t ask endless unnecessary questions. You just need to provide a few personal details, information about your employment, your income and expenditure, as well as your bank details, and we can then put you in touch with the most suitable lender for you.
My Financial Broker was created as a result of personal experiences with finance. Our founders discovered that the process for taking out a short term loan was often convoluted, and could take hours. Some lenders even required you to confirm all your details over the phone, or send proof of income through the post, which further lengthened the process. We therefore decided to build a company that was based completely online, and would allow our customers to easily apply for credit, getting a decision in minutes.
Initially, we only worked with a few lenders, comparing their rates for our customers. But over time, we have built up our panel of lenders, allowing us to find a suitable lender for each individual.
Our application form has also been streamlined over the years, removing any non-essential questions, and integrating the form with our custom-built algorithm system that matches our customers with direct lenders. This has reduced the time it takes to complete the application process, and provides an instant on screen decision.
Moving forward, we hope to add even more lenders to our panel, and continue to grow as a business. We have already taken steps to offer our broker services internationally, and aim to continue on this trajectory. But no matter how much our business expands, we will always make sure that our service remains free for our customers, maintaining our policy of working on a commission basis with our lenders.
We only work with responsible lenders, who are fully authorised and regulated by the Financial Conduct Authority (FCA). This means that you can be certain that you’ll be treated fairly, and all details of the loan will be made clear to you before you sign the loan agreement. Short term lenders are required to inform you of the total amount repayable, the cost of each monthly repayment with an instalment loan, as well as the duration of the loan upfront. They also need to advise you of any fees or charges applicable. You can find out if a lender is regulated by checking the Financial Services Register.
New regulations implemented in 2015 also means that there is an interest cap on short term loans, and you will never have to repay more than twice what you borrowed, regardless of late payments.
Our lenders additionally understand that in most cases, you’ll need access to funds fast to cover an emergency expense. They therefore aim to pay out loans within an hour of approval. It should be noted though, that while most lenders will transfer the funds within 1 hour, some banks may need to hold funds for up to 3 days. For further information about clearing holds, please contact your bank.
My Financial Broker is a broker and does not lend money directly. We find appropriate lenders through our affiliate lending network, who will then make loan decisions. Unlike many other broker services, we do not charge our customers a brokerage fee.
The benefits of using a broker service include saving a great deal of time. Rather than making lots of separate applications with each lender individually, you can simply complete our short online application, and we can then put you in touch with a lender that is likely to approve your application with them. We’ll also compare interest rates for you, redirecting you to the lender offering the lowest interest rates for your situation.
Making lots of applications can also impact your chances of approval. If the lenders conduct full credit checks, this can leave a footprint on your credit file, and reduce the likelihood of an approved application. Applying through a broker service such as with My Financial Broker can therefore increase your chances of borrowing.
When you complete an application with us, your details go into our system which performs a series of checks which determines which of our lending partners is most likely to accept your application.
My Financial Broker does not charge customers a fee for using its broker services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement with a lender or broker following an introduction through this website.
This commission should not affect the amount payable by you to the lender or third party should you enter into a regulated credit agreement.