Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Uncle Buck Reviews

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Uncle Buck is a proud partner of My Financial Broker and is a direct provider of short term loans from £200 to £1,000. Founded in 2004, Uncle Buck is a FCA approved lender and has gained a reputation for being trustworthy and reliable.

Uncle Buck offer a flexible instalment product which is repaid over 4 to 6 months in instalments, with the option to repay early at any time. This is a viable alternative to payday loans, which would typically require you to borrow money and repay the full loan and interest on your next pay date. However, an Uncle Buck loan provides greater flexibility and breathing space.

All applications are completed online through their website and you will typically receive an instant decision on the screen upon completion. If successful, loans can usually be funded within 1 hour if it is between 7am to 7pm, otherwise they will be completed the next day.

Key Features

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Direct lender

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Borrow £200 to £1,000 (first time customers is £500 maximum)

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Repaid over 4 to 6 months

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Option to repay early

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Same day funding

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Online application

What is The Criteria For Uncle Buck?

To be eligible to apply with Uncle Buck, you must meet the following criteria: loans for bad credit and other credit histories. Our lenders are willing to take a view on different credit backgrounds and they understand that it is only normal to miss the odd payment – but this should not affect your chances of getting access to finance forever.

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18 or over

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Employed and earning a regular income

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Employed and residing full-time in the UK

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Your salary is paid directly into your bank account

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Valid debit card for this account

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Valid email and mobile phone number

How Much Can I Borrow from Uncle Buck?

If you are looking to apply with Uncle Buck, you can borrow between £200 to £1,000 and the maximum borrowing facility for first-time customers is up to £500. However, once you have repaid your first loan on time and have improved your trust rating with the lender, you may borrow up to £1,000, provided that your financial position is not worse off.

Other factors that will impact the amount you can borrow will include your credit score and whether you have poor, fair or good credit ratings – see bad credit loans for more information. Also, your monthly income and expenses will be taken into consideration by the lender to determine how much you can afford to borrow and repay each month.

How Do Repayments Work with Uncle Buck?

Uncle Buck loan repayments are made over 4 to 6 months and are scheduled on a repayment date that you select. Most customers will choose the last working day of the month, which is when they will typically receive their salary from work. For some borrowers this may fall on the 25th of the month, a specific date or on a four-weekly cycle.

Representative Example: Borrow £250 over 4 months with three repayments of £94.71 and a final repayment of £91.19 totalling £375.32. The interest rate is 292% pa (fixed). Representative 1249.0% APR.

Your payments are collected via a process known as continuous payment authority, which is used by most lenders in the UK. It is a way of creating recurring payments, so when your repayment is due at the end of the month, it will automatically be collected by Uncle Buck and there is no need to phone up or make a manual repayment. You always have the opportunity to pause this recurring payment and change the scheduled date if you wish to - you simply need to contact them directly.

Is Uncle Buck Safe?

Yes, Uncle Buck is a safe lender which is authorised by the Financial Conduct Authority with the reference number 673545. You can confirm their listing on the FCA register.

What to Consider Before Applying

What is The Loan Used For?

Short term loans from Uncle Buck are commonly used for emergency purposes such as paying off unexpected bills, broken boilers, home repairs or car repairs. The interest rate is higher than most personal loans so it should not be used to pay off other forms of debt.

How Much Do I Need To Borrow?

It is common for applicants to try borrow as much as possible, however, you will be required to repay the full amount and interest over the loan term – and may be better suited to a lower amount. It is important to budget carefully beforehand and think about how much you need to pay off your specific expense.

How Long Do I Need To Borrow For?

Uncle Buck allow you to borrow over 4 to 6 months, and whilst borrowing for longer can be useful to give you time to get back on your feet, the longer your loan is open, the more interest you will pay overall.

Based on an example of a £500 loan, the full repayment after 4 months is £824.99 and over 6 months is £985.02.

How Am I Going To Repay?

It is essential to think about how you are going to repay your loan. Most borrowers will use the income and salary they receive from work to pay off their loan. Using other forms of borrowing or loans to pay off your Uncle Buck loan is not sensible and may lead to a spiral of debt. High cost loans will may incur late fees for non-repayment, so outlining how you are going to repay your short term loan is vital.