A cash-flow crisis is no laughing matter, as unexpected expenses can derail even the most careful budget. All it can take is one mishap before payday to throw your life in temporary disarray.

Fortunately, there is a clear and simple solution to this sort of crisis: short-term payday loans from Uncle Buck, which can help to spread an unexpected bill or expense over several months, smoothing out any large financial hurdles into several smaller, more affordable payments

Uncle Buck has been providing short-term payday loans online since 2004, which makes us the longest continuously trading online direct lender in the UK. In all our many successful years of providing loans, we’ve learned a thing or two about how to make things work for our customers. We provide access to finance at critical moments, but we always ask that this service is used responsibly.

With this in mind, we have put together nine important things to consider before applying for one of our short-term payday loans.

Do Your Homework

It goes without saying but doing your homework is number one on our list because it really is crucially important. It may seem obvious but it’s worth repeating: Always do your homework before you take out a short-term payday loan.

Loans come in different shapes and sizes, last for different periods of time, and can have a wide range of interest rates, plus additional charges and payments, particularly if repayments are not made on time. It’s important that you have a full grasp of the terms you are agreeing to before you take out the loan.

At Uncle Buck, one of the principles we value most highly is transparency and openness. We’re confident in the loans we offer, and we are not afraid of comparisons to other lenders. Don’t believe us? Then check out www.allthelenders.org.uk price comparison website. We make sure that all the details of our loans are as clear as possible including the total amount to repay.

Borrowing money is a serious business, so make sure you arrange your loan with a well-established and reputable provider and that you understand all the facts available to you.

Things to Look Out For

If you’ve got this far, then congratulations on achieving the first step and doing your homework. If you’re assessing the terms of short-term payday loans, then there are certain things you should look out for:

Terms and Conditions.

The crucial legal terms of your loan. You should always read and consider the terms and conditions to make sure you understand all aspects of the loan – such as what might happen in the event you cannot repay what you have borrowed.

What are interest rates and how are they calculated?

Interest rates are the percentages that are charged by the lender on the amount you borrow. This will mean that the sum you pay back will be higher than the amount you borrow, as you will also be making the interest payment.

What is a ‘fixed’ rate and what is variable APR?

A ‘fixed’ rate of interest means that the rate will not change for the duration of the loan. Some longer-term loans, such as mortgages, have ‘variable’ rates, that can go up or down along with the economy. Fixed rate loans remain at the agreed rate for the agreed duration. APR stands for ‘Annual Percentage Rate’. It is a calculation based on the annual cost of the credit, including any potential fees as well as interest.

If you borrow £250 over 4 months, you will repay 3 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.

Representative Example

    • Loan Amount (for 4 months): £250
    • Three Repayments of: £94.71
    • One Final Repayment of: £91.19
    • Total Repayment: £375.32
    • Interest Rate: 292% pa (fixed)
    • Representative: 1249.0% APR

Some longer-term loans, such as mortgages, have ‘variable’ rates, that can go up or down along with the economy. Fixed rate loans remain at the agreed rate for the agreed duration. APR stands for ‘Annual Percentage Rate’. It is a calculation based on the annual cost of the credit, including any potential fees as well as interest.

Be Informed

Decisions process.

The decisions process for a short-term payday loan will be made as quickly as possible, and will involve an array of automated credit, bank and employment checks to ascertain your eligibility for a loan and your ability to meet the repayments as they fall due. Once a loan is approved, a funds transfer can be initiated within 15 minutes, or, if it is after 11pm, it will take place the following day from 6am.

Repayment options.

Customers should always check the available repayment options, as there may be many options, but also potential charges, for early repayment. Always make sure you are aware of any hidden charges lurking within the small print.

Repayment schedules.

Always look at the timescales. Customers should always have a review and consider their own budget to make sure they can meet the repayments comfortably without having a negative impact on their wider situation before proceeding with the application.

At Uncle Buck, we make a point of being clear and upfront with our costs and charges in advance of you receiving your consumer credit agreement, but not all lenders are the same.

Short-term payday loans can be a useful tool to help bridge a cash-flow crisis, and should be used in this fashion.  Short-term payday loans are not suitable for longer term borrowing and there may be other types of credit available to you which may be cheaper.

Choose Clarity

No-one likes hidden charges, but we’ve probably all experienced them. From rip-off ‘booking fees’, to all the extra charges you can discover when you fly with a budget airline, the hidden extra charge is a bugbear for all consumers.

People want to know up-front exactly what the costs are, and exactly when they will need to pay them. Uncle Buck shows you exactly what you repay from the start, and (dependent on prompt repayment), this is all you should have to pay for the use of our short-term payday loan facility.

At Uncle Buck we pride ourselves on good customer service, and on being clear and transparent without any hidden extras. It has always been our policy to be as clear and concise as possible.

Direct Lender vs Broker

It’s always best to know exactly who you’re dealing with, especially when you are borrowing money. That’s why here at Uncle Buck, we believe it is much better to borrow money from a direct lender (like us) rather than to go to a broker.
When you apply for a short-term payday loan via a broker, they may approach several different lenders, all of whom could conduct hard searches on your credit history. All of this activity can leave a footprint and be damaging to your credit rating.

When you apply with a direct-lender such as Uncle Buck, there will only be one such search on your credit history, which will leave a lighter footprint and be kinder to your credit history, which is much better for your rating in the long term.

Responsible Use

Payday loans can be great when you need a quick injection of cash. They do not provide solutions for long-term financial problems, and you should never take out loans to pay off other loans, as you will be storing up problems for yourself.

Short-term payday loans are intended specifically as a tool for customers to bridge a short-term cash-flow crisis. They are a useful tool to occasionally smooth out the bumps between pay-days.
The aim of Uncle Buck is to provide a useful service that helps people solve the little problems in their life – not create more of them.


Just as Uncle Buck is up-front and honest about our charges and how we do business, we expect a certain level of honesty from our customers.

We need a fair assessment of your income and expenditure, your financial status and your ability to repay any loans. We don’t want to lend money to customers who are unable to repay their loans, or who will be placed in any difficulty by making their repayments.

This means we need our customers to make an honest application. Our vetting process involves computerised checks of customers’ credit history and banking checks to ascertain income levels, and we also check that our customers are employed, to ensure that they will be able to make repayments (it is a ‘payday’ loan after all.).

Ultimately, our vetting process is very thorough, so any dishonesty during the application process is likely to simply count against the customer, and likely result in a refusal. Being up-front, honest and transparent works both ways, for both lender and consumer.

Keeping in Touch

At Uncle Buck, we pride ourselves on the quality of our customer service, as you can see on our website from the high rating we have on our review page, and the overwhelming number of positive reviews we have from satisfied customers.

We make great efforts to be approachable, and to build a relationship with our customers. We place great stock in clear communication. Our call-centres are all UK based, and we ask our customers that should there be any change in their circumstance, they contact us immediately. Problems can be met with understanding and flexibility, as long as they are tackled quickly, openly and honestly. [Our responsive website also provides an in-depth Help & Support section to answer any questions you may have, including what to do and who to contact when things go wrong.]

The Risks & The Benefits

It’s important to remember that every borrowing decision you make should not be taken lightly. Regardless of the amount of credit and terms of borrowing, the benefits of taking out a short-term loan should always be considered alongside the risks associated with taking out that loan.

There may be other, more suitable, finance options available to you at cheaper rates. At Uncle Buck, we are committed to lending responsibly, which is why we would like to reiterate that our type of lending is suitable for short term use only and should not be used if you are in financial difficulty.

For more information around the risks and benefits associated around taking out a loan with Uncle Buck, click here.
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Applications Process

Perhaps you need a short-term payday loan now, or maybe you could have benefited from the facility in the past. Whichever it is, it’s good to know that Uncle Buck is here for you when you need us. Keep this information in reserve, so if the time comes you know we can help you out of a scrape – The process is simple and easy, so if you are ready to start your application, click here to apply online.

Representative 1249.0% APR

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