How Payday Loans Can Help With Your Mortgage

Cash till payday loans have become a popular way to subsidise income following the rise in living costs and a squeeze in wages.  It is harder than ever to make one wage last until the next payday and more and more people are starting to worry about cost of living and how they will make payments.  People are no longer purchasing luxuries like cars or holidays, they are now concentrating on paying for necessities only like utility bills, food bills and mortgages.  As the number of repossession on property has increased since 2011 by 10%, this is much easier said than done.

Cash till payday loans are short term loans for a period of between 15 and 31 days.  The amount that you can borrow can be anything from £50 to £1000 and the rates of APR vary per lender however £25 is a standard fixed charge to borrow a loan for one month only.  After this initial one month period, the rate of APR kicks in and increases month on month.  This amount is advised to the customer at the application stage of the loan.

If you only have a certain amount of money each month, you should always prioritise how you spend that money.  The most important thing is to be able to pay your utility bills, namely your mortgage.  Your mortgage repayments should be made on the same day of each month so it should be fairly straightforward to try and plan your finances to meet your mortgage payments.  If however you do find yourself short, do not fear as this is the situation which lends itself perfectly to getting a payday loan.

Payday loans are very quick and easy to apply for.  All you need to do is access a loan application online or via a retail outlet.  The loan application process should take no more ten minutes to complete and the lender should inform you within the hour whether or not your application has been accepted.  The cash deposit will then be made into your bank account within 24 hours, maximum.  Therefore you should be able to use payday loans to cover any shortfall of your mortgage repayments.

Cash till payday loans are perfect to be able to assist you with your mortgage repayments if you find that you are short on a particular month.  Be mindful that if you do not adhere to the terms and conditions of the payday loan, you could end up in very severe debt, therefore you must ensure that you use the payday loan for one month only.