Raising a family is expensive. Even if you’re already adept at managing your finances, ensuring the needs of your children are met usually means that most of your income is earmarked for essentials like food, clothing, utility bills, hobbies and educational tools – and that’s before you even consider occasional treats like days out or […]
Borrow up to £5000* for any purpose!
How It All Works
How do we help you find a loan? Find out more about the inner workings of our service:
Making an application with Cobra Payday Loans
The first step of course is to fill out our easy to understand application form. You will be asked to supply details such as
- Contact details
- Home address
- Details of your regular income
- Regular outgoings
It is very important you enter accurate information here so as not to jeopardise your chances of being given a loan offer.
Once submitted, what happens then?
This is where the magic happens, once you have submitted your application we forward it to be considered by our panel of 20+ lenders. Don’t worry, all these lenders are FCA authorised and at this stage no footprint is left on your credit record. We cut down the time it takes to find a loan, by querying a wide selection of lenders at once you substantially increase your chances of finding a lender willing to lend to you.
After a short wait you will be presented with the outcome on screen, we have an extremely high acceptance rate so if we find a lender that would like to offer you a loan you will be automatically redirected to their website to finalise your application. It goes without saying that you should check the lenders terms and conditions and loan terms before proceeding to accept the loan.
Accepting a loan offer
Should your application be successful and you have been redirected to the lenders website you will be presented with a loan agreement. Check over your agreement again to make sure all your details are correct and if you are happy you will be able to electronically sign to complete your application.
Some lenders may wish to further verify some details from time to time but they will make you aware of this before you are able to sign.
Getting your money
Once a lender has received your signed loan agreement then you funds will be sent to your nominated bank account, usually the same day. A lot of lenders utilise faster payments these days, if the lender you have taken a loan with uses this service then you could have the money in a matter of minutes. Though this does depend on if your bank accepts faster payments as well.
So how does Cobra Payday Loan make money?
For our customers we are a completely free to use service with no hidden fees or charges. But running a business such as this does cost money.
Upon a successfully funded loan the lender will pay us a commission. But worry not, this commission is just a cost of business for the lender, the cost of which will not be added to your loan.
Latest From Our Blog:
One of the best ways to make sure that you don’t have significant financial issues is to use a zero-based budget. This strategy can help you stay within your means and at the same time plan for future financial security. So, what is zero-based budgeting and how can you ensure that it works for you? […]
Job hunting is a challenge and it can sometimes feel overwhelming, especially in a rapidly changing market. You’ll be familiar with time-worn advice about keeping your CV up to date and being pro-active in your search, but in today’s climate, it’s more important than ever to have a clear strategy of how you’re going to […]