MR LENDER REVIEW
The loans available at Mr Lender range from £10 to £750. In case you are a new customer, do not expect to receive more than £500 with your first loan. While most other payday lenders offer loans starting from £50 or £80, Mr Lender is useful when you only require a microloan.
They have a £30 flat rate fee that applies to every £100 borrowed. In addition, they charge a £7 admin fee from all the borrowers, so that the total cost of borrowing £100 comes in at £137. This means that Mr Lender is one of the most expensive lenders in the UK.
Their online application form is secure.
In case they receive the signed loan agreement before 5:00pm Mon-Fri, Mr Lender will have the funds transferred on the same day. There is no same day transfer fee.
Unlike many payday lenders, Mr Lender does not perform credit checks.
Their application process is faxless.
As for the eligibility criteria, all borrowers must be employed full-time and receive a regular salary. There appears to be no requirement concerning the size of one’s monthly income.
Mr Lender only lends to those who have an active debit card, they do not accept direct debit.
