Frequently Asked Questions

A short-term or payday loan is a loan that's intended to cover a borrower's expenses until his or her next payday. The lender usually charges a fixed fee per £100 borrowed and the loan is made until your next payday, regardless of when you apply.

You can apply 24 hours a day 7 days a week. Many of our lenders also work 7 days a week and can even deposit funds in your account at the weekend.

Complete our quick and easy online form and just click “Get Loan Quote”. If you are approved you will be transferred to the lender’s website to complete the process. Your lender may ask some additional questions not captured on our application form. You then sign your loan agreement online and receive your loan from your lender.

You can apply if you are: over 18 years of age, living in the UK (England, Scotland, Wales and Northern Ireland), in employment and receiving a regular salary paid into a valid bank account that accepts direct debits.

Visit our Eligibility page for more details.

Unlike a short term or payday loan the instalment loan product is usually a higher value loan typically £400 to £2000. The instalment loan is also paid back over longer periods of 3 to 24 months and incurs a smaller interest rate than a payday or short term loan.

To operate this service we receive commissions from the provider we refer you to. We are a broker not a lender. We use a unique algorithm to match our customers' requirements to our panel of lenders which is based on many of the features of the application details, applicant preferences, and the lenders product but does not include the commission paid by the lender to us. We DO NOT charge our customers a fee for this service. No one from Nouveau Finance Ltd, Solus, or any financial partner relations; including lenders; will ever contact you by any means and request you to send money to them or buy products from them in advance of receiving your loan funds.

The rules and regulations that govern companies like ours state that we must show you the Annual Percentage Rate (APR). APR's are calculated based on paying a fixed amount of interest annually.

Short-term or payday loans are normally taken over a maximum term of 30 days so APR's are not the best way to measure how competitive our rates are. Our lenders prefer to focus on the amount you pay back in total rather than on APR. We are confident that we offer the most competitive rates in the market for this service.

Your repayment will usually be taken in full via direct debit on your next payday by the lender you choose to take your loan with. Or in the case of the instalment loan product the payments will be taken by direct debit on the same agreed date each month.

We will not perform a credit check. Lenders will complete a soft search when assessing your eligibility for a loan, if you accept a lender’s loan offer, they will perform a hard credit search.

Absolutely, many of our lenders will consider applicants with less than perfect credit histories.

Times will vary based on the lender you have been matched to and the loan product type you are seeking. Using short-term loans as an example, in many cases loan decisions can take as little as 30 minutes. If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 14:30.

It will be paid directly into your bank account.

No - Here at Solus we do not charge you a fee for using our loan matching service.

If you are receiving email and text messages from our company it is because the marketing permission box was checked when you applied for a short-term, payday loan or instalment loan with us.

If you wish to stop receiving news of our latest offers and deals please click on the unsubscribe link in one of our emails or reply 'STOP' to one of our text messages. Alternatively visit our home page and click on the SMS Opt Out link at the bottom of the page. After unsubscribing we will then discontinue sending you messages as soon as technically feasible. In most cases within 48hrs

If you have any questions that weren't answered here please visit our Support Centre and they will be happy to help. If you need to write to us, here is our postal address: 1st Floor, 2 Woodberry Grove, Finchley, London, N12 0DR

If for any reason you choose to cancel your loan please refer to the loan agreement sent to you by your lender, cooling off periods and lender cancellation policies may vary.

Contact your lender! If you think you’re going to have a problem with a payment, you should call your lender as soon as you can. The sooner they know there’s a problem, the sooner they can start to help. They don’t tell people off – they just do everything they can to make things easier. You’ll probably be surprised how understanding they are, so don’t be afraid – just pick up the phone now and if you need help locating phone numbers email us at customers@solusloans.co.uk

Alternatively, if you’re worried about things and want more information about how to manage your money, there are a number of free and independent organisations which can help.

StepChange www.stepchange.org 0800 138 1111. Free advice on debt problems and finding the best solution for you.

Money Helper www.moneyhelper.org.uk. Offers free, unbiased and independent advice to people who want to manage their money more effectively. Face to face sessions available.

National Debtline www.nationaldebtline.org 0808 808 4000. Free, confidential debt advice service run by the Money Advice Trust.

Auto Decisioning allows lenders to make a decision on your loan application without the need for human interaction, for more information please contact your lender or see their privacy policy.