London, UK -- (SBWIRE) -- 10/15/2012 -- Payday loans are an ideal way to survive through these austere times. They are fast, easy to obtain, and available to virtually anybody who is currently employed. Over the past few years, payday loans have helped hardworking UK residents survive through difficult economic times.
However one site, www.OysterPaydayLoans.co.uk, believes payday loans companies are not transparent enough about the true costs of their loans. A spokesperson explained:
“Payday loans are providing an important role in society particularly as traditional banks have all but stopped lending in the UK. However the market comes under constant attack from people who do not truly understand the alternatives for customers. One area that comes under fair criticism is a lack of transparency about fees. Although transparency has improved with lenders showing typical APR’s and typical costs we think lenders should go much further than that. We believe the total cost of the loan should be displayed prominently throughout the application process, showing customers the exact amount they will pay back.”
Oyster Payday Loans have implemented a transparency model that they believe is market leading. Their process is simple with their site using sliders to allow consumers to input how much money they need – anywhere from £50 to £1000. A second slider asks for how long they will need to borrow that money – anywhere from one day to thirty days. Once the consumers select the loan amount and duration they are presented with the total amount repayable.
Oyster Payday Loans then allows borrowers to proceed with an application completely online. A spokesperson explained what makes the OysterPaydayLoans.co.uk so efficient:
“Our three step process is unrivalled by other payday loan websites. Visitors to our site can fill out an application form in just minutes, get results almost instantly, and then receive the cash in their bank account soon afterwards. Our website is designed to be as clean and simple as possible and the lenders we work with are all OFT regulated.”
As well as connecting visitors with payday loans the site also features a plethora of quality of editorial content via its blog. A spokesperson for the site explained:
“There is a lack of quality information for people who are struggling with their finances. We try to give simple to understand advice and tips on everything from finance, budgeting and even handling the stress of financial difficulties.”
OysterPaydayLoans.co.uk is a new payday loan website that offers a fast application process and speedy approvals. The website compares the UK’s top lenders in order to find the best rates for customers. For more information, please visit: http://www.oysterpaydayloans.co.uk