1 Total amount repayable
The full amount you’ll pay back, including interest and fees. This is the most useful number for comparing loans.
Clear answers about borrowing, before you apply.
Meridian Praxis helps you explore personal borrowing in plain English. We explain costs and conditions up front so you can decide whether borrowing is right for you, and what else might help.
Borrowing costs, explained
Before you borrow, make sure you understand these four things. Any lender should show them clearly before you agree.
2 APR
The annual percentage rate shows the yearly cost of borrowing, including fees. Short-term loans often have very high APRs because the cost is spread over a short period.
3 Missed or late payments
Late payment can lead to extra charges, more interest and a lower credit score, which can make future borrowing harder or more expensive.
4 Repaying early
You have the right to repay a regulated consumer loan early, in full or in part. You may pay less interest, although a small charge can apply on some loans.
Cost limits on short-term loans
In the UK, high-cost short-term loans (often called payday loans) are covered by a price cap set by the Financial Conduct Authority. Interest and fees are capped, default fees are limited, and you should never pay back more in interest and fees than the amount you borrowed.
Borrowing options you can explore
| Type | What it is | Worth knowing |
|---|---|---|
| Short-term loan | A smaller loan repaid over weeks or a few months. | Usually expensive. Best avoided for ongoing costs or to repay other debts. |
| Instalment loan | A loan repaid in fixed instalments over several months. | Check the total amount repayable, not just the monthly payment. |
| Personal loan | A larger unsecured loan, usually repaid over one to several years. | Rates depend on your circumstances. You may be offered a different rate from the one advertised. |
Alternatives worth considering first
- Credit unions offer community-based loans with capped interest rates.
- Talking to the company you owe may get you more time to pay a bill.
- Budgeting Advance may be available if you get Universal Credit.
- Local welfare support from your council can help in an emergency.
- Free debt advice from MoneyHelper or StepChange if you’re already struggling.
Is borrowing right for you right now?
Ask yourself honestly:
- Can I afford the repayments on top of my usual bills, even if something unexpected comes up?
- Am I borrowing for a one-off cost rather than everyday spending?
- Would I be using this loan to repay another loan?
- Have I compared the total amount repayable with other options?
If you’re unsure about any of these, speak to a free debt adviser before borrowing.
How it works
Tell us what you’re looking for
A short enquiry about the amount, what it’s for and your situation. No credit check.
We explain what’s involved
You’ll get clear information about the types of borrowing that may fit and what they could cost.
You choose whether to go further
If you want to, we may pass your enquiry to a lender or broker. We’ll tell you who first, and they’ll carry out their own checks.
You decide
Read the terms carefully. You don’t have to accept any offer, and you have 14 days to withdraw from a regulated credit agreement.
Frequently asked questions
No. Lenders make their own decisions after checking your circumstances and affordability. Be cautious of anyone who promises guaranteed approval.
No, Meridian Praxis does not lend money or make lending decisions. Any lender you apply to will set its own rates and terms.
Making an enquiry on this website doesn’t involve a credit check. If you apply to a lender, they may carry out a soft search (which other lenders can’t see) or a full credit check (which is recorded on your file). Ask which before you apply.
You need to be at least 18 and live in the UK.
Contact your lender as early as you can. Lenders are expected to treat customers in difficulty fairly. You can also get free, confidential advice from MoneyHelper, StepChange or Citizens Advice.
For most regulated credit agreements, you have 14 days to withdraw. You’ll need to repay the money borrowed plus any interest for the days you had it.
Make an enquiry
This is an enquiry, not a loan application. It takes around two minutes.
Sorry, we couldn’t send your enquiry. Please try again, or email us at contact@meridian-praxis.co.uk.
- No credit check to enquire
- No obligation to take anything further
- No guarantee of a loan offer
Thank you. Your enquiry has been sent.
We’ll reply using the contact details you gave us. Remember, an enquiry isn’t a loan application and approval isn’t guaranteed.
Contact us
Post
Meridian Praxis Ltd
57 Brookfield, West Allotment
Newcastle Upon Tyne
United Kingdom, NE27 0BJ
Complaints
If you’re unhappy with our service, email us and tell us what went wrong.