£800 Loan?
Find out why a credit line might be better.
Looking for a £800 loan? Try a Drafty line of credit
Looking for a £800 loan to meet your unexpected financial emergencies? We could offer you something better (at least in our opinion!).
Here's how Drafty's line of credit could help you:
- Speed - You'll get a fast decision. And if approved, we’ll send the cash to your bank in under 90 seconds
- Borrow what you need – Apply for up to £3000 and withdraw up to your approved credit limit when needed
- Reuse - Once you’ve used Drafty, you can withdraw up to your agreed limit again. No need to reapply
- No fees – We don't charge any extra fees. Also, you only pay interest on what you use. It doesn't cost you a penny if you don’t use any of your credit.
At Drafty, we’re proud of our customer service. See why we’re rated great on Trustpilot.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
Drafty is FCA Authorised
We’re an FCA-authorised and regulated direct lender. Our authorisation number is 689378.
Responsible lending is our biggest priority, and we want to ensure our customers' experience is great. We believe in ensuring that you are fully informed about the costs, fees, and repayment terms of our credit line. To achieve this, we have taken great care to present all charges, including interest rates and fees, upfront. No hidden costs or unwelcome surprises - everything is clear and easy to understand.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
How is Drafty an alternative to a £800 loan?
- Credit and affordability checks: We assess your creditworthiness and affordability to ensure that any borrowing aligns with your financial capacity. This ensures you are not taking on more debt than you can handle.
- Flexible credit line: Upon approval, we provide you with a credit line, allowing you the flexibility to borrow funds up to a specified credit limit. This distinguishes us from payday loans and other types of loans, as it enables you to borrow varying amounts based on your unique needs. Rather than being restricted to a fixed loan amount.
- Flexible repayment terms: You can make minimum payments or pay off the balance in full, depending on what works best for your financial situation. This flexibility allows you to manage your repayments in a way that suits your budget and cash flow.
- Quick access to funds: If you need to borrow money on the same day, Drafty may be able to help. Once approved, you could get your line of credit sent to your bank within 90 seconds.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
How do £800 loans work?
If approved, you'll receive the terms and conditions of the loan. Subject to repayment terms, you’ll repay the loan within a short period of time in equal monthly repayments.
At Drafty, we offer a better alternative. We offer a line of credit. If you're approved for a line of credit, you’ll get an account with a credit limit. From here, you can transfer money from your Drafty account to your bank account anytime within your agreed credit limit.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
What can I use a 800 pound loan for?
£800 personal loans can be used for various purposes, including:
- Unexpected expenses: For example, medical expenses, home repairs, legal fees, or unexpected bills.
- Home improvements: If you need to make urgent repairs or renovations to your home, a loan can help you cover the costs.
- Repairs: If your vehicle breaks down or you need to buy spare parts quickly.
- Bridge financial gaps: Sometimes, there might be a temporary gap between expenses and income, and a small loan can help you manage until your next payday.
At Drafty, we ask you why you need our line of credit. Usually, our customers use it in the same way they would a short term loan. This could be to cover an unexpected expense. For example, car repairs, dealing with a boiler breakdown, or a sudden, unexpected bill.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
How do I check my eligibility for Drafty’s £800 credit line?
You can apply online with Drafty if you are:
- Aged 18 or over and employed
- Earning at least £1,250 a month
- A UK resident with an active UK bank account and debit card
After you’ve provided the required details, we’ll do some credit and affordability checks. We can give you an instant decision. If approved, we'll agree on a credit limit and send the cash to your bank within 90 seconds. You can even consider us as an alternative to loans for bad credit as we might consider you for our line of credit even if you have a bad credit rating.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
How to apply for a £800 loan alternative with Drafty?
Here's how you can apply:
- Apply – Visit our website and click on the apply now button. Enter a few personal details to help us understand who you are.
- Get a credit limit – If approved, you’ll be given a credit limit of up to £3,000. You can use it as you require, paying interest only on what you use.
- Flexible payment – You’ll need to repay a minimum amount every month. Want to repay early? That’s fine with us! We don’t charge anything extra. Also, it’s easy to make payments through our app.
- Fast Cash transfer – Use Drafty whenever you need to, and we’ll send the money to your bank in under 90 seconds.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
Can I get more than £800?
If you need more than £800, Drafty could help. You could borrow between £50 and £3,000 (based on approval). Plus, you have the flexibility to reuse your credit line up to the approved limit without the need to reapply, as long as you make all your repayments on time and your account remains in good standing.
How long can I borrow a £800 loan for?
However, the duration for which you can borrow a £800 loan varies depending on the lender and loan term. Short term loans, such as payday loans and unsecured loans, often have a repayment period of a few weeks, typically aligned with your next payday.
Can I get a £800 loan with bad credit?
Contact Drafty today
- Live chat - Log in or create a new Drafty account to speak to our team through our live chat function
- Drop us a message - If you'd like to send us an email, checkout our contact us page and drop us a line. A member of our friendly team will answer your questions as soon as possible
- Give us a call - We're here to answer your calls on 0203 695 8072 from 9am to 6pm Monday to Friday, and 9am to 1pm every Saturday#
FAQs - £800 loan
Is Drafty a £800 payday loan lender?
No. Drafty is not a payday loan lender. Drafty offers a flexible credit line. Unlike payday loans with a fixed repayment date, Drafty provides ongoing access to credit, and borrowers are charged interest only on the amount they borrow.
Can I get a £800 loan with no credit check?
We advise you to not take a loan from any lender who offers a loan with no credit check. All FCA-regulated direct lenders need to perform a credit check as part of the loan application process. This practice is in place to prioritise responsible lending and ensure a thorough assessment of each application.
Can I get a 800 pound loan on same day?
It may be possible to get a £800 loan on the same day. However, the ease and speed of getting a loan will depend on the lender's policies, the type of loan, and the checks they perform.
Can I get a £800 person loan to meet urgent financial needs?
Yes, Lenders do offer £800 personal loans to meet urgent financial needs. However, approval for a loan depends on various factors, including your credit history, income, and the lender's policies.
Drafty is an FCA-authorised provider of a Revolving Line of Credit with a credit limit of up to £3000, available to borrow as and when you need it (subject to affordability checks). You only pay interest on what you draw/use.
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.4% (variable).
There is no set minimum or maximum repayment term, so long as the minimum monthly repayment sum is met, however, you may repay back early without any fees and save on interest.