London, UK -- (SBWIRE) -- 06/17/2015 -- MoneyBoat.co.uk announces the launch of a competitive, short term lending service for residents of the United Kingdom, with the goal being to right the wrongs of an industry that has gone off the rails. The lender remains customer oriented and employs a friendly and discreet customer service crew to assist clients with every transaction. The flat interest rate of 0.7 percent per day is 0.1 percent less than seen with a lot of other lenders in the market. In addition, it comes in less than the FCA interest rate cap.

"Individuals in need of short term payday loans in the UK find the service to be safe, secure and discreet. They appreciate working with a responsible lender, one with affordable rates, It's a nice change for those who have used payday lenders in the past only to find their financial difficulties increased rather than decreased with the loan," Nick Krauspe, spokesperson for Money Boat, states

According to ConsumersAffairs.org.uk, the payday loan continues to thrive in the United Kingdom, with more than 2.1 million consumers taking out a payday loan in 2012. Interest rates vary greatly by lender, thus consumers need to take care to ensure they are getting the best deal available. Many borrowers fail to realize that rolling over a loan for a six month period could lead to the consumer paying £660 on a £300 loan.

"One needs to take care to ensure they are obtaining the best rate possible. In addition, one needs to find a reputable lender, one who makes potential borrowers undergo affordability and credit checks. Lenders shouldn't take advantage of consumers when they are down on their luck, yet many do. Money Boat wishes to change this and help those most in need while still treating them fairly," Krauspe continues.

Lenders are required to visibly share the annual percentage rate of their loans, yet many consumers don't see how much the loan will actually cost them. The industry continues to benefit from this and rake in huge amounts of cash. Many in the country believe this industry is now out of control.

"Money Boat (www.moneyboat.co.uk) wishes to show consumers they do have options when it comes to borrowing money for the short term. One doesn't need to pay extremely high interest rates. Turn to this provider for assistance if you need cash until your next payday. We will assist you however we can to get you the money you need, on flexible and transparent terms that suit your circumstances," Krauspe announces.

About MoneyBoat.co.uk
MoneyBoat.co.uk provides affordable and responsible short term payday loans, providing a convenient way for individuals to stay afloat when cash flow problems arise. The easy to understand payments and charges together with the streamlined process benefit consumers, and the company strives to provide convenient and stress free access to instalment cash loans that meet the needs of the client. As a responsible lender, Money Boat requires all approved applications pass the credit and affordability checks.