Doorstep loan lenders in the UK are financial institutions or lending companies that provide small, short-term loans to borrowers who prefer to make repayments on a weekly or monthly basis.
Doorstep loan lenders typically operate by sending a representative, known as a doorstep agent, to the borrower’s home to deliver the loan amount in cash and collect repayments.
Some of the doorstep loan lenders in the UK include:
- Provident Personal Credit – Provident is one of the largest doorstep loan lenders in the UK, offering loans of up to £1,000. Repayments can be spread over 13 to 52 weeks, and the company has a network of agents across the country.
- Morses Club – Morses Club is another well-known doorstep loan lender in the UK, offering loans of up to £1,500. Repayments can be spread over 20 to 50 weeks, and the company has a network of agents in more than 250 branches across the UK.
- Loans At Home – Loans At Home was a doorstep loan lender in the UK that provided loans of up to £600. However, the company stopped accepting new loan applications in 2020.
- Mutual – Mutual is a mutual society that provides doorstep loans of up to £500 to borrowers in certain regions of the UK. Repayments can be made weekly or fortnightly.
It’s important to note that doorstep loan lenders typically charge higher interest rates and fees than traditional lenders, and borrowers should carefully consider the costs and risks before taking out any form of credit. It’s also important to compare loan options and read the terms and conditions carefully before agreeing to a loan.