- Cash sums up to £2500 (subject to affordability)
- Repay over 13 - 104 wks
- Fixed weekly payments
- Friendly home service
- No bank account needed
- Multiple loan options
Although doorstep loans are a well established form of lending you may still have plenty of questions you'd like answering. So, we've put together this FAQ that hopefully will answer any questions that you have.
There is no difference - it is simply language. Home credit is a cash loan that is delivered to and repayments collected from your home by an agent. Over time these have become known as "doorstep loans".
When a loan is arranged you decide on a fixed period over which you agree to repay the loan. Our lenders offer a variety of fixed periods ranging from 13 weeks to 52 weeks (existing borrowers may be able to borrow over longer periods up to 104 weeks).
To illustrate the point let's use the representative example for Provident Loans. You have borrowed £200 and have agreed to repay it over 26 weeks. Each week an agent will visit you at home to collect a payment from you of £12. The amount of interest you pay is fixed. If you were unable to make a payment one week you would contact your agent. However, the total amount you repay would not increase. There are no extra or hidden charges. You can rest easy knowing that the total amount you agreed to repay at the start of the loan will not increase for any reason. The one thing to be aware of is that if you choose to make a payment by cheque - if your bank bounces the cheque because of insufficient funds you are likely to incur a fee of £11.
We work with the 2 largest UK national lenders - lenders you can trust and whose reputation has been built up over the last 80 to 100 years! We recommend you apply through us to them rather than consider a more local doorstep lender who may not have the experience of our lenders. With this in mind you can compare our lenders and then decide which one looks right for you.
All applications are considered equally and even if you have previous CCJs or defaults you may still qualify for a doorstep loan. Lenders do undertake credit checks but this does not mean that you will necessarily be refused a loan. However, lenders are not able to accept applications from anyone who has been declared bankrupt in the last 6 years.
Certainly not. In fact a high proportion of borrowers do not own their home. As these are small loans they are unsecured which means you don't need to own a property.
If you find yourself in a situation where you can repay your loan early then it will generally be advantageous to do so. You will be able to reduce your total interest payable on the loan. Our lenders have slightly different policies on this. Your agent can explain more to you.
As with other forms of borrowing or bill paying you should always be open about your situation if you are finding payments difficult to keep on top of. Lenders are no different to utility companies or your local council - they are obliged to try to help you if money is tight. They can look at reducing weekly payments to help reduce the load. The first thing to do is to speak to your agent.
Compare the price of home collected and other cash loans available in your area at www.lenderscompared.org.uk.
To operate this service we receive a commission from the provider we refer you to.
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