About Skyline Direct Loans
Skyline’s history is unclear, with only a past reference as to being a trusted name throughout Northern Ireland for over 60 years. This should link them to the late 1950s. Outside of NI, in recent times this doorstep lender has ventured into central Scotland and they’ve grown impressively as a result. They’ve even managed to emerge as the 3rd most visited firm, only trailing 1) Morses Club and 2) Loans at Home. This is impressive when you consider that England isn’t served. Missing out on a population of 56 million hasn’t however seemingly hindered them. An important further step to growth has been the development of loyalty and trust with 4500+ fans on Facebook and 2000+ Trustpilot reviews.
This Trustpilot rating also hits an excellent 98%. A key feature of the service itself is the ability to choose between having weekly home collections or simple debit card repayments. They’ve done a good job on the site for this adding a login facility. The full loan amount range spans between £150 and £1000 with a £500 restriction on first time borrowing. There are just the 2 repayment choices of 20 and 30 weeks that just surrounds the 6m point of 26 weeks. Opting for the latter 30 week term would be advised for slightly improved value on the daily interest rate. At 0.238% this is matched with Cockle Finance.
About Street UK Loans
This experienced lender is structured as a Cic (Community Interest Company) and so as you can expect the pricing is highly competitive and qualification is open to those who would otherwise face the highest rates of interest. Street’s key problem comes down to localisation. You may only qualify here if you live within 10 miles of a branch. There are 6 of these including 2 in Birmingham with supporting bases in Coventry, Walsall, West Brom and Wolverhampton. It’s a shame that coverage only extends across the West Midlands region as they would surely be a serious competitor if they could serve the wider UK. For reference, applications can be taken online, but completion must follow in-branch.
Due to localisation, branch completion and term restrictions we have classified this firm as a doorstep lender, but there are no agent visits required. Repayments are collected by Direct Debit. They are able to collect weekly, fortnightly, monthly etc. The actual loan can be taken primarily over either 26 or 52 weeks (6 or 12 months). This is the case for the available amounts of £200, £400, £600, £800 and £1000. The largest selections of £1500 and £2000 are packaged for 12 and 18 months only (so 52 and 78 weeks). So alike doorstep lenders, term options are restricted, but there are at least sizeable amounts up for grabs for all customers (new and returning).
About Loans at Home Loans
Loans at Home originated as S&U Stores in the year 1938. This business that was established by Clifford Coombs sold household goods back then with the financial switch eventually taking place in 1975. LoansatHome4U was another name put forward. In August 2015 the acquisition from Non-Standard Finance took place. S&U Plc still exists today, but this is only through their Advantage Finance and Aspen Bridging brands. LAH is today the UK’s 2nd largest doorstep lender serving around 77,200 customers. They remain a fair way behind #1 ranked Morses Club at 180k. This 180k tally is similar to the Group’s overall user base that also includes the Everyday Loans, George Banco and TrustTwo operations.
There is no recent data circulating on the tally of agents employed, but these are sent from 64 offices. Coverage extends across England, Scotland and Wales. The aim is to arrange a rep visit within 24 hours although their operational hours are quite restricted. The product pitched enables funding from £100 to £600 across a range of 14 to 34 weeks. If you opted for £100 then you’d be charged £40 for this set at 14 weeks. Increasing to £200 may be advised as this opens up all 3 repayment choices (14, 26 & 34 weeks). A recent upgrade has seen the addition of a login facility and there is also an app.
About Morses Club Loans
Morses Club has recently become the market leading doorstep lender as a result of the recent closure of Provident. Going back to the roots, Mr Levi Morse opened a drapery store in Swindon way back in 1878. Further department stores would open over time and they’d later employ agents to visit homes and sell goods on weekly credit. As time passed they’d switch to money and become well established, yet it has only been in recent years where we’ve seen the emergence of a major sector force. This was signified when they merged with Shopacheck in 2015. They’ve maintained their original name and have built on this with a series of acquisitions, alongside growing Dot Dot Loans into a premier instalment loan brand.
Collectively the Group is now serving more than 200,000 customers. The bulk of this tally (180,000) is attributed to this central company. This is also the case with their employees, with the Group’s latest financial report highlighting 560 employees supported by 1385 self-employed agents. Perhaps these jobs may become downsized soon through the recent development that has seen the addition of a no agent doorstep loan option. This hands you with the choice of how your collection will be made. All customers can now importantly use the Morses Club login equipped to www.morsesclub.com. This is a welcome upgrade as it’ss very rare to see online account management provided in this sector.
About Naylors Finance Loans
This Yorkshire-based doorstep lender was established in 1978. The original company was setup as J&R Naylors of Wakefield Ltd that they changed in 2012. This explains why they previously used www.jrnaylors.co.uk. Over time they have spread across regions, but they aren’t fully national. This has been an interesting doorstep lender to monitor over the past year. On past Alexa stat checks, they had managed to climb up to rank 2nd behind Provident and then on a later check they took the very top spot for a short time. They have however since dropped down behind Mutual, Morses Club and Provident Ireland. Now in 2020 they are Alexa unranked. It isn’t clear where that surge came from, although we’d guess at Google search advertising.
General coverage areas include areas of East Midlands, North East, North West, West Midlands and Yorkshire & the Humber. It is stated that they are continually expanding across new areas. Just be aware that all new customers must now be aged at least 21. When starting off, a small loan of £100 will always be provided that can in time be bumped up to £400. Just a single repayment term of 27 weeks is provided (approx 6 months). An interesting recent upgrade to payments has been made. Whilst an agent must initially visit you, moving forward you’ll be able to repay by standing order or by recurring debit card payments if you don’t want agent collections.