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Update (Feb 2020):

Comparison listings are currently being updated.

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Compare 6 Month Loans: Bad Credit Direct Lenders

Compare 6 Month Loans
About: History

Instalments across 3 months were studied in the previous comparison and today we’ll be doubling up to the popular 6 month loans niche. There is a heavy overlap across each, but there are less overall options when stepping up. It is however a much more competitive space to be operating in due to the instalment heavyweight brands Lending Stream and Sunny who each advertise on TV. Some further brands competing well in 2019 are The One Stop Money Shop and Uncle Buck. Some big news recently coming to light was the closure of Enova’s Pounds to Pocket. This was merged with On Stride Financial for a short time, however all Enova brands have now ceased trading.

Lending Stream was the first major brand to carve out the 6 month loans sector. They had originally offered a payday term, but were savvy to change direction when most lenders piled on short term. In time they’d of course be joined by an army of monthly firms who adapted when industry capping came into force. Stream’s main rival is Sunny. These have been the dominant forces in recent years, investing lots of money on brand promotion both online and through TV ads. The most popular sites don’t however tend to offer up the most competitive rates. Smart-Pig is one of the only recognisable brands to rank within the top 5 subprime deals as shown below.

About: Niche

In the past instalment comparison the benefits of spreading a monthly balance across 3 months was highlighted in order to improve affordability. When extending to half a year those repayments become even more affordable assuming that you are sticking to modest borrowing sums. When opting for a 6 month loan you’ll receive better overall value since the interest is cutting against a balance that is reducing on a monthly basis. It is true that longer term borrowing helps the lenders to pocket more cash, but most providers do enable early settlements to be made. This can usually be done with ease from making the request via your account login. Otherwise, by phone.

We’d consider good sector value to float around £150 per £300 (reminder: £100 was competitive at 3m). Many established brands tend to charge closer to £300 that is almost double the price. High cost products can especially cause problems for amounts accessed between £500 and £1000. Large debts like this could easily spiral and so should be extended over a year. Further comparisons will look at 12 and 24 month loans. There are also guarantor and logbook options for very poor credit. Playing the long game and building up a limit on a subprime credit card is another viable option. The key advantage here is zero interest on purchases when balances are cleared monthly.

Compare 6 Month Loans: Bad Credit Direct Lenders (Alexa Ranked)

Top Ranked

Brand + Alexa Rank
1) The One Stop Money Shop | #107,793

The One Stop Money Shop Loans

/£300 Price (6m)
£277.50

Borrow
£200 to £1000
Choices
6m to 12m
Opening Hours
Mon/Fri (8am-4pm)
Notes
Required age (30+)
Brand + Alexa Rank
2) Lending Stream | #602,042

Lending Stream Loans

/£300 Price (6m)
£275.52

Borrow (Existing)
£50 to £800 (£1500)
Choices
6m
Opening Hours
Mon/Sun (8am-8pm)
Notes

Brand + Alexa Rank
3) Sunny | #621,070

Sunny Loans

/£300 Price (6m)
£168.50 (+promo) to £274.44

Borrow
£100 to £2500
Choices
6m to 14m
Opening Hours
Mon/Thu (8.30am-7pm), Fri (8am-5pm), Sat/Sun (10am-3.30pm)
Notes
7/7 payouts (all). Promo (SUNNY30)
Brand + Alexa Rank
4) Satsuma Loans | #1,019,800

Satsuma Loans

/£300 Price (6m)
£268.80

Borrow (Existing)
£100 to £1000 (£2000)
Choices
3m to 12m
Opening Hours
Mon/Fri (8am-8pm), Sat (8.30am-5pm)
Notes
Weekly repay: £274.60
Brand + Alexa Rank
5) SafetyNet | #1,139,443

SafetyNet Loans

/£300 Price (6m)
£432

Borrow (Existing)
£100 to £500 (£1000)
Choices
Line of credit (reloan monthly when paid)
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-5pm)
Notes
7/7 reloan payouts
Brand + Alexa Rank
6) Mr Lender | #1,585,904

Mr Lender Loans

/£300 Price (6m)
£254.40

Borrow (Existing)
£200 to £500 (£1000)
Choices
3m to 6m
Opening Hours
Mon/Fri (8am-6.30pm), Sat/Sun (8am-3.30pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
7) Uncle Buck | #1,748,642

Uncle Buck Loans

/£600 Price (6m) | £300 Unavailable
£590.56

Borrow (Existing)
£100 to £500 (£1000)
Choices
4m to 6m
Opening Hours
Mon/Fri (8am-9.30pm), Sat/Sun (9am-6pm)
Notes
6m requires £425+
Brand + Alexa Rank
8) Dot Dot Loans | #2,118,459

Dot Dot Loans

/£300 Price (6m)
£261.46

Borrow
£200 to £4000
Choices
3m to 48m
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-2pm)
Notes
7/7 reloan payouts. Required age (21+) for larger loan
Brand + Alexa Rank
9) Drafty | #2,218,634

Drafty Loans

/£300 Price (6m)
£97.20

Borrow (Existing)
£50 to £3000 (£5000)
Choices
Line of credit (no fixed date)
Opening Hours
Mon/Fri (7am-10pm), Sat/Sun (7am-10pm)
Notes
7/7 payouts (all). Good score required
Brand + Alexa Rank
10) MoneyBoat | #2,397,495

MoneyBoat Loans

/£300 Price (6m)
£259.64

Borrow (Existing)
£200 to £800 (£1500)
Choices
2m to 6m
Opening Hours
Mon/Fri (8.30am-5.30pm)
Notes

Brand + Alexa Rank
11) MyJar | #3,001,647

MyJar Loans

/£300 Price (6m)
£234.54

Borrow
£100 to £4000
Choices
3m to 24m
Opening Hours
Mon/Fri (8am-8pm), Sat (8am-6pm), Sun (9am-6pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
12) Payday Loans Net | #3,059,796

Payday Loans Net Loans

/£1200 Price (6m) | £300 Unavailable
£900.12

Borrow (Existing)
£200 to £700 (£2000)
Choices
1m to 6m
Opening Hours
Mon/Fri (8am-5pm)
Notes
6m requires £1200+. Reloan example
Brand + Alexa Rank
13) Quick Loan Shop | #3,591,028

Quick Loan Shop Loans

/£600 Price (6m) | £300 Unavailable
£281.10

Borrow
£100 to £2000
Choices
1m to 12m
Opening Hours
Not disclosed
Notes
Instalments require £400+
Brand + Alexa Rank
14) Tappily | #3,962,342

Tappily Loans

/£300 Price (6m)
£183.60

Borrow
£100 to £2500
Choices
Line of credit (reloan monthly when paid)
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-5pm)
Notes
7/7 reloan payouts. Good score required
Brand + Alexa Rank
15) QuidMarket | #3,979,508

QuidMarket Loans

/£300 Price (6m)
£296.45

Borrow (Existing)
£300 to £600 (£200 to £1000)
Choices (Existing)
3m to 6m (1m to 6m)
Opening Hours
Mon/Fri (8am-6pm), Sat (9am-4pm)
Notes

Brand + Alexa Rank
16) Fast Loan UK | #4,874,813

Fast Loan UK Loans

/£300 Price (26w)
£223.86

Borrow (Existing)
£50 to £600 (£2000)
Choices
7d to 8m
Opening Hours
Mon/Fri (9am-5pm)
Notes
Monthly repay: £224.43
Brand + Alexa Rank
17) WageMe | #6,251,252

WageMe Loans

/£300 Price (6m)

Borrow (Existing)
£50 to £350 (£5000)
Choices
1m to 18m
Opening Hours
Mon/Fri (9am-5pm)
Notes
No example provided
Brand + Alexa Rank
18) Fair Finance | #8,152,293

Fair Finance Loans

/£300 Price (6m)
£116 (new) | £92 (reloan)

Borrow (Existing)
£100 to £1000 (£3000)
Choices
6m to 18m
Opening Hours
Mon/Fri (9am-5.30pm)
Notes
Weekly repay: £126 (new) & £101 (reloan)
Brand + Alexa Rank
19) Smart-Pig | #11,122,453

Smart-Pig Loans

/£300 Price (6m)
£150

Borrow
£50 to £350
Choices
1d to 6m
Opening Hours
Mon/Fri (9am-7pm), Sat/Sun (10am-6pm)
Notes
7/7 payouts (all). Students only

Unranked (Alphabetically Sorted)

Brand
20-27) Anico Finance

Anico Finance Loans

/£300 Price (6m)
£147

Borrow (Existing)
£300 to £1000 (£2000)
Choices
3m to 12m
Opening Hours
Not disclosed
Notes
Phone applications only
Brand
20-27) Auden

Auden Loans

/£300 Price (26w)
£165.83

Borrow (Existing)
£200 to £400 (£1000)
Choices
7d to 12m
Opening Hours
Mon/Fri (9.30am-5pm)
Notes
Monthly repay: £173.48
Brand
20-27) CreditStar

CreditStar Loans

/£300 Price (6m)
£239.64

Borrow (Existing)
£100 to £300 (£700)
Choices
1m to 6m
Opening Hours
Mon/Sun (9am-8pm)
Notes
7/7 payouts (all)
Brand
20-27) Fernovo

Fernovo Loans

/£300 Price (6m)
£172.98

Borrow
£100 to £1000
Choices
1m to 6m
Opening Hours
Mon/Fri (9am-6pm)
Notes
7/7 payouts (all) due to 7/7 underwriting
Brand
20-27) Kabayan Finance

Kabayan Finance Loans

/£300 Price (6m)
£154.94

Borrow
£100 to £1000
Choices
1m to 12m
Opening Hours
Mon/Fri (9am-5pm), Sat (10am-2pm)
Notes

Brand
20-27) Savvy

Savvy Loans

/£300 Price (6m)
£300

Borrow
£200 to £3000
Choices
6m to 24m
Opening Hours
Mon/Thu (8am-7pm), Fri (8am-5pm), Sat (10am-2pm)
Notes

Brand
20-27) SkyQuid

SkyQuid Loans

/£300 Price (6m)

Borrow (Existing)
£50 to £500 (£1000)
Choices
2m to 6m
Opening Hours
Mon/Fri (9am-6pm)
Notes
No example provided
Brand
20-27) Tick Tock Loans

Tick Tock Loans

/£300 Price (6m)
£300

Borrow (Existing)
£200 to £500 (£1000)
Choices
3m to 6m
Opening Hours
Not disclosed
Notes

END OF LISTINGS

Notes…

Alexa.com: Comparison listings are sorted by global traffic rankings. Those unranked are sorted alphabetically.

Amounts: Borrowing amounts displayed are complete ranges (across every term available).

Closures: Capfin, H&T Finance (web), In-Sync Credit Services, NextCredit, Oakam, Pounds to Pocket, Quidie, Tiger Loans Company, Track Loans, Trusted Quid, WageDayAdvance, Wonga & Zippa Loans. More recent: On Stride Financial. Now brokering only: Peachy & Uploan.

Examples: £300 costs have been sampled. The exceptions are £600 being displayed for both Quick Loan Shop (instalments require £400+) and Uncle Buck (requires £425+). Then finally we have Payday Loans Net shown with £1200 since this is the smallest amount available at 6m.

Cheapest 6 Month Loan Prices 2019 (90 Days /£300)

Best Prime Deal

1) Drafty: £97.20

Subprime

1) Fair Finance: £116 (£92 on reloans)

3) Quick Loan Shop: £281.10 /£600 [£140.55]

4) Anico Finance: £147

4) Smart-Pig: £150

5) Kabayan Finance: £154.94

Top Reviews 2019

Feefo.com (5* Percentage + Exact 5* Counts)

1) Fair Finance: 88.0% (980/1114)

2) Savvy: 85.4% (455/533)

3) Smart-Pig: 82.6% (523/633)

Reviews.co.uk (Percentage + Rounded Counts)

1) Mr Lender: 98% (22,890+)

2) Fast Loan UK: 98% (100+)

3) Lending Stream: 97% (23,590+)

Trustpilot.com (Percentage + Rounded Counts)

1) Smart-Pig: 96% (550+)

2) Mr Lender: 94% (6830+)

3) MoneyBoat: 94% (3840+)

Recommended

Drafty Loans

Prime: Drafty

We did previously hand this spot to On Stride Financial who boasted the leading competitive prime rates. They have of course now closed down and so it is Drafty that takes the top spot (as they did in the 3 month comparison). Drafty’s £300 charge over 6m is £97.20 that is an excellent deal for sure. As a credit line you’ll be able to access your cash 24/7 and there are sizeable sums available of £3000 (new customers) and £5000 (future potential). This lender has picked up high praise on major portals noting 95% (Reviews.co.uk) and 92% (Trustpilot). For those fortunate enough to qualify they are the lender of this choice in this competitive online sector.

Fair Finance Loans

Subprime: Fair Finance

Fair Finance offers the cheapest bad credit 6 month loans at £116 per £300 across 6 months. Existing customers then receive a discounted £92. This reloan charge even beats Drafty’s £97.20. Fair’s value is excellent considering that they consider CCJs, defaults and people on benefits. Outside of pricing, Fair Finance has the highest overall Feefo rating. They previously required branch visits across London, but you can now complete the process online and will just need to upload documents. There is an admin fee included with interest, but this is taken from the money paid. Any of the top 5 ranked subprime lenders would be advisable over the bigger firms that charge close to £300. With the top 5 you’d be paying less than £155.

Last Update: February 14th, 2020