Compare Doorstep Loans: Bad Credit Direct Lenders

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Compare Doorstep Loans
About: History

Doorstep loans (aka home collection loans) have a rich history dating back to the late 1800s. The now defunct Greenwood arrived first in 1877 targeting the North West region. Greenwood’s long running rival Provident who had followed shortly after in 1880 would eventually acquire them in 1977. They too have recently closed! Morses Club who are now the biggest firm can be traced back early to 1878, although this was as a general drapery store. They became a much greater force when they merged with Shopacheck. Provident’s level of dominance hadn’t really been troubled throughout their long history. Before closing they had approx 440,000 customers (was 697,000) and 3800 staff. Morses Club have moved forward as #1 with 180,000+ customers.

Loans at Home, Mutual and Naylors are other notable sector brands, but outside of these you’ll tend to find very small localised firms. Doorstep lenders haven’t tended to modernise their products in this internet era. In the old days, home collections were made on vouchers that could be exchanged for coal and food. Today, you’ll receive a cash loan or an alternative pack of high street vouchers. The odd lender may offer the option of a no agent loan, but in most cases the providers aim to keep their self-employed agents as an integral part of the business. The lender sites in focus are mostly under-developed and web traffic performance is often poor that is evident below.

About: Niche

Doorstep lending is subprime specialised, where people with bad credit and low incomes are the target audience. The product cost is competitive, but many customers fall into a continual borrowing cycle that can be tricky to escape. When applications are processed, a designated agent would usually visit within a few days to run through the documents and complete the payout. They are operating on commissions and so it is always in their best interest to say yes. It is very common for a customer to be started off on just £100. High street vouchers are often offered instead of cash. This is always in the form of Love2Shop vouchers that can be spent in 20,000+ stores.

A small handful of repayment terms will be offered at application stage. These are always packaged in weeks rather than months. The same fixed terms don’t tend to be available across brands. The reason why they likely do this is so that they can’t be benchmarked against their rivals. Payday and instalment loan products are much more efficient and so doorstep lenders tend to overlook very poor credit whether that’s CCJs or defaults. Low incomes and even unemployed loans have been a past target. These are scenarios where payday firms would typically say no. The biggest sector brands tend to launch web equivalents. Morses operates with Dot Dot (and before closing Provident had Satsuma).

Compare Doorstep Loans: Bad Credit Direct Lenders (Alexa Ranked)

Top Ranked

Brand + Alexa Rank
1) Morses Club | #459,025

Morses Club Loans

/£100 Price (35w)
£75

Borrow (Existing)
£100 to £1000 (£1500)
Choices
35w to 52w
Opening Hours
Mon/Fri (8.30am-6pm)
Region
Entire UK. No agent option
Brand + Alexa Rank
2) Loans at Home | #3,610,858

Loans at Home Loans

/£100 Price (14w)
£40

Borrow
£100 to £600
Choices
14w to 34w
Opening Hours
Mon/Fri (8am-6pm)
Region
England, Scotland, Wales
Brand + Alexa Rank
3) Skyline Direct | #6,649,208

Skyline Direct Loans

/£200 Price (20w) | £100 Unavailable
£80

Borrow (Existing)
£150 to £500 (£1000)
Choices
20w to 30w
Opening Hours
Mon/Fri (8.30am-5.30pm)
Region & Notes
Northern Ireland & Scotland. No agent option
Brand + Alexa Rank
4) Street UK | #8,523,612

Street UK Loans

/£200 Price (26w) | £100 Unavailable
£55.44

Borrow
£200 to £1000
Choices
26w to 78w
Opening Hours
Mon/Fri (9am-5pm)
Region & Notes
W-Mid. Must complete in-branch (6 network). No agent option

Unranked (Alphabetically Sorted)

Brand
5-25) Arena Personal Credit

Arena Personal Credit Loans

/£100 Price (21w)
£47

Borrow (Existing)
£50 to £500 (£800)
Choices
14w to 51w
Opening Hours
Mon/Fri (9am-5pm)
Region & Notes
E-Mid. Required age (21+)
Brand
5-25) Bee Finance

Bee Finance Loans

/£100 Price (31w)
£55

Borrow (Existing)
£50 to £400 (£1000)
Choices
12w to 50w
Opening Hours
Mon/Fri (9am-5pm), Sat (9am/1.30pm)
Region
W-Mid
Brand
5-25) Brantwood Finance

Brantwood Finance Loans

/£100 Price (24w)
£50

Borrow
£100 to £500
Choices
24w to 28w
Opening Hours
Mon/Fri (9am-5pm)
Region & Notes
N-West. Required age (21+)
Brand
5-25) Bristol Finance

Bristol Finance Loans

/£100 Price (24w)
£44

Borrow
£30 to £1000
Choices
14w to 43w
Opening Hours
Mon/Fri (9am-5pm)
Region
S-West
Brand
5-25) Careys Personal Credit

Careys Personal Credit Loans

/£100 Price (24w)
£47

Borrow (Existing)
£50 to £200 (£1000)
Choices
14w to 56w
Opening Hours
Mon/Thu (8.30am-4.30pm), Fri (8.30am-1.30pm)
Region
N-East
Brand
5-25) CLC Finance

CLC Finance Loans

/£100 Price (23w)
£72.50

Borrow (Existing)
£100 (£1000)
Choices
16w to 23w
Opening Hours
Mon/Thu (7am-6pm), Fri (8am-6pm)
Region
E-Mid, N-West, Y&Hum
Brand
5-25) Cockle Finance

Cockle Finance Loans

/£100 Price (30w)
£50

Borrow (Existing)
£100 (£1000)
Choices
30w
Opening Hours
Mon/Fri (9am-5pm)
Region
E-of-Eng
Brand
5-25) Diamond Financial Services

Diamond Financial Services Loans

/£100 Price (22w)
£54

Borrow
£100 to £500
Choices
15w to 32w
Opening Hours
Mon/Fri (9am-6pm)
Region & Notes
Y&Hum. Required age (21+)
Brand
5-25) E2 Finance

E2 Finance Loans

/£100 Price (26w)
£66

Borrow (Existing)
£100 to £200 (£300)
Choices
15w to 26w
Opening Hours
Mon/Fri (9am-5pm)
Region & Notes
Y&Hum. No agent option. Required age (21+)
Brand
5-25) Ealing Trading Company

Ealing Trading Company Loans

/£100 Price (15w)
£50

Borrow (Existing)
£100 (£200)
Choices (Existing)
15w
Opening Hours
Mon/Fri (9am-5pm)
Region
E-Mid, E-of-Eng, S-East
Brand
5-25) Estone Personal Credit

Estone Personal Credit Loans

/£100 Price (27w)
£41.75

Borrow
£50 to £1000
Choices
12w to 102w
Opening Hours
Mon/Thu (9am-5pm), Fri (9am-1pm)
Region & Notes
W-Mid. Pause on lending (covid)
Brand
5-25) MH Finance

MH Finance Loans

/£100 Price (15w)
£50

Borrow (Existing)
£100 (£1000)
Choices
15w
Opening Hours
Not disclosed
Region
S-East
Brand
5-25) HomeChoice

HomeChoice Loans

/£100 Price (27w)
£62

Borrow
£50 to £1000
Choices
15w to 52w
Opening Hours
Mon/Fri (9am-6pm)
Region
Y&Hum
Brand
5-25) Mutual

Mutual Loans

/£100 Price (26w)
£30

Borrow (Existing)
£100 to £1000 (£2500)
Choices
26w to 102w
Opening Hours
Mon/Fri (8.30am-5pm)
Region
E-Mid, E-of-Eng, S-East, W-Mid, Y&Hum
Brand
5-25) Naylors Finance

Naylors Finance Loans

/£100 Price (27w)
£62

Borrow (Existing)
£100 (£400)
Choices
27w
Opening Hours
Mon/Fri (8am-4.30pm)
Region
E-Mid, N-East, N-West, W-Mid, Y&Hum
Brand
5-25) Pinewood Finance

Pinewood Finance Loans

/£100 Price (34w)
£70

Borrow (Existing)
£100 to £200 (£500)
Choices
15w to 34w
Opening Hours
Mon/Fri (8.30am-5.30pm)
Region
E-of-Eng
Brand
5-25) Scotcash

Scotcash Loans

/£100 Price (13w)
£24.82

Borrow
£100 to £2000
Choices
4w to 52w
Opening Hours
Mon (9am-5pm), Tue/Thu (9am-6pm), Wed (10pm-5pm), Fri (9am-4pm)
Region
Entire UK. No agent option
Brand
5-25) Short Term Finance

Short Term Finance Loans

/£100 Price (16w)
£60

Borrow
£100 to £200
Choices
16w
Opening Hours
Mon/Fri (9am-5pm)
Region & Notes
S-East, S-West, W-Mid, Y&Hum. No agent option
Brand
5-25) Stewart Finance

Stewart Finance Loans

/£100 Price (28w)
£40

Borrow (Existing)
£100 (£500)
Choices
20w to 28w
Opening Hours
Not disclosed
Region
N-West
Brand
5-25) SwiftDL

SwiftDL Loans

/£100 Price (14w)
£45.04

Borrow (Existing)
£50 to £1600 (£3000)
Choices
14w to 52w
Opening Hours
Mon/Fri (9am-5pm)
Region & Notes
E-of-Eng, N-West, S-East. No agent option. Pause on lending (covid)
Brand
5-25) Valleys Finance

Valleys Finance Loans

/£100 Price (21w)
£49

Borrow (Existing)
£50 to £100 (£1000)
Choices
14w to 21w
Opening Hours
Mon/Wed (8.30am-4.30pm), Thu/Fri (9am-5pm)
Region & Notes
S-West, Wales, W-Mid. No agent option
END OF LISTINGS

Notes…

Agents: Optional no agent doorstep loans are available from E2, Morses Club, Short Term Finance, Skyline, Street UK, SwiftDL and Valleys. An initial home visit may be required. Payments would be collected weekly from your bank this way (perhaps even monthly with select providers).

Alexa.com: Comparison listings are sorted by global traffic rankings. Those unranked are sorted alphabetically (a large portion in this sector).

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

Closures: Carson Finance, Eccles Finance, Greenwood, Provida Loan, Rhodes Finance & Shopacheck. More recent: Central Finance, Provident & Provident Ireland.

Coverage: General coverage is highlighted in the comparison above. Shortcodes used: E-of-Eng (East of England), E-Mid (East Midlands), N-East (North East), N-West (North West), S-East (South East), S-West (South West), W-Mid (West Midlands) and Y&Hum (Yorkshire and the Humber). East of England coverage often extends to London. The specific locations catered will be explored in the profile listings. Some firms now offer an online process, but they may still be exclusive to a specific region.

Examples: Price comparison is tricky with doorstep lending due to the wide variation in fixed terms. There are usually 3 such options available and these tend to differ across competitors. To compare pricing, our aim was to pick out the nearest term sitting between 20 and 30 weeks for £100 (when available). To get a better idea on value, we calculated the daily rates below to identify the leading deals.

Products: Some product specs aren’t confirmed. Sometimes the info simply isn’t disclosed on the sites. To help fill in the blanks we usually added details from LendersCompared.org.uk. This comparison service was created by the government’s Competition Commission.

Cheapest Doorstep Loan Prices 2021 (Varied Terms /£100)

England

1) Street UK: £55.44 /£200 [£27.72] (26w) (0.152%)

2) Mutual: £30 (26w) (0.165%)

3) Stewart Finance: £40 (28w) (0.204%)

4) Estone Personal Credit: £41.75 (27w) (0.221%)

5) Cockle Finance: £50 (30w) (0.238%)

*Daily rates to 3DP were calculated to sort the rankings across varied terms.

Top Reviews 2021

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

1) Street UK: 89.0% (1030/1157)

2-3) No listings

Reviews.co.uk

No listings

Trustpilot.com (All-Time Data)

1) Skyline Direct: 98% (2180+)

2) Morses Club: 92% (2100+)

3) Scotcash: 76% (30+)

*Very few lenders use external review portals.

Recommended

Mutual Loans

Local: Mutual

Mutual doorstep loans are competitively priced and crammed with features handing them the recommendation. On pricing, for £100 they charge £30 (26w), £40 (51w) and £55 (102w). For a sizeable £1000 that’s just £400 at 51 weeks that is one of the cheapest bad credit loans across all sectors. Mutual’s experience is extensive, dating back to 1898. Over the years they have managed to build up a loyal customer base of 40,000. Some key features include the potential £1000 (£2500 on reloans) and repayments can be spread out fortnightly, monthly or weekly. Unfortunately, coverage is an issue. The popular cities Coventry, Leicester and Nottingham are served as well as various towns, but they’ll surely need to expand to challenge the top firms.

Morses Club Loans

National: Morses Club

Provident’s recent closure (resulting from compensation claims) is likely to greatly benefit the small localised firms who can now fight it out for doorstep loan market share. It is however Morses Club that takes on the top spot and they were already making impressive gains across the past year. They have excellent agent coverage across the UK. We appreciate their recent addition of online account management and the option to repay without agent visits. The product flexibility isn’t extensive here. This is where Provident stood out with their 13w to 52w (and 104w reloan) choices. They are also closed at weekends. Overall though, this is the best all-round service and it is certainly well received on Trustpilot where they now rate at 92%.

Last Update: June 17th, 2021