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Compare Doorstep Loans: Bad Credit Direct Lenders

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. Provident’s biggest rival today (Morses Club) themselves can be traced back early to 1878, although this was as a general drapery store. Provident’s level of dominance hasn’t really been troubled throughout their long history. Today they have approx 400,000 customers and employee 3800 staff. Morses Club are their nearest competitor with around 230,000 customers on their side. They became a much greater force when they merged with Shopacheck.

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 you’ll see below.

About: Niche

Doorstep lending is subprime specialised, where people with bad credit and low incomes are the target audience. The product cost isn’t too bad, 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. The same fixed terms don’t tend to be available across competitors. 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 always say no. The 2 biggest sector brands have been savvy enough to launch web equivalents. Provident has Satsuma and Morses operates with Dot Dot.

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

UK Ranked

Brand + Alexa Rank
1) Provident | #47,651
/£100 Price (26w)
£56
Borrow (Existing)
£100 to £1000 (£2500)
Choices (Existing)
13w to 52w (104w)
Opening Hours
Mon/Fri (8am-8pm), Sat (8am-5pm)
Region
Entire UK

Globally Ranked (Only)

Brand + Alexa Rank
2) Mutual | 3.7m
/£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 + Alexa Rank
3) Morses Club | 4m
/£100 Price (20w)
£50
Borrow (Existing)
£100 to £400 (£1000)
Choices
20w to 52w
Opening Hours
Mon/Fri (9am-5pm)
Region
Entire UK
Brand + Alexa Rank
4) Provident Ireland | 4.8m
/€100 Price (26w)
€30
Borrow (Existing)
€100 to €600 (€2000)
Choices
26w to 52w
Opening Hours
Mon/Fri (8am-8pm), Sat (8am-5pm)
Region
Republic of Ireland
Brand + Alexa Rank
5) Naylors Finance | 5.9m
/£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 + Alexa Rank
6) Loans at Home | 11.6m
/£300 Price (24w)
£180
Borrow
£200 to £750
Choices
24w to 45w
Opening Hours
Mon/Fri (8am-7pm)
Region
England, Scotland, Wales
Brand + Alexa Rank
7) Pinewood Finance | 11.7m
/£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

Unranked (Alphabetically Sorted)

Brand + Alexa Rank
8-25) Arena Personal Credit
/£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 + Alexa Rank
8-25) Bee Finance
/£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 + Alexa Rank
8-25) Brantwood Finance Company
/£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 + Alexa Rank
8-25) Bristol Finance
/£100 Price (24w)
£44
Borrow
£30 to £1000
Choices
14w to 43w
Opening Hours
Mon/Fri (9am-5pm)
Region
S-West
Brand + Alexa Rank
8-25) Careys Personal Credit
/£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 + Alexa Rank
8-25) Central Finance
/£100 Price (30w)
£50
Borrow (Existing)
£100 to £200 (£1000)
Choices
15w to 30w
Opening Hours
Mon/Tue (10am-1pm), Thu/Fri (10am-1pm)
Region
Northern Ireland
Brand + Alexa Rank
8-25) CLC Finance
/£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, E-Mid, Y&Hum
Brand + Alexa Rank
8-25) Cockle Finance
/£100 Price (30w)
£50
Borrow (Existing)
£100 (£1000)
Choices
30w
Opening Hours
Mon/Fri (9am-5pm)
Region
E-of-Eng
Brand + Alexa Rank
8-25) Diamond Financial Services
/£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 + Alexa Rank
8-25) E2 Finance
/£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 + Alexa Rank
8-25) Ealing Trading Company
/£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 + Alexa Rank
8-25) Estone Personal Credit
/£100 Price (27w)
£41.75
Borrow
£50 to £1000
Choices
12w to 102w
Opening Hours
Mon/Thu (9am-5pm), Fri (9am-1pm)
Region
W-Mid
Brand + Alexa Rank
8-25) HomeChoice
/£100 Price (27w)
£62
Borrow
£50 to £1000
Choices
15w to 52w
Opening Hours
Mon/Fri (9am-6pm)
Region
Y&Hum
Brand + Alexa Rank
8-25) Short Term Finance
/£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 ongoing agent
Brand + Alexa Rank
8-25) Skyline Direct
/£200 Price (20w)
£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
8-25) Stewart Finance
/£100 Price (28w)
£40
Borrow (Existing)
£100 (£500)
Choices
20w to 28w
Opening Hours
Not disclosed
Region
N-West
Brand + Alexa Rank
8-25) SwiftDL
/£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
Brand + Alexa Rank
8-25) Valleys Finance
/£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, Skyline, SwiftDL and Valleys. Short Term Finance is noted above as “No Ongoing”. This means that reps will be sent to deal with the contract, but once joined you’ll need to repay through banking. Arrangements like this may differ from a simple standing order, to a CPA or perhaps to frequent debit card payments.

Alexa.com: Comparison listings are sorted by traffic rankings. Groupings: 1) UK ranks, 2) Global ranks (no UK) and 3) Unranked (sorted alphabetically).

Closures: Carson Finance, Eccles Finance, Greenwood, Provida Loan, Rhodes Finance & Shopacheck. EasyPay Midlands remain active, but they now only promote shopping options.

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.

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 2019 (Varied Terms /£100)

England

1) Mutual: £30 (26w) (0.165%)

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

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

4) Cockle Finance: £50 (30w) (0.238%)

5) Bee Finance: £55 (31w) (0.253%)

Northern Ireland

1) Central Finance: £50 (30w) (0.238%)

Republic of Ireland

1) Provident Ireland: €30 (26w) (0.165%)

Wales

1) Provident: £56 (26w) (0.308%)

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

Top Reviews 2019

Feefo.com (12 Month Data)

1) Provident: 96% (3480+)

2) No 2nd listing

3) No 3rd listing

Reviews.co.uk

No listings

Trustpilot.com (All-Time Data)

1) Skyline Direct: 99% (1650+)

2) Morses Club: 93% (1500+)

3) Provident: 21% (60+)

*Very few lenders use external review portals.

Recommended

Mutual Loans

Local: Mutual

Mutual doorstep loans are by far the cheapest. 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 if they plan on challenging the market leader.

Provident Loans

National: Provident

There are a few doorstep loans like Provident if extensive coverage is required noting Loans at Home and Morses Club. It is however the market leader that would edge is as the best all-round nationwide service. Alike Mutual, new customers can receive £1000 and those with trust can move up to £2500. This firm has dominated the sector and boasts the most historic past dating to 1880. Provident’s Feefo rating of 96% with almost 3500 reviews is notable since Feefo validates transactions whilst this isn’t the case with Trustpilot. Provident’s support team is also reachable on Saturdays between 8am and 5pm. If a no agent loan is required then simply head to Satsuma Loans.

Last Update: May 3rd, 2019

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