Doorstep loans in the UK refer to loan facilities disbursed primarily the borrower's home upon approval.
This article will serve as a good guide to doorstep loans, and the popular home credit lenders in the UK.
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Doorstep loans are also known as home credit due to the same fact that the cash is delivered to the customers home.
In the United Kingdom (UK) the minimum doorstep loan amount is £100 while the maximum is around £10,000.
Can doorstep loans be available online and to bad credit individuals? The answer is Yes.
Although with a lot of convenience, doorstep loans are a form of payday loans and for this reason it's an expensive form of borrowing.
The average interest, APR is around 650% .
Doorstep loans is a lso a short term form of loan facility. The loan repayment is between 26 weeks to 52 weeks (1 year) on average with different lenders.
Due to the advancement in technology,it is now possible to get doorstep loans disbursed into your bank account.
You can still ask for a doorstep loan via a phone call.
In the UK we have several doorstep loan lenders but for the purpose of this article, we'll list the most popular.
7 UK Popular doorstep loan lenders
Here's a list of UK's best and popular doorstep loan lenders;
1. Morses Club
Gives doorstep loans ranging from £200 to £1000 and the repayment duration is from 26 to 52 weeks.
The APR is 615.70%
2. Now Loan
Now loan provides a connection to the fast home credit lenders in UK.
Loans start from £100 to £10,000 disbursed directly to the customers doorstep.
3. Payday UK
Payday UK loans ranges from £50 to £5000 disbursed directly to the borrower's home.
There is no need for credit check if you want to take home credit loans from payday UK.
4. 786 Loans
Best for people on benefits without guarantors. 786 loans gives the fastest doorstep loans .
5. Cockle finance
This is another doorstep loans lender you can consider for fast home credit loans.
6. MyCreditBucks
Best for doorstep loans for unemployed in the United Kingdom.
7. Bridge Finance Limited
Bridge Finance is another popular doorstep loans lender in the United Kingdom.
Conclusion
Doorstep loans can be convenient when one needs short term loans for emergencies in the United Kingdom. It is however,not a very good way of borrowing and this is because the interest rates are high.
Sometimes,the loan collection can be inconveniencing to the customers as the doorstep loans lender visits the customers homes.
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