Doorstep Loans

Doorstep loans, also known as home credit loans, are personal loans delivered directly to your home and repaid in person to a representative of the lender. These loans are ideal for individuals who prefer face-to-face service or may not have access to online or traditional borrowing options.

Representative 79.5% Rates from 48.1% APR to 1721% APR. The minimum Loan Term is 3 months. The maximum Loan Term is 36 months. Representative Example: £1,000 borrowed for 18 months. Monthly Repayment of £89.22. The total amount repayable is £1605.96. Interest amounts to £570.44, an annual interest rate of 59.97% (fixed) Representative APR: 79.5% (variable).

What Are Doorstep Loans?

Doorstep loans offer a more personal way to borrow, where a company representative comes to your home to talk through the loan, deliver the money, and collect repayments. They’re often used for short-term borrowing, with typical loan amounts ranging from £100 to £1,500, and repayment terms that can last up to 52 weeks. Because repayments are made weekly or monthly in person, they suit those who prefer face-to-face support or find online banking less accessible.

How Do Doorstep Loans Work?

You can apply online, over the phone, or by speaking directly with a local agent. If your application goes ahead, a representative will visit your home to discuss your financial situation and work out what’s affordable. If you’re approved, they’ll bring the loan money to your door. After that, repayments are collected weekly or monthly, usually in cash, at a time that suits you.

Benefits of Doorstep Loans

One of the main advantages is the face-to-face service. You can speak directly with someone about your loan and ask questions in person, which some people find more reassuring. Because repayments are collected at your home, there’s no need to travel or manage online transfers. These loans are also more accessible for people with poor or limited credit histories, as affordability tends to be more important than credit scores. And since the loan amounts are smaller, they’re often used for urgent, short-term expenses like unexpected bills or everyday essentials.

Things to Consider

Doorstep loans can cost more than other borrowing options. The interest rates are typically higher, which reflects the in-person service. It also means you’ll need to be comfortable with regular visits to your home from the lender’s representative, which not everyone prefers. And since these loans are for smaller amounts, they may not be suitable if you need a larger sum of money.

Alternatives to Doorstep Loans

If doorstep loans don’t meet your needs, consider:

Online Loans: Digital loans offer quick funding and are managed entirely online.
Credit Union Loans: Community-based loans with lower interest rates and flexible terms.
Short-Term Loans: Provide instalment repayment options over a few months.