Compare Doorstep Loans

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Doorstep loans (or home collection loans) have been around for a long time now in the UK. The market share is controlled by Provident Financial Plc’s Greenwood and Provident brands with their company roots dating back to 1880. Shopacheck is the closest competitor that arises from Welcome Financial Services Ltd that is owned by Cattles Plc that itself dates back to 1927. The other doorstep lenders are mostly small organisations. To compare doorstep loans, the various details surrounding each company can be found below. These doorstep loan sites are mostly simple in their design with no such lender attached providing an account login feature (many don’t use SSL either). Many of these logbook lenders started trading offline and so the domain registration year and original roots (if noted) are both referenced.

Compare Doorstep Loans…

Provident Personal Credit (2000) (Provident formed in 1880)

Account login and SSL: No login
Agents: Over 11,000
Available: £100 to £500 (£2500)
Total 32 Week (8 Month) Charge: £60 per £100
Total Monthly Interest: 7.5%
Term: 14 to 52 weeks (110)
Trade Association: CCA members

+ Best price for doorstep loan (shared)
+ Highest number of agents (shared)
+ Largest figure of £2500 possible (existing customers) (shared)
+ Largest term of 110 weeks possible (existing customers) (shared)
+ Most experienced service (1880) (shared)
+ New online option available (no agent required)
– No account login

Greenwood Personal Credit (2001) (Provident formed in 1880)

Account login and SSL: No login
Agents: Over 11,000 (same quoted as Provident)
Available: £100 to £500 (£2500)
Total 32 Week (8 Month) Charge: £60 per £100
Total Monthly Interest: 7.5%
Term: 14 to 52 weeks (110)
Trade Association: CCA members

+ Greenwood’s stats are the same as they are above at Provident (without the online loan option)

Shopacheck (1997) (Cattles formed in 1927)

Account login and SSL: No login
Agents: Over 1700
Available: £200 to £500 (£1000)
Total 32 Week (8 Month) Charge: £180 per £300 (equates to £60 per £100)
Total Monthly Interest: 7.5%
Term: 32 or 50 weeks
Trade Association: CCA members

+ Best price for doorstep loan (shared)
– 2 Set terms only
– Must be aged at least 21
– No account login

LoansatHome4U (2006) (S&U formed in 1938)

Account login and SSL: No
Agents: Over 500
Available: £150 to £600
Total 32 Week (8 Month) Charge: £60 per £100
Total Monthly Interest: 7.5%
Term: 32 weeks only
Trade Association: No

+ Best price for doorstep loan (shared)
– Must be aged at least 21
– No account login and SSL
– No membership
– No price example provided. Lenders Compared provided the details, although they use a £100 example and the minimum figure here is £150
– Set term only

Morses Club (2009)

Account login and SSL: No
Agents: Not stated
Available: £100 to £150 (£1000)
Total 34 Week Charge: £70 per £100
Total Monthly Interest: 8.24%
Term: 34 or 50 weeks
Trade Association: No

– 2 Set terms only
– No account login and SSL
– No membership

KDS Finance (2011)

Account login and SSL: No
Agents: Not stated
Available: £50 to £500
Total 16 Week (4 Month) Charge: £44 per £100
Total Monthly Interest: 11%
Term: 16 weeks only
Trade Association: No

– No account login and SSL
– No membership
– Set term only

Notes:
– The loan process is usually slow with all of the attached lenders, since a designated agent must visit your house to complete the loan process.
– Weekly payments are usually collected on a set day (Provident for example collect on a Friday).