Doorstep Loans

If you’re looking for an alternative to doorstep loans, Little Loans may be able to help you.

We don’t offer doorstep loans, but we do work with a fantastic panel of trusted lenders who offer short-term personal loans between £100 and £10,000. You can choose to repay your loan over terms from 3 to 60 months, depending on how much you apply to borrow.

From poor to excellent, people with all credit scores are welcome to search for a loan using Little Loans.

You can search for a loan at a time and place that suits you and, unlike doorstep loans, our lenders will not call at your home to finalise your application or collect your repayments. Click here to start an application.

If you are matched with a loan, you will be redirected to the lender’s website to complete a full application, where you’ll be required to undergo some further checks, including a hard search. A hard search could remain visible on your credit file for up to 12 months, and too many hard searches over a short period of time may have a negative impact on your credit score.

What were doorstep loans?

Doorstep loans were also referred to as door-to-door or home credit loans. In the past, they were a way of accessing funds in the event of a financial emergency.

A representative from a regulated and authorised loan company would have come to your house to complete the loan application with you face-to-face. Doorstep loans were typically paid in cash and repayments were collected in the same way.

Doorstep loans offered a solution for those who did not want to or were unable to attend a branch. However, modern technology and the introduction of online loans has meant that people looking for a loan can do so on their phone or laptop instead.

Regulations set by the Financial Conduct Authority (FCA) around lending have also become tighter over the past few years to protect consumers from unregulated lending activity.

You can search for a loan with Little Loans with the reassurance that we, and all the lenders we work with, are authorised and regulated by the FCA.

Doorstep loans alternative

Little Loans could provide you with an alternative to doorstep loans. Our online form can be completed in under five minutes, and while some of the lenders on our panel may require you to finalise your application in a local branch, most applications can be completed online.

Things to bear in mind before you apply for a loan

It’s important to weigh up the pros and cons of any financial product before you make an application for credit.

• When applying for a loan, you should be confident that you’ll be able to comfortably afford your repayments without this affecting any of your other essential outgoings, such as rent or mortgage, utilities, and food.
• Falling behind on or failing to make your repayments could result in late fees and charges, financial stress, and a decline in your credit score.
• When choosing a lender or credit broker, make sure they are authorised and regulated by the Financial Conduct Authority (FCA). You can check to see if a company is on the FCA register here.

Who can apply for a loan?

Every credit broker and lender will have different eligibility requirements but, generally, you can apply for a loan if you:

• Are over the age of 18, although for some lenders, this could be 21;
• Have a UK address. Some lenders require 3 years’ worth of UK address history;
• Have a UK bank account and valid debit card; and
• Have a regular source of income paid directly into your bank account.

While Little Loans do not offer doorstep loans, you can search for a short-term personal loan with us if you meet the above criteria.

Can I get a loan with bad credit?

It might still be possible for you to get a loan, even if your credit score is looking a little worse for wear.

The lenders on our panel offer short-term, personal loans, and many are happy to consider applications from those with less-than-perfect credit scores.

From poor to excellent, people with all credit scores are welcome to search for a loan through Little Loans.

Bear in mind that if you are approved for a loan with bad credit, the interest rate you’re offered could be higher than those offered by mainstream lenders.

If I’m approved for a loan, how quickly can I receive my money?

Some of the short-term, personal loan lenders on the Little Loans panel can pay your loan on the same day your application is approved. Remember, the time it takes for the money to appear in your account depends on your bank’s policies and procedures.

If you have taken out a loan from an unregulated lender and are concerned or worried about your situation, then please know that help is available. You can find more information on illegal money lenders here.