Morses Club
Looking for an alternative to a Morses Club loan? Little Loans could help you with your search.
Little Loans is a credit broker, and we work with a panel of trusted and responsible lenders, all of whom are authorised and regulated by the Financial Conduct Authority (FCA).
You can check your eligibility for a loan between £100 and £10,000 with no impact to your credit score.* Our service is free to use, and quotes are no-obligation.
*Little Loans uses soft search technology, which won’t harm your credit score. If you’re matched with a loan through our service and choose to make a full application, your lender will conduct a hard search. A hard search will remain on your credit file for up to 12 months and multiple hard searches in a short period of time could have a negative effect on your credit score.
Is Morses Club still offering loans?
Morses Club went into administration in November 2023 and is therefore unable to consider applications for loans.
What happened to Morses Club?
Morses Club was a UK-based lender of doorstep loans.
On November 17, 2023, the directors of Morses Club appointed Ed Boyle and Rob Spence of Interpath Ltd as Joint Administrators. The following statement was released on the Morses Club website:
“Morses Club has been under sustained financial pressure for some time, a situation which was exacerbated in recent years by it facing a significant number of customer redress claims […] The Company will no longer be able to issue new or additional loans for any new or existing customers. Any outstanding loans will still be collected as normal.”
Is Morses Club refunding customers?
Prior to going into administration, Morses Club dealt with a number of customer complaints regarding unaffordable lending. In May 2023, they started a Scheme of Arrangement. The scheme meant that customers were expected to be paid cash refunds at just 20% of their claimed amount.
Despite the scheme being in place, Morses Club was unable to refinance its debts. The scheme came to an end when Morses Club ceased trading.
In March 2024, all remaining loans were either written-off or handed over to debt-collection agency, Lantern.
Customers approved for a refund have reportedly had communication to confirm that they should receive the money owed to them by the end of 2024.
It is no longer possible to make a claim against Morses Club.
Can I search for a loan using the Little Loans credit broking service?
You’re welcome to use Little Loans to search for a loan if you:
- Are over the age of 18;
- Are a UK resident;
- Have a UK bank account with a valid debit card; and
- Have a regular source of income paid into your bank account.
How much money can I apply to borrow and for how long?
Little Loans is a credit broker, not a lender. The lenders on our panel offer loans between £100 and £10,000, with repayment terms from 3 to 60 months, depending on the amount of money you apply to borrow.
How quickly could I get my money?
If successful, your loan could be sent the same day your application is approved. It’s important to remember that each lender will have their own payout timescale, and the time it takes for the money to become available in your account will depend on your bank’s policies and procedures.
I have bad credit; what are my options?
If your credit score is on the low side, you might feel apprehensive about applying for a loan.
Having poor credit doesn’t necessarily mean that your application for a loan will be turned down. There are a number of lenders on the Little Loans panel who specialise in loans for those with bad credit and could be willing to consider your application.
Before you apply…
Regardless of your credit score, you should always think very carefully before applying for a loan. Loans are big financial commitments, and you must be certain that you can afford to make your monthly repayments, which will include interest. Falling behind on or missing repayments could cause serious money problems and will have a negative impact on your credit score.
How does the Little Loans process work?
Applying for a loan can be time-consuming and it can be difficult to know where to start. This is where Little Loans could help you.
1. Little Loans is a credit broker, with access to a panel of over 30 lenders. Tell us a little bit about yourself, how much money you’d like to apply to borrow and for how long - we’ll do the rest.
2. We’ll scan our panel of lenders for a suitable loan for you, with no impact to your credit score*.
3. If we find you a match, you’ll be to the lender’s website, where you can decide whether you’d like to make a full application. The lender will then carry out some further checks, including a hard credit search.
4. If the lender is happy with the outcome of their checks, you’ll be sent a loan agreement. You should take the time to read through this carefully.
5. Depending on the individual lender’s payout timescale, your money could be sent the same day your application is approved.
*Little Loans uses soft search technology, which won’t harm your credit score. If you’re matched with a loan through our service and choose to make a full application directly with the lender, a hard search will be carried out by that company. A hard search will remain on your credit file for up to 12 months, and multiple hard searches in a short period of time could have a negative effect on your credit score.
Worried about money?
Whatever you’re facing, please know that free, confidential advice is available through a range of charities and organisations, including StepChange, MoneyHelper, National Debtline, and Citizens Advice.
This article is from November 2024; all information was correct at the time of writing.
Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender