Doorstep loans are popular here in the UK, with the dominant force within this niche being Provident (Provident Financial plc) who command around a 60% market share. Doorstep loans (or home credit loans) usually range between £50 and £500 for new customers spread out from between 14 weeks up to 52. After applying, a designated local agent will drop off your cash and then return each week to collect a payment that will be marked in your payment book. Because the loan period terms are longer than other subprime loans, this means that the customer only has to make small payments, which are more manageable. Provident is the dominant force, which has a lot to do with the major lenders being part of their company. These doorstep loan lenders are Greenwood Personal Credit and Provident Personal Credit. The other major doorstep lender is Shopacheck Financial Services, a product of Welcome Financial Services.

Compare Doorstep Loan Rates…
Provident | £300 loan over 31 weeks @ £15 = £465 (55%)
Shopacheck | £300 loan over 32 weeks @ £15 = £480 (60%)
Greenwood | £300 loan over 33 weeks @ £15 = £495 (65%)

Other UK Doorstep Lenders…
Loans at Home 4U | £300 over 32 weeks @ 15 = £480 (60%)
Morses Club | £300 over 33 weeks @ £15 = £495 (65%)

For the above rates, Shopacheck only provide one such loan example as shown above. Greenwood and Provident both provide loan calculators and so it was easy enough to mark out a £300 loan paying £15 per week; it was simple enough to then calculate the interest that you would pay on the specific loan amount. I wouldn’t bother using APR rates here, as that is an annual calculation and these loans range over months. Just to add that with the payment terms you can’t choose the specific number of weeks. Each lender has different terms for example being 14, 23, 31 or 52 with Provident. Greenwood from the same company allow only 14 or 33 and Shopacheck don’t specifically state on their site. All such doorstep loans are not instant, with the cash usually being delivered within 48 hours. Bad credit is welcomed by each lender.

Recommendation: Provident Personal Credit (10 Reasons)…


Age: Loans available from 18 (same with Greenwood). Shopacheck is 21 minimum.
Amounts: Returning customers have access to £2500 (same with Greenwood).
Bad Credit: CCJs, no bank account loans and unemployed loans.
Cost: Cheapest doorstep loan lender of the bunch by 5%.
Company: Has been operating for over 125 years.
Coverage: Over 11,000 agents, so plenty of UK coverage.
Ireland: As well as the UK coverage, they also operate in Ireland.
Leader: The market leading lender, although Greenwood is also part of Provident.
Payments: From personal experience, you can make over payments at any time.
Terms: They stretch to 52 weeks for new customers (longest period available).

(common misspellings/related: compare home credit loans, doorstep loan comparison, doorstop loan, high acceptance loans, manageable loans for poor credit)