As the name suggests, doorstep loans are loans which are delivered to your doorstep in the form of cash. At the same time, a representative from the loan broker or lender will come to your home to collect the weekly repayments. Let us look at when you should opt for these loans.
• Your credit history is less than perfect and mainstream lenders have refused credit to you
• You feel that the high street lenders are quite intimidating and want to deal face to face with people you are comfortable with and you can trust.
• You need the convenience of home visits to arrange your loan and to make the weekly repayments
• You don’t have a bank account and want to avoid the higher pressure of payday loans
What you should do if you need a doorstep loan
If you are in need of a doorstep loan then the best thing to do would be to approach a loan broker. The loan brokers in the UK have tie-ups with various lending agencies which provide specialist loans to borrowers with special requirements. If you try to approach lending agencies directly then you may end up in the hands of a loan shark or some other such unscrupulous lending agency. On the other hand, it is very confusing to choose from a large number of lenders in the market each claiming to be the best. Then again doorstep loans are usually short-term loans and hence carry a high rate of interest. However, if you go through a loan broker you can be sure of dealing with legitimate and reliable lending agencies which provide loans at an affordable and reasonable rate of interest.
When you have bad credit
If you have bad credit and need a loan even then your best bet is a reputable loan broker who can help you to get soft credit check loans. This does not mean that the lenders associated with the loan broker will not conduct a credit check because that is not legal in the UK. However, these specialist lenders will consider other factors like your current ability and intention to repay the loan on time. They will analyse your monthly income and expenditure and decide on the loan amount they should approve for you.
Of course, it is easier to get a loan if you have bad credit, but have someone to guarantee the loan for you. But not all of you may have someone to vouch for you and sign an agreement saying that they will repay the loan if you are unable to do so. At the same time, you may not want to discuss your financial problems with other people. In this situation also you can get doorstep loans without guarantor if you approach the right loan broker in the country. The specialist lenders associated with these loan brokers are only concerned with your ability to repay the loan on time. They do not need any other guarantee for approving the loan for you.
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