Doorstep Loans
Looking for doorstep loans? At Lending Stream, we offer an alternative. You can apply online and if approved you can get the cash you need without leaving the comfort of your home. We offer short term loan amounts ranging from £50 to £800 for new customers and from £100 to £1500 for existing customers.
Representative Example: Given a Representative APR of 1271%, if you borrow £300 over 6 months at 292% p.a. (fixed), you would owe 6 equal repayments of £96.39. You will repay £578.36 in total.
Not all applications will be approved for a loan. An offer of credit is subject to status and affordability checks.
Why choose Lending Stream for Doorstep loans?
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Lending Stream is a FCA authorised and regulated direct lender, offering short-term loans without any hidden fees.
No early repayment fees
Repay in 6 monthly instalments. We don’t charge for early repayment.
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Apply online 24/7 with decisions in seconds. If approved, cash is sent to your bank in 90 seconds.*
What are doorstep loans?
Doorstep loans are a type of personal loan, conducted by agents who visit your home. They’re also known as home credit loans, home collected loans, or door-to-door loans. Doorstep loans are usually short term loans. They’re usually for fairly small amounts of cash, generally ranging from £100 to £2,000.
Doorstep loans are generally aimed at people who have difficulty accessing mainstream loans. Instead of going to the bank or applying online, doorstep lenders send agents directly to your home.
At Lending Stream, we offer an alternative. We aim to provide a straightforward online application process with quick decisions. If you want to borrow money from the comfort of your own home, you can apply online with us. We also don’t ask for any guarantors.
With our online loan application process, you can apply for a loan in minutes. You’ll get a decision almost instantly.
How can I check if I’m eligible for a doorstep loan in UK?
Most doorstep lenders will have information on their website that will help you figure out if you’re eligible. They may even have an online eligibility checker. While credit score will be a factor, it may not be the only one. A doorstep lender will generally want to check that you have a stable income to afford the repayments.
At Lending Stream, we provide a clear, simple and fast way to meet your unexpected expenses. If you are looking to apply for a loan with us, then you must:
- Be a UK resident.
- Have an active bank account.
- Have a valid debit card.
- Be at least 18 years old.
- Be in regular employment with a monthly income of at least £400.
During our application process, we might ask you to show proof of your income. As a responsible lender, we do this to ensure that you can comfortably afford the loan repayments.
Representative 1271%APR
How to apply for a doorstep loan?
To apply for a doorstep loan, you can follow these steps:
- Research and compare lenders: Search for doorstep lending companies and compare what they offer. See which one suits your needs and offers the best terms for you.
- Fill and submit application: You’ll be able to fill in details online or perhaps over the phone. Once you’ve applied the lender may send an agent to visit you and finish the paperwork.
- Home visit and assessment: Once your application is received and processed, the lender’s agent may schedule a visit or a call with you. During this visit, they will check your documents to verify your identity, income, and address. The agent will also discuss the loan terms and may assess your affordability. They will also help you to complete the necessary paperwork.
- Loan approval and disbursement: If your application is approved, the Agent will either deliver the loan amount to your doorstep in cash or alternatively some lenders transfer it into your bank account . Depending on the lender, the approval process may take a few days.
Not everyone wants agents to come to their home. So, at Lending Stream we do it all online. If you’ve checked your eligibility and want to apply for a loan with us, you can do that at home. Just fill out our online application form and give us the following information:
- Some personal details.
- The amount which you want to borrow with us.
- Your employment, salary, expenses, and banking details.
Once we receive your application, we’ll run a credit and affordability check. This is to make sure you can comfortably afford the repayments. If approved, we will send the loan to your bank within 90 seconds. It may take longer to reach your account, depending on your bank’s processes.
Representative 1271%APR
How do doorstep loans work?
Doorstep loans can involve visits to your home by an agent or contact over the phone. The agent will discuss the loan terms with you and check if you can afford the loan. They will complete your loan paperwork and if approved, they will either deliver the approved amount to you in cash or some lenders will transfer it to your bank account.
The payment schedule of your doorstep loan is generally setup on a weekly basis although some lenders may offer a monthly repayment. The agent from the lending company may visit your home to collect the payment.
At Lending Stream, we provide an even more convenient solution. To get started for a quick loan with us, you’ll need to fill out our online application form. Just fill in any required personal and financial details.
Once you’ve completed the application and submitted it, we’ll review it. And we’ll give you an instant decision. If you’re approved, we’ll send the agreed amount to your bank within 90 seconds*. We even consider people with poor credit history.
Representative 1271%APR
Who needs doorstep loans?
Doorstep loans can be a good option for people who have urgent, unexpected bills or financial needs. Doorstep lenders are also a type of direct lenders who consider those with bad credit. This can give them an opportunity to rebuild their credit score by responsibly making the repayments on time.
However, it is important to remember that these loans often have higher interest rates. Not managing them correctly can lead to damaging your credit file.
How to find doorstep loans near me?
There are still some doorstep loan providers in business, so you may be able to find doorstep loans near your location. You might need to search online to find out if there are lenders who offer doorstep loans in your area or near you. It might also be worth looking at local business directories for information about doorstep lenders.
What can I use doorstep cash loans for?
Doorstep cash loans can be for various purposes. Here are some common scenarios where doorstep loans can be helpful:
Utility bills
It’s important not to rely on loans to cover regular bills. But if you’ve had some unexpected expenses, you may have cash flow problems. In these situations, a doorstep loan could help you through a short-term cash-flow crisis.
Unexpected home repairs
Unexpected repairs or maintenance issues at home can require urgent repairs. Whether they’re a broken appliance or a leaky roof, they sometimes can’t wait. Doorstep loans could be a useful short-term solution here.
Vehicle repairs
If your car or any other vehicle needs repairs, that can cause problems until they’re fixed. Doorstep loans could be a useful way to deal with them and get back on the road quickly.
Remember that a doorstep loan is a short term financial solution. It’s important to borrow responsibly and only borrow what you know you can repay.
How quickly can I get approved for urgent doorstep loans?
The approval process for urgent doorstep loans usually depends on the lender. It’ll also depend on your individual circumstances. UK doorstep loans are generally pretty quick in terms of decision times.
You’ll probably get a fast decision once you’ve completed the paperwork. It may take a few days to actually get the money though.
If you are applying for loans online with Lending Stream, you won’t need to wait. We’ll review your application immediately, and you’ll get an instant decision. If you agree to a loan offer from us, we’ll transfer the funds to your bank within 90 seconds*.
How much money can I borrow with a doorstep loan?
The amount you can borrow with a doorstep loan depends on the lender. It will also depend on your income, and what you can afford to repay. Most doorstep lenders typically offer loan amounts ranging from £100 to £2,000, or even more.
At Lending Stream, we offer short term loans from £50 up to £1,500 for existing customers and £100 up to £800 for new customers. It’s important to borrow responsibly and only take out a loan you know you can comfortably repay.
What if my doorstep loan application is declined?
If your doorstep loan application is declined, it’s important not to get disheartened. There can be many reasons behind your loan getting declined. It could be concerns around what you can afford to repay or issues with the information the lender needs.
It may be worth checking your credit record, to see if there are issues that you may be able to fix.
FAQs – doorstep loans
Are doorstep loans legal?
Yes. Doorstep loans are legal in the UK, but only if the lender is authorised. Doorstep lenders must be authorised by the Financial Conduct Authority (FCA). Only then are they allowed to provide credit.
Can I get a doorstep loan with bad credit?
Yes, you can apply for a doorstep loan even with bad credit rating. But you should be aware that the interest rate is likely to be high due to the risk involved.
Can I get a doorstep loan with no credit check?
Most FCA-registered companies conduct credit checks as part of their standard procedures, although it is not a mandatory requirement. The decision to perform a credit check typically depends on the nature of the services being provided and the individual company’s policies.
Can I get a doorstep loan if I am unemployed?
You might be able to get a doorstep loan if you show you can afford the repayments. This is likely to be more difficult if you’re not employed.
Can I get a doorstep loan if I am on benefits?
You might be able to get a doorstep loan, even if you are on benefits. But you will probably be asked to show proof you can afford the repayments. If you’re looking for a loan, you may not be getting all the benefits you are entitled to. You might be able to find out more by using the BenefitsGlance tool at afforda.co.uk.
Can I repay my doorstep loan early?
Yes, you can repay your doorstep loan early. There are lenders who allow early repayments. In pay weekly doorstep loans, you can pay extra weekly repayments and save on interest.