The major benefit of a doorstep loan is that you can receive instant cash delivered directly to your front door.
You don’t have to leave your home to make repayments and will have a dedicated loan agent working to meet your needs.
We have all been in that tight spot, where we are home bound but still need to make ends meet. Whether you need money for bills, during a stint you are out of work, or money to pay for medical bills, after an accident, cash loans at your door may be the route not help you get the money you need.
How it works
Once you have picked the company you would like to work with and make sure they are properly licensed by the FCA. An agent will come to your house and explain, in detail, the loan type, agreement, and payment terms.
Normally the doorstep loan is for a small amount since it is not meant to be a mortgage or home equity line of credit. Nonetheless, most companies do still require a credit check. The basic idea is this loan is a personal loan made with your home as the collateral or security asset.
The terms and conditions of each company’s loan and repayment period varies, but generally the local agent that comes and speaks with you will come to your home weekly to receive payment for your loan.
The nice thing about this is you are rewarded by having the convenience and do not have to leave your home. The loan decision usually takes a very short amount of time for approval and the interest rate is fixed, so you don’t have to worry about your payments ever going up.
When you are in a tight spot and just need help getting through the next one or two pay checks or a few months, this is a great form of loan. Doorstep loans provide cash in your hand immediately and can resolve any financial difficulties or issues. The convenience of the personal services can be a big help if you are unable to leave your home.