What is home collected credit?

A home collection loan, also known as a doorstep loan, is a type of personal credit that’s delivered directly to your door. With a home collection loan you deal with a local agent face-to-face to work out the best loan for your needs and circumstances and the corresponding repayment plan.

The repayments are collected from you at home by your agent, who will be your dedicated point of contact and help you with any questions you might have.

Home collected credit has been around for long time, with a history dating back at least 100 years. This personal form of lending provides a straightforward way for customers to borrow money, with a friendly, face-to-face service.

Home Collection Loans FAQs

Question Answer
What is a home collection loan? A home collection loan is a cash loan, which is delivered to your home through a network of local agents.
What is the difference between a doorstep and a home collection loan? They are the same type of loan, as both loans are completed in your own home and an agent will visit you each week to collect your payments.
Do you need a bank account? Home collected loans are available as either cash or on a pre-paid card, so a bank account isn't required for approval.
How do I apply? You can apply online using our simple online application form.

Why use home collection loans?

A home collected cash loan can be a good option for many reasons, such as not having a bank account, or that you’d simply prefer to borrow money in cash.

You may also have a poor or limited credit history, which can make it difficult to borrow money from banks and larger lenders. Morses Club consider all applications individually, whatever your circumstances*.

What are the benefits of home collected credit?

One of the biggest benefits of home collected loans is the friendly, face-to-face service, with a dedicated agent always there to answer questions and be your point of contact.

It's also a convenient way to borrow money, with the cash being delivered directly to your home and weekly repayments picked up by your agent.

You also get the benefit of clear and simple costs, so you know exactly how much you will repay from the start. We don’t charge missed or late payment fees, and you’ll get a fixed rate of interest so everything is clear upfront.

*Excludes people who have been declared bankrupt, applied for Sequestration, had a Debt Relief Order or an Individual Voluntary Agreement within the past 6 years.

Representative Example:

£200 loan repayable over 20 weeks at £15.00 per week, Rate of interest 50% fixed; Representative 756.5% APR, Total Amount Payable is £300.

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