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. Unfortunately, due to Covid-19, we may not be able to arrange home visits in some regions. However, you can still apply for a loan online as part of our remote lending, subject to affordability. Read more about our coronavirus updates here. With a home collection loan you deal with a local agent face-to-face and work out the best loan for your needs and circumstances along with the corresponding repayment plan.
Your weekly repayments are collected from your home at a time that suits you, by your agent, who is your dedicated point of contact who will assist with any questions you might have or you can manage your repayments via our Customer App.
Home collected credit provides a straightforward way for customers to borrow money, with a friendly service. Loans are issued based on the outcome of your affordability assessment.
Home collection loans FAQs
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 or directly to your bank account.|
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 or you can do this online via our Customer App.|
Do you need a bank account?
|Our loans are available as either cash or on a pre-paid card, so a bank account isn't required for approval. However, if you do have a bank account, your loan can be deposited directly into it.|
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; you may not have a bank account, or you may simply just want to borrow the money in cash.
You could also have a poor or limited credit history. This can make it difficult to borrow money from banks and larger lenders. Morses Club will consider all applications individually, whatever your circumstances.*
What are the benefits of home collected credit?
If approved, 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.
You also get the benefit of clear and simple costs, so if your loan application is approved, 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.