How To Qualify For Doorstep Loans?

Ailsa Adam June 6, 2019

Availing the financial convenience at your home is certainly a luxury. Fortunately, with time this luxury is becoming even more accessible for the people from various backgrounds. Yes, the hint is about the doorstep loans that serve a vast range of borrowers. They are versatile, flexible and unquestionably useful in tough financial times. These are also known as home credit or doorstep cash service.  Application procedure is quite easy and people get the money at their doorstep. However, regarding the eligibility, people have some doubts. If you have some too, the points below will help you get clarity.

Firstly, like any other type of loan, doorstep or home credit has two categories of SECURED and UNSECURED. Let us take them one by one.


These are the loans of long tenure and give the liberty to borrow big amount of money. This gives stability for a long time.

Obligations – As the loans are secured, the applicant needs to provide a security either by providing collateral or guarantor. Whatever you provide, it should be present at the time when the agent of the lender visits your home.

Interest rates and repayments – The rate of interest is pleasantly low and monthly instalments are small. The applicant feels no burden of repayments. The schedules of repayments are flexible too.


These loans are of short-term duration and the applicants use this option to borrow small amounts. This category of doorstep loans in the UK is quite popular.

Obligations – There are no obligations of collateral and guarantor. But yes, the lender will demand the current financial status of the applicant. In case of poor credit scorers, these records become more important. If the applicant is having satisfactory financial situation in current times, the lender can easily avoid the issue of bad credit scores.

Interest rates and repayment – The interest rates in such loans are comparatively higher because lender does not demand any security. However, according to the financial capacity of the borrower some adjustments can be made. For people with good credit scores, there is a bright hope of getting rebate on rates.

On the other hand, in the case of bad credit borrowers, if the applicant is not bearing the poor scores from long, the lending company may think to give some relaxation. Besides, an intentional help is provided to the customer by making suppler repayment schedules. This inspires timely payments of monthly installments and boost in credit ratings. These are among the most sought-after loans for poor credit. Clarity on the eligibility saves a lot of time and gives you confidence to pick the right option. To take an informed decision, it is necessary to stay aware of the basic requirements of the lenders. Also, tell everything clearly to your lender. They also need reasons to clear their mind about the borrower. It helps them, help you.

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