Frequently Asked Questions

  1. What loans are available on this site?
  2. Why are there no bank loans on the site?
  3. Why can't I apply for a loan through the site?
  4. Why do the loans on this site have such high APRs?
  5. How do I get more information on these loans?
  6. How do I apply for a loan?
  7. Do I have to put up any security to get a loan?
  8. Is there any payment protection insurance?
  9. What happens if I fall behind on repayments?
  10. What is home credit / home collected credit?
  11. How do I compare cash loans on this site?
  12. What is Total Charge for Credit?
  13. What happens if I miss a payment?
1. What loans are available on this site?
LendersCompared.org.uk provides information on small loans, typically from fifty up to a few thousand pounds, where collections are made in cash. Home collected loans are those where an agent calls at your home to collect repayments. Other cash loans are also included where the repayments are made in cash at a local collection point or office.
2. Why are there no bank loans on the site?
Most banks only take repayments by direct debit, and are not included on this site.
3. Why can't I apply for a loan through the site?
To maintain independence from lenders this site doesn't accept applications for loans directly. Please contact the lender using the information provided to apply for a loan.
4. Why do the loans on this site have such high APRs?
The APR is generally high for short term loans, and will include any costs of home collection. We recommend looking at the total charge for credit as a better indication of value, although the APR may be useful when comparing loans of similar duration.
5. How do I get more information on these loans?
Please contact the lender to find out more information about these loans.
6. How do I apply for a loan?
Please contact the lender to apply for a loan.
7. Do I have to put up any security to get a loan?
No, you will not normally be required to put up any property or other security in order to get these loans.
8. Is there any payment protection insurance?
Most home credit loans will not come with payment protection insurance offers. Most credit union loans come with loan protection insurance at no cost to the borrower. This means that you will not leave a debt behind if you die whilst repaying the loan. Some credit unions also offer extra insurance against unemployment or disability but this is optional and not taking it won't affect your ability to get a loan.
9. What happens if I fall behind on repayments?
Please contact your lender and explain the situation and you may be able to agree a satisfactory solution.
10. What is home credit / home collected credit?
Home credit is also known as home collected credit. When using home collected credit an agent will call at your house (normally weekly) at an arranged time to collect your payments.
All the costs are fixed and up front, and you will not normally be charged any extra for missed or late payments. Where a lender makes such charges they must detail them on this site.
11. How do I compare cash loans on this site?
Enter the amount you wish to borrow, over how long you want to borrow it for and your postcode. Then choose whether to look at home collected loans or all loans. You can also choose how to sort your results, the best way being Total Charge for Credit as this shows you how much more than the original borrowed you will have to pay back.
12. What is Total Charge for Credit?
Total Charge for Credit is the best measure of value for short term loans. It shows you how much it will cost you to borrow the amount you want.
Are there any late payment fees or extra charges? Most home collected loans will have no extra charges. Where they do it will be clearly indicated on the advert.
13. What happens if I miss a payment?
Please contact your lender or agent who will agree a solution with you. Most home credit lenders won't charge you extra for missed payments, and where they do it will be clearly indicated in the advert.