Compare Us To Doorstep Lenders

Doorstep lenders have a long history of working in the UK and many other countries. As their name suggests, they come to your door to offer loans (often in the form of cash loans and the repayment happens in the same way). On this page, we would like to explain why you should think twice before taking out a doorstep loan.

UK based doorstep loans are personal loan companies that are notorious for getting their customers to pay through the nose. Street UK aim to stop that by being an ethical direct lender that only charges what we need to in order to keep things up and running.  

Why not ditch the doorstep loans and apply for a Street UK loan

Doorstep Loans Explained

Most doorstep lenders are commercial companies whose only objective is to provide maximum returns for their shareholders. This means they are often run by people who are only concerned with their profit margin and shareholders investments. This extra cost is passed on to you, the customer, meaning you pay a higher interest rate.

Doorstep companies usually have a local agent who will visit the customer to process applications and (where a loan is approved) provide them with a cash loan. Loan repayments are collected from the doorstep, usually on a weekly basis.

Customers who typically tend to use doorstep lenders are either on low income or benefits and may have poor credit, having to manage their day to day finances via cash.

The interest rates charged by doorstep lenders can be upwards of 433% APR, which is extremely expensive if you are on a low income or benefits.

Doorstep Lenders vs. Direct Lenders In The UK

Street UK is a social enterprise that provides access to affordable credit to individuals in the West Midlands, who have difficulty in getting credit from banks and may use alternative high-cost sources such as doorstep lenders.

As a social enterprise we do not have any shareholders and our interest and fees are only designed to cover the costs of providing our services.


How is Street UK Cheaper?

Our personal loans are available from £200 to £2,000 payable over 12 months – 18 months on a payment plan that suits your income, so you can pay weekly, fortnightly, four-weekly or monthly.

Our loan application process is quick and simple, and once you’re approved for a loan we’ll transfer funds into your account and collect loan repayments via Direct Debit from your bank account. If you do not have a current bank account then Street UK may be able to help you to open one.

Below is a simple comparison between Street UK and a couple of doorstep lenders for both a short and longer term loan.

Company Loan amount Term APR Weekly repayment Total Cost of Credit payable
Street UK £400 52 Weeks 180% £11.82 £634.64
Morses Club £400 52 Weeks 342.94% £15.00 £780.00

Over 52 weeks that’s a saving of £145.36!


Company Loan amount Term APR Monthly repayment Total Cost of Credit payable
Street UK £1000 18 Months 115% £96.47 £1736.46
Loans 2 Go £1000 18 Months 770% £47.44 £2035.08

Over 18 months that’s a saving of £298.62!

Comparison rates are correct as of 23-05-2022. Sources: and Loans 2 Go – Online Personal Loans

Apply for a direct loan with us.

Our Direct Lending Service

Stop the knock!

We don’t knock on your door, instead, you can either complete our online application or book an appointment at one of our branches in Birmingham, Walsall or Wolverhampton.

You are more than a credit score to us. We take into consideration your situation and understand that sometimes you need to put your trust in the customer. We offer loans that are designed for people with poor credit or those who are on benefits. We believe in creating and maintaining a relationship with the customer.

Our friendly staff will help you to complete your loan application. At Street UK we make responsible lending decisions to make sure we only lend to individuals who can afford a loan and by providing credit we are not over-indebting an individual.

Once your loan is approved we’ll transfer money into your bank account and start collecting repayments on an agreed date.

Our friendly staff will help you with budgeting advice, opening a bank account and show you the way to sort out any previous outstanding debt, all to help improve your financial health and wellbeing.

So if you need an affordable loan then get in touch with us and we’ll try to help.


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