Not every day is same, one day differs from another. One day, you are fit and at another, you are not even able to stand up. It can happen because of any accident, surgery or disease and another reason like the pregnancy for a woman. All these situations need the high supervision of an expert caretaker to provide the proper treatment and care, whatever is needed in any case. A pregnant woman might take care of herself, if she is fit but in the last months, she needs supervision. What if she is about to become a single mother or a person, who is disabled, needing money to manage the basic expenses? The government offers various allowances to every individual to help them in any situations but the transfer of the money takes time.
People, who are mentioned above or even the people, who do not have job, feel the most vulnerable many times in life. By considering all of these cases in mind, various direct lenders have come up with the financial product known as doorstep loans.
Definition, eligibility, procedure and advantages:
Doorstep loans are also known as doorway loans because these are provided at the home of the loan applicants. A loan seeker does not need to go outside and the financial representative comes himself to the borrowers’ home. This is why these loans are called as home credit loans too.
A native of the UK, with the minimum age criteria of 18, can apply for these loans. There is a condition that the person must have any of the following elements:
- good credit history
- fixed income status
- guarantor or collateral
Note: Few lenders may accept the average credit history also but for that, you have to do an extensive research on the lending institution. One more thing is do not apply without doing research on any of the lender so that you can understand the eligibility criteria and match it with your ability to fulfill it.
Procedure of doorstep loans:
After doing the research on the lenders and selecting one lender, go on to its website and fill an online application form carefully and then submit it to the lender. The financial representative of the company will communicate himself to you to fix the meeting, as the borrower needs not go out and financial representative comes himself to the home of the loan seeker. Fix the timings and be available on it. Confirm the details to the lender and after that, it is up to the rules and regulations of the lending company that they confirm you for the approval or not on the doorstep loans in UK.
Advantages of Doorstep Loans:
People, who are medically unfit or unemployed and do not have money to travel, can get the home services, which is one of the best thing for them. Being sitting at home, you can apply, attend the meeting and get the approval through an online mode.
With the overall online presence, the procedures of these loans are easy, which can also be said hassle-free.
Saved time and efforts:
A person can save his time and efforts by not going anywhere and getting the transfer of the funds.
Financial solution for everyone:
Any individual, who has bad credit scores, no income status, no guarantor or collateral can even apply for these funds with the flexible repayment period.
Learn how to repay money on time
Being a disabled, unemployed person, a pregnant woman, who is going to become a single mother, you can repay the money on time to the lender. It can happen by doing some freelancing jobs or taking the responsibility of any projects related to your knowledge. People, who have skills like painting, writing and any other useful skills, can also earn by working at home.
Even if they are not able to do anything then they can choose a repayment date, which comes a day or two days after the transfer of the benefits of the UK government so that even if the allowance will be delayed. The credit profile will not be tainted with the negative credit hit. Candidates are also suggested to take the small amount of loans, which can be repaid by them on the decided date. Take care, get well soon!