FAQ's

Agents are the friendly, helpful people who make weekly visits to our customers.

There are over 240 employed agents, and many of them used to be our customers. They are friendly, local people who are:
 

• Helpful
• Understanding
• Easy to talk to
• Provide your credit
• Collect your weekly repayments
• Help you manage your borrowing

They understand your circumstances and many were customers before becoming agents

Click here to Apply for a £100-£1,000 cash loan today and a friendly local Agent will call at your home to help you with your application.

Click here to see if we cover your area

Our main areas are in the wider East Midlands and also cover East Anglia, South Yourkshire as well as Warwickshire and Oxfordshire.

Towns and cities we cover include but are not limited to:

• Leicester
• Coventry
• Warwick
• Rugby
• Banbury
• Loughborough
• Melton Mowbray
• Northampton
• Bedford
• Nuneaton
• Tamworth
• Cannock
• Market Harborough
• Norwich
• Lowestoft
• Great Yarmouth
• Nottingham
• Corby
• Kettering
• Oxford
• Peterborough
• Stamford
• Huntingdon
• Wisbech
• Wellingborough
• Rushden
• Mansfield
• Chesterfield
• Worksop
• Derby
• Milton Keynes
• Doncaster
• Goole

We offer home collected credit loans where an agent will call at your house weekly to collect your repayments. Home collected loans are sometimes known as:

* Doorstep loan    * Home Credit loan    * Agent loan

* £500 loan    * short term loan    * tenant loan

* collected loan    * bad credit loan    * quick loan

* cash loan    * small loan

As a new customer:
You could borrow between £100 and £1,000, depending upon your personal circumstances and the weekly repayment you can afford.

Use our Loan Calculator now to see how much you could borrow and if you’re using another lender how much you could save.

As an existing customer:
As a current mutual customer we can lend you up to £2,500.

As you build up a good credit rating with us by making repayments on time you show us how much you can afford to repay. Your payment record along with your personal circumstances, credit record and how long you’ve been a customer help us work with you to decide what the right amount of borrowing is.

For more information ask your agent.

We will consider you whatever your circumstances.

Even if your credit history isn’t perfect or you’ve had problems getting credit elsewhere, we may be able to help you.

Our loans are available to tenants, self-employed or people in full-time employment. If you are receiving benefits we may be able to help.

The most important thing is whether you can afford the loan. We will assess your ability to repay a loan before giving you credit.

• We will consider you whatever your circumstances
• Loans Available to tenants and Self employed

No, we believe that getting a loan to you instantly or within minutes is not necessarily a good thing. Speed, although convenient, can mean you don’t fully understand what you are getting yourself in for.

You may not have taken the time to consider there may be extra costs such as roll-over charges or extra charges if you miss any payments.

All our charges are up front and clear that’s why we’re different from payday lenders. The amount you owe will never go up.

If you apply we will contact you within 3 days to arrange a visit and organise your loan.

No, we believe that getting a loan to you instantly or within minutes is not necessarily a good thing. Speed, although convenient, can mean you don’t fully understand what you are getting yourself in for.

You may not have taken the time to consider there may be extra costs such as roll-over charges or extra charges if you miss any payments.

All our charges are up front and clear that’s why we’re different from payday lenders. The amount you owe will never go up.

If you apply we will contact you within 3 days to arrange a visit and organise your loan.

We understand that sometimes important things come up and you may miss a payment. It is important that you let your agent know if you’re not going to be in and they can rearrange a time to come and see you in the next couple of days. If you do miss a payment, speak to your agent and pay extra in the following weeks to catch up.

Mutual provide cash loans or credit for retail products with payments collected in your home.

You pay back the amount of credit you owe weekly, monthly or fortnightly. Our friendly service means repayments are collected from your home by one of our agents at a time to suit you. If you ever have any problems our agent will be there to help you work your way through them.

The amount you owe in total (including interest) is set out clearly from the start which means you don’t face any nasty surprises through extra hidden fees or charges.

APR (Annual Percentage Rate of charge) is meant to be there to help make comparing loans simpler. It takes into account how much you have borrowed, how much the loan will cost you to pay back, how long you have borrowed for and what the repayments are.
Lenders are required to tell you what APR there is on a loan.

However APR does not include things like the admin charge or late payment fees which some other lenders charge but Mutual don’t. APR is based on a complicated mathematical formula and isn’t a straight forward percentage of what you’ve borrowed.

APR doesn’t work well when you are borrowing for less than a year. For example if you borrow £10 from a friend and pay them back £11 the following week (a £1 tip) the APR would be 14,104%. This doesn’t make much sense and doesn’t bear any relation to the amount of interest charged, the £1 tip.

The best way to compare shorter term loans is on the total amount repayable.

Remember

• There are no hidden fees or charges
• The costs are up front
• There is no added interest

How much we can lend you is based largely upon your credit rating with Mutual. It tells us how much you can afford to borrow.

We don’t use credit scoring but make decisions based on your individual circumstances.

Your credit rating is based on:

• Your repayments
• Your circumstances such as your income and outgoings
• Your credit record (The information about your credit held on a Credit Reference Agency)

• Making repayments on time.
• Maintaining a good repayment record over a period of years with us and on your other credit
• Letting your agent know if you have to miss and catching up over the following weeks
• Making sure you are listed on the voters roll at your current address

How much we can lend you is based largely upon your credit rating with Mutual. It tells us how much you can afford to borrow.

We don’t use credit scoring but make decisions based on your individual circumstances.

Your credit rating is based on:

• Your repayments
• Your circumstances such as your income and outgoings
• Your credit record (The information about your credit held on a Credit Reference Agency)

• Making repayments on time.
• Maintaining a good repayment record over a period of years with us and on your other credit
• Letting your agent know if you have to miss and catching up over the following weeks
• Making sure you are listed on the voters roll at your current address

The best way to save money on a home credit loan is to switch your loan every time it comes up for renewal or when you are thinking about taking out a new loan. Click here for more information about switching your account.

Home collected credit is characterised by high “Headline APR’s”, this is because of two reasons. Firstly it is the nature of the market we are in and secondly it is the nature of the product. The market we are in serves customers that have often been excluded from credit elsewhere. This can mean they are a higher credit risk than other sectors and therefore credit charges are higher. The nature of the product is that it is unsecured credit, so we can’t take your house or car away. The product contains all of the charges made so there is no extra charge for collection or any kind of default or arrears charges. The amount you owe can never go up.

It is important to note that not all Home Credit Companies charge the same. At Mutual we charge significantly less than Provident and Morses Club, the biggest brands in Home Credit.

Lenderscompared.org.uk is a free to use, independent price comparison website with the aim to help you find the best small cash loan, so there are no sponsored results or other adverts on this site.

The website was set up after the Competition Commission's investigation into the home credit industry. The Competition Commission was closed on 31 March 2014 and many of its functions, and those of the Office of Fair Trading, were transferred to the new Competition and Markets Authority (CMA). The CMA works to promote competition for the benefit of consumers, both within and outside the UK. Its aim is to make markets work well for consumers, businesses and the economy.

Lenderscompared.org.uk is paid for by the largest home credit companies.