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The Mutual loans brand is headed as being the UK’s largest family-owned home collection loan company. They have 240 agents and over 350 employees that are spread out across 15 branches. They reference the founding year of 1898, with Mutual Clothing & Supply Ltd being formed in 1922. Their service is available though and they do also operate through This doorstep lender heads large accessible sums ranging from £50 to £2000. New restrictions aren’t detailed, but you would expect this to be set at a few hundred pounds. There are 4 repayment options that includes 26, 51, 102 or 156 weeks.

Pricing is an area where the Mutual loans shine with APR for the minimum term standing at just 188% and this reduces further as you increase the repayment periods. To cover a few examples per £300 taken out, over 26 weeks the cost would be £90 whilst over 51 weekly terms you would be looking at £120. That 26 week rate works out at around 5% each month. In comparison, a competitive monthly payday loan rate is considered as being 25%. Applications are taken at that has took on a recent revamp. This includes account logins and SSL being added. No other lender in this niche provides such a facility.

There is unfortunately no nationwide coverage with funds being accessible to those located across East Anglia, East Midlands and South Yorkshire only. Applicants even with a troubled credit history may still qualify. They operate throughout Monday to Friday with the main office appearing to be live from 8.30am until 5pm. Once approved, a similar collection procedure would work as it does with their rival doorstep lenders. It is commendable to see such competitive market rates, but this is negated by their coverage span. It is unknown whether they are planning to expand in the near future. The market leaders on the hand cover the entire UK.