THL Direct

THL Direct are a high-cost short-term lender based in Wimborne, Dorset. They offer payday loans to be repaid over 3 months, however, these can be repaid at any time and you’ll only pay interest for the length of time that you borrow the money.

Similarly priced to the majority of high-cost short-term lenders, THL Direct charge interest at the daily rate of 0.8% (in line with the FCA price cap). THL Direct do not charge any fees, this includes no upfront fees, no default fees or late repayment fees. However, if you’re are late with your repayments it will have a negative impact on your credit file.

Online reviews for THL Direct appear to be overwhelmingly positive, scoring 4.9 out of 5 on Feefo. The majority of customers praise the friendliness and helpfulness of the staff, while others complimented the efficiency and ease of the whole application process. The website is very simple and easy to navigate around, meaning any essential information can be quickly found. If the reviews are anything to go by, then THL’s customer service team are more than happy to help with any concerns you may have; with some reviews appreciating the informative and jargon-free advice the staff provide.

If you're considering taking out a THL Direct loan, the usual high-cost short-term loan health warning applies: make sure you keep up with your repayments. Although THL Direct do not charge for missed or late payments, they will show up on your credit file and make your financial life more difficult in the future. If you find yourself struggling to make your repayments make sure you let THL Direct know as they have a reputation for being approachable and will work with you to limit the damage.

Overall verdict: With numerous positive reviews, a simple to use website and a standard APR in the marketplace, THL Direct are definitely an option worth considering if a short term loan is the route you want to go down. But remember, like any other high-cost short-term loan, be sure you can afford you can meet your repayments before you apply and compare your options first.

Highlights

• You don't need to have a perfect credit history

Minimum criteria

• You must be at least 21 years old
• You must have a UK bank account with direct debit facilities
• You must be a UK resident
• You must earn at least £900 a month and have it paid into your bank account
• You must be in permanent employment

Fees

• Maximum APR 1306.21%
• Arrangement fee: £0
• Early repayment fee: £0
• Late payment fee: £0