THL Direct Reviews, Fees & Features (2022)

THL Direct is a UK-based broker that can help you get payday loans with flexible repayment terms. 

It has no upfront fees and caters to all potential borrowers, even those whose credit rating is less than perfect. 

Is THL Direct reliable? How exactly does it work? And what do THL Direct reviews by customers say? Read on to find out the answers and learn more about the platform and its services.

What Is THL Direct?

THL Direct is a UK-based and FCA-regulated broker. 

It is not a direct lender, but rather a loan matching service that partners with direct lenders who can provide payday loans ranging from £150 to £3,000.  

THL Direct offers fast and free credit broking services to all potential borrowers, regardless of credit rating and income. As long as you meet the site’s eligibility criteria, you can apply for credit and if approved get funding the same day. 

How Does THL Direct Work?

THL Direct works by bringing potential borrowers together with lenders who can meet their particular financial requirements. 

The company works together with lenders who can provide short-term loans and payday loans—an increasingly popular option in the UK where around 6.3 million adults have some sort of personal loan.

How To Apply for THL Direct Loans?

You can apply for credit with THL Direct online. The application process is completely free and takes minutes to complete. 

1. Apply online 

To get started choose the amount you want to borrow and click on ‘Start Now’. You will be taken to an online form where you will need to fill in the following:

• Personal details (name, marital status, the purpose for the loan, address, phone number, etc)
• Employment information (the name of your employer, address, phone number)
• Financial information (bank account number, details about your income) 

Once you provide the required information, the underwriters will assess the application to check whether or not you meet the initial criteria. 

2. Get funding 

If approved, THL Direct lender partners will transfer funds directly to your bank account on the same day. 

Who Can Apply for THL Direct Payday Loans?

THL Direct has some eligibility requirements one must meet to make an application for credit on the platform. 

To apply: 

• You must be over 18 years of age
• You must be a UK resident and live in the country
• You must provide valid contact details and a working telephone number 
• You must be employed and have a valid debit card in your name
• Your income must be paid into your bank account
• You must not be involved in a Debt management plan (DM Plan), Individual Voluntary arrangement (IVA) or bankruptcy proceedings (BKO)

How Does Repayment Work?

Since THL Direct is not a lender, it does not collect payments. The terms of your repayment will be determined by the lender in your loan agreement, but most loans provided through the platform have flexible repayment terms that typically range from 2 to 24 months. 

Keep in mind that other lenders have even more flexible repayment terms. Koyo Loans, for instance, provides repayment periods of up to 5 years, giving you even more freedom when it comes to settling the loan.  

If you cannot repay your short-term or payday loan on time, you need to contact the lender directly and work out a repayment plan that will suit both of you. 

Failure to make regular payments may hurt your credit rating or even lead to the lender passing on your account to a debt collection agency. Another possible scenario involves the lender reporting your outstanding debt to Credit Reference Agencies (CRAs) where it will remain on record for six years, even if you settle the debt in the meantime. 

The good news is that the lenders THL Direct works with allow you to settle your debt at any time. Even though loan repayments are set up over several months, you could ask the lender for a settlement balance whenever you want to and only repay what you owe at the moment. 

A Closer Look at THL Direct Loans

What do you need to know about THL loans?

Loan Amount & Type

THLD offers payday and instalment loans. 

Payday Loans

Payday loans usually involve lower amounts and are used to pay for unplanned events, such as an unexpected car or home repairs. These loans are repaid in one to four instalments, usually on your payday, hence the name. 

With THL Direct, payday loans tend to range from £150 and £1,000 and are repaid in 6 months, although terms can vary according to your financial circumstances and the lender.

Payday loans are easily accessible, but have very high interest rates. If you want a more affordable financing solution, you could consider P2P lending. The Money Platform, Fund Ourselves and Crowdestor are just some of the companies in the UK that offer great opportunities for peer-to-peer lending.

Instalment loans

Instalment loans are another type of short-term loans, but these are repaid over several months. THL Direct instalment loans can go between £125 and £500 and can be repaid between 2 and 24 months. 

Note: The maximum amount you can borrow through THLD is £3,000. Should you require a higher amount, you could take a look at Likely Loans, a direct lender that offers personal loans from £500 to £5,000. 

What purpose can the loan be for?

The money you borrow through THLD can be used for any purpose you wish, including unforeseen expenses, such as medical bills or vehicle repairs, rent or mortgage payments, utility bills, debt and credit card repayments, and even grocery bills.

Loan Terms

THL Direct partners with direct lenders who provide flexible repayment options ranging between 2 and 24 months. What’s more, many of the loan providers accept weekly as well as monthly repayments, all in order to accommodate potential borrowers and their budgets.  

If you need even more flexibility in making payments, take a look at Mr Lender, which lets borrowers choose when they will pay the loan (options include the start or end of the week or even a specific day). 

THL Loans Fees

Using the services of THLD is free of charge, although this does not mean that you can get credit for free. The interest rate, late fees and repayment fees are set by the lender and outlined in your loan agreement. 

All applicable fees will be presented to you in a clear and transparent manner before you sign on the dotted line, so it is important to read through the loan agreement carefully before you decide to proceed.

Representative APR

Similarly to loan and repayment terms, the interest rate on the loan you take out through THL Direct in the UK is determined by the lender and based on your employment status, credit rating and other personal circumstances. That said, the rates on the platforms range between 45.3% APR to 1575% APR. The representative APR is 49.9%, which although quite high, is still lower than what other platforms offer. 

So, if you borrow £1200 over 18 months at a 49.9% APR, you will need to pay £90.46 a month or a total sum of £1628.28. 

THL Direct Key Features 

THL Direct has many features that make it an appealing option for anyone who needs quick cash. 

1. Fast & Easy Approval 

As mentioned previously in this THL Direct review, the platform has a quick online application process that makes it easy for anyone to apply for credit. 

No need to make in-person visits to multiple offices and spend hours comparing interest rates and terms—THL Direct will find a suitable lender based on your unique circumstances, needs and financial situation. 

2. FCA-Authorised 

THL Direct is regulated and authorised by the FCA, the UK’s financial regulatory body. This means that the company complies with the FCA’s strict criteria and can be considered trustworthy and reliable. 

3. Trusted & Flexible Direct Lender Partners 

THL direct only works with quality direct lenders who are clear and transparent with clients. 

When borrowing through the platform, lenders allow you to be in control of your short-term loan including setting the amount you want to borrow and the dates by which the loan should be paid back. 

On top of that, THLD lender partners are willing to work with all potential borrowers, from great credit to those whose credit rating is not that good. 

4. Solid Customer Support 

There are several ways to reach out to the company, including:

• Phone: 0330 223 0177
• Email: info@thl-uk.com
• Mail: THL Direct, 470 Holdenhurst Road, Bournemouth, BH8 9AQ

There is no live chat feature, but if you have pressing questions, you can fill out an online enquiry form or take a look at the blog on the site where you will find a lot of helpful information. 

Complaints and potential issues are handled within 5 working days, while users report that the company’s customer service team is informative, polite and always available for advice and support. 

THL Direct Reviews 

Sadly, there are not that many THL Direct loans reviews by customers online. The ones that can be found mostly praise the platform’s fast and efficient service, as well as the friendly and helpful support team. 

On Trustpilot, THLD has an average rating based on four reviews. 

Verdict: Is THL Direct the Right Choice for You?

If you’re looking for quick and straightforward short-term loans, THL Direct is definitely an option to consider. 

This UK-based broker partner with lenders who can offer flexible repayment terms and same-day funding. The loan application procedure is 100% online and free, while the platform promises to match you with suitable lenders within minutes. The lack of online reviews can be a bit concerning, however, the company is regulated by the FCA, which should convince anyone of its reliability.