THL Direct short-term loans review

THL Direct offers short-term loans of £200-£500, or up to £300 for first-time customers, over 3 months. You can choose to pay weekly or monthly to help you budget according to your payday.

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THL Direct

Based in Wimborne, Dorset, THL Direct allows you to apply for a short-term loan online or over the phone. With loans available over three months only, THL Direct does not offer the same flexibility as some of its competitors in this market. However, you can repay your loan early at any time without being charged a fee and will only be charged interest for the time you owed money.

THL Direct is authorised and regulated by the Financial Conduct Authority.

Warning: late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

Please note: high-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

Is high-cost, short-term borrowing a good idea?

Short-term or “payday” loans offer a quick fix when you get into unexpected trouble with your finances, but they are a very expensive method of borrowing. Therefore, you should only consider this option as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and are not suitable for borrowing over longer periods, or for people with serious debt problems.

Before you apply for a short-term loan, make sure you have considered all other options carefully. Is the expenditure that you’re planning a necessity? If you can put off a purchase even for a few months then you could save yourself money in the long run. If you are struggling to pay a bill, then try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan. Read more about alternatives to payday loans at moneyadviceservice.org.uk.

Key features of a THL Direct loan

  • Borrow £200 to £500. The amount you can borrow will be determined by your credit rating and what you can afford. First-time customers are limited to a loan of £300.
  • Choose your repayment dates. Match the days your loan payments are due to when you get paid. You can also choose to make your repayments weekly or monthly.
  • Fast payment. Once approved, the money should be in your bank account on the same day.
  • Fixed, high interest rates. With interest charged daily at the maximum rate allowed by the Financial Conduct Authority, this is an expensive way to borrow money.
  • Early repayment. Once the loan is in effect, you can choose to repay it at any time before the agreed date. There are no early payment penalties for doing this. You pay interest only for the days that the loan is outstanding, so if you can afford to do this, you could save money.
  • Reloans. Once you have successfully paid off a loan you are eligible to apply for another one. You can do this online in the “Reloans/Existing customers” section of the website. Please be aware, however, that short-term loans are not suitable for sustained borrowing.
  • No late fees. THL Direct will not charge you if you are late with a repayment. However, late or missed payments can harm your credit rating and make it difficult for you to obtain credit in the future. Increasing the time the loan is outstanding will also cost you more in interest.

How do the THL Direct loans compare?

Table: promoted deals, sorted by total payable
It’s important to compare the market before you take a personal loan. If you’ve used THL Direct loan calculator to get a quote and want to see if you’re getting a good deal, find out how much a comparable loan is likely to cost you from some popular short-term lenders:

How much money do you need to borrow?


How long do you need to borrow over?


Name Product Available Amounts Monthly repayment Total payable
£50 to £1,500
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
£200 to £1,500
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
£100 to £1,000
Representative example: Borrow £400 for 6 months at a rate of 229.95% p.a. (fixed). Representative APR 720% and total payable: £707.01 in 6 monthly payments of £117.83.
£100 to £1,000
Representative example: Borrow £250 for 30 days at a rate of 292% p.a. (fixed). Representative APR 1270% and total payable: £310, in 1 payment of £310.
£50 to £1,500
Representative example: Borrow £250 for 74 days at a rate of 292% p.a. (fixed). Representative APR 1300.5% and total payable: £398.00, in 1 payment of £74.00 and 1 payment of £324.00.
£100 to £1,000
Representative example: Borrow £500 for 5 months at a rate of 292% p.a. (fixed). Representative APR 1,297% and total payable: £867.05 in 5 instalments of £173.41.
£100 to £1,000
Representative example: Borrow £480 for 9 months at a rate of 133.1% p.a. (fixed). Representative 535% APR and total payable £959.04 in 9 monthly payments of £106.56.
£100 to £2,500
Borrow £100 for 8 months at a rate of 204% p.a. (fixed). Representative APR 567% and total payable £199.33 in 8 monthly payments of £19.93. You can repay this loan early.

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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

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How does a THL Direct loan work?

  1. Use the sliders on the lender’s homepage to choose how much you would like to borrow.
  2. The repayments are set at 3 months.
  3. Fill out the online application form with your personal, financial and employment information. This should only take a few minutes.
  4. THL Direct will perform a credit check on your details. An advisor will then contact you to give you a decision on a loan and tell you how much you are able to borrow.
  5. If you’re approved, the money should be in your bank account on the same day.

How do I pay back my loan?

Like most short-term loan providers, THL Direct uses a Continuous Payment Authority (CPA) to collect the repayments from your bank account on your chosen dates.

What is a Continuous Payment Authority (CPA)?

A CPA is a recurring payment in which you give a company permission to withdraw money from your account on a regular basis.

CPAs differ from direct debits because they give the company being paid the ability to withdraw money from your account whenever it wantsa, and to take payments of different amounts without consulting you.

Most “payday” loan companies will use CPAs to collect your repayments, although you can cancel this at any point by either contacting your provider or your bank.

What are the eligibility requirements?

You should only apply for a THL Direct loan if you are certain you can meet the repayment terms. You must also:

  • Be at least 21 years old
  • Have a UK bank account with direct debit facilities
  • Be a UK resident
  • Earn at least £900 a month and have it paid into your bank account
  • Be in permanent employment

Did you know?

In 2015 the Financial Conduct authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.

It also capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.

Frequently asked questions

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We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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