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Why firms who deal directly with the public are so cheap

A growing number of firms offer loans direct to the public at very low rates. The reason for the low prices is that these firms don't have to pay for expensive high street premises or lots of staff, so their costs are much lower than High Street banks.

Firms that offer loans direct to the public are often much cheaper than the High Street lenders, and a big part of that is because they don't have to shell out large sums of money for High Street premises or for large numbers of employees. This means that their costs are much lower than their competitors, so they can pass the savings on to the customer.
Another reason why firms that offer loans direct to the public are so cheap is because in many cases, you do most of the work for them. Instead of having a member of staff talk you through the available options and help you with the application form, all the information you need is on the Web site – and you fill out the form online. All the lender needs to do is send you a copy for your signature. This streamlined approach means it costs lenders a pittance to process loan applications, which once again means they can offer loans at very low interest rates without going out of business.

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