UKC

Some perspective please.....

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 Indy 08 Apr 2016
Looking to buy some Wireless speakers and was checking some prices and noticed that Littlewood's do the B&O BeoLit 15 for £519 one of the benefits is "52 interest free weekly payments". Strangely everyone one else sells that speaker for £399. Then again you'd miss out on Littlewood's idea of "Interest Free"......

...... but king of the pile has to go to Brighthouse who'll sell you a Playstation 4 with 2 games for £1495 everyone else will give you a fair bit of change from £400.

Why are people attacking David Cameron when its obvious that it's the above companies that need to be looked into.



2
In reply to Indy:

Perspective 2015 FCA place cap on loan up to this nothing was in place

so bright-house is cheep!
With the cap in place, the APR is 1,270% for a 30-day £100 loan.

and then you have the back street unregulated

from the web >>>>
The amount that lenders can charge will be limited. Someone taking out a typical loan over 30 days and repaying on time will not pay more than £24 for each £100 they borrow – the figure includes interest and all other charges for taking out the loan and extending its term.

There will be a separate cap on default charges, and borrowers who miss a repayment or make it late can only be charged £15. Interest can still be applied after the missed payment date, but the FCA has also proposed an overall cap on costs which will prevent anyone having to repay more than double the amount they borrowed.

With the cap in place, the APR is 1,270% for a 30-day £100 loan.
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