Originally posted by MarillionFan
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Reply to: Fair loans
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Previously on "Fair loans"
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Why do you want to buy a fair? Surely a circus would make more money?
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note the idiots failed to cap rates earlier this year. 3500% and annoying adverts on the telly suggest they are making too much money.
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Fair loans
BBC News - Affordable loans plan is unveiled
A new not-for-profit lending scheme is being unveiled aimed at giving manageable loans to financially excluded people.
A pilot scheme has been set up in the West Midlands called My Home Finance, in the hope of diverting people away from borrowing from loan sharks.
However, the interest being charged is higher than the maximum by law that credit unions can charge.
It will charge 29.9% APR in the pilot scheme, rising to 49.9% APR in April.
It's good to see people getting access to cheap money with base rates at 0.5%.
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