Property News · October 24, 2015

Forget payday lenders – there’s a much better way to borrow


Lack of access to mainstream funds drives many to find loans at extortionate rates but there is a viable alternative. And savers can benefit tooWonga charges an APR of 1,509%, QuickQuid 1,270%, while doorstep seller Provident -Financial quotes 1,068%. Yet there is an alternative source of loans for hard-pressed individuals without a good credit history, and where interest rates start at just 12.7%.Credit unions – co-operatively managed “run by you, for you” organisations – offer savings and loans products starting at just £50, and after years in the shadows are finally making more of an impact in England. Continue reading…

Source : theguardian.com
Read more…Forget payday lenders – there’s a much better way to borrow

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