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Calls mount for caps on 'rent-to-own' lending interest rates to protect vulnerable

Mar 01, 2018 - The Daily Telegraph (London)

CHARITIES have called for rent-toown lending and other forms of high interest credit to have their charges capped.

The demand came as lenders and debt management charities were quizzed by MPs on the Treasury select committee as part of an investigation into household finances. Rent-to-own forms of borrowing, where a consumer might pay a weekly amount over time in order to pay for a product, were a serious problem for "very vulnerable" people, the charities warned.

These forms of lend...