Finance companies, building societies, insurance vendors and you can credit unions aren’t felt moneylenders
This type of preparations are similar to hire purchase plans for the reason that your get and pay for an item within the instalments. A primary distinction is that a purchaser immediately possesses the goods bought less than a card product sales arrangement. The brand new Apr billed on this subject sorts of financing is generally large than simply you to on the credit cards however, can not be above 23%. Instance hire-purchase fund this type of borrowing from the bank isnt versatile.
Mortgages and you will most readily useful-right up mortgage loans:
This really is a long-identity financing to invest in a home purchase that will be essentially covered on your own house. (περισσότερα…)