We’re calling for
- the Financial Conduct Authority to regulate the rent-to-own sector more tightly by capping the total cost of goods bought through rent-to-own
- the Government to promote better access to affordable credit by creating a national interest-free credit scheme available to anyone eligible for Universal Credit
Please email your MP and ask them to write to the Minister for Financial Inclusion, Guy Opperman MP and the Economic Secretary to the Treasury, Stephen Barclay MP.
Our new report reveals that families living in poverty are often left with no option but to turn to rent-to-own companies for basic household items, often paying up to three times the cost. Government spending on interest-free loans has dramatically declined; welfare payments are frozen; and prices are rising. We’re calling on the Financial Conduct Authority to regulate the rent-to-own sector more tightly; and for the Government to increase access to interest free credit.