Brendan Burgess
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Source: article by Margaret E Ward in Sunday Times 7 September
One Direct advertises the lowest rate for personal loans at 7.75% APR, but they give this rate to customers with the top credit rating. Other customers get charged as high as 21%.
The full range of rates is not mentioned on the website or mentioned in its ads.
An IFSRA spokeswoman said:
One Direct advertises the lowest rate for personal loans at 7.75% APR, but they give this rate to customers with the top credit rating. Other customers get charged as high as 21%.
The full range of rates is not mentioned on the website or mentioned in its ads.
An IFSRA spokeswoman said:
If an advertised APR is not offered to everyone, it must be made clear in advertising"
The regulator said it might seek clarification from insitutions that fail to do this bu it would not comment on individual case