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Loans2go what a joke
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Doesn't the FCA cap apply so you shouldn't need to repay more than twice what was leant?0
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jon81uk said:Doesn't the FCA cap apply so you shouldn't need to repay more than twice what was leant?
That's just for payday lenders, this would be a normal loan but with a horrific rate so I think is technically allowed.
On a long enough loan term, even at a low rate you'll pay back more than twice what was borrowed - look at the posts on here from people taking out 25+ year loans at 6%.
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