Loans2go what a joke

jon81uk

Doesn't the FCA cap apply so you shouldn't need to repay more than twice what was leant?

Herzlos

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%.