Walking along the Roman Road, East London before Christmas I found the local “Money Shop” had a wonderful special offer for customers – “pay only £5 for a £95 loan” at only 86.7% typical APR. So that’s okay then. An absolute bargain then with inflation at 4.8%?

Today I walked past the “shop” and it had no bill boards out on the pavement but it was announcing its “half price sale” in the windows. “ Pay only £7 (usually £14) for a £93 loan with our Half Price Sale. 141.9% APR typical. The total amount payable of £100 is repaid in 30 days".