{"id":318,"date":"2014-12-04T09:34:32","date_gmt":"2014-12-04T09:34:32","guid":{"rendered":"http:\/\/mrlenderblog.com\/?p=318"},"modified":"2019-01-24T17:19:11","modified_gmt":"2019-01-24T17:19:11","slug":"mr-lender-leads-the-way-in-short-term-consumer-credit-market","status":"publish","type":"post","link":"https:\/\/www.mrlender.com\/blog\/mr-lender-leads-the-way-in-short-term-consumer-credit-market\/","title":{"rendered":"Mr Lender leads the way in short-term consumer credit market"},"content":{"rendered":"

PRESS RELEASE
\n4 December 2014<\/strong><\/p>\n

Mr Lender , a leading UK-based short term loans provider<\/a><\/strong>, today announces it is one of the first in its industry to introduce a new, lower interest rate for customers. This follows an announcement by the Financial Conduct Authority<\/a><\/strong> (“the FCA”) on 11 November 2014<\/span> introducing new price cap regulations.<\/p>\n

Under the new regulations, the following apply:<\/p>\n

    \n
  1. Interest payable is capped at 0.8% per day<\/li>\n
  2. Fixed default fees are capped at \u00a315<\/li>\n
  3. The total interest and fees charged on a loan can never exceed 100% of the amount borrowed<\/li>\n<\/ol>\n

    Following this announcement, Mr Lender has invested in its systems and procedures to ensure that the improved terms are available to customers at the earliest opportunity. Therefore just three weeks since the FCA’s announcement, the business is introducing these new terms.<\/p>\n

    Adam Freeman<\/span>, Founder and Chief Executive Officer of Mr Lender said, “As a responsible lender, we welcome the changes brought by the FCA.<\/p>\n

    “Our customers are at the heart of everything we do. As a proactive and innovative business, we wanted to roll out a lower interest rate as early as possible and we’ve worked hard to make it happen.<\/p>\n

    “So from today customers can borrow from us at the lower, daily interest rate of 0.8%, or in monetary terms 80 pence<\/span> a day per \u00a3100 borrowed.”<\/p>\n

    Freeman continued, “The new regulations will bring a lot more clarity to the short-term lending market which can only be a good thing; both for customers who will be able to easily and fully understand the cost of borrowing, and for lenders who will need to be a lot more transparent about their charges.”<\/p>\n

    Mr Lender<\/a> is a leading UK-based short-term credit provider. \u00a0We provide\u00a0payday loans<\/a> and short-term loans<\/a>\u00a0of up to \u00a31,000, repayable up to six months.<\/strong><\/p>\n

    Warning:\u00a0Late repayment can cause you serious money problems. \u00a0For help go to\u00a0moneyadviceservice.org.uk<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    PRESS RELEASE 4 December 2014 Mr Lender , a leading UK-based short term loans provider, today announces it is one of the first in its industry to introduce a new, lower interest rate for customers. […]<\/p>\n","protected":false},"author":5,"featured_media":319,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[],"yst_prominent_words":[2720,2760,2427,1982,2767,1978,2529,2755,2436,2691,2036,2698,2683,1928,2703,2745,2726,2423,2750,2739],"class_list":["post-318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mr-lender-newsroom"],"jetpack_featured_media_url":"https:\/\/www.mrlender.com\/blog\/wp-content\/uploads\/2014\/12\/blog-press-release-4-december-header.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/posts\/318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/comments?post=318"}],"version-history":[{"count":5,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/posts\/318\/revisions"}],"predecessor-version":[{"id":6417,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/posts\/318\/revisions\/6417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/media\/319"}],"wp:attachment":[{"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/media?parent=318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/categories?post=318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/tags?post=318"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.mrlender.com\/blog\/wp-json\/wp\/v2\/yst_prominent_words?post=318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}