‘Rent-to-own’ sector faces price caps on credit and product costs

By Neasa MacErlean

Creditcharges in the ‘rent-to-own’ sector look set to be capped at the price of the item being purchased from 1 April. The Financial Conduct Authority is taking the move to protect “some of the most financially vulnerable people in the UK” from paying total costs that typically work out at three times the retail price.