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Poorest Londoners locked out of access to credit & financial help

New research by Plend has shown 3 in 4 adults in a worse off financial situation due to the cost of living crisis.

Those who are the worst off also find it incredibly difficult to access financial products to help them – charged the highest rates of interest for credit or locked out of finding ways to mitigate their circumstances.

Plend, who say their goal is to try and achieve financial inclusivity with “fairer” borrowing terms also found ethnic minority groups are less likely to be accepted for loans – with over half rejected in the last 24 months.

James spoke to consumer finance campaigner Alice Tapper, who authored Plend’s report into Plend’s Financial Inclusion Report.

James Dickman 3rd April 2023

TagNews, LocationTower Hamlets