Monday, 14 May 2007

Don't do it Graham!

It may be something he won't be proud to tell his viewers about, but TV and radio personality Graham Norton, pictured, could find himself presenting an award to lenders charging over 1,000% interest this week.

The Irish comedian is due to host Credit Today magazine's annual awards ceremony at London's prestigious Grosvenor Hotel, Park Lane on Thursday night. But some of the lenders that he could be shaking hands with include extortionate home credit providers Bristol Finance and Credit Services Ltd, which charges £40 interest on a £100 loan given over just 14 weeks. That's a whopper of a rip off Graham - an APR of 1068.5%!

The Home Credit or door to door lending market was recently found by the Competition Commission inquiry to be making excessive profits amounting to over £75 million per year. A range of measures are due to be implemented next year to address this, but in the meantime lenders like Bristol Finance and Credit are able to continue to rip off low income customers.

Other lenders up for an award in the category of 'Home Credit Lender of the Year' (we kid you not!), include Shoppacheck, the subject of previous TV undercover reporting, and last year's winner SD Taylor -a subsidiary of S&U plc in which ex-Tory M.P Derek Coombs, holds a £30 million stake.

If you think Graham is doing the wrong thing by presenting an award to these lenders, then contact him via his website ( and let him know what you think.

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