Best known as a high street pawnbroker, H&T Finance opened its first shop in London in 1897. With 181 stores across the country, it is now firmly established as the UK’s largest pawnbrokers. However, following a sharp drop in the price of gold in 2012 which saw many pawnbrokers close, H&T Finance decided to branch out into the fast-growing area of unsecured short-term loans. H&T Finance has developed a complete online service to complement its in-store offering, so now you can bridge a shortfall without handing over your family heirlooms!
Unlike many “payday” loan companies which will simply lend you a lump sum until your payday, H&T Finance allows you to repay loans in weekly, fortnightly, monthly or four-weekly instalments over a period of up to 24 months. Spreading repayment over longer periods can make each instalment more manageable, but pushes up the overall cost of the loan.
H&T Finance is a direct lender authorised and regulated by the Financial Conduct Authority.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
Use the table below to find out how much a comparable loan is likely to cost you from some popular short-term lenders:
High-cost, short-term loans should only ever be used for occasional, urgent financial needs and are not a good idea for sustained or longer-term borrowing. They are a very expensive form of borrowing and should only be considered as a last resort.
Before you apply for a short-term loan, make sure you have considered other options. Is the expenditure that you are planning for absolutely essential? If you can defer a purchase then you could save yourself money in the long run. If you are struggling to pay a utility bill, then try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan. Read more about alternatives to short-term loans at moneyadviceservice.org.uk.
Like most short-term loan providers, H&T uses a Continuous Payment Authority (CPA) to collect your repayments on the instalment dates you have chosen. You can also choose to repay any amount of your loan at any time through a bank transfer.
CPA’s differ from a direct debit because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most payday loan companies will use a CPA to collect your repayments, however you can cancel this at any point by either consulting with the lender or your bank.
You should only apply for an H&T Finance loan if you are certain you can meet the repayment terms. To be eligible, you must also:
Learn more about the Crypto.com platform in our complete review.
Saving time on expense reports and streamlining your cash flow are just a couple of the many perks you could enjoy with a business credit card. Compare interest rates and check your eligibility today.
Orca lets you invest in 250 stocks and exchange traded funds on the London Stock Exchange. Find out some pros and cons and its fees.
Is Monzo’s app-only current account the right option for you? Read our review to get the low-down on all of the features of the account, its card and the app.
We explore how to use Compound Finance for lending and borrowing.
Find out if a bridging loan or commercial mortgage would suit you if you’re buying or refinancing commercial property and when a bridging loan can be a better option.
The best methods for getting your credit rating in top shape, and boosting your credit score.
Learn how to use DeFi aggregator Yearn Finance to earn interest on your cryptocurrency.
Find out how to get a loan if you work for yourself, including which lenders offer business loans for sole traders.
