Updated
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 moneyadviceservice.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:
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
Second charge mortgages can allow borrowers to finance big projects, like home improvements. However they come with risk, so it’s crucial to read-up, do your sums and work out what’s right for your circumstances.
If you’re considering applying for a £100,000 personal loan, check out this guide which explains how to compare lenders and find the best deal.
Is spreading the cost of your trip overseas with Fly Now Pay Later right for you? This guide includes a round-up of pros and cons and our expert verdict.
Secure the finance you need to get your company off the ground or get it to the next stage of its evolution with a small business loan.
Here’s everything you need to know about Splitit, which helps you to split payment for your online shopping orders into manageable chunks.
Find out some key tips on what you can do with your money to help weather the recession of 2020.
Lenders across the board are offering coronavirus mortgage holidays to those who are facing financial hardship, but is it worth it?
Learn about government support and alternative options for businesses needing finance to help deal with the impact of coronavirus.
Read our in-depth guide to getting a high-net-worth mortgage, including why the financial crisis has made this harder and where to look for the best deals.
Long term loans can help lower your loan repayments, even if you have bad credit. Compare your options now.
