BrightHouse has launched a trail of BrightLoans, a new direct loans service for its existing customers. The trial will be available to customers across 14 stores in the North East of England and will last for the next three months.
Loans of between £200 and £500 will be offered for a fixed period of 18 months at an APR of 149%.
The new service is only available to selected, existing customers who have had an agreement with BrightHouse for more than six months. It will require a customer to undertake an affordability assessment, as is the case when applying for any additional BrightHouse product. This will ensure that those applying for a loan can afford it.