What's new:
â– Government announces affordable loan scheme
â– Loan demand still far outstrips supply
IC TIP:
Hold
at
820p
Shares in Provident Financial have fallen recently mainly, as investors ponder the introduction of a planned government-funded "affordable loans scheme" called My Home Finance. Offering interest rates of up to 49.9 per cent, these 'affordable' loans are being piloted in 10 branches in the Midlands, and there are concerns that this competition could dent new loans.