HAT H&t Group Plc

TIDMHAT

H&T Group PLC

19 September 2011

PRESS RELEASE

19 September, 2011

H&T announces new online Pay Day Loans business

H&T, the UK's leading pawnbroking company, is pleased to announce that it has launched an online Pay Day Loans business.

www.handtonline.co.uk/pda

Online Pay Day Loans are low-value, short term loans; H&T's average loan is less than GBP170. So while interest rates and APR can appear high, the actual interest paid is relatively small.

Pay Day Loans are useful for cash emergencies where there is a real need for money - frequently to avoid consequences such as missing a day's work or unpaid DD fees. They are a real alternative to overdrafts, especially unauthorised loans.

For example, a GBP170 unauthorised overdraft from Lloyds would cost GBP82.48(1) for 30 days. By comparison, H&T's online Pay Day Loan costs just GBP25.50.

"We aim to bring a new level of service and value to this rapidly growing sector. By combining 10 years of over-the-counter Pay Day Loans experience with the very latest technology to make the right lending decisions we can offer a genuinely market-leading product. That's why we can charge less than half the average cost of our competitors," says Steve Fenerty, Commercial Director, H&T.

Price comparison for GBP100 loan over 30 days:

Interest and Fees APR

Handtpawnbrokers.co.uk GBP15.00 448.3%

paydayuk.com GBP25.00 1413.1%

quickquid.com GBP29.50 2227.5%

wonga.com GBP36.72 4405.6%

Note: Prices taken from the lender websites on 18(th) July 2011. APR calculated based on the interest + fees on a 30 day loan.

The advantage for customers

Credit cards and overdrafts are notoriously complicated and it is often difficult for customers to understand the different charges for using the service. For all H&T Pay Day Loans, the arrangement is clear and agreed up front. "That simplicity, transparency and above all certainty helps our customers to make sensible decisions to manage their finances, " explains Fenerty.

For more information go to www.handtonline.co.uk/pda

About H&T

-- H&T is the UK's leading pawnbroking company with 150 stores and 45 GoldBars throughout the UK. It provides a variety of flexible finance options to customers in addition to pawnbroking including cheque cashing, payday advances and unsecured loans. Customers can also access loans using H&T's online pawnbroking service.

-- H&T also offers a gold buying service in its stores and in 45 smaller dedicated GoldBar Retail Mall Units throughout the country. Customers can also sell their gold items using H&T's postal service. Visit www.handtgold.co.uk and follow a simple step-by-step process.

Enquiries

H&T + 44 (0)20 8225 2738

Lucy Westcott

Marketing Manager

Pelham Bell Pottinger +44 (0)20 7861 3923

Polly Fergusson

___________________________

(1)    Source: Lloyds banking brochure based on GBP10 per day for a maximum 8 days plus 30 days interest at 19.3% AER. 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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