Why Bright House have been forced to repay £15m to its customers

Times are tight for many in the UK. Inflation is on the rise and there has been little or no real wage growth to speak of. The result is that, for families and individuals all over the country, there has been a real squeeze in household budgets that has left little room for bigger purchases. Step forward the rent-to-own sector, which was designed to give those on restricted incomes the opportunity to get credit on an item where a regular lender might refuse. What is rent-to-own? It is a sector that revolves around household goods, such as TVs, washing machines, furniture and computers. The idea is that if you’re not able to purchase one of these outright then you can do this via rent-to-own instead. Many of those who use the rent-to-own sector are struggling with a bad credit score and so wouldn’t be eligible for credit from a mainstream lender. Rent-to-own is meant to be an alternative way for people to pay rent on an item, such as a washing machine – and own it once that rent
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