Families on low incomes are being exploited by so-called rent-to-own suppliers of household appliances, a children's charity has warned. Barnardo's said rent-to-own lenders should be forced to display the equivalent High Street price of the product and make interest rates clear. It said the Office of Fair Trading must address the "morally bankrupt" market. One leading rent-to-own lender said its services allowed consumers to buy items that may otherwise be too expensive. Brighthouse said it was a "responsible lender". "Our rent-to-buy model allows low-income families access to a range of products that they might not otherwise be able to afford," the company said in a statement. The OFT said that actions needed to force market changes were beyond its remit.

Barnardo's said consumers were paying up to 150% more for some standard household appliances. It cited a three-year rental arrangement with a well-known weekly payment store that cost £1,074 for a fridge freezer, compared with a High Street price for the same product of £430....Read more here--: BBC News - Rent-to-own credit sector