Payday loans neon sign

Payday futures: sub-prime credit markets in transition?


Barrow Cadbury Trust (Economic Justice Programme) and Carnegie UK Trust (Enabling Wellbeing)

Total value of project

£60,000 Barrow Cadbury Trust
£28,904 Carnegie UK Trust

Value to Coventry University


Project team

Dr Lindsey Appleyard


Toynbee Hall

Duration of project

01/12/2016 - 04/04/2018 Barrow Cadbury Trust
01/01/2018 - 04/04/2018 Carnegie UK Trust

Barrow Cadbury Trust logo

Project overview

The project investigated the impact of the regulation of UK payday loans or High-Cost, Short-Term Credit (HCSTC) and how this is reshaping credit markets for borrowers.

Project objectives

The project explored the impact of the cap on the cost of HCSTC since January 2015 on lenders and borrowers, and the subsequent impact on the broader credit market. The project mapped the subprime credit landscape to show how it has changed since the regulatory changes to assess where people now access credit such as through credit unions, unregulated or illegal sources.

 Queen’s Award for Enterprise Logo
University of the year shortlisted
QS Five Star Rating 2023