well if you are in the loans business, you would imagine that...

well if you are in the loans business, you would imagine that the lender understands how interest rates work....to offer fixed rates while borrowing at variable rates seems an insane business model.

Virtual mastercard and Perdonal loans at the end of last financial year made up ~90% of their business (Car loans plus societyOne will change that), but looking at their website NOW does not show any fixed rate options (unless you are taking about the virtual mastercard for which you pay a low low rate of 15-20% interest (personal loans start from 7% and go up to 22%).

There are plusses and minuses for such a business in a recessionary environment - potentially more people default on their loans, but the other side is that there is more demand for credit, moneyme have more opportunity to pass on higher rates so perhaps even better margins if they can manage the source of their funds.....the latest ABS seems to indicate that business is still coming in and they need that money and at the same time there is demand from institutional investors for those ABS