More than 300,000 UK households are using illegal money lenders to support their finances, the Illegal Money Lending Team has said.
Citing a recent study by the FCA, the BBC said loans sharks are operating in Post Offices, casinos and even at school gates - handing out cards to children asking their mothers to call them if they need new trainers,
But the FCA also admits it is difficult to identify and quantify unauthorised lending activity.
If caught, illegal lenders face fines or imprisonment, but borrowers feel secret shame and often don't tell people they've borrowed from a loan shark.
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In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
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