Putting £2000 in cash as collateral to obtain a loan of £2000?

LOVE IT!

 FOUND SOLUTION!

https://www.loqbox.co.uk/faqs/

GENIUS


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Today I tweeted as ClearScore.

I'm pretty sure they display loans that are available to me.

Because my credit score is low, only a ridiculous APR is available (think Zimbabwe or Venezuela)



So now I have an idea for a new product.

Maybe if I put £2000 in cash as collateral, the loan of £2000 will be virtually risk-free?

(that way I'll be able to prove that I'm capable of repaying the loan, increasing my credit score as a result)

For reference, the Bank of England rate is 0.75% https://www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate



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