Here is an overview of The Money Charity’s latest statistics for September 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. People in the UK owed £1.5955 trillion at the end of July…

High-cost short-term lender CashEuroNet UK has topped the latest the Financial Ombudsman (FOS) complaints table. Complaints against CashEuroNet UK shot up by more than 200 per cent in the first half of this year – more than double the rate that drove rival Wonga into administration. But the data, from the Financial Ombudsman Service (FOS), which adjudicates…

Close Brothers has announced that it is selling its point-of-sale (POS) retail finance business to Swedish consumer lender Klarna, as it decides to focus on secured lending products, which include leasing and motor finance. The acquisition will significantly strengthen Klarna’s position in the UK market for retail financing and will enable accelerated growth and expansion of…

The winners of the second annual Credit & Collections Technology Awards were announced last night at the Credit Services Associations’s annual Gala dinner at the Crown Plaza in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation were revealed. Stay tuned…

The UK’s younger generations have increased the amount of debt they owe over the last five years according to analysis within Arrow Global’s consumer research report(Table 1). Significant numbers of millennials also don’t know how much interest they are paying (Table 3), according to the 2018 Debt Britain research from Arrow Global. The findings reveal…

Lending criteria sourcing provide, Knowledge Bank has announced that is now offering brokers the ability to perform criteria searches within two lending types: Bridging and Commercial. The addition of the new sectors has added over 9,000 individual criteria to the Knowledge Bank system taking the total criteria held by the system to over 70,000.  This…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in July by 9%, compared with the same month last year. Credit card and personal loan new business together grew by 11% compared with July 2017, while retail store and online credit new business increased by 4%. Second charge…

New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes up by 5% in July. Commenting on the July 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge…

Experian has announced that it is introducing a “real rates” service to the credit card market so consumers will now know exactly what deal they’ll be getting. In a transformative change to the way consumers shop for credit cards, those using Experian’s comparison services will see the actual rate they’ll get when shopping for cards…

Rent recognition platform CreditLadder and financial network Bud have launched a  new partnership designed to help customers become more creditworthy and get on the property ladder. Bud offers a connected network that helps banks to collaborate with fintechs on creating new experiences for their customers. It’s a service that Bud has developed and piloted with HSBC/First…

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