Here is an overview of The Money Charity’s latest statistics for January 2018: Personal debt in the UK People in the UK owed £1.566 trillion at the end of November 2017. This is up from £1.512 trillion at the end of November 2016 – an extra £1,040.96 per UK adult. Per adult in the UK that’s an average…

The Consumer Finance Association (CFA), the principal trade association for short-term lenders, has appointed Lucy Donovan as their Head of Communications, a new role that will cover public relations, public affairs and member engagement. Lucy joins the CFA after six years with one of the UK’s largest short-term lenders, where she held various communications roles.…

New figures released by the Finance & Leasing Association (FLA) show a growth in new business of second charge mortgages in November 2017. Commenting on the 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 mortgage…

New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in November, compared with the same month in 2016, while the value of new business increased by 2% over the same period. The percentage of private…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in November by 5%, compared with the same month in 2016. Credit card and personal loan new business together grew by 3% compared with November 2016, while retail store and online credit new business increased by 13%. Second charge…

Rapid growth in Britain’s consumer credit has been driven by borrowing by people with good credit scores, not subprime lending, according to research the Financial Conduct Authority (FCA) and Bank of England (BOE). Unsecured consumer lending grew at near double-digit rates in 2016 and 2017, and concern that lenders had overestimated their borrowers’ creditworthiness led…

Bridging lender Octane Capital has announced that Graham Macaulay has been appointed as Senior Credit Manager. Macaulay will report to Matt Smith, Octane Capital’s Director of Credit. Matt Smith commented on the appointment “Graham’s understanding of risk is superb and to have him on board is a significant coup, not to mention a great start…

Credit broker John Charcol has appointed Matthew Jackson as its new Head of Sales. Jackson joins from Niche Finance Group where he was Senior Associate Director responsible for managing a team with an annual turnover of £9m. Previously he has worked at Countrywide Mortgage Services and Connells Group. In his new role at John Charcol,…

New research by TSB has revealed that 70 percent of consumers do not know the difference between a soft and hard credit check.  This is potentially costing borrowers around £418 each in extra interest on a typical loan. The majority (61%) of providers perform unnecessary hard credit checks when a consumer looking for a personal…

New figures released by the Finance & Leasing Association (FLA) have shown that new business figures for the second charge mortgage market have continued to grow. Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported growth in October, with new business up…

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