Online research from Equifax has revealed the lack of awareness of banking options among consumers. When presented with a list of digital banks 60% hadn’t heard of any of the brands and only 20% would opt for a challenger bank if opening a new account today. The survey, conducted with Gorkana, showed 44% of consumers…

The 2018 winners of the UK’s largest consumer-voted awards for the consumer credit industry have been revealed at a ceremony in London. Launched in 2016, Birmingham-based not-for-profit Fair for You took home two awards, including ‘Best Alternative Finance Provider’ and the much coveted ‘Firm of the Year’, beating some of the UK’s largest consumer credit…

A higher percentage of women than men in England and Wales entered insolvency in 2017, continuing the trend of recent years, says insolvency trade body R3, commenting on the annual personal insolvency statistics released by the Insolvency Service. Looking at the geographical spread in the statistics, the North East and coastal towns such as Plymouth…

UK Finance has released its Mortgage Trends update for May. Highlights from the report include: There were 32,200 new first-time buyer mortgages completed in the month, some 8.1 per cent more than in the same month a year earlier. The £5.4bn of new lending in the month was 12.5 per cent more year-on-year. The average…

The Financial Conduct Authority (FCA) has called for considerate use of big data, artificial intelligence and machine learning algorithms in financial services. The FCA is urging firms to use the technologies in a way that is not detrimental to customers’ trust. Speaking at a Reuters event earlier in the week, Charles Randell, FCA payment systems…

The National Housing Federation, the Scottish Federation of Housing Associations, Community Housing Cymru and the Northern Irish Federation of Housing Associations, are joining together to warn that the Universal Credit system is “flawed” and causing debt, suffering and hardship for the families they house. Together these organisations represent more than 1,000 housing associations housing over…

A new survey from Aegon shows that 14% of people think they will still be paying their mortgage at age 70. The research says that traditionally, mortgages were paid off well before typical retirement ages but new research from pension and investment company Aegon has found that 14% of people believe they will still be…

New research from TDX Group has indicated that people living in East Anglia, Brighton and Newcastle residents are the most likely to be insolvent. Commenting on the research Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax said  “Our latest research shows a significant and growing disparity between the level of individual insolvencies across…

Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in May grew by 11%, compared with the same month last year. Credit card and personal loan new business together grew by 11% in May, while retail store and online credit new business increased by 8%. Second charge mortgage…

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