A total cost cap on rent-to-own items like washing machines, fridge freezers and televisions could save consumers £276 (28%) per product, new analysis from Citizens Advice has found. The national charity has modelled the impact its proposed total cost cap in the rent-to-own sector would have. The FCA has indicated it will implement a cap…

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…

Money Advice Scotland has announced that it has appointed David Hilferty its new Deputy Chief Executive. Yvonne MacDermid, CEO of Money Advice Scotland, said: “I am delighted that David has been promoted and accepted the post of Deputy Chief Executive. This new appointment will strengthen our team, and our ability to deliver on our five-year…

The Money Advice Liaison Group (MALG) has announced that is looking for a new Chair. Current MALG Chair Liz Barclay will step down later this year after three years in the role. MALG says the new Chair must be passionate about improving the lives of people in problem debt; someone with influencing skills and ambition to…

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…

Hoist Finance has announced that it has entered into an agreement to acquire a French non-performing retail mortgage portfolio with approximately 1.000 claims and an outstanding balance of approximately 1.000 MSEK. The seller is one of the largest mortgage banks in France and the portfolio acquisition represents an investment in excess of €50 million. Fabien Klecha,…

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…

EDF Energy’s has announced that it is raising the price of its Standard Variable Tariff (SVT) by 6%. This follows a previous price rise of 1.4% announced in April Responding to the news Gillian Guy, Chief Executive at Citizens Advice said “This price rise is a bitter blow for loyal EDF Energy customers, who will be dismayed to…

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