Admiral Loans has entered the direct-to-consumer car finance market, launching with HP, PCP and personal loan products. Admiral Loans said it also provides no-obligation quotes which won’t impact consumer credit scores. Admiral offers HP and PCP’s range loans. Scott Cargill UK Chief Executive Officer at Admiral Loans said: “Buying a car is one of the bigger…

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…

Risk and data science specialist Jaywing, has launched Archetype, a new risk technology product that uses Artificial Intelligence (AI), machine learning and deep neural nets to help lenders generate transparent statistical models and predict almost any outcome on almost any data set. Archetype uses true AI to generate more powerful models, significantly reducing the time…

A new report published the Institute of Fiscal Studies (IFS) suggests that a quarter of very low-income households have high debt repayments or are behind on bills or repayment. The size of overall unsecured household debt tells us little about how much ‘problem debt’ there is. Over 60% of unsecured debt is held by households…

The total value of fraud has risen 538% to £2.11bn in the last 15 years and is up 6.5% from £1.99bn in 2016. Volume of reported fraud increased 172% to 577, up from 212 cases in 2003. Fraud in the financial services sector increased dramatically in 2017 rising 318% to just under £900m according to latest research…

The average adult will shell out £4,600 on ‘financial’ New Year’s resolutions such as conquering their debts or moving house, according to a study. Expensive pledges such as paying off debt, buying a car and travelling the world are just as popular as traditional resolutions such as quitting smoking. The average person will attempt two…

Unsecured credit to UK households contracted in Q4 2017, the Bank of England’s (BoE) quarterly Credit Conditions Survey has found. Lenders also said they intended to tighten criteria for the unsecured credit sector, after an increase in default rates during Q4. Overall demand for unsecured lending products excluding credit cards fell during the period, for…

Figures released today show that 2017 was another record-breaking year for Bacs Payment Schemes Limited (Bacs), with over 6.34 billion payments, worth a total in excess of £4.9 Trillion, processed by the company behind Direct Debit in the UK. At the end of June 2017, a huge 111.7 million Direct Debits and Bacs Direct Credits…

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…

1 2 3 41