New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2018 was 36, 5.9% higher than in the same quarter in 2017. The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q3 2018…

The interim findings of the Financial Conduct Authority’s (FCA) Mortgage Market Study have highlighted the challenge of mortgage prisoners. In addition, the report says long-term and lifetime lending is another concern and that the FCA is looking to firms to use their common sense to make sure they’re matching the right products to the right…

The UK public sector outsourcing market recorded its highest quarterly performance since 2016 in the third quarter of 2018, as government departments focused on securing deals for IT and tech services, according to the Arvato UK Outsourcing Index. The research, compiled by business outsourcing partner Arvato and industry analyst NelsonHall, found that the strong performance…

R3 has welcomed the news that the Government has launched a consultation on introducing a “breathing space” for indebted individuals, Stuart Frith, President of insolvency and restructuring trade body R3, said “R3 welcomed the Government’s plans for a ‘breathing space’ for indebted individuals, during which they will have an opportunity to seek advice about their finances…

More than half of UK consumers (54 percent) would be ready to use biometric payment cards if they were available at their bank today, according to new research revealed by digital security leader Gemalto and conducted by GfK.  For 82 percent of consumers, it would even become their preferred payment card – generating a clear ‘top of…

The Insolvency Service has published the latest personal insolvency statistics for Q3 (July to September 2018) for England and Wales. The statistics show that total personal insolvencies fell by11% from a six-year high in Q2 2018 and are 2% lower than in the same quarter in 2017. This was driven by a decrease in individual voluntary…

The Government has that it will introduce a No-Interest loan scheme and breathing space plans as part of the Autumn budget announcement. Responding to the news The Money Advice says it ‘welcomes action’ on tackling problem debt, including the new details of the government’s Breathing Space scheme, plans to pilot a no-interest loans initiative and…

More than half a million low-income households are now receiving financial help to reduce their water bills, according to the Consumer Council for Water (CCWater). But the Watchdog Water has warned that about three-quarters of nearly 3 million customers who say their water bills are unaffordable will not receive a penny of support unless water…

Computershare says it has maintained its status as the best rated UK third-party mortgage servicer following the publication of a report on its operations by global agency Fitch. In its paper, Fitch Ratings affirmed Computershare Loan Services’ UK Residential Primary and Special Servicer Ratings as ‘RPS1-’ and ‘RSS2+’ respectively. Andrew Jones, Chief Executive Officer at…

The Financial Conduct Authority (FCA) has today published the complaints figures for regulated firms for the first half of 2018. Complaints continued to increase for the fourth successive half year, reaching a new record level of 4.13 million complaints made to 3,161 firms. This was a 10% increase compared with the previous 6-month period. 98%…