The Money Advice Service has published The Economic Impact of Debt Advice, a report that demonstrates a financial return of up to £960m per year to the UK economy.  This is in the context of an estimated £150m and £200m total annual investment in debt advice. The research, undertaken by Europe Economics, builds on work previously…

First Minister of Scotland Nicola Sturgeon has called on the new Secretary of State for Work and Pensions to make urgent changes to Universal Credit (UC) – as she backed warnings from Scotland’s Children’s Commissioner Bruce Adamson over the ‘disproportionate effect’ of UK Government welfare policies on young people. The First Minister and Mr Adamson…

Financial inclusion as a concept can stir mixed feelings in some people: on the one hand it means bringing as many people in to the safety of the financial mainstream as possible, away from those services on the fringes designed primarily to rip off people in vulnerable financial circumstances. On the other hand financial inclusion…

Hyundai has appointed Michael Stewart as fleet director. Stewart, who replaced Guy Pigounakis. Tony Whitehorn, President and Chief Executive Officer for Hyundai Motor UK, said: “Michael Stewart’s appointment is an important one for Hyundai UK as we work on growing our market share, building on the reputation we’ve earned from fleet operators large and small.”…

The Financial Conduct Authority (FCA) has published a report setting out feedback received from roundtables on its review of high-cost credit. The report summarises the issues and ideas raised by participants to three FCA roundtables, hosted in September and October 2017. The roundtables covered two areas: a general discussion on alternatives to high-cost credit, and…

Guarantor loans specialist, Buddy Loans, has received full accreditation from the Financial Conduct Authority (FCA). The company which is based in Cheadle, Cheshire, was set-up in 2013 by entrepreneur Nicholas Zapolski to provide consumers, who have been refused loans by mainstream lenders, with affordable and accessible credit. Recently Buddy Loans has secured an investment of…

Paragon Banking Group has reported underlying profits of £145 million as it unveiled its full-year results for the period ended 30 September 2017. Total lending grew by 29% to £1.9 billion and included a 21% increase in buy-to-let mortgage lending, with buy-to-let completions reaching £1.4 billion for the year. This strong growth highlights Paragon’s favourable…

Blair Nimmo has been named as Global Head of Insolvency at KPMG. Nimmo has more than 30 years’ experience of corporate restructuring, including advisory and formal insolvency. Nimmo succeeds Richard Heis, who retired from the firm earlier in the year. Nimmo joined KPMG in 1991, after training with Cooper and Lybrand’s restructuring practice. In March…

20% of restaurant businesses in the UK currently exhibit warning signs that they are at risk of going insolvent according to new research by Moore Stephens. The research shows that 14,800 restaurants are faced with the threat of going under as Brexit and rising labour costs put a strain on the industry. Since the Brexit…

Computershare has launched a £20,000 charity fund to help prevent financial hardship and support those experiencing money problems. From December Computershare’s Loan Services division will donate up to £5,000 to good causes every quarter, and is currently seeking submissions from charities wanting funding for initiatives focused on financial difficulty. Andrew Jones, Chief Executive Officer at…