Credit, Collections & Insolvency News
The £15 million supplementary levy imposed on mortgage brokers by the FSCS will hit the best-qualified brokers hardest, says the National Association of Commercial Finance Brokers (NACFB). Rob Lankey, CEO of the NACFB, said “Of course we welcome any move that protects borrowers. The steps we’ve taken to embrace regulation have not been cost-free and our…
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The number of debt decrees registered against Scottish businesses fell to the lowest recorded level during 2016, according to figures released today by Registry Trust. There were 3,523 business decrees in Scotland during 2016, 24 percent fewer than the previous year. The total value surged to £45.8m, the highest on record, but this was due to…
Read moreThe government has begun its sale of the student loan book, which it expects to recoup £12billion The universities minister, Jo Johnson, said the move would have “no impact” on student borrowers paying off loans, as terms and conditions would remain the same after the sale was completed. The sale covers £4 bill ion of…
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In the six months after the Brexit vote the number of decrees for debt against Scottish consumers fell to a record low. Over the year as a whole there was little change, so great interest will attach to the first half of 2017. There were 20,822 debt decrees registered against Scottish consumers in 2016, only one…
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Which? is calling for the regulator to act on un-arranged overdraft fees after new research finds charges from big high street banks could cost up to 180% of the amount borrowed. The Which? research has found that consumers needing as little as £100 could be charged up to £156 more by some major high street banks…
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