Credit, Collections & Insolvency News
New figures released today by the Finance & Leasing Association (FLA) show second charge mortgages increased by 21% in November. Commenting on the November 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The market has reported a…
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Cardstream has announced a fraud prevention alliance with Gala Technology, aimed at protecting thousands of embattled Card Not Present Mail Order Telephone Order (CNP MOTO) merchants. By embedding Gala’s SOTpay technology into its Merchant Management System, Cardstream has ensured that its rapidly expanding network of reseller Partners and tens of thousands of merchants will have…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017. Credit card and personal loan new business together grew by 1% compared with November 2017, while retail store and online credit new business increased by 2%. Second…
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In the past six months, there has been a slew of reports calling for a fundamental change to public sector – and particularly council – collections. From the Treasury Select Committee to Citizens Advice and the Money Advice Service, the message is that the public sector needs to alter its approach. The disparity between the…
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The Financial Conduct Authority (FCA) has revealed plans to free ‘mortgage prisoners.’ Mortgage prisoners are defined by around 140,000 homeowners are trapped on loans with high interest rates. The plans were revealed by the FCA’s Chief Executive Andrew Bailey’s letter to the Treasury Committee on improving switching options for mortgage customers who are currently unable to do so,…
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The number of UK business insolvencies is set to rise by 9% this year, even if a deal is agreed with the EU before the Brexit deadline, according to trade credit insurer Euler Hermes. The company’s latest Global Insolvencies Index reveals a further 23,660 businesses are expected to become insolvent in 2019 compared to last…
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The European non-performing loan (NPL) market reached a new peak in 2018 with disposals totalling EUR 205.2bn in gross book value (GBV), according to the new European NPL FY 2018 report, published by Debtwire ABS. Debtwire NPL Database tracked 142 transactions. The last quarter saw a particularly intense pace of activity, given that at the…
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Annual household bills have risen by over £550 in the past three years according to new findings from comparethemarket.com– increasing three and a half times faster than inflation over the same period. The new research, which analyses the average cost of energy, home and motor insurance since 2015 has shown a relentless rise in bills for…
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Arvato Financial Solutions (AFS) has appointed a new CEO for the UK market Debbie Nolan, who has spent the last one and a half years as Commercial Director for AFS will take up the position with immediate effect. Arvato Financial Solutions provides professional financial services to renowned international brands as well as respected local businesses.…
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