Credit, Collections & Insolvency News
Like many of you reading this, I have been doing the rounds at several SM&CR events focused on the extension of the Senior Managers and Certification Regimes of late and have picked up (as well as delivered) some useful insights into the good and the bad experiences across the banking sector and the similarities or…
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Has the desire for better consumer protection, without full consideration of what is financially and technologically possible, placed both customers and the industry into a position which in the long-term is untenable? Following the financial crisis of 2007/8, the UK regulators and particularly the Financial Conduct Authority (FCA) have sort to put consumers of finance…
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March 2019 saw the Prudential Regulation Authority (PRA) publish a new consultation paper (CP 5/19), proposing several updates to the current Pillar 2 capital framework. The March proposal does not introduce substantial changes in direction, but rather clarifies and formalises certain elements of the Pillar 2 capital assessment processes, to reflect the significant developments in the…
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More than three in four small business owners (76%) say business worries keep them awake at night. Whilst sleepless nights are most prevalent among owners of businesses that in serious decline (96%), the new research from Hitachi Capital Business Finance found that even those predicting growth for their business admit they seldom get a good…
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The Bank of England has published its latest Money and Credit statistics, showing consumer credit growth slowed to 6.4 percent in the past year as consumer credit increased by £0.5 billion in March, the lowest increase since November 2013. The weakness was largely due to a fall in new lending for car finance. Outstanding balances…
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Fiduciam, the short to medium term lender, has announced a key hire which has enabled it to expand its lending activities in the north of England and open a new office in Manchester. The company has hired Chris Parr to head up its new northern office. Parr has worked in bridge lending for over 12…
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New research from Begbies Traynor, the UK’s leading independent insolvency firm, reveals there are now 484,000 UK businesses in significant financial distress, with the property sector particularly affected, giving rise to concerns that the UK could suffer a broader economic slowdown. The Red Flag Alert data for Q1 2019, which monitors the financial health of…
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A new report published by Oxford Economics has found that a decade after the financial crisis, bank lending to small businesses has failed to recover significantly. The “Big Business of Small Business” report, launched in partnership with Funding Circle, finds that small business lending makes up a tiny proportion of banks’ overall balance sheets. In the UK,…
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Home collected credit lender Morses Club has announced changes to the board of the company. Baroness Simone Finn has been appointed to the Board as an independent non-executive director and Chair of the Audit and Risk & Compliance Committees with effect from 5th May 2019. Baroness Finn is a member of the UK House of Lords. She is a former…
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Accountancy firm KPMG has announced it has a new Partner in its Manchester office. Rick Harrison, will work in the firm’s restructuring practice. Rick brings more than fifteen years’ experience in corporate restructuring, turnaround, refinancing and insolvency to KPMG. Harrison joins the firm from Deloitte where he worked with corporates, lenders and financial sponsors to…
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Business lenders White Oak and Spotcap have entered into a partnership to improve access to finance for UK businesses. White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides fully unsecured business loans, without the need for a personal guarantee. With over 400 lenders operating in the UK market, yet…
Read moreLeeds legal firm Clarion has appointed Daniel Carlton as Manager in its growing debt recovery team. Carlton has more than 20 years’ experience advising and developing debt collection and credit control services for a variety of clients from sole traders to PLCs. Over the last 10 years, he has specialised in advising the leisure industry…
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