Santander has become the latest bank to introduce a single debit interest rate (EAR) of 39.9% for arranged overdraft borrowing – customers will pay 9p per day per £100 borrowed, in addition, all unarranged overdraft charges and paid / unpaid item fees will be removed meaning that  86% (six out of seven) of Santander customers…

Paragon has appointed Richard Rowntree as Managing Director of Mortgages to spearhead growth across its mortgage businesses. Rowntree joins from the Bank of Ireland, where he was Managing Director of UK Mortgages and will be responsible for Paragon’s lending activities across buy-to-let, second charge and residential mortgages. Rowntree takes over from John Heron, who retired this…

New research published by digital business banking platform,  Tide has revealed that SMEs across the country are chasing more than £50 billion worth of late payments. Tide surveyed 1,000 CEOs, founders directors and senior management staff at SMEs in December to analyse their use of time during their working day. The study found that the…

Business lender, Spotcap has announced that Ian Mills and Duncan Ballingall have joined the UK team as Partnership Manager and Underwriter, respectively. Mills and Ballingall will support Spotcap in helping a growing number of UK businesses with swift and flexible unsecured loans. Mills joins from Boost Capital. He has over 20 years of experience working…

Audit, tax and consulting firm RSM has announced  growth plans for its creditor services business, including substantial new investments in products, people and premises. As part of a long-term strategy, the firm is further enhancing its product portfolio designed to help businesses manage credit risk among suppliers and customers. Significant investments are being made in…

Low-income households have seen the fastest rise in the use of consumer debt since the financial crisis, and are too exposed to financial shocks, according to new research published by the Resolution Foundation. The ‘An outstanding balance?’report explores changes in the use of consumer debt – including credit cards, store cards, mail order and hire…

Credit risk specialist Jaywing has been appointed to support the growth of HSBC’s expat business, which provides specialist support to people living and working abroad Through its data-driven and creative capabilities, Jaywing’s work looks to help the Bank uncover the next generation of expats. Jaywing’s remit extends to developing the HSBC Expat brand across all touchpoints…