Credit, Collections & Insolvency News
The Bank of England has released its latest Money and Credit statistics which show that net consumer credit growth remained at 6.1% in January, stabilising after the downward trend seen over the past three years. Meanwhile, mortgage approvals for house purchase rose to 70,900, the highest since February 2016. Whilst UK businesses made net repayments…
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Council tax debt is growing in Scotland, with Citizens Advice Scotland (CAS) finding that its clients are almost £7 million in arrears. Figures from the charity’s network also suggest that the average debt (£3,102.46) is now almost three times that of the average bill (£1,147). Following up on the findings, CAS is now launching a…
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British Business Bank’s Small Business Finance Markets 2019/20 report has highlighted a significant long-term growth in alternative finance volumes over the last five years, with a 32% increase in asset finance, a 131% increase in equity finance and a 374% increase in marketplace business lending. The British Business Bank was set up in 2014, with objectives…
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G3 Remarketing has announced that Oodle Car Finance will join the growing number of finance vendors to utilise their auction lanes to dispose of vehicles in 2020. Established in 2015, Oodle Car Finance have funded over £660million of car finance to more than 50,000 UK customers. Oodle have grown significantly over the last 12 months…
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Loan applications processed by automated underwriting technology soared at LendingMetrics over the past year. The company has processed over 10 million transactions on its platforms during the last 12 months. The figure represents an increase of more 120% on the previous year, with all sectors of the business surging. ADP – the company’s award-winning credit…
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The average insolvency rate amongst individuals in ‘red wall’ constituencies is 27% higher than the UK average, according to research by UHY Hacker Young. ‘Red Wall’ constituencies are areas in the midlands and northern England which have historically supported the Labour Party but voted for the Conservatives in the 2019 General Election. The average insolvency…
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