Latest figures from UK Finance show 1.82 million mortgage payment holidays have been issued as of 20th May 2020 – equivalent to one in six mortgages issued by lenders. UK Finance says Lenders have welcome the FCA’s draft guidance consultation published today, and the PRA’s related publication, on the next steps for those borrowers already on…

European debt management services specialist Lowell has announced its results for the quarter ending 31st March 2020. The results show Lowell’s cash income increased seven percent to £952 million, from £892 million when compared with Q1 2019, while cash EBITDA also rose 14 percent to £508 million, from £444 million. Colin Storrar, Group CEO. at…

The big uptake of Government-backed covid-19 loan schemes raises important questions about small businesses’ concerns over their treatment as customers of the banks, according to a new independent report. The report says that issues arise from the statistically significant participation of Small and Medium Sized Businesses (SMEs) in Government-backed loan schemes. A tightening economy will…

Citizens Advice has urged the government to extend its measures to protect private renters from evictions before proceedings expire. The charity says that the Government has just one month to act before existing measures end. Citizens Advice is warning this presents a ‘cliff edge’ that will pitch some renters into long-term debt or homelessness. The…

One in ten families has asked family and friends for money to pay household bills according to new research by comparethemarket.com. The findings were part of the comparison specialist’s Household Financial Confidence Tracker, The company also says that the Government’s decision to start easing the nationwide lockdown has led to a pronounced drop in confidence…

Homeowners struggling to pay their mortgage due to Coronavirus will be able to extend their mortgage payment holiday for a further three months, or start making reduced payments, in proposals published by the Financial Conduct Authority (FCA). The FCA has published new draft guidance today for lenders which will set out the expectations for firms…