Credit, Collections & Insolvency News
Payment delays in Asia have increased, according to new economic research by leading trade credit insurer Atradius. The company’s Payment Practices Barometer measures the changing pattern of payment behaviour in B2B trade. In a survey conducted in March this year, Atradius found that businesses in Asia reported more than half (52%) of B2B invoice payments…
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The. British Business Bank has announced that it has appointed Catherine Lewis La Torre as its Interim Chief Executive Officer (CEO). Lewis La Torre currently holds the position of CEO of the Bank’s two commercial subsidiaries, British Patient Capital and British Business Investments. In October 2019, Keith Morgan CBE announced that he would be standing…
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The Bank of England has published it’s latest Mortgage Lending and Administrators Statistics which show that the value of outstanding balances with some arrears increased by 1.8% over the quarter to £13.7 billion, and now accounts for 0.91% of outstanding mortgage balances. The statistics also showed that the outstanding value of all residential mortgages loans…
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Starling Bank has announced partnered with Jaywing to provide support developing an IFRS 9 modelling framework for the calculation of IFRS Expected Credit Losses on the Coronavirus Business Interruption Loan portfolio. The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to small businesses affected by coronavirus (Covid-19). The initiative aims to provide government-backed loans…
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The impact of the Coronavirus on the lives of consumers may lead them to consider consolidating loans to pay off debt leading to a healthier financial situation. according to analysis by Moneyfacts.co.uk The company says that despite a drop in base rate by the Bank of England, interest rates on unsecured personal loans are starting…
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Households that use prepayment meters are paying significantly over the odds for their energy when compared with those on a standard credit meter. New research from comparethemarket.com has revealed that 4.1 million customers are each paying on average £94 more a year for their energy than they would pay on a standard credit meter. Nationwide,…
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New research from data insight specialist Consumer Intelligence has indicated that homeowners are considering cancelling their insurance as the cost of insurance rises to create further financial strains. The research shows the cost of buildings and contents insurance has risen 0.5% in the last 3 months (to an average premium of £151), but remains competitive,…
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