Credit, Collections & Insolvency News
As 2020 came to a close, the fuller picture of Covid-19’s effect on UK household finances continued to emerge, demonstrating the significant mounting financial impact of the pandemic, according to the January 2021 Money Statistics, produced by The Money Charity. Moving into the final month of 2020, the uneven and heavy financial burden being shouldered…
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Here is an overview of The Money Charity’s latest statistics for January 2021 Personal debt in the UK People in the UK owed £1,692.5 billion at the end of November 2020. The average total debt per household, including mortgages, was £60,720 and per adult was £31,940, around 108.0% of average earnings. Net mortgage lending rose by…
Read moreNew HM Treasury figures have revealed that the banking and finance industry has approved nearly £71 billion to over 1.5 million businesses so far through government-backed coronavirus lending schemes. Over 39,000 small enterprises have received a Bounce Back Loan over the past month, with a total of 1.47 million businesses accessing the scheme since it launched in May last…
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Shawbrook Bank has announced the acquisition of residential and buy-to-let markets specialist intermediary mortgage business, The Mortgage Lender (TML). Shawbrook, itself a specialist lender to UK SMEs, has agreed to acquire TML for an undisclosed fee in a strategic purchase that provides the Bank with substantial growth opportunities. TML will retain the brand that has…
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