Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 26%in December 2020. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer & Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge…
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The rapid roll-out of coronavirus vaccines and declining case numbers have made many households optimistic about their financial prospects, according to the latest Household Financial Confidence Tracker from comparethemarket.com. Nearly four fifths (79%) of households found paying their bills manageable over the past seven days and 82% are confident they will be able to meet…
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The Financial Conduct Authority (FCA) has released its latest Financial Lives survey (FLS), looking at consumers’ financial situations, the financial products they choose and their experiences of engaging with financial services firms. The FCA concluded its FLS research in February, and ran an extra survey in October in order to understand the impact of the…
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Lenders risk being overwhelmed by credit applications when the UK lifts lockdown restrictions, according to data specialist LendingMetrics. The company behind the award-winning ADP automated underwriting platform fears a leap in demand for finance when the country returns to more normal conditions. It predicts this to be likely by June or July, if the vaccine…
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Business advisory firm Quantuma has strengthened its London team with the appointment of new director, Yin Lee. Lee joins Quantuma from David Rubin and Partners – a boutique insolvency practice where she acted on a range of corporate insolvencies. Prior to entering the insolvency field, Lee was a qualified solicitor. Lee will be an appointment…
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Consumer spending fell in January at the fastest rate in seven months, according to Barclaycard. Overall consumer spending shrank by 16.3% in year-on-year terms last month – much sharper than the 1.9% fall in November. The fall in spending was the sharpest decline since May 2020, as the retail, hospitality and travel sectors felt the…
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A new report by the Resolution Foundation has highlighted that unprecedented Government support has helped firms to increase their cash holdings during the current crisis, but further support will be needed in the Budget to ensure they can drive Britain’s recovery The report says that while overall corporate debt levels are not a major concern,…
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