Businesses give back £1.3 billion in furlough cash

22nd September 2021 Business Lending |

British businesses buoyed by the UK’s economic recovery have returned £1.3 billion in furlough cash, according to new statistics from the Government. The figures show that firms who have overclaimed or decided they no longer need payments received through the Coronavirus Job Retention Scheme handed back £300 million in the last three months. In total,…

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Retirement interest-only mortgage applications increase by a third

22nd September 2021 Arrears and Recoveries |

New research by Hodge Bank has seen Retirement Interest Only (RIO) mortgage applications increase by more than a third. The bank has seen a 36% increase in the number of RIO mortgage applications in 2021, compared with last year. The total value of RIO mortgages with Hodge has also increased by 31%, although the average…

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Call for interest-free loans for renters when furlough ends

22nd September 2021 Arrears and Recoveries |

Private renters and landlords across the country face a cliff edge as the end of furlough coincides with cuts to benefit support. With the Bank of England warnings indicating that renters are more likely than any other group to have lost their jobs or been furloughed, the National Residential Landlords Association (NRLA) argues that many…

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EQ Credit Services appoints new Managing Director

22nd September 2021 Appointments |

EQ Credit Services (EQCS), the consumer credit technology and outsourced services provider, has announced it has appointed Sarah Jackson as its new Managing Director. Jackson takes the reins from departing Managing Director Richard Carter, who steps down having grown EQCS to be the UK’s leading provider of loan management systems and one of the country’s largest standby…

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Nearly 75% of people want to set their own contactless limit

22nd September 2021 Consumer Collections |

A new study by KIS Finance has revealed that 73.1% of people want the option to set their own contactless limit. From 15th October 2021, the limit for contactless payments will increase from £45 to £100 per transaction. The Chancellor, Rishi Sunak, has stated that this “will make it easier than ever to pay safely and…

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Low earners have lost their ‘job satisfaction premium’

22nd September 2021 Consumer Collections |

Huge changes in the world of work over the past 30 years have led to people having a greater attachment to their work, but also rising levels of stress and falling levels of control, which has coincided with low earners losing their ‘job satisfaction premium’ over higher paid colleagues, according to new Resolution Foundation research.…

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