Credit, Collections & Insolvency News
New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 67% in September 202 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA),…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 1% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business was 13% higher than in the same period in 2020. The credit card and personal loan sectors…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported a fall in new business volumes of 21% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business volumes were 9% higher than in the same period in…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 6% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business was 20% higher than in the same period in 2020. The…
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New data from Time Finance has revealed that 70% of businesses are suffering from late payments from their customers. Uncovering the true severity of the issue, the leading alternative finance provider found that late payment debt was as high as £200,000 for one in five business owners. The findings come despite the government introducing a…
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Recent changes to laws around insolvency could cause major problems for suppliers according to Bishop & Sewell. The London law firm is recommending that companies proactively review their commercial relationships and, where necessary, take steps to re-negotiate contracts and reduce their exposure to creditors. George Marques, a Senior Associate Solicitor in Bishop & Sewell’s Corporate…
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Following a competitive tender process EQ Credit Services (EQCS), part of Equiniti Group plc, has announced that it has been awarded a five-year contract to handle the equity loan administration and servicing of the Help to Buy scheme on behalf of Homes England. The partnership will require EQ Credit Services to manage the programme on…
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Legal and professional services business Knights has announced the launch of its debt advisory services, making it the first UK legal services business to establish a specialist debt advisory offering. Knights’ specialist debt advisers act independently from lenders, offering clients a unique proposition whereby they can receive both debt and legal advice from one trusted…
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