Credit, Collections & Insolvency News
Latest figures from UK Finance have shown that new later life mortgages dropped 7% in Quarter (Q3) 2021. The figures showed that there were 44,130 new later life mortgages in Q3 2021, with total lending in the quarter of £6.46 billion. This represents a 7% decrease in mortgage volumes compared with Q2 2021, but a…
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The Financial Conduct Authority (FCA) has reformed its decision-making process to ensure it can make faster and more effective decisions for consumers, markets and firms. As part of its transformation to a more innovative and assertive regulator, more decisions will be taken by the FCA’s senior managers rather than by the Regulatory Decisions Committee (RDC). The…
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Enforcement specialist Bristow & Sutor has scored 100% score in a recent audit by the Civil Enforcement Association (CIVEA). Trade association, CIVEA represents enforcement firms across England and Wales. All members, including Bristow & Sutor, are required to follow a strict code of conduct, which exceeds statutory requirements and the National Standards. This code aims…
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Here is an overview of The Money Charity’s latest statistics for November 2021 Personal debt in the UK People in the UK owed £1,749.2 billion at the end of September 2021. The average total debt per household, including mortgages, was £62,938 and per adult was £33,072, around 108.6% of average earnings. Net mortgage lending rose by…
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Independent restructuring and advisory firms BM Advisory and Moorfields Advisory have announced a merger, enhancing their ambitious growth plans and providing a strong all-round service proposition to the market across the UK. The merged businesses will continue to operate under the Moorfields Advisory brand, bringing together two like-minded practices with a shared ethos of partner-led…
Read moreNew analysis by Age UK has shown that without more Government financial help, fuel poor older households will top a million by the Spring. The charity has warned that soaring energy costs will push an estimated 150,000 extra older households into fuel poverty this winter as a result of of soaring energy prices. With around…
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Consumers will be able to get access to better financial products and services, as Experian launches a new service to help lenders provide even faster, more accurate and bespoke lending decisions. Work Report™ is the first digital verification service that will allow consumers to consent to digitally share their payroll information with another organisation. It…
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