Credit, Collections & Insolvency News
New research by Evolution Money has indicated that second charge mortgages more likely to be used for debt consolidation. The company analysed data from two different types of its second-charge mortgage products, split between those borrowers using the loans for debt consolidation purposes, and those clients who have prime credit ratings. The research showed a…
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Businesses are reporting that they are losing £8 for every £100 billed in the last year due to the non-payment of invoices, according to the research by trade credit insurer Atradius. The research barometer reveals nearly half (44%) of the total value of UK B2B sales were reported overdue this year and a further 8%…
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Metro Bank has been fined £5,376,000 for accounting errors that forced the bank to raise £375 million from its shareholders to shore up its balance sheet. In January 2019 Metro disclosed errors in its accounting treatment of professional buy-to-let loans and loans secured by commercial mortgages. The mistakes went back to May 2016 and meant…
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The pace of UK consumer price rises has been higher and faster than forecast by most, bringing significant challenges ahead for households in the winter months. Financial forecasts have been defied this month with considerable increases in consumer prices across the UK. In the year to November 2021, the CPI (Consumer Price Index) increased by 5.1%, 0.9% higher…
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