25th May 2022 - Credit Connect

Equity release plan sales surge by 21%

25th May 2022 Alternative Consumer Lending | #equity release

Equity release plan sales surged by 21% as the value of equity released increased by 30% as older homeowners released an average of £111,500 in property wealth in the first three months of the year, data from equity release adviser Key Later Life Finance shows. Plan sales surged by 21.4% in the first three months…

PSR announces proposals to make more financial firms adopt confirmation of payee

25th May 2022 Consumer Lending | #payments

The Payment Systems Regulator (PSR) has announced its plans that will see around 400 more financial firms provide Confirmation of Payee (CoP). This essential fraud protection service will increase coverage from 92% of transactions made via Faster Payments (FPS) and CHAPS (when you make a payment transfer from one account to another) to 99% worth…

Interest only mortgage stock falls by 15%

25th May 2022 Consumer Lending | #mortgages

New research by UK Finance has found that the stock of outstanding interest-only mortgages fell by 15 per cent in 2021, compared with the position at the end of 2020. The concerted industry strategy to manage down the size and risk profile of the interest-only book has seen it reduce by over two thirds since…

Energy price cap likely to rise to £2,800 in October

25th May 2022 Arrears and Recoveries | #energy debt

Ofgem boss Jonathan Brearley has told MPs the regulator expects the price cap to increase by more than £800 this October as the war in Ukraine continues to exacerbate the energy crisis. Appearing before the Business, Energy and Industrial Strategy (BEIS) Committee both Brearley and former Ofgem Chief Executive Dermot Nolan apologised for not intervening…

Tandem Bank appoints Chief Impact and Marketing Officer

25th May 2022 Appointments | #appointments

Digital bank Tandem has announced the appointment of a key appointment within its executive team. Georgina Whalley joins Tandem in the newly created senior role of Chief Impact and Marketing Officer. Whalley is mandated with accelerating and amplifying Whalley joins Tandem having held senior roles at global consumer fintech Openpay for the past three years,…

CSA wins apprenticeship training provider award

25th May 2022 Company News |

The Credit Services Association (CSA) has been recognised at the Lincolnshire Apprenticeship Champion Awards 2022. CSA were winners of the Training Provider award, having been nominated by Lincolnshire Trading Standards for its compliance and risk training. Feedback from the judges praised the work of the CSA stating: “Credit Services Association designed a programme that supports…

Connected Data appoints General Counsel

25th May 2022 Appointments | #appointments

Connected Data has announced that has appointed Emma Peach as General Counsel and Data Protection Officer. Peach brings with her over 30 years of experience in commercial and privacy law, having held senior leadership roles across some of the world’s largest organisations in the data and financial services space, including Experian and TransUnion. She has…

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