Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in May 2022 by 4% compared with the same month in 2021. The corresponding value of new business grew by 6% over the same period. In the five months to May 2022, new business volumes were…
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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 in May 2022 by 5% compared with the same month in 2021. In the five months to May 2022, new business was 2% higher than in the same period in 2021. The…
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New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes grew by 43% in May 2022. 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), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 20% in May 2022 compared with the same month in 2021. In the five months to May 2022, new business was 28% higher than in the same period in 2021. The credit card and personal loan sectors…
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Julian Hynd has been named as the new Chief Commercial Officer (CCO) at Redwood Bank. Hynd of two brings more than 30 years’ experience in financial services to Redwood. He was most recently the COO at Shawbrook Bank and has previously held senior roles within large multinationals, including First Rand, Siemens and Ford Credit Europe…
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Wages falling at record levels are pushing ever more people into financial distress as living costs continue to skyrocket. With average wages falling at the fastest rate in twenty years (since records began in 2001), pay growth is falling far short of keeping up with the steepling cost of living. This shortfall is coming about…
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Research by more2life has found that the total amount of debt owed by the over-55s will rise to £294 billion this year. The figure is up from £272 billion in 2021 and £209 billion in 2017. This is a leap of two-fifths (41%) in five years and the total is projected to soar even further…
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One in five businesses are struggling to be competitive as inflation hits 40 year high according to Time Finance. The company has revealed the extent of the cost of doing business crisis, with 91% of UK SMEs forced to hike their own prices in order to keep up with soaring operational costs. The alternative finance…
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