Credit, Collections & Insolvency News
Almost two-thirds of consumers believe banks and other financial providers should be doing more to help their customers during difficult economic times. While the majority of people in the UK plan to cut back on both essential and non-essential spending, one in five (19%) people in the UK say they still plan to borrow more…
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New analysis by UK Finance has indicated that lending to small and medium-sized enterprises SMEs has remained stable in the first half of 2022. The figures shows that gross lending to SMEs edged up higher to £5.1 billion in the second quarter of 2022, with demand for overdraft facilities remaining stable following a rise in…
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The Chartered Institute of Credit Management (CICM) and the High Court Enforcement Officers Association (HECOA) have formed an official partnership for the CICM to review and revise learning resources and qualifications for future High Court Enforcement Officers (HCEO). The new programme will see the CICM and HCEOA work together to further strengthen the assessment of…
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Almost one in two UK adults (47%) are considering taking on an additional job or getting an alternative source of income on top of their main form of employment amid the rising cost of living, according to new research by Comparethemarket. The trend is most popular among young adults aged between 25 to 34, with…
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As a reflection of long-term fixed-rate mortgages rising in popularity during the cost-of-living crisis, almost a third (32%) of homeowners coming to the end of their fixed term within the next three years will only consider remortgaging to a long-term fixed rate deal, according to new research by Comparethemarket. Traditionally, a two-year fixed rate deal…
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Business advisory and restructuring specialist Resolve has announced it has appointed Andrew Pepper as a new Partner to the practice. Pepper has over three decades experience in high-level roles across the restructuring and turnaround sector, including within the partnerships of BDO and Kroll Zolfo Cooper, and at Hilco Capital. Andrew’s focus will be on preserving…
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New statistics published by the Office For National Statistics (ONS) has revealed fraud offences increased by 25% (to 4.5 million offences) compared with the year ending March 2020, driven by large increases in advance fee fraud and consumer and retail fraud. The proportion of fraud incidents that were cyber-related increased to 61% from 53% in…
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Banks including Santander, HSBC and Yorkshire Building Society have suspended mortgage deals after a fall in the pound prompted forecasts of rising interest rates, with the lenders joining Virgin Money and Skipton Building Society in halting mortgage offers for new customers. Meanwhile, Nationwide said it will lift rates on a range of fixed mortgages, Lloyds…
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