Credit, Collections & Insolvency News
Latest Office for National Statistics (ONS) figures that showed monthly GDP fell by 0.5% in December 2022, leading to an overall estimate of a flat economy in the final quarter of the year. Whilst the Bank of England is predicted we’re still heading for a recession later this year, but it will be shorter and…
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Latest figures from the Ministry of Justice (October to December 2022) for England and Wales have revealed that mortgage possession claims increased by 23% in Q4 last year compared to the same quarter in 2021 from 2,570 to 3,160, while repossessions by county court bailiffs increased by 123 from a lower base (313 to 733). Commenting, Myron Jobson, Senior…
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Latest figures from the Ministry of Justice (October to December 2022) for England and Wales have revealed that landlord repossessions increased by 98% at the end of 2022 The new figures show that there were 5,409 landlord repossessions in this period, a 98% increase on the same quarter last year and a similar level to…
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Digital business banking platform, Tide has announced it will acquire Funding Options, subject to FCA approval. Founded in 2011, Funding Options is a leader in SME credit intermediation and has been recognised as a fast-growth scale-up, and has featured in the FT1000, the Financial Times’s annual list of Europe’s fastest-growing companies. The acquisition will give…
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The Payment Systems Regulator (PSR) has published its latest consultation on guidance to support payment service providers (PSPs – like banks and building societies) with providing correct data when they report their Authorised Push Payment (APP) scams data to the regulator. The PSR wants to see better protections for everyone from APP scams and last…
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Ofcom has announced that is investigating mobile phone and broadband operators over mid-contract prices. The review will examine whether inflation-linked, mid-contract price rises give phone and broadband customers sufficient certainty and clarity about what they can expect to pay. The telecoms and broadband regulator says it is concerned about the degree of uncertainty consumers face…
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UK Finance, the trade body representing the banking and finance sector has announced two new senior appointments effective from 1st May 2023: Ben Donaldson has been appointed Managing Director of Economic Crime and David Raw will be appointed as the Managing Director of Commercial Finance. Donaldson joins UK Finance from the Ministry of Defence, where…
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Bibby Financial Services’s (BFS) asset finance division, Bibby Leasing, has announced a series of new hires and a refocused growth strategy to increase lending throughout the UK. Sean Taylor joins as Head of National Broker Sales from Renaissance Asset Finance where he was Senior Corporate Sales Executive. With over 16 years’ experience in asset finance, Sean…
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