17th February 2023 - Credit Connect

Zopa acquires BNPL firm DivideBuy

17th February 2023 Alternative Consumer Lending | #merger #Zopa and Dividebuy

Zopa has announced that it is set to acquire buy now pay later (BNPL) specialist DivideBuy. Dividebuy provides point-of-sale (POS) finance technology and lending platforms. The transaction, which will complete in the next few months, marks Zopa’s first acquisition and follows just weeks after the digital lender raised a £75 million to fund acquisitions. DivideBuy…

One in three small businesses will struggle when the energy price cap ends

17th February 2023 Business Utilities | #energy support

Analysis from credit score company Experian has found a third of small businesses might not be able to cover their costs when energy bill support is slashed by the Government in April. Experian analysed the finances of 1.16 million small businesses and forecasts that 30% of these will become ‘at heightened risk’ – meaning they…

One in five people move back into family home due to cost-of-living crisis

17th February 2023 Consumer Collections |

Research from Capital One has found that one in five young adults are returning to live with their parents due to the cost-of-living crisis, leading to an average expected increase of £272 per month in energy and food bills for parents. The research showed that one in five (17%) have moved or are planning to…

Lloyds Bank appoints Head of Invoice and Asset Finance Sales

17th February 2023 Appointments |

Lloyds Bank Business & Commercial Banking has announced that it has appointed Tim Biddle as Head of Invoice Finance and Asset Finance Field Sales. Biddle will be responsible for helping to shape the execution of Lloyds Bank’s Invoice Finance & Asset Finance sales strategy, and will lead its UK-wide team. He joins from Paragon Bank, where…

Credit card spending continues to rise

17th February 2023 Arrears and Recoveries | #credit card spending

Latest data from UK Finance found that credit card balances grew in November 2022. The data found that there were there was 355.1 million credit card transactions in November, 0.3 per cent more than in November 2021. The total spend of £19.6 billion was 5.3 per cent higher than November 2021. Outstanding balances on credit…

Seven in ten landlords plan to increase rent when remortgaging

17th February 2023 Consumer Lending | #rent increases

Almost seven in ten (68%) landlords plan to raise rents if their mortgage rate goes up when they come to remortgage, new data from Landbay has revealed. The research found that 44% of landlords said they expect to increase rent by 6-10% if their mortgage rate increases. Of those who intend to raise rents, 70%…

Cost of fraud returns to pre-pandemic levels

17th February 2023 Consumer Lending | #fraud

The total value of alleged fraud cases £100,000 or above heard in UK courts increased by 151% from £444.7m in 2021 to £1.12bn in 2022, according to data released in KPMG UK’s latest Fraud Barometer. The figure for 2022 is similar to pre-pandemic values which saw a total value of £1.1bn for alleged fraud cases…

Half of Scottish people are struggling to keep up with essential bills

17th February 2023 Arrears and Recoveries | #bills arrears

Research by StepChange Debt Charity, has revealed that 43% of the UK population, including 48% of Scottish adults, more than 2 million people have found it difficult to keep up with household bills and credit commitments in the last few months. One in ten (10%) say they have found it very difficult. With the rising…

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