Credit, Collections & Insolvency News
New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in December 2022 by 16% compared with the same month in 2021. In 2022 as a whole, new business was 6% higher than in 2021. The plant and machinery finance and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business by value and volume fell in December 2022 by 6% compared with the same month in 2021. In 2022 as a whole, new business grew 9% by value and 3% by volume compared with 2021. The consumer new…
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Second charge mortgage new business volumes fell by 3% in December 2022 according to latest Finance & Leasing Association (FLA) data. 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 “In December, the…
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Consumer finance new business grew by 13% through 2022 compared to the previous year according to the latest Finance & Leasing Association (FLA) data. The credit card and personal loan sectors together reported new business up by 17% in 2022 compared to 2021, despite credit card rates reaching their highest level since 1998 and continued…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 4% in December 2022 compared with the same month in 2021. In 2022 as a whole, new business was 13% higher than in 2021. The credit card and personal loan sectors together reported a fall in new…
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New data from Mazars, the international audit, tax, and advisory firm, shows that the HMRC tried to shut down 440 companies in the last quarter over unpaid tax debts, a 46% increase from the 301 that it tried to close the previous quarter. Michael Pallott, Partner at Mazars says that the number of winding-up petitions can…
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A third of buy-to-let landlords expect to sell property this year, according to the National Residential Landlords Association (NRLA). The research found that almost a third of private landlords with a buy-to-let mortgage face the prospect of significantly higher costs this year. The data also found that 63 per cent of landlords have a buy-to-let…
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For the first time in six months, all 14 sectors monitored by the Lloyds Bank UK Sector Tracker reported that they expected their output to grow over the next year, up from 13 in December. According to the Tracker, improved optimism was driven by expectations of weaker inflation over the next 12 months. The number…
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The Financial Ombudsman Service (FOS) saw a 17% year-on-year increase in the number of complaints it received in Quarter 4 (Q4). FOS recorded 41,303 complaints between October and December, up from 35,342 during the same period in 2021. On a quarterly basis, there were 2,833 more complaints in Q4 than in the July to September…
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