9th March 2023 - Credit Connect

FCA announces help for struggling mortgage borrowers

9th March 2023 Arrears and Recoveries | #FCA #mortgage borrowers #regulation

The Financial Conduct Authority (FCA) has confirmed final mortgage guidance, setting out the ways mortgage lenders can help customers worried about or already struggling with their mortgage payments because of the rising cost of living. The regulator has also published new data and analysis on the mortgage market. This shows that, in addition to the…

Experian launches credit file building service

9th March 2023 Consumer Lending | #credit building

Experian has announced plans to pilot a new service that could help millions of financially excluded people get better access to mainstream financial services. The new initiative aims to help people with little or no credit history, the so called ‘credit invisibles’ to build out their credit files in as little as three months, for…

One in ten mortgage holders decrease overpayments

9th March 2023 Consumer Lending | #mortgage overpayments

One in ten (10%) mortgage holders have decreased overpayments amid the cost of living crisis according to Comparethemarket. As households try to adapt to higher mortgage rates and the increased cost of living, one in two (51%) homeowners who regularly overpay on their mortgage are concerned about their ability to continue doing so over the…

Mortgage repayments for first-time buyers surge by two thirds

9th March 2023 Consumer Lending | #house costs

Soaring interest rates and a rise in house prices drove up the cost of a typical first-time buyer’s mortgage repayments by almost two thirds last year, according to the Office for National Statistics (ONS). In the 12 months to December 2022, the typical monthly bill rose by £481 to £1,262, an increase of 61%. The…

Private pensions gap between men and women will persist for decades

9th March 2023 Consumer Lending | #pensions gap

New IFS research, funded by the Nuffield Foundation has found that the pensions gap between men and women in private pension income will persist for decades. However, among those born in the early 1950s, the difference between men’s and women’s average state pension incomes has closed to essentially zero. This is in contrast to those…

PayPlan becomes first debt advice provider to introduce video interpreting service

9th March 2023 Company News |

Free debt advice provider PayPlan has teamed up with British Sign Language (BSL) Video Interpreting Service, SignVideo, to improve accessibility to customers across the UK, becoming the first UK debt advice company to provide access to this service. SignVideo is the market leader in delivering live and on-site BSL video interpreting and is already a…

Perch Group awarded ISO9001 and ISO27001 certification

9th March 2023 Company News |

Perch Group has announced that it has been awarded ISO9001 and ISO27001 certifications for the provision of debt purchase and debt recovery, including legal services. The certification provides an internationally recognised benchmark of best practice management standards and demonstrates Perch Group’s commitment to continual improvement with measures in place to assist regulatory and legislative compliance…

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