20th April 2023 - Credit Connect

Third of homeowners struggling with mortgage cost increases

20th April 2023 Arrears and Recoveries | #mortgage costs

Nearly a third of homeowners (30%) are struggling to cover the increased cost of borrowing having seen the monthly cost of their mortgage increase by hundreds of pounds a month following interest rate rises, according to new research by Barrows and Forrester. The survey of 2,304 current homeowners with a mortgage found that 57% have…

SME fintech raises £7m to provide small businesses with instant access to finance

20th April 2023 Alternative Business Lending | #SME fintech

SME fintech, Triver has announced it has raised £7 million equity from investors with an aim to revolutionise how small businesses can access finance. Leveraging Open Banking data and sophisticated AI, Triver funds SMEs’ short-term working capital needs, underwriting the risk of small business borrowing instantly and automatically. Faster and more easily than high street…

Credit card customers showing signs of financial stress

20th April 2023 Consumer Lending | #credit cards

New analysis of UK credit card activity from FICO has revealed worrying payment patterns amongst customers who have held their cards for between one and five years, known as the established vintage. This group is showing increased rates of missed payments and other signs of financial stress. The research found that established vintage of credit…

Inflation eases but remains above 10% – credit industry reaction

20th April 2023 Consumer Collections | #inflation

The consumer prices index (CPI) measure of inflation fell to 10.1% in the year to March from 10.4% in February, according to the Office for National Statistics (ONS). The static inflation was driven by food prices rising at their fastest rate for 45 years. Commenting on inflation figures for March, ONS Chief Economist Grant Fitzner…

Stubborn inflation rate stays above 10% – business industry reaction

20th April 2023 Commercial Credit Management | #inflation

The latest UK inflation data has shown that the rate has fallen less than expected and remains in double digits at 10.1 per cent in March, from 10.4% in February, according to the Office for National Statistics (ONS). The stubborn rate has been driven by food prices rising at their fastest rate for 45 years.…

TransUnion appoints Strategy and Planning Director

20th April 2023 Appointments |

TransUnion has announced that it has appointed Mark Molyneux as its new Strategy and Planning Director for the UK and Europe. As part of the UK executive team, Molyneux will be responsible for identifying and developing new growth opportunities that align to TransUnion’s strategy, both in the UK and globally. Having joined TransUnion in 2019,…

Mortgage lending transactions hits three year low

20th April 2023 Consumer Lending | #mortgage lending

Latest market analysis by Octane Capital has found that since the Bank of England began to increase interest rates in December 2021, the total number of mortgage lending transactions has declined by 7.1% when compared to the same time period prior. The figure of 95,405 total mortgage lending transactions seen in February of this year…

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