Credit, Collections & Insolvency News
According to the latest study from Aviva, two thirds (67%) of consumers admit to having debt that’s weighing them down. Almost one in ten (9%), or the equivalent of just over 5 million adults in the UK, ‘haven’t got a clue’ how much they owe in outstanding debts and worryingly this figure rises to more…
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The Cambridge Building Society has announced that it has appointed Carly Nutkins as its new Head of Lending. Nutkins started her career as a cashier at Barclays in 2008 before achieving promotion to its personal finance team. She has over 15 years banking experience and joins us from Allica Bank where she worked as its…
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New figures from the Building Societies Association (BSA) has found that mortgage lending by building societies was down nearly a quarter in the first three months of 2023 compared to the same period in 2022, reflecting falling demand in the housing market. The figures showed that gross lending in Quarter 1 (Q1) 2023 was £13.9…
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New research by the Business Debtline has revealed the impact of the cost of living crisis on struggling small business owners, with a majority of callers to the free debt advice survey going without essentials and worrying about meeting their commitments – and a third turning to credit to help cover essential household bills. The…
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Energy suppliers are set to file a record number of winding-up petitions against businesses as companies struggle with soaring energy costs according to new research by Harcus Parker. Court filings show that there have been more than 400 attempts by suppliers to shut down companies to reclaim their energy debts over the past decade. The…
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Ofwat’s latest cost of living research has revealed that not only that many customers are still struggling financially but also that the percentage of customers aware that financial help is available from water companies has hovered around 30% over the last year. This third wave of cost of living research reveals that the percentage of…
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Reduced lending amounts, prompted by interest rate rises, indicate a crisis of mortgage unaffordability for people across the UK. With interest rates continuing to rise and lending figures falling in kind, the signs are of a brewing crisis of mortgages becoming unaffordable, both for existing borrowers and those new to the property market. The Bank…
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Jaja Finance, the digital lender, has signed a partnership deal with Bud Financial, the Open Banking and data intelligence sepcialist, to become its Open Banking partner. As part of the deal Bud will support Jaja with its affordability assessments within the credit card application process. The partnership will open up greater access to credit and…
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Digitalisation of the origination process is about delivering a flexible, agile, scalable, and above all, cost-effective solution. Critically this solution must successfully support the lending business which is ambitious for growth, delivering for a borrower who is hungry for the “Amazon experience” – now and in the future. Some will say “that will cost a…
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Global information and insights company TransUnion is working with personal credit platform Monevo and incuto to offer UK consumers improved access to credit and a broader range of affordable credit products. The joint initiative helps credit unions and community development finance institutions to offer their products to a wider audience via comparison websites, increasing competitiveness in the…
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