Credit, Collections & Insolvency News
Retail sales shrugged off the expected drag from May’s extra bank holiday, rising for the second successive month however the EY ITEM Club is predicting that persistent inflationary pressures and rising mortgage costs mean a sustained retail renaissance is unlikely in the near-term, with sales growth set to remain slow throughout this year. Low unemployment…
Read more
New research shows that eight in ten (79%) middle class parents are helping support their adult children financially, one in four of whom are helping with mortgage payments specifically, according to the fourth Saltus Wealth Index Report. The average rate for a two-year fixed deal has recently surpassed 6% which pushed the average repayment on a 25…
Read more
The Joint Regulatory Oversight Committee (JROC) has published a joint paper setting out five high-level principles for banks and registered third parties to follow when agreeing to a premium Application Programming Interface (API) commercial model. Premium APIs will allow new open banking products and services to be offered. These include variable recurring payments (VRPs), which…
Read more
As the outlook for the UK economy continues to remain uncertain, business owners’ fears over insolvency have dropped considerably according to research by Evelyn Partners. The research finds that just under one in three (32%) UK businesses surveyed acknowledge there is a risk that they will become insolvent in the next 12 months. While a…
Read more
Advisers from Money Wellness, the wellbeing platform specialising in free debt advice and ongoing support, have taken part in a resilience training programme to help support their own mental wellbeing when helping people deal with complex debt problems. The programme, which was delivered by the Samaritans to Money Wellness advisers, is designed to help participants…
Read more
Difficulty accessing capital is forcing nine in ten (91%) of mid-sized businesses to curb growth plans, according to the latest research from accounting and advisory firm BDO. The bi-monthly survey of 500 leaders of medium-sized businesses, which looks at the challenges and opportunities facing UK companies, reveals nearly one in four (24%) are being…
Read more
Specialist lender Cambridge & Counties Bank has appointed Sarah Barker to the new role of Chief Commercial Officer. Reporting to the bank’s CEO, Donald Kerr, she will focus on sustainably growing Cambridge & Counties Bank’s real estate finance, asset finance, deposit, and marketing businesses. Barker was most recently Director of Relationship Banking at The Co-operative…
Read more
Experian has announced the launch of 4D Credit – a new suite of services designed to help lenders better manage their commercial lending portfolio and provide valuable support for small businesses as they look to battle economic uncertainty. For the first time, commercial lenders have access to Experian’s market-leading credit risk data and analytics capabilities…
Read more
According to research from the National Institute of Economic and Social Research (NIESR), by the end of the year 1.2 million households or 4% of all UK households, will run out of savings as a result of higher UK interest rates. NIESR says households will run out of savings because of higher mortgage repayments, taking…
Read more
Independent invoice finance provider, Bibby Financial Services (BFS) has announced that its has acquired Aldermore’s Working Capital Finance division. The move will see the working capital finance companies integrate into BFS operations over the coming weeks. Derek Ryan, UK Managing Director of Bibby Financial Services said “We are delighted to announce the acquisition of Aldermore’s…
Read more
European credit management, Lowell has completed a 24-hour relay to raise money for their charity partners, Turning Lives Around and MyBnk. The relay started at Lowell’s Leeds based office, with over 90 colleagues from across the business completing 30-minute slots to raise money for charity. Colleagues took to a variety of different challenges to complete…
Read more