Credit, Collections & Insolvency News
The time it takes to save for a mortgage deposit in England has hit 10 years, having significantly increased over the past decade according to new research by Generation Rent. In 2012 it would, on average, take 6.8 years to save for a deposit for a mortgage. Higher rents and house prices mean – it…
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Nearly nine out of ten brokers (86%) are confident about their awareness of Consumer Duty just weeks ahead of its implementation, according to new research from Hodge. Two thirds (61%) of brokers do want to have more information about CD from financial providers to help them with the imminent changes, however. The specialist lender quizzed…
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Sector regulator Ofgem says a number of energy companies do not meet its financial resilience standards. While it did not specify which companies were falling short of its standards, it warned that around a third of the market is below the target. The energy regulator has written to energy companies warning them that an expected…
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The Financial Conduct Authority (FCA) will target home and car insurers that have failed to improve their treatment of struggling customers, saying that firms are taking a long time to deal with complaints and that customers have not been given appropriate settlements. Following an increase in complaints about insurance claims, the FCA uncovered examples of…
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New research by Hargreaves Lansdown has found that one in four spending more than they have earnt creating a risk of running up debts. The study also found that higher-income households are borrowing more as a percentage of their income – and have a bigger share of their borrowing on variable rates and are more…
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Two in five (40%) small and medium sized enterprises (SMEs) have had to stop or pause an area of their business because of a lack of finance over the last couple of years – a significant increase from 27% of SMEs recorded in last year according to new research commissioned by Manx Financial Group. The…
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Debbie Crosbie, Chief Executive Officer, Nationwide Building Society; Christopher Beatty, Chief Operating Officer EMEA, Morgan Stanley; Richard Fearon, Chief Executive Officer, Leeds Building Society; and Vicky Davies, Chief Executive Officer, Danske Bank UK, have joined the Board. Crosbie was appointed as CEO of Nationwide Building Society in June 2022, building on over 25 years of…
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Time Finance has announce dit has appointed Ollie Cole into the role of Broker Manager to strengthen the firm’s hard and soft Asset Finance offering across the South West of England. Cole brings with him over a decade of experience in the finance industry, most recently in the position of Business Development Associate at Paragon…
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