10th August 2023 - Credit Connect

High mortgages rates drive sharp downturn in demand

10th August 2023 Consumer Lending | #featured #mortgages #rent

A survey of agents and surveyors suggests that high mortgage rates have hit property sales, with a net 44% saying they saw a decline in sales agreed in July. The Royal Institution of Chartered Surveyors (RICS) poll saw a net 45% of estate agents and surveyors say inquiries from new buyers fell last month, with…

FLA appoints new board member

10th August 2023 Appointments |

The Finance & Leasing Association (FLA) has announced it has appointed Nick Williams, Managing Director of the Transport business at Lloyds Banking Group, to the FLA Board. Stephen Haddrill, Director General of the FLA, said “I am delighted to have Nick join our Board. His expertise and insights will be much valued, particularly on the…

Almost half of advisers say clients have withdrawn funds to cover financial shortfall

10th August 2023 Arrears and Recoveries |

As the UK’s economic outlook remains uncertain and the cost of living crisis persists, financial advisers are seeing significant changes in their clients’ behaviour, with many withdrawing funds to plug the shortfall or opting for a more cautious approach to their finances, according to a recent survey by AKG, sponsored by Standard Life. Close to half…

Global tensions spur supply chain adjustments

10th August 2023 Commercial Credit Management | #supply chain

A new report by the Institute of Directors has found that over a fifth of UK importers have had to alter their supply chains due to geopolitical tensions, with China being a major focus. The report states that 20.5% of importers have already made changes, while 15% are considering doing so. The majority of firms,…

More than half of emerging finance firms lacking business verification checks

10th August 2023 Consumer Lending | #business verification

More than half of firms in emerging finance sectors do not always check who is running the businesses they take on as new clients, new SmartSearch data has revealed. Almost one-in-three respondents (28%) said they often carry out verification checks, 21 percent of firms only did so sometimes, while nine percent say they rarely identify…

TransUnion appoints HR Officer

10th August 2023 Appointments |

TransUnion has announced it has appointed Kaushik Gopalan as its new Chief Human Resources (HR) Officer in the UK. Gopalan will lead TransUnion’s HR strategy and colleague initiatives for the UK and Europe, with responsibilities spanning talent acquisition, learning and development, colleague engagement and people operations. Gopalan brings more than two decades of HR experience…

Six water firms face law suits from overcharging

10th August 2023 Consumer Collections |

Millions of households across the country could be in line for compensation under class action lawsuits being filed against six water companies. Claims are being made against six water companies on behalf of 20 million customers for alleged under-reporting of pollution incidents. If successful, water companies face paying out as much as £800 million in…

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