Supply shortages and mortgage rates see rents hit record high

5th October 2023 Arrears and Recoveries | #mortgage and rents

New research by Rightmove has found that supply shortages and mortgage rate rises have combined to push the cost of private home rents up by 10% over the past 12 months. The average rent for new properties being put on the market now stands at a record £1,278 per calendar month outside London in the…

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Consumers being pushed towards payday loans and BNPL

5th October 2023 Alternative Consumer Lending | #Buy now pay later

The Financial Conduct Authority (FCA) says the cost-of-living crunch is pushing people toward payday loans and buy-now pay-later (BNPL) products. In a speech, the regulator’s Chief Executive, Nikhil Rathi, warned that rising prices have pushed people into debt, with many still unable to access financial products. The regulators  analysis shows that the number of people…

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British Business Bank appoints new Chair

5th October 2023 Appointments |

The Department for Business and Trade has announced the appointment of Stephen Welton as the new Non-Executive Chair of the British Business Bank. Welton takes over from Lord Smith of Kelvin, who has held the position for six years since 2017. In 2013, Welton was appointed as an advisor to the UK Government regarding the…

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