Credit, Collections & Insolvency News
Latest figures released by the Office for National Statistics (ONS) have shown that GDP rose by 0.2% in January following a fall in output during the previous month.. The UK’s economy grew in January, boosted by stronger sales in shops and online and more construction activity. January’s growth figure raises expectations of the economy expanding…
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Latest Bank of England figures show that the proportion of mortgages in arrears increased to its highest level since 2016 in the last three months of 2023. The share of outstanding mortgage balances in arrears rose to 1.23% in Q4 2023 from 1.12% in Q3. The value of these balances in arrears stood at £20.3…
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14% of retirees aged over 55 have gone back into work as their living costs have increased and their pension is not sufficient to fund retirement according to new research from Standard Life. A further 4% are also considering returning to work. Men are more likely to have unretired, with 16% saying they have done…
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Starling Bank has announced the appointment of Raman Bhatia as Group Chief Executive Officer (CEO). Bhatia will take over from John Mountain, who has been acting as interim CEO since founder Anne Boden announced she was stepping back from the role last year. Bhatia is currently the Chief Executive of OVO, a leading technology-enabled energy…
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Hodge has announced that it has appointed Rob Ford as its Head of Mortgage Origination. Ford has extensive experience in underwriting, having held senior leadership positions overseeing lending operations at organisations including Bank of Ireland and Principality Building Society. Ford will develop the Underwriting department at Hodge, ensuring it consistently makes responsible, efficient and flexible…
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Digital lender, Jaja Finance has become the first credit card provider to secure Plain Numbers’ certification for its customer application journey. The accreditation means that Jaja has made notable changes to its customer application process to meet Plain Numbers’ high standards, ensuring their customers’ financial health and wellbeing. As the first credit card provider to…
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A third of adults have less than £500 saved for emergencies, leaving them heavily exposed to income shocks, according to a nationally representative survey of 8,000 UK adults from Lowell. Nearly half (46%) of UK adults saw their financial situation worsen in 2023 and nearly 70% do not expect their financial situation to improve in…
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