Credit, Collections & Insolvency News
Latest data from the Trussell Trust has shown that the charity has distributed more than 3.1 million emergency food parcels to people facing hardship, an increase of 94% over the past five years. This is the most parcels ever distributed by the network in a year and nearly double the number compared to five years…
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New research by Mojo Mortgages has found that 32,000 mortgaged properties at risk of being repossessed. The research also found that there were 96,580 homeowner mortgages in arrears of 2.5% or more of the outstanding balance, representing a 3% increase from the previous quarter. Within this group, 32,470 mortgages were in the most severe bracket,…
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Almost half of renters in the UK (49%) do not have a contents insurance policy, according to new research from Compare the Market. In comparison, only 11% of homeowners don’t have contents cover. The main reason renters don’t have contents insurance is to save money, due to their other living costs (30%). Other reasons include…
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Evolution Funding has exchanged contracts to acquire motor finance broker Creditas Financial Solutions, subject to FCA approval. Founded in 2007 by Andy Shaw and headquartered in Leeds, Creditas employs 60 staff and oversees four Appointed Representatives. Taking an innovative go-to-market approach, Creditas has leveraged commercial advantage and market share by uniquely championing an appointed representative…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in March 2024 by 10% compared with the same month in 2023. In Q1 2024 as a whole, new business was at a similar level to Q1 2023. The business new car…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in March 2024 by 7% compared with the same month in 2023. The corresponding value of new business was 5% lower over the same period. In Q1 2024 as a whole, new business by value and…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 5% in March 2024 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in March 2024 by 4% compared with the same month in 2023. In Q1 2024 as a whole, new business in this market was at a similar level to Q1 2023. The credit card and personal loans sectors…
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Compare the Market has announced several new appointments to its Money team, as the much-loved price comparison website continues to expand its choice for customers. Andy Hancock joined the business in January as Chief Growth Officer to focus on increasing the range of products available to help customers make better financial decisions. Since then, with…
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