Credit, Collections & Insolvency News
Optimism among UK SMEs has grown for a third consecutive year, according to a poll by American Express. The survey saw found that seven in ten SMEs say they feel confident about the future of their company, up from 67% in 2023 and 65% in 2022. The poll also found that almost three quarters say…
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The FCA has today announced that it has extended the pause to the deadline for motor finance firms to provide a final response to customer complaints regarding discretionary commission arrangements (DCAs) which could impact car finance providers until December 2025. In January 2024, the FCA announced a review into whether motor finance customers have been overcharged…
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The latest asset finance industry index, released by Acquis, has revealed that the value of new equipment finance deals in the UK during the first half of 2024 has seen a 14% decrease on the same period in 2023. The latest instalment of the Index has also revealed that lease inceptions for the first half…
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InDebted, has announced the completion of its £30 million Series C capital raise, valuing the company at almost £200 million. The company uses technology such as machine learning to personalise the collection’s journey, with the support of a dedicated Customer Experience team. Originally founded in Australia, InDebted expanded into the UK in 2022, experiencing 327% YoY…
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Cloud banking platform Mambu and newly launched mortgage lender, Interbridge Mortgages, have announced a strategic partnership helping Interbridge Mortgages launch a second charge product in just nine months and facilitating their entry to the UK mortgage market. Interbridge Mortgages’ launch in early 2024 is set to redefine the second charge mortgage sector in the UK…
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Latest Office for National Statistics (ONS) data has shown that median household disposable income in the UK was £34,500 in 2023, a decrease of 2.5% from 2022, based on estimates from the Office for National Statistics (ONS) Household Finances Survey (HFS). Median household disposable income for the poorest fifth of the population increased by 2.3%…
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