Credit, Collections & Insolvency News
The winners of the 2024 Credit & Collection Technology Awards winners have been announced following a live in-person event yesterday (Thursday 7th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovational technological professionals working in credit and collections and the eighth annual event honoured the UK’s technological innovators, celebrating…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in September 2024 by 3% compared with the same month in 2023. In the first nine months of 2024, new business was 4% higher than in the same period in 2023. New…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in September 2024 by 9% compared with the same month in 2023. In the first nine months of 2024, new business in this market was 1% higher than in the same period in 2023. The credit card and…
Read more
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 27% in September 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…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in September 2024 by 4% compared with the same month in 2023. The corresponding value of new business increased by 8% over the same period. In the first nine months of 2024, new business was 2%…
Read more
Latest data from StepChange has found that two in five (41%) have found it difficult to keep up with bills and credit commitments in the last few months. The debt charity data has also found that, among those with a mortgage seeking debt advice, mortgage arrears have been steadily rising this year. The average arrears…
Read more
Time Finance has announced it has appointed Matt Heap as the new Head of Credit within its Asset Finance Division. Heap joins the leading independent finance provider with over 20 years of experience in the financial services industry. His most recent roles include serving as a Business Manager at Barclays and as a Senior Underwriter…
Read more
Latest mortgage lending data from UK Finance has found that there were 93,630 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in Q3 2024, 3% fewer than in the previous quarter (96,090), but 8% higher than the same quarter in 2023 (87,010). The data also showed that there were 32,860 homeowner mortgages…
Read more
The Bank of England’s Monetary Policy Committee (MPC) has voted to cut the base rate by 0.25% to 4.75%. MPC voted 8-1 to cut rates, with the dissenter preferring to leave cuts unchanged at 5%. Inflation is expected to increase to around 2.5% by the end of the year, from 1.7% in September. Steve Vaid,…
Read more
Bank of England’s Monetary Policy Committee’s has voted to cut the base rate by 0.25% to 4.75%. MPC voted 8-1 to cut rates, with the dissenter preferring to leave cuts unchanged at 5%. Inflation is expected to increase to around 2.5% by the end of the year, from 1.7% in September. Federation of Small Businesses…
Read more
Blend has announced it has hired Graeme Walker as Lending Director. Walker, who has over 30 years of experience in the industry, worked as head of lending within the development finance team at Hampshire Trust Bank before joining Blend. Prior to that, he held roles at Barclays Wealth Management and Heritable Bank. Blend’s Managing Director David…
Read more