18th March 2025 - Credit Connect

65% businesses confident they can overcome Budget challenges

18th March 2025 Commercial Credit Management | #business challenges

New data from Atradius has revealed that 65% of UK businesses are confident in their ability to overcome Budget-related challenges and continue growing. This optimism is supported by a decline in claims across two-thirds of sectors compared to February 2024, signalling a positive start to the new financial year. Sectors experiencing the most significant drop…

Close Brothers appoints Commercial Director

18th March 2025 Appointments |

Close Brothers Premium Finance (CBPF) has announced announced the appointment of a new Commercial Director Colin Wallace move from his role of Sales Director Personal Lines, to take up the newly created role of Commercial Director. In his new position, Wallace will lead the businesses’ commercial activities, oversee the ongoing development of product, brand, and…

Car purchase the top reason for large personal loans

18th March 2025 Consumer Collections | #car finance

The biggest loans taken out by UK adults are for car payments according to new research by GoCompare. Analysing data on loans secured since September 2022, the study found that motorists took out an average loan of more than £10,700 to put towards their new vehicles. This highlights that buying a car remains one of…

Insurers APR rates rival credit cards

18th March 2025 Consumer Lending | #insurance

New research by Which? has found that car and home insurers are charging annual percentage rates (APRs) equivalent to credit card lenders for customers who pay for cover monthly payments. The research found that the average annual percentage rate (APR) for car insurers charging monthly is 22.84%, while home insurers average 21.59%. The consumer group…

Treasury launches review of Financial Ombudsman Service

18th March 2025 Consumer Lending |

The Treasury has announced that it has launched a review of the Financial Ombudsman Service (FOS) to address concerns that it has been acting as a ‘quasi-regulator.’ The announcement is part of wide-ranging plans by the Government to cut between 100 and 130 regulatory bodies currently in the UK. It aims to streamline dispute resolution…

UK Finance publishes plan for growth

18th March 2025 Consumer Lending |

UK Finance has published its plan for growth, which was submitted to the Government in early March. The plan brings together views from across our membership and sets out reforms needed to help the financial services sector make an even stronger contribution to the Government’s growth agenda, while also delivering benefits for consumers, businesses and…

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