21st March 2025 - Credit Connect

Interest rates hold at 4.5% – consumer credit industry reaction

21st March 2025 Consumer Lending | #interest rates

The Bank of England has announced that it has held the base rate at 4.5%. The rate-setting Monetary Policy Committee voted in a 8 to 1 split in favour of holding the rate, one member preferred to reduce the bank rate by 0.25 percentage points, to 4.25%. The bank rate was cut from 4.75% to…

Two in three fintechs reporting high volumes of fraud

21st March 2025 Consumer Lending | #fintech #fraud

More than two in three UK fintech companies (68%) are reporting higher fraud volumes compared with one year ago, according to new data published by Alloy. The research showed that 79% of UK fintechs say they lost at least £500,000 to fraud in the 12 months to October 2024. Two in five (38%) fintechs reported…

Interest rates remain at 4.5% – business industry reaction

21st March 2025 Commercial Credit Management | #interest rates

The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.5%. Commenting on the latest update from the Bank of England, Neil Rudge, Chief Banking Officer for Commercial at Shawbrook, said “The Bank of England has chosen to keep the base rate frozen in the final decision of the tax…

Asset finance grows by 2%

21st March 2025 Asset Finance | #asset finance

Latest figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in January 2025 by 2% compared with the same month in 2024. In the twelve months to January 2025, new business was 3% higher than in the same period in 2024. The…

Second charge mortgages grew by 24% in January

21st March 2025 Consumer Collections | #second charge mortgages

New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 24% in January. 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…

Consumer car finance falls by 3%

21st March 2025 Consumer Lending | #car finance

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in January 2025 by 3% compared with the same month in 2024. The corresponding value of new business grew by 4% over the same period. In the twelve months to January 2025, new business was 2%…

Consumer finance grew by 2% in January

21st March 2025 Consumer Lending | #consumer credit

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in January 2025 by 2% compared with the same month in 2024. In the twelve months to January 2025, new business in this market was also 2% higher than in the same period in 2024. The credit card…

Director banned after failing to provide company accounts to liquidator

21st March 2025 Commercial Credit Management | #director banned

A company director has been disqualified after failing to provide accounting records when her company went into liquidation owing an estimated £319,000 in corporation tax. Jenna Lennon was the sole director of Hope & Pride Limited, which was incorporated in March 2019 and described its business on Companies House as “other information service activities not…

Create your Account:

1. Please fill in the boxes below with your email, tick the relevant newsletters you would like to subscribe to and click the Sign Up button.

2. Wait for the double opt-in page to open and confirm your email address.

3. You have subscribed and have agreed to receive the newsletters.

Credit Connect Media is committed to reserving your right to privacy. By using our website and services you consent to our collection and use of your information as described in or privacy policy.

Credit Connect Media has set up a network of business partners whose products and services may be interesting and useful to you. They may contact you from time to time. By subscribing you confirm that you agree to our Terms & Conditions statement.

Login