Credit, Collections & Insolvency News
Credit Connect hosted its first Spring Credit & Collections Technology Think Tank in York, which saw credit and collections strategies discussed by thirteen professionals from a variety of industry sectors at the Milner Hotel The event Chair, Chris Warburton from ROStrategy said “Thanks to everyone who attended the Credit Connect Think Tank event in York…
Read more
Latest data from the Bank of England has found that net borrowing of mortgage debt by individuals decreased sharply by £13.7 billion to -£0.8 billion in April. This followed an increase in net borrowing by £9.6 billion in March. Net mortgage approvals for house purchases decreased for the fourth consecutive month, with a fall of…
Read more
Latest Bank of England data has shown that net borrowing of consumer credit was £1.6 billion in April, up from £1.1 billion in the previous month. Within this, net borrowing through credit cards increased to £0.8 billion in April, from £0.4 billion in March. Net borrowing through other forms of consumer credit increased slightly to £0.8…
Read more
New data Purbeck Insurance Services has found that 51% of SMEs have supported employees financially during the cost-of-living crisis. With only a third of Britons describing themselves as financially comfortable, according to a recent YouGov poll, SMEs are stepping up to ease the burden on their staff. Despite facing economic headwinds themselves, these businesses remain…
Read more
New data from UK Finance has shown that the average first-time buyer mortgage term is now 31 years. The data also showed that mortgage lending surged in the first quarter of 2025 (Q1), driven by homebuyers seeking to complete purchases before changes to Stamp Duty took effect in April. Mortgage completions rose sharply in the first…
Read more
NatWest Group has announced the appointment of Solange Chamberlain as the CEO of its Retail Bank, effective on 1st July, subject to regulatory approval. Chamberlain will report directly to the Chief Executive Officer, Paul Thwaite, and be a member of the Executive Committee of NatWest Holdings. Chamberlain joined NatWest in 2019 and has held a number…
Read more
Furness Building Society has announced that it has promoted Simon Broadley from Chief Commercial Officer (CCO) to Chief Executive Officer (CEO). Broadley was appointed as CCO in 2022 with a remit to oversee and manage the society’s commercial operations. He has more than 20 years of experience in the financial services sector, predominantly in the…
Read more
New survey data from Landbay has found that nearly half of the Buy To Let (BTL) landlords (44%) plan to raise rent in response to the new Renters’ Rights Bill. Landlords with portfolios of between four and 10 properties are most likely to increase rents (32%), closely followed by those with between 16 and 30…
Read more