28th November 2025 - Credit Connect

Finance company shut down after investigators uncover fraud concerns

28th November 2025 Business Lending | #fraud

A company claiming to provide financial services, which received around £175,000 from a client but failed to deliver promised services, has been shut down. Basic Prime Limited claimed to provide trade finance guarantees and credit enhancement services but was suspected by Insolvency Service investigators of operating an advance fee fraud scheme. The company at no…

Fairer Finance has appoints new board member

28th November 2025 Appointments |

Fairer Finance has announced that it has appointed Charles Randell CBE to its independent Consumer Advisory Board, strengthening its external challenge and oversight of the consumer group. Randell is the former chair of the Financial Conduct Authority and the Payment Systems Regulator and has previously served as a member of the Bank of England’s Prudential…

Building society sector continues to grow

28th November 2025 Consumer Lending | #building societies

Latest figures from the Building Societies Association (BSA) has shown that in the six months to September 2025, building societies and the two mutual-owned banks increased their mortgage balances by £7.5 billion, to £493 billion and grew cash savings balances by £8.8 billion, to £496 billion. Building societies and mutual-owned banks hold 29% of the…

Later life mortgage lending rises by 18.4%

28th November 2025 Consumer Lending | #later life lending

New data from UK Finance has found that later life loans rose 18.4 per cent with 39,950 loans taken out in Quarter 3 (Q3). The value of lending was £6.5 billion, which was up 24.7 per cent compared with the same quarter a year previously. There were 6,040 new lifetime mortgages advanced in Q3, up…

GB Bank announces three promotions

28th November 2025 Appointments |

GB Bank has announced the promotion of three team members as part of the bank’s ongoing commitment to intermediary relationships and growing lending ambitions. Chris Chapman has been promoted to Head of Lending Operations, where he will oversee the full lending and operations teams. Jude Miranda has stepped into the role of Customer Onboarding &…

Four in five business leaders react negatively to Budget

28th November 2025 Commercial Credit Management | #budget reaction

A snap poll of over 500 business leaders following the Chancellor’s Budget Statement by the Institute of Director has found that 80% feel negative about the Autumn Budget. A similar snap poll of business leaders following the 2024 Autumn Budget found that 67% felt negative. In terms of the individual policies announced by the Chancellor, those viewed…

FOS launches consultation to increase levy

28th November 2025 Consumer Lending | #financial complaints

The Financial Ombudsman Service (FOS) plans to increase its levy on financial firms by an extra £16 million. The proposals are to increase the current levy of £70 million to £86 million by 2026/27. The FOS is also consulting on raising its case fee from £650 to £680, in line with inflation. The ombudsman also…

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