Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has announced that it is likely to make several changes to the proposed compensation scheme after receiving more than 1,000 responses to its consultation on the plans. The FCA said that final decisions on the scheme have not yet been made. Given the scale and complexity of the scheme, there…
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The Chancellor, Rachel Reeves, has delivered her Spring Statement outlining the Government’s economic plans. The data showed public sector net borrowing set to fall from 4.3% this year, decreasing to 1.8% in 2029–30. The Office for Budget Responsibility lowers growth forecasts to 1.1% for 2026 but upgrades the outlook in 2027 and 2028 to 1.6%.…
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A director of a construction company has narrowly avoided jail after admitting to exaggerating his company’s turnover to claim £150,000 via three Covid Bounce Back Loans. An Insolvency Service investigation found that Adebanjo Adebayo Talabi was the director of Bebo Construction Limited when he applied for three loans, between August and November 2020, from three…
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First-time buyers who benefitted from the Bank of Mum and Dad are staying closer to home to appease their parents, and in some cases falling out with friends, due to the help they have received, according to the latest Compare the Market research. Nearly two-thirds (62%) of homeowners under the age of 35 who bought…
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