Alternative lender Savvy.co.uk is to create 25 jobs after securing a £20 million investment. The funding, from London-based Cairn Capital, will increase lending capacity for the company that provide an ethical alternative to pay-day loans. Jobs created will be mainly in social media and digital marketing as well as software development for the company which…

Consumer Credit Solutions (CCS) is celebrating 20 years supporting the home improvement industry and providing consumer finance to the sector.  The business began in 1999 as a partnership and is still owned and managed by its founders Andy Wallace and Peter Nicholson.  Since then CCS has grown into the UK’s leading independent finance facilitator working…

Home Credit lender, Morses Club has reported a strong financial performance in its latest interim results for the twenty-seven weeks ended 31st August 2019, The figures show Home Collected Credit (HCC) adjusted pre-tax profits were up 20.2% to £13.1m (H1 FY19: £10.9m). Group customer numbers have increased to about 276,000, compared to 230,000 for the first…

Here is an overview of The Money Charity’s latest statistics for September 2019: Personal debt in the UK People in the UK owed £1,647 billion at the end of July 2019. This is up from £1,600 billion at the end of July 2018, an extra £888 per UK adult over the year. The average total…

One of the largest guarantor lenders, UK Credit, has secured over £17.5 million in funding from Paragon. It is the latest deal for Paragon’s Structured Lending team, which has already provided over £130m of funding across a range of specialist lenders spanning consumer finance, point of sale funding, SME lending and property backed finance. Lewis…

The government has announced the launch of a new Credit Union Investment Fund which will support credit unions to increase financial inclusion and help them to grow. Following the launch, more people will have greater access to affordable credit and savings plans through the new £10 million fund. The Fund, which will open next spring,…

Pawnbroker group, Albemarle & Bond and Herbert Brown have announced that they have ceased trading. The group announced on its company website that it will transfer all existing accounts to our Pawnbroking Centre Albemarle and Bond and Herbert Brown are both part of SpeedLoan Finance. The group has closed all of its 116 stores. A…

John Truswell has joined Newcastle Building Society as Head of Intermediary Mortgages. Truswell has more than 30 years’ experience in the mortgage intermediary market, having worked at Virgin Money, CHL, and more recently Together, where he was head of national accounts. He will head a team of seven BDM and key account managers at Newcastle…

Credit union network My Community Finance has gone live with an automated decisioning platform (ADP) with LendingMetrics. The adoption of ADP has allowed the London-based network to shift from a hard-coded in-house loan origination system with limited decisioning capabilities, to a fully automated customer origination solution that delivers instant credit decisioning.  Neil Williams, Managing Director…

Home collected credit  (HCC) lender, Morses Club has announced its latest company results. As part of the results, the company has highlighted that it has issued £85.5 million worth of credit in the 27 weeks to 31 August 2019. The trading update said that trading conditions in our the HCC market remain in line with…

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