The Financial Ombudsman Service (FOS) has released the latest six-monthly complaints data relating to banks, insurers and other financial businesses.  The figures published today show that the ombudsman took on a total of 169,132 new cases in the first half of 2016 – an increase of 3% on the previous period. Of the total cases…

Citizen Advice research has discovered that some payday lenders are still failing to carry out basic checks to make sure borrowers can afford to pay back their loans. Over a quarter of payday loan borrowers (27%) who responded to a survey by Citizens Advice said they were not, or could not remember being asked any questions…

Motormile Finance (MMF) has achieved full authorisation by the Financial Conduct Authority (FCA).  Denise Crossley Chief Executive Officer of Motormile Finance UK, said: “I am very proud to be able to announce that we have been authorised by the FCA. We have worked extremely hard to get to this point and all credit has to…

LeadAffinity.com has launched a new strategic partnership with Cashfloat.co.uk, a trading style of Western Circle Ltd (WCL). The partnership agreement has a mutual aim of ensuring its customers have access to Cashfloat.co.uk as a lender and any customers that are not eligible for a Cashfloat.co.uk loan have access to the lending panel of LeadAffinity.com Lead Affinity, a trading…

A data survey by the Association of Short Lenders (ASTL) has found that Bridging Loan applications have increased by 61% to £3.5 billion in the quarter ended 30 June 2016. The value of loans written increased by 6% quarter-on-quarter, while the total value of members’ loan books increased by 39% over Q1 this year. ASTL members wrote £2.85bn…

Irish Social Protection Minister Leo Varadkar has announced a new scheme to allow credit unions provide small affordable loans. A pilot scheme in 30 credit unions saw 1,300 people accessing the loans, the average amount of which was under €500. A further 50 credit unions have already expressed interest in joining the scheme Up to 400,000 people are estimated…

A report by charity Stepchange has found that  bailiffs, government departments and bailiffs are among the most unfair when dealing with people in problem debt. The report titled Creditor and debt collector conduct: What’s making debt problems worse? also found that some creditors are failing to take vulnerabilities such as depression and other ongoing mental health conditions into…