New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 34% in February 2021 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…

Borrowers with prime credit ratings accounted for an increased share of second-charge lending in the past six months, according to new tracker data by Evolution Money. The company’s analysis looking at its total lending data for the last six months, up until the end of February 2021, found that the product split by volume of…

A new report from the Institute of Economic Affairs (IEA) has drawn attention to the shortcomings of the Financial Ombudsman Service (FOS). The report has found that the FOS has failed to deliver its key objectives of  ‘providing fair and reasonable resolution of disputes at speed’ and ‘providing value for money and supporting competition and…

Research from global information and insights provider TransUnion has revealed an increase in optimism around household finances in the UK. More than half (54%) of those surveyed now feel optimistic about their current financial situation, up from 42% at the end of 2020. The confident outlook coincides with the successful UK rollout of the Covid-19…

Almost one year on from the UK’s first national lockdown, UK Finance has outlined key statistics on the impact of the banking and finance industry’s support for businesses and customers across the country over the last twelve months. 2.75 million mortgage payment holidays were granted up until the end of 2020, with 1.8 million in…

The Financial Conduct Authority (FCA) has expanded its probe into how Amigo Loans handled mis-selling complaints from customers. The regulator has been looking into how the lender assessed its clients’ creditworthiness since May 2020 and has now announced that it is extending the scope of the investigation to include the company’s complaints handling process. The…

Nearly one in five of  homeowners (19%) have been unable to remortgage their home since the pandemic started and could now face higher monthly mortgage repayments as a result, according to research by comparethemarket.com. The impact of the pandemic on employment and financial stability has meant that many households have become ineligible for competitive fixed-rate…

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