Mike Regnier, Chief Executive of the Yorkshire Building Society has been elected as the new Chair of the Building Societies Association (BSA). He takes up this role with immediate effect. Regnier has held the post of Deputy Chair since May 2018 and succeeds Stephen Mitcham, Chief Executive of the Cambridge Building Society. At the same…

UK Finance has published its Q1 2019 figures for mortgage lending in Scotland, Wales, Northern Ireland, and London, which highlight steady growth across the regions. In Northern Ireland both the first-time buyer and remortgaging markets saw major improvements, in line with previous quarters. There were 2,440 new first-time buyer mortgages completed in Northern Ireland in…

Visa’s UK Consumer Spending Index, compiled by IHS Markit, pointed to a further marginal decline in overall household spending at the start of the second quarter. Expenditure fell -0.5% on an annual basis during April, which was slightly quicker than the -0.2% reduction seen in March. Consumer spending has now fallen in each of the…

Financial wellbeing is deteriorating at its fastest pace since September 2017 despite a sustained rise in income from employment according to a new report IHS Markit. The report found that household finances were squeezed to the strongest extent since September 201 whilst workplace activity and incomes from employment continue to rise. The outlook towards future…

Tesco Bank has announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio, including the complete transfer of related balances and ongoing administration of relevant accounts. The Bank, which has offered mortgages since 2012, currently serves over 23,000 customers with total lending balances of £3.7billion. Gerry…

International technology-led services and payments specialist, Equiniti Group, has announced the opening of a new office in Milwaukee, Wisconsin. The investment is expected to bring 180 jobs to Milwaukee’s Parkland Place northwest side. Parkland Place will provide further scale and service capabilities in support of Equiniti’s 670 US clients, extending the existing Centres of Excellence…

The latest UK card stats reveal that the growth in credit card spending is down to 4.9% in February. In February 2018 the corresponding figure was 8.3%. However, the use of credit cards continues to increase as a payment method in the UK. There were 246 million transactions on cardholders’ credit cards in February 2019,…

The Financial Ombudsman Service (FOS) has released its latest complaints data which shows that complaints against high-cost short term loan providers (payday lending) rose by 130% in March. High-cost short term lending complaints accounted for 39,715 of the new disputes. FOS said the surge of complaints in the sector contributed to a 14% rise in…

New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2019 was 24, 47.8% lower than in the first quarter of 2018. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.08% in the twelve months to March 2019.…

Three in ten (28%) consumers ran a ‘deficit budget’ in the past month, spending more during the month than they received in income, according to new research from R3, the insolvency trade body, and ComRes. One in six consumers (17%) spent up to £100 more than they received in income over the past month; 7%…

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