The Financial Conduct Authority (FCA) has today published its final report of its market study into the pricing of home and motor insurance. The FCA says that anyone renewing their home or motor insurance should pay no more than they would as a new customer, under a proposed shake-up of the sector. The FCA is…

The Financial Conduct Authority (FCA) has announced that Chris Woolard will chair a review of the future regulation of the unsecured credit market, reporting to the FCA Board. The review will concentrate on how regulation can better support a healthy unsecured lending market. It will take into account the impact of the coronavirus on employment…

The Financial Conduct Authority (FCA) has announced proposals to ensure that firms provide tailored support for users of consumer credit and overdraft products who continue to face payment difficulties due to coronavirus (Covid-19). The proposals will cover users of credit cards and other revolving credit (store card and catalogue credit), personal loans, overdrafts, motor finance,…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in July 2020 by 9% compared with the same month in 2019, and decreased by 23% in the first seven months of 2020. Retail store and online credit new business grew by 1% in July compared with the…

New figures released by the Finance & Leasing Association (FLA) show that new business in the consumer car finance market grew 19% by value and 9% by volume in July 2020 compared with the same month in 2019.  In the seven months to July 2020, new business volumes in this market remained 30% lower than…

UK Finance’s Household Finance Review for Quarter 2 has highlighted that lenders have maintained a cautious approach to underwriting in uncertain times with higher-loan to value (LTV) lending is still taking place and contracted less than the wider market. House purchase lending plummeted in Q2 as the housing market was suspended due to lockdown, with…

The economic impact of the coronavirus crisis has been far-reaching with millions of people unable to work due to lockdown restrictions.  New research shows that nearly a third (31%) of UK adults have seen their income cut as a direct result of the crisis. The research, commissioned by GoCompare Money, reveals that 8% of people are…

Strong car finance application figures and a surge in people searching for deals online have given motor traders a boost as the new ‘70’ plate launches, according to latest figures from Experian. Car finance applications rose to 597,000 between 1st July to  24th August, a 24% increase on the 481,000 recorded in the same period…

Credit card pre-approval rates have doubled in the last month, according to new insights from Experian’s Credit Barometer. Half (50%) of consumers searching for a new credit card through Experian’s price comparison service will now be shown a card they are pre-approved for, meaning their application should be successful. Economic uncertainty during the COVID-19 pandemic…

Loans Warehouse has announced that it has gained full authorisation from the Financial Conduct Authority (FCA) for Regulated Bridging activity. The approval will enable the company to operate in the regulated bridging market and to further increase its product range and reinforce its reputation as one of the country’s innovative brokerages.   Matt Tristram, Co-Founder of…

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