New figures released today by the Finance & Leasing Association (FLA) show that FLA members provided £11.1 billion of new business in January 2020, 2% higher than in the same month in 2019. Growth was driven by the consumer finance sector which reported new business up by 4% compared with January 2019.  It was a…

Further to the Chancellor’s announcement regarding the mortgage industry’s support for homeowners who are experiencing financial issues due to COVID-19, lenders representing banks, building societies and other specialist lenders have come together to announce additional support for homeowners and residential landlords. In a joint announcement UK Finance and the Building Society Association (BSA) said that…

Non-financial behaviours such as social media use and transactional behaviour may be used in future credit risk assessment with implications for access to consumer finance, according to a report released by Registry Trust. The ‘Futures of Credit Risk Assessment in the UK’ report written by Senior Lecturer Joe Deville of Lancaster University and published by…

Freedom Finance and Optimum Credit agree on a new identity partnership with Nivo meaning that customers applying for a second charge mortgage can now use Nivo’s secure communications platform to Nivo ID Passport their personal details and biometric identity profile from broker to lender, cutting out days of effort and speeding up approvals. Freedom Finance…

Two financial services experts with more than three decades of combined industry experience have joined Together as it expands its intermediary relationship team. Phil Quinn started his new position as Head of National Accounts with the specialist lender this month as it continues to grow its share of the UK mortgage market. He will be…

Finance specialists TotallyMoney have revealed figures that show many are being handed a credit card offer very different to the one they applied for.  Although it’s not unusual for lenders to assess a borrower’s creditworthiness when they apply for credit, the latest research from TotallyMoney and MoneyComms reveals that many customers end up with a very different product to…

Digital mortgage broker, Trussle has announced that it has appointed Ian Larkin as its Chief Executive Officer (CEO). Larkin has held senior roles at Lloyds, Virgin Money, McKinsey and Accenture, most recently served as CEO of Target Group. During his five years at Target Group, the business delivered significant growth using technology to improve productivity, risk…

Here is an overview of The Money Charity’s latest statistics for Febrruary 2020 Personal debt in the UK People in the UK owed £1,675 billion at the end of December 2019. The average total debt per household, including mortgages, was £60,213 and per adult was £31,766, around 112% of average earnings. Net mortgage lending rose…

The results of TotallyMoney’s Financial Awareness Survey has revealed that myths surrounding interest payments, credit limits and how often you need to use your card are clouding the judgement of UK consumers. One statistic shows that over half of UK adults (54%) didn’t know that paying off an outstanding balance in full each month may…

The Financial Conduct Authority (FCA) has published its annual Sector Views, an assessment of the risks and potential harm to consumers across financial services markets. The Sector Views look at the impact of macroeconomic developments and common drivers of change emerging across financial markets. They also outline areas where there may be a negative impact…

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