The amount of people searching for a mortgage who meet the qualifying criteria for every deal on the market is as low as 3.5%, according to new analysis from Experian. One in five (22%) of those using pre-qualification websites to find a mortgage meet the initial qualifying criteria for every lender on the market. But…

New figures from UK Finance show that consumers spent almost £16.9 billion on credit cards in May, a year-on-year increase of 2.3%. The annual growth rate of outstanding balances on credit cards stood at 4.1 per cent in May 2019, continuing the downward trend from its recent peak of 8.3 per cent at the start…

New research from KPMG has found that 30% of the UK public have changed their spending as a result of Brexit uncertainties. A fifth (22%) have avoided making big ticket purchases with almost one in ten (9%) missing out on overseas holidays and 6% avoiding investing in the economy via stocks & shares. Meanwhile, 8%…

The number of residential and buy-to-let mortgages taken out in June 2019 has fallen as has pound-for-pound remortgaging, according to UK Finance. The mortgage trends update also showed that there was a ten per cent drop in overall remortgaging activity in June 2019, compared to the previous year. This has been driven largely by a…

TransUnion has appointed Sam Welch to its UK executive team, as he joins the business as part of its global strategy and planning function. Taking up his role as strategy and planning director for TransUnion in the UK, Welch will be responsible for driving its growth agenda, aligned to client needs and market trends. Welch…

The Competition and Markets Authority (CMA) has ordered Nationwide to refund £6 million to current account customers after it broke rules which state that people should receive a text alert before banks charge them for unarranged overdrafts. The CMA has told Nationwide to take immediate action and improve its practices and compliance with the instruction. The…

Up to half of older homeowners are using equity release to repay debt as they struggle to meet payments, new analysis from independent equity release adviser Key shows. Analysis of customer data suggests that 30% of people are using equity release to repay unsecured debt while 20% are using it to repay mortgages.  Debt is a…

The Bank of England has published its annual Credit Union statistical report based on annual return data for the credit union financial year. The report showed that total Credit Union members has surpassed 2 million in the UK for the first time, driven by a rise in Adult members in 2018 (3%). Whilst Loans to…

Nottingham Building Society has announced a partnership with GDS Link, to enhance its decision-making capabilities and credit assessment process for its mortgage business. The partnership is part of the Society’s ongoing investment strategy to develop its digital capability to match changing customer expectations. This strategy has also seen the Society deliver new online savings brand…

The finalists for the third annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect and hosted at the Credit Services Association’s UK Credit and Collections Conference, brings together credit and collections technology executives to honour the industry’s…

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