New figures released by the Finance Leasing Association (FLA) have shown that the number of second charge repossessions in 2018 was 147, 8.1% higher than in 2017. In the final quarter of 2018, the number of repossessions was 28, down by 26.3% compared to the same period in 2017. The number of properties repossessed during…

UK Finance has published its Mortgage Arrears and Possessions Update for the fourth quarter of 2018, which saw 4580 homeowner possessions in 2018, the lowest level since 1980 when there were 3480 possessions. During this period, there were 6.2 million outstanding homeowner mortgages, compared to 9 million at the end of December 2018. The data…

Aire and Experian have agreed on a new service which will allow Experian to sell Aire’s credit insight combined with their bureau and decisioning services. Experian and Aire are already working on integrating Aire’s credit insights directly into Experian’s PowerCurve credit decisioning platform for N Brown. This follows an initial proof of concept (POC) with Aire, which…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in December 2018 by 4% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. Credit card and personal loan new business together grew in December by 5% compared with the same…

People claiming Universal Credit are still struggling to pay for the roof over their heads, despite the wait for their first payment being reduced from six weeks to five, according to new Citizens Advice data. One in two people the charity helped were in rent arrears or fell behind on their mortgage payments, the same…

The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year. There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low.…

Probate Searches & Services Ltd (PSaS) has selected TransUnion (formerly Callcredit) to provide account information checks for its new credit report service to help probate professionals settle estates more quickly and accurately. PSaS is a new business servicing the legal sector with consumer data solutions to help better manage estate administration of probate cases and…

The Bank of England has today published its latest monthly Money and Credit report showing consumer credit growth slowed to 6.6 percent in the year to December 2018. Outstanding balances for consumer credit stand at £215.6 billion. The Bank of England says that the credit growth slow down reflects the continuation of relatively weak flows…

Latest figures from the Insolvency Service for Northern Ireland show that there were 73 company insolvencies between October and December. 34 were compulsory liquidations while 26 were creditors’ voluntary liquidations. There were also eight administrations and five company voluntary arrangements. That total of 73 was 19.8 percent lower than the same quarter in 2017 and…

The Insolvency Service has published the latest personal insolvency statistics for England and Wales for Quarter 4 2018 (October to December 2018) which show that that the percentage of IVAs failing within the first year has increased for the fourth consecutive year. The figures also show that 9% of IVAs registered in 2011 and 3%…

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