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…

Cash points are closing at a rate of 16 per day, the fastest ever recorded, according to consumer group Which? showing that cash machines disappeared at a rate of 488 per month between June and December last year. Over the six months, 2,962 cash points were taken out of service, representing a 4.6% decline in…

Seven in ten businesses struggle to unlock data’s true potential because of a lack of control, leaving many businesses with untrusted data that undermines business innovation and customer interactions, new research from Experian has revealed. Experian’s Global Data Management report, which surveyed 1,000 data practitioners from organisations around the world, found that although three-quarters (75%)…

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…

New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 1% by volume and 4% by value in December 2018, compared with the same month in 2017. The POS consumer new car finance market reported new business volumes in December…

New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market reports volumes up by 13% in December. Commenting on the December 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “December…

The Irish Central Bank has published the penultimate update on the Tracker Mortgage Examination, showing that, at end-2018, lenders had paid out €647 million to customers affected by their failings. This is an increase of €67 million since end-August. The update also showed that an additional 1,400 affected customers have been included by lenders for…

The Financial Conduct Authority (FCA) has today set out how it would use the temporary transitional power in the event the UK leaves the EU without a withdrawal agreement. The Treasury has put forward draft legislation that would make transitional provisions if the UK leaves the EU without a withdrawal agreement. This is intended to minimise the disruption for…

Reservations about data security pose the biggest challenge when it comes to increasing consumer adoption of Open Banking, according to a new white paper from credit reference agency and information solutions provider, TransUnion (formerly Callcredit). Based on research with both consumers and financial sector decision-makers across the UK, the study found that consumers cite the…

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