Latest figures from UK Finance have indicated that there was a  slight annual increase in mortgage arrears in Q1 of 2021. However, the figures show that the levels remain close to historically low rates. The number rose by 230 in the first quarter to a total of 77,640 homeowners with mortgage arrears of 2.5% or…

New research from Aviva has revealed that a quarter (25%) of middle-aged (45-54-year-olds) consumers (equivalent to 2.25 million people) say their total debts have increased in the 12 months to April 2021.  This is despite headline figures claiming that consumers have saved more than £180 billion during the Covid-19 pandemic. One in five (18%) of…

Target Group, the FCA-regulated business processing and software provider, has announced that the fintech mortgage lender, Perenna, has become the first client of its Mortgage Hub. The partnership, which is set to launch later this year, will see the Mortgage Hub powering Perenna’s mortgage offering; allowing it to provide decisions-in-principle within 20 seconds.   Perenna will…

New analysis by EY ITEM Club’s Interim Bank Lending Forecast expects consumer credit to grow 10.5% in 2021 and 9.1% in 2022 as consumer spending rebounds post-lockdown. Net lending via credit cards and personal loans turned negative in 2020 and remained in negative territory in the first three months of this year. Annual growth in February…

New figures released by the Finance & Leasing Association (FLA) have shown that consumer finance new business grew in March 2021 by 7% compared with the same month in 2020.  In Q1 2021, new business was 17% lower than in Q1 2020. The retail store and online credit sector reported growth in new business of…

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes remained stable in March 2021. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “In…

Mark Bogard, Chief Executive of the Family Building Society has been elected as the new Chair of the Building Societies Association (BSA).  He takes up this role with immediate effect. Bogard held the post of Deputy Chair at the BSA since May 2019 and succeeds Mike Regnier, Chief Executive of the Yorkshire Building Society.  At…

Latest Bank of England (BoE) figures show that UK homeowners borrowed a record £11.8 billion more on mortgages than they repaid in March, with market activity driven by the stamp duty holiday and low mortgage rates. Gross mortgage borrowing hit £35.6 billion in March, with buyers looking to tie up property purchases ahead of the…

Credit Connect’s hosted its first-ever Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors. The themes of fraud, open banking, credit risk and the future of lending were discussed by panellists and Chair Chris Warburton from…

Business and consumer insights specialist, Equifax had announced a partnership with Canopy, a fintech platform focused on the financial wellbeing of tenants, to include rental payment data in its credit assessments. The collaboration is positive news for millions of tenants in the UK market who can now boost their credit score by reporting their rental…

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