A group of nearly 80 academics, policy experts and leaders of charities, trade unions and community groups have written to Chancellor of the Exchequer, Rishi Sunak, calling on him to provide an urgent, interest-free freeze on personal debt payments for people affected by Covid-19. The letter also calls for a write-off of existing council tax and social…

Here is an overview of The Money Charity’s latest statistics for March 2020 Personal debt in the UK People in the UK owed £1,680 billion at the end of January 2020. The average total debt per household, including mortgages, was £60,363 and per adult was £31,845, around 112% of average earnings. Net mortgage lending rose…

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…

The Financial Conduct Authority (FCA) has published information for firms on Coronavirus (Covid-19) In a statement, The FCA said that it stands ready to take any steps necessary to ensure customers are protected and markets continue to function well. We are working closely with the Government, the Bank of England, the Payment Systems Regulator and…

Finance lender, Mann Island Finance, has announced a key appointment with Andy Muir taking over as the business’s Head of Sales from Paul Power who will be retiring at the end of March. Muir has been promoted from his previous role as a regional manager. With a brief to drive Mann Island’s lending activity through…

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…

G3 Remarketing has announced that Oodle Car Finance will join the growing number of finance vendors to utilise their auction lanes to dispose of vehicles in 2020. Established in 2015, Oodle Car Finance have funded over £660million of car finance to more than 50,000 UK customers. Oodle have grown significantly over the last 12 months…

Provident Financial has announced its preliminary results for the year ended 31st December 2019 with Group adjusted profit before tax up 1.6% to £162.6m (2018 (restated): £160.1m), as the business continues to adapt to the evolving regulatory environment and successfully defended the hostile NSF bid. Malcolm Le May, Group Chief Executive, said “I am pleased…

Cox Automotive UK has announced that it has appointed Carlos Diaz, Adam Johnson and Mark Bolton to its senior technology leadership team. Diaz joins Cox Automotive UK as its head of software engineering from Preqin Solutions and will help transform software product development. Johnson becomes the new head of service and infrastructure, responsible for leading…

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…

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