MotoNovo Finance has announced it has become part of Aldermore, following its successful integration with the UK specialist bank. The announcement comes after Aldermore was acquired by FirstRand group in March 2018, and marks the successful coming together of FirstRand’s UK operations in retail, business and motor finance. The MotoNovo Finance business has been owned…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 2% in March compared with the same month last year. In Q1 2019 as a whole, new business was at a similar level to Q1 2018. Retail store and online credit new business increased by 4% in…

New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market fell 1% by volume in March, compared with the same month in 2018.  The corresponding value of new business was at a similar level to March 2018. The POS consumer new…

The Bank of England has published its latest Money and Credit statistics, showing consumer credit growth slowed to 6.4 percent in the past year as consumer credit increased by £0.5 billion in March, the lowest increase since November 2013. The weakness was largely due to a fall in new lending for car finance. Outstanding balances…

Paragon has announced that it has made two new appointments to its Vehicle finance team. Alan Timms has joined the specialist lender as a Regional Sales Manager to source and develop new business in the commercial vehicle sector while Kat Schorah joins him as an Assistant Relationship Manager. Timms has been in the industry for…

Here is an overview of The Money Charity’s latest statistics for April 2019: Personal debt in the UK People in the UK owed £1.633 trillion at the end of February 2019. This is up from £1.584 trillion at the end of February 2018, an extra £942.39 per UK adult over the year. The average total debt per household,…

The Finance & Leasing Association’s (FLA) Specialist Automotive Finance (SAF) programme has been relaunched in partnership with The London Institute of Banking & Finance (LIBF), with an improved range of training options for dealership staff that will further increase the professionalism, skills and knowledge in this sector. From today, those who successfully pass their yearly…

The Financial Conduct Authority (FCA) has published the latest complaints figures for regulated firms for the second half of 2018. During the second half of 2018 (2018 H2), complaints decreased by 5%, falling from 4.13m to 3.91m. This is the first time the number of complaints has fallen since firms were required to change the…

The Financial Conduct Authority (FCA) has published its Business Plan for 2019/20, which outlines the key priorities for the coming year. As the UK finalises preparations to leave the European Union, the immediate priority will remain supporting an orderly transition post-exit. The FCA will also continue to play a leading role in shaping the global…

The Financial Conduct Authority (FCA) has issued a reminder to authorised firms that they need to start preparing today for the Senior Managers and Certification Regime (SM&CR) to be ready for the new regulation coming into effect on 9th December 2019. The FCA has already rolled out the SM&CR to banks and insurance firms, and…

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