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…

Shard Credit Partners has announced the completion of the management buy-outs (MBO’s) of both BW Legal Services and PRAC Financial by Rachael Withers, COO and co-founder of both businesses. Shard Credit Partners acted as exclusive financing provider, underwriting £13.5 million of committed senior secured unitranche facilities to complete the two deals.  The innovative financing structure…

The Credit Service Association (CSA) has responded to last week’s Financial Ombudsman’s figures on debt collection. In a statement the CSA said  “Recent media reports using figures from the Financial Ombudsman Service (FOS) fail to mention that the total number of complaints relating to debt collection activities has in fact fallen year-on-year, is significantly lower…

The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has further strengthened its Board of Directors with the appointment of four new senior industry executives. Frank Horvath has more than 30 years’ experience in financial services, including 27 years as a lender, debt seller and debt placer. His…

Ofgem has announced that the energy price cap for customers on default (including standard variable) tariffs, introduced on 1 January 2019, will increase by £117 to £1,254 per year, from 1 April for the six-month “summer” price cap period. The price cap for pre-payment meter customers will increase by £106 to £1,242 per year for…

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 Financial Ombudsman Service (FOS) has released its latest report which shows that it has dealt with around 3,300 inquiries about debt collection and took on over 1,000 new complaints for investigation in 2018. The complaints cover credit and consumer loans, such as mortgages, credit cards and personal or business loans. They don’t include household debts…

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…

Business process outsourcing (BPO) Target Group and operational has announced the appointment of two hires in the client services and business development teams. Neil Glover joins as Business Development Director, while Target also added David Facenfield as a Client Development Director within the client services team, as Target looks to strengthen its offering to clients.…