Here is an overview of The Money Charity’s latest statistics for August 2019: Personal debt in the UK People in the UK owed £1,642 billion at the end of June 2019. This is up from £1,596 billion at the end of June 2018, an extra £887 per UK adult over the year. The average total…

Provident Financial has highlighted “good recovery” in its interim results for the six months ending on 30 June 2019. The listed doorstep lender, which serves 2.4m customers, reported pre-tax profits of £74.9m for the first half of 2019, the same as the equivalent period for last year. Malcolm Le May, Chief Executive Officer, said “Despite…

Here is an overview of The Money Charity’s latest statistics for July 2019: Personal debt in the UK People in the UK owed £1,640 billion at the end of May 2019. This is up from £1,592 billion at the end of May 2018, an extra £922 per UK adult over the year. The average total debt per household, including mortgages,…

The CCTA association who represent businesses providing credit to consumers has announced that Chief Executive Officer (CEO) Greg Stevens will take over as Chair for the CCTA council replacing John Fellows. Fellows, who has held the role of Council Chair for seven years, said “I’m delighted to announce that Greg Stevens has agreed to take…

Here is an overview of The Money Charity’s latest statistics for June 2019: Personal debt in the UK People in the UK owed £1,637 billion at the end of April 2019. This is up from £1,588 billion at the end of April 2018, an extra £946.00 per UK adult over the year. The average total debt per…

The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in the Buy Now Pay Later (BNPL) market, saving consumers around £40-60 million a year. The changes, which include banning firms from charging backdated interest on money that has been repaid by the consumer during the BNPL offer period, will be in force…

Home collected credit lenderMorses Club has announced the appointment of Andrew Hayward as Chief Financial Officer (CFO), subject to regulatory approval. Hayward will join Morses Club on 1st July 2019 and will also be appointed as an Executive Director to the Morses Club Board. Hayward joins Morses Club from eServGlobal, the ASX and AIM listed…

Non-Standard Finance (NSF) has announced that it has withdrawn its £1.3billion takeover bid for Provident Financial. After talks with regulatory authorities, NSF’s offer for Provident would lapse as the regulatory condition would not be satisfied by midnight today, the company said in a statement. NSF said that after discussions with regulatory authorities, in learning that…

The home credit division of Non-Standard Finance (NSF) is to be floated on the London Stock Exchange as an independent company if the £1.3 billion takeover of Provident Financial is to go ahead. NSF has told the Competition and Markets Authority (CMA) it would demerge the Loans at Home division to avoid competition concerns if…

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