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Non-Standard Finance (NSF) has announced that it has withdrawn its £1.3billion takeover bid for Provident Financial.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…

Here is an overview of The Money Charity’s latest statistics for May 2019: Personal debt in the UK People in the UK owed £1,633 billion at the end of March 2019. This is up from £1,588 billion at the end of March 2018, an extra £852.40 per UK adult over the year. The average total debt per…

Subprime lender Provident Financial has revealed it has spent between £17million and £22million, to date in the hostile takeover bid by its rival Non-Standard Finance (NSF). In a trading update this morning, Provident revealed the figures in a trading update for the period January 1 to March 31. the firm also published exceptional items for…

Home collected credit specialist Morses Club has announced strong preliminary results as it reported strong annual profit growth as both credit issued and customer numbers rose. Morses Club’s revenue for the 52 weeks to February 23 rose by 0.3% to £117million, but on a proforma, like-for-like basis, it rose 6.%. Morses Club is providing proforma results…

Morses Club has announced that it’s Chief Financial Officer (CFO), Andy Thomson, plans to retire from his role on 1st July 2019. Thomson will remain as a Non-executive Director (NED) on the Board of Morses Club. Thomson was involved in the RCapital acquisition of Morses Club in March 2009, remaining on the Board as a…

Home collected credit lender Morses Club has announced changes to the board of the company. Baroness Simone Finn has been appointed to the Board as an independent non-executive director and Chair of the Audit and Risk & Compliance Committees with effect from 5th May 2019. Baroness Finn is a member of the UK House of Lords. She is a former…