The Bank of England has published its latest mortgage lenders and administrators return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators. The figures show that the value of outstanding mortgage balances with some arrears increased for the first time since 2016…

Barclays mobile banking customers can now choose to block their ability to spend with certain types of retailer, in a move designed to help vulnerable customers struggling with addictions. The move is designed to help customers take more control of their finances. The new feature  could help those dealing with gambling problems, for example, to…

Measures to increase transparency and prevent abuse of limited partnerships, which some criminals have used to launder dirty money through the UK have been unveiled, as the government published its response to the consultation on the reform of Limited Partnership law. Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs) are used by thousands of legitimate British…

British shoppers have been warned to be extra vigilant this Christmas from fraud, as findings from Shieldpay’s latest Fraud Tracker reveal that one in five people (20%) have been scammed whilst buying Christmas presents online. Nearly one in 10 (9%) claim to have never received the item they purchased, whilst the rest reported that they…

The United Kingdom has a well-developed and robust regime to effectively combat money laundering and terrorist financing. However, it needs to strengthen its supervision and increase the resources of its financial intelligence unit according to a new report by the Financial Action Task Force (FATF)/ The report was an assessment of the United Kingdom’s anti-money laundering and counterterrorist…

One-in-five people (22 percent) say they have previously borrowed money from friends and family to help pay for Christmas even though the majority are embarrassed about asking, a new survey reveals. The research, commissioned by Curve,  examines how people in the UK plan to finance their spending this holiday season. The results expect the average…

According to the Joseph Rowntree Foundation’s UK Poverty 2018 study, water arrears weighs heaviest on the poorest families – ahead of other debts including council tax, rent and energy bills. The findings echo the concerns of the Consumer Council for Water (CC Water) which has been pressing water companies to do more to ensure financial support reaches the…

Financial services companies appear to have increased their appetite for risk compared to businesses in other sectors, a report has found. The Q3 2018 Global Supply Chain Risk Report, published by Cranfield School of Management and Dun & Bradstreet, investigates the level of perceived supply chain risk faced by European companies with international supplier relationships.…

The Money Advice Service (MAS) has launched new guidance which they say will assist Local Authorities to take a more progressive approach to the recovery of Council Tax, encouraging improved resident engagement, fairer outcomes and sustainable arrears repayments. Across the UK, the number of overindebted people is approximately 8.3 million. Furthermore, a third of people…

The Insolvency Practitioners Association (IPA) has announced a new regulatory framework for the continuous monitoring of the use of an Individual Voluntary Arrangement (“IVA”) by high-volume IVA providers. The Insolvency Service classifies high-volume as those firms that are responsible for 2% of the total number of IVAs annually. An IVA is one of the debt management…

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