The Intermediary Mortgage Lenders Association (MLA) has announced that it has seen an increase in demand for 35-year mortgages. Highlights from its latest report indicate that: Nearly seven in ten (69%) mortgage brokers report an increase in demand for 35-year mortgages in IMLA’s latest Intermediary Lending Outlook research Over one in ten (13%) report a…

The Financial Conduct Authority (FCA) has announced that they are about to undertake a new a thematic review of the debt management sector. The FCA said in a statement: Debt management remains a priority for us as poor practice by debt management firms poses a high risk to consumers, particularly those in vulnerable circumstances. It is important…

How cloud technology can improve collections performance In today’s world, few consumers are immune to the risk of personal debt. The uncertain nature of the global economy is creating a new breed of debtor, in the form of a consumer who has temporarily fallen on hard times, after living their whole lives as reliable bill-payers.…

Computershare has launched a £20,000 charity fund to help prevent financial hardship and support those experiencing money problems. From December Computershare’s Loan Services division will donate up to £5,000 to good causes every quarter, and is currently seeking submissions from charities wanting funding for initiatives focused on financial difficulty. Andrew Jones, Chief Executive Officer at…

Statutory debt relief and debt management products overseen by Accountant in Bankruptcy (AiB) have returned £80 million to creditors in the past year, according to the Annual Report and Accounts published by the Agency today (13 September 2017). A record 1,603 debt payment programmes under the Scottish Government’s pioneering Debt Arrangement Scheme were also completed in…

 Redwood Bank, a new business bank for SMEs, has announced that just over four months after securing its initial banking licence, it has completed its “mobilisation” phase and has now opened for business, offering secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. It has also launched a…

Capita has agreed a contract extension until 2020 to provide mortgage services to Tesco Bank. Since the launch of Tesco Bank Mortgages in 2012 Capita has provided a full mortgage outsourcing service from their Glasgow based office. The service spans mortgage advice, telephony support, processing, servicing and arrears management. Initially, this supported Tesco in launching a…

 Software specialist Rimilia has appointed Karl Campbell, who joins as Chairman. In addition to the appointment the company has raised $25m in growth funding. The round was co-led by Kennet Partners and Eight Roads Ventures. Rimilia has clients across Europe and the US including Avis, Hitachi, Santander and Travis Perkins and currently employs over 70 people at…

Business finance provider, Henry Howard Finance, has appointed a new regional director for the South West to its Asset Finance division. With a career in finance spanning more than three decades, including 10 years as a director of asset finance at Lombard, Richard Arnold, joins the firm as South West regional director. Mark Crook, Group CEO…

Challenge: Risk Solutions Background: At the start of 2014, Nationwide’s Customer Services and Operations (CS&O) team launched a review of its risk management and control systems. Its aim was to create a more holistic view of risk, by taking in more granular information, which may potentially have been slipping under the radar. The team found…