Credit, Collections & Insolvency News
The latest SME finance monitor report has showed that 8 out of 10 SMEs are refusing to apply for new finance as a result of Brexit uncertainty. Angus Dent, CEO of Peer to Peer lending platform ArchOver, on why that is the wrong approach for businesses and why a strong UK economy needs companies to…
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Alternative business funding provider, ThinCats, has recruited an Origination Manager for Scotland. Geoff O’Brien will be the key contact for Scotland, leading all new business origination across the region. O’Brien has significant, relevant experience for the position, through his Director level roles at the likes of Santander and Clydesdale Bank, specialising in Business Development, supporting…
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The Bank of Ireland has released its latest arrears and repossessions statistics. The Residential Mortgage Arrears and Repossessions Statistics for Q2 highlights indicate: The number of mortgage accounts for principal dwelling houses (PDH) in arrears fell further in the second quarter of 2017; this marks the sixteenth consecutive quarter of decline. A total of 73,706 accounts…
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UK Finance has released the latest remortgaging date which shows that lending for house purchases in July was lower than in the preceding month but higher than a year earlier. Highlights from the statistics show: First-time buyers borrowed £5 billion, 15% lower than in June but 14% higher than in July 2016. They took out…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 6% in July, compared with the same month last year. Including high-value deals, new business fell by 1% over the same period. The plant and…
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Businesses may need to take a greater ‘leap of faith’ and invest for the future despite the current uncertainty. In the ICAEW’s latest Economic Forecast, it predicts GDP growth of 1.6% in both 2017 and 2018, 0.8% slower than the average for the past three years. Despite the lack of certainty on Brexit, the economic…
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2016 showed a continued decline of 6% in the number of company insolvencies in the Central and Eastern European (CEEE) region, following a fall of 14% in 2015 according to new reseach by Coface. In all, over the course of last year, six entities per 1,000 became insolvent. This improvement was in line with the…
Read moreNew figures released tby the Finance & Leasing Association (FLA) show growth of 13% in consumer finance new business in July, compared with the same month last year. Credit card and personal loan new business together grew by 16% compared with July 2016, while retail store and online credit new business increased by 11%. Second…
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BNP Paribas Leasing Solutions has appointed Morgan Vessier as new Head of Risk. Vessier, who joined the BNP Paribas Group in 2005, has worked across several key business units, including BNP Paribas Personal Finance, where he served as the Head of Center for Scoring, and the Turkish Economic Bank (TEB), where he acted as Director…
Read moreMoore Stephens has announced that has become a Corporate Partner of the Chartered Institute of Credit Management (CICM). The company has a network of offices throughout the UK. Its clients range from individuals and entrepreneurs, through to large organisations and complex international businesses. Brendan Clarkson, Head of the National Creditor Services team at Moore Stephens…
Read moreBusiness rescue and recovery specialist, Begbies Traynor has appointed Kris Wigfield as Partner in its Sheffield office. Wigfield joins Begbies from Wilson Field, where he acted as its Sheffield-based national head of sales for five years, qualified accountant and insolvency practitioner. Julian Pitts, regional managing partner for Begbies Traynor in Yorkshire, said: “We are really…
Read moreHilco Valuation Services has announced the appointment of Nat Baldwin as Director of Intellectual Property (IP) Services Europe. Baldwin will assume business development responsibility for the United Kingdom and European intellectual property appraisal and disposal practice at Hilco Valuation Services, assisting clients in identifying, preserving, and extracting value from these key assets within corporate transactions.…
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Twice as many UK grandparents are providing regular financial support to their adult grandchildren when compared to those children’s parents (13% vs. 7% of parents), according to new research from customer-owned financial services company, OneFamily. The OneFamily report found that most of these grandparents’ also provided this support on a no-strings attached basis (73%). This…
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