The UK government is to make households that are made homeless exempt from Universal Credit following reports that the new benefits system has led to an increase in rent arrears. According to The Guardian, local authorities in London have said that rent collection levels for homeless tenants placed in emergency accommodation have collapsed following the introduction…
Read more
LendInvest and Pepper UK, have agreed to form what is believed to be the industry’s first partnership between a UK online property finance marketplace and an outsourced loan servicing business. Under the terms of the partnership, Pepper UK will take responsibility for servicing all new loans originated by the LendInvest team. The LendInvest team will…
Read more
One in every five business energy bills contains errors according to a research report by Inenco. The report also believes that businesses could be sitting on half a billion pounds in inaccurate charges and miscalculated utility bills. Energy bills mistakes include incorrect rates, human error, complex data flows and meter reading errors. Collectively, these inaccuracies…
Read more
Nucleus Commercial Finance has reached £500million of lending and plans to double this to £1bn in the next 12 months. Lending is up by 100% since April 2016 as more SMEs look for flexible finance solutions to fund their future growth. Since launch in 2011 Nucleus has lent to UK businesses ranging from start-ups to…
Read moreAsset based finance is increasingly taking market share from bank overdrafts as a key source of funding for SMEs, says the Asset Based Finance Association, the body representing the invoice finance and asset based lending industry in the UK and the Republic of Ireland. The ABFA explains that at any one time an average £9.5…
Read more
Aldermore, the specialist bank, has made two senior appointments to its Business Finance risk team. Jon Flagg has joined as Risk Director for Asset Finance and Clive Gould has been appointed Risk Director for Invoice Finance. Having started his financial services career in corporate lending at NatWest, Flagg has over two decades of asset finance risk…
Read more
A Select Committee on Financial Exclusion has called on the Financial Conduct Authority (FCA) and Banks to give greater priority to tackling financial exclusion in the UK. With more than 1.7 million people in the UK without a bank account and 40% of the working age population with less than £100 in savings, the Committee asks them to end…
Read more
Almost half of SMEs (49%) across the manufacturing sector have aspirations for growth over the next three months, compared with only 31% six months ago immediately after the EU referendum, according to the new quarterly research from Hitachi Capital’s British Business Barometer. The percentage of SMEs anticipating decline is also down from 12% to 9%,…
Read moreDuff & Phelps has announced that Michael Bills has been promoted to a Managing Director in its London office as part of the Restructuring Advisory practice following two successful secondments to leading Asset Based Lending institutions. Bills specialises in providing strategic financial advice and planning to borrowers and lenders with ABL facilities. This advisory work…
Read more
The Cheque and Credit Clearing Company (C&CCC) – the organisation that manages the cheque clearing system – has today announced details of the launch of an industry-wide image-based cheque clearing system that will speed up cheque processing significantly for customers across the UK. The new system will go live with some banks and building societies…
Read more
New research from Skipton Building Society has found that the majority of us spend longer each day on making a cup of tea than we do pausing to look at our finances. Skipton Building Society interviewed 2,000 UK adults about their financial habits, highlights of the report include: Three in five people (57%) spend half…
Read more
The House of Lords EU Justice Sub-Committee has published a report on Brexit which looks at justice for families, individuals and businesses. The report has found that : The current system for civil justice cooperation across the EU member states – in the development of which UK expertise has been prominent – works well. Disputes that…
Read more
Real consumer spending growth will moderate from around 3% in 2016 to around 2% in 2017 and 1.7% in 2018, according to PwC which summarises that the impact of Brexit on consumers will also vary by category of spending. In an extract from the UK Economic Outlook, which launches in full on 21st March 2017,…
Read more