The Department for Work and Pensions (DWP) has published the latest official statistics on household incomes, covering the financial year 2015–16. IFS researchers have summarised the headline trends observed in the new data and placed them in historical context in order to understand better changes in living standards in recent years. Key findings include: Average household…
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The Department for Work & Pensions (DWP) has downplayed the impact of the problems in the roll out of Universal Credit on claimants and local councils, claiming that rent arrears associated with Universal Credit “are likely to be of a short duration” and “should not present an insurmountable obstacle to landlords”. This is despite its…
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Henry Howard Finance (HHF), has added to its management team by appointing Anne Williams as Chief Operating Officer (COO). Williams has more than two decades of senior management experience at GE Capital. Joining GE Capital in 1994, Mrs Williams quickly rose up the ranks, eventually spending more than three-and-a-half years as fulfilment leader, helping the…
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Atradius has appointed Mike Thomas as Head of Risk Services for UK & Ireland. Thomas has nearly two decades of experience within Atradius, joining in 1999. Initially appointed as an underwriting and recovery specialist his roles included underwriting Atradius’ intensive care portfolio. Mr Thomas then became responsible for managing higher risk multinationals within the automotive,…
Read moreHere is an overview of The Money Charity’s latest statistics for March 2017: Personal debt in the UK The average total debt per household – including mortgages – was £56,310 in January. The revised figure for December was £56,148. Based on January 2017 trends, the UK’s total interest repayments on personal debt over a 12…
Read moreA collaborative working agreement between the National Association of Commercial Finance Brokers (NACFB), Towergate Insurance and Funding Circle, means that NACFB members can now arrange an unrestricted number of commercial loans with peer-to-peer lenders without jeopardising their insurance cover. Under the terms of the trade body’s membership, NACFB brokers must have professional indemnity insurance which…
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Aldermore have released a new report which reveals that a fifth (19%) of all small and medium-sized enterprises (SMEs) – equating to 1.04 million firms in the UK with under 250 employees – have missed out on at least one new business opportunity in the past 12 months due to a lack of available finance.…
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UK consumer debt now stands at £240 billion according to new insight from. Almost three quarters (73 per cent) of UK adults admit they currently have some form of unsecured borrowing, such as personal loan, bank overdraft or credit card, with a third (33 per cent) of those admitting they rely on credit to get…
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Asset based finance to businesses is up 13% since last year, hitting an all-time high of £22.2 billion, rising from £20.6 billion the previous year, says the Asset Based Finance Association (ABFA), the body representing the asset based finance industry in the UK and the Republic of Ireland. The ABFA says that a key driver…
Read moreThe Finance & Leasing Association (FLA) latest figures show that asset finance new business (primarily leasing and hire purchase) grew by 16% in January, compared with the same month in 2016. New business in the plant and machinery finance and business equipment finance sectors was up by 35% and 21% respectively, while commercial vehicle finance…
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New figures released today by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in January, compared with the same month in 2016. Credit card and personal loan new business together grew by 11% compared with January 2016, while retail store and online credit new business increased by 1%.…
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Britain is on course for an unprecedented 15 years of spending cuts and lost pay growth, according to the Resolution Foundation’s overnight analysis of Budget 2017. The report finds that despite the Budget day focus on short term forecast improvements, the date for achieving an overall budget surplus has been pushed back until 2025. Average…
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Independent Growth Finance (IGF) has appointed Paul Edmeades as the firm’s Head of Underwriting for Asset Based Lending. Edmeades joins the business from Shawbrook Business Credit, where his role was Business Development Director for over two years. He has also held previous positions at GE Commercial Finance and NMB Heller, and has over 20 years’ experience in…
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