Figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2017 was 36, 10% lower than in the same quarter in 2016. The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q2 2017 was 0.06%,…
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There was a slight fall in the number of debt judgments recorded in the Ireland during the first half of the year, according to figures released today by Registry Trust. There were 1,117 judgments registered against consumers in the first six months of 2017, only one percent higher than the same period last year. But…
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The number of debt judgments in Northern Ireland increased during the first half of 2017 according to figures released today by Registry Trust. There were 4,101 small claims judgments in the first six months of the year, a year on year increase of 11 percent. The total value rose by 21 percent to £8.3m. The…
Read moreThere was a small increase in the numbers of decrees for debt against Scottish consumers during the first half of 2017, according to figures released by Registry Trust. In the first six months of 2017, 10,967 debt decrees were registered against consumers in Scotland, a four percent increase on the same period last year. The…
Read moreMidlands insolvency experts are raising the warning flag following the release of data by the Office for National Statistics which highlights that more than a quarter (26 per cent) of adults say they are burdened by some form of non-mortgage debt. While these preliminary results from the ONS’s latest Wealth and Assets Survey show that…
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Debt Management specialist Fairpoint Group has entered administration. In an announcement to the London Stock Exchange, Fairpoint Group Plc said it could no longer manage the £1m annual rent for the company’s head office. The company has given reassurances about the future of its legal services business, which employs more than 500 people across the UK,…
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Seven of the Top Ten areas for personal insolvencies are in seaside towns in 2016 as the British coastal industries and tourism continue their declines according to Moore Stephens. The top spot out of 348 towns for personal bankruptcies was Torquay, with 43 insolvencies per 10,000 population, compared with national average of 19.7. Other high…
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Maclay Murray & Spens announced that it is to combine with Dentons. The combination, which is expected to complete later in 2017 following approval by the partnerships of both firms. The new group will combine operating from offices in Aberdeen, Edinburgh, Glasgow, London, Milton Keynes and Watford. Dentons’ Global Chief Executive Officer Elliott Portnoy said “This combination…
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British Gas has announced a12.5% electricity price increase commencing in mid-September. British Gas owner Centrica has blamed the price hike on rising costs a move which will affect 3.1 million customers. Ben Wilson, Energy Spokesperson for GoCompare said “Wholesale energy costs have fallen but British Gas still try to justify an electricity price increase nearly five times…
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According to a new study from protection specialist LV=, renters among the late-Millennial generation (25-34 years old) are one of the least financially resilient groups in the UK. Based on research conducted with over 9,000 people, the first instalment of LV=’s ‘Income Roulette’ research found that more than half (55%) of 25-34-year-olds fall short of the…
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Consumers are shrugging off concerns about a spending squeeze with increased confidence in their personal finances, according to the latest Lloyds Bank Spending Power Report. The latest poll – which saw Ipsos MORI survey 2,000 people with bank accounts across the UK – comes amid a raft of economic data highlighting the challenges faced by…
Read moreGriffins has selected Encompass verify to software support them in their Know Your Customer (KYC) compliance. Griffins, specialises in providing insolvency, litigation and forensic services return to creditors through asset recovery. Encompass supports compliance with international Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations by empowering their front line staff to meet the evolving regulatory requirements of…
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Loyal customers who don’t remortgage after their fixed term deal can pay £400 extra a year, Citizens Advice research reveals. The penalty affects people who are rolled onto their bank’s standard variable interest rate at the end of a fixed term mortgage deal. The Citizens Advice research finds that people who remain on the standard…
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