The British Bankers’ Association (BBA) has releases it’s latest figures indicating a growth in consumer borrowing during December, but there are signs that demand may soften in 2017 as consumers and businesses anticipate higher interest rates. Gross mortgage borrowing totalled £12.6bn, up 3.6% from December 2015; while net mortgage borrowing grew by 2.5% compared to December…
Read more
Weightmans and Ward Hadaway have issued a joint statement addressing merger discussions: “The legal market is changing and it is always sensible to look at opportunities that might benefit a business, its clients and its staff so Weightmans and Ward Hadaway are currently talking to each other to see if there are benefits of working…
Read moreBanks and financial institutions must change the way they operate to give customers with mental health problems equal access to good customer service, a leading mental health think tank has urged. New research fully demonstrates for the first time how financial capability – people’s ability to manage everyday financial tasks like paying bills or budgeting –…
Read moreHSBC has voluntarily agreed to set up a redress scheme for customers who may have suffered detriment by paying an unreasonable debt collection charge imposed by HFC Bank Ltd (HFC) and John Lewis Financial Services Limited (JLFS), the Financial Conduct Authority (FCA) has announced today. Both HFC and JLFS are now part of HSBC Bank…
Read more
Here is an overview of The Money Charity’s latest statistics for January 2017: Personal debt in the UK People in the UK owed £1.512 trillion at the end of November 2016. This is up from £1.460 trillion at the end of November 2015 – an extra £1017.04 per UK adult. Based on November 2016 trends,…
Read moreThe Money Charity has released it’s latest monthly statistics with it’s research revealing that each Briton is spending, on average, £1001 a year on debt interest repayments, 3.79% of average earnings. That is more than £50 billion at an annual rate – the lowest figure seen since 2003. Debt might have grown to a record 12…
Read more
January is the month of the most registered deaths and the highest funeral bills of the year according to latest figures released by SunLIfe. The month always sees more registered deaths than any other time of the year, with 47,336 in the first four weeks of 2016; 17% more than the rest of the year. And…
Read more
New figures released today by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in November, compared with the same month in 2015. Credit card and personal loan new business together grew by 10% compared with November 2015, while retail store and online credit new business increased by 3%…
Read more
Target Group has announced the purchase of the operating business of Commercial First. Commercial First are a provider of commercial and residential mortgage servicing, due diligence and property valuations for clients ranging from blue chip banks and fund managers to private equity and mortgage securitisations. Established in 2002 and based in Skipton, Commercial First provides…
Read moreIrish bank KBC has sold loans to credit-servicing and debt-collection firm Cabot Financial Ireland. The sale of the KBC portfolio is understood to involve more than 100 loans – most of which related to buy-to-let properties that have been sold – with money is still owned on the original mortgages. The sale comes weeks before…
Read more
Julian Winfield has been appointed the new Country Manager for Salford-based Hoist Finance UK, the leading debt restructuring partner for international banks. He joined the business in 2014 as Chief Financial Officer (CFO). Winfield has more than 20-years’ experience in financial services, insurance and retail, having started his career with Kwik Save and Argos. More recently he…
Read more
Marston Holdings (Marston) has announced that it has acquired NSL. NSL provides a range of outsourced services to local government, central government and business, including: issuing and processing of road traffic Penalty Charge Notices on behalf of local authorities; UK-wide vehicle excise duty enforcement on behalf of the Driver and Vehicle Licensing Agency; administration of…
Read moreDebt Collection Agency (DCA) ARC (Europe) has announced that it is to become the first DCA in the UK to install the PureCloud Engage dialler and customer services technology. The technology to manages voice, email and web chat interactions to support thousands of inbound and outbound communication. The Cloud-based system, developed by the Interactive Intelligence Group (part…
Read more