Credit, Collections & Insolvency News
New survey findings commissioned from YouGov by StepChange Debt Charity reveal that more than a quarter of us (27%) started the New Year feeling uneasy about our finances. Among people who feel uneasy, two thirds (65%) have felt this way for more than a year. A fifth (22%) have felt uneasy for more than five…
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New research by Leeds Building Society found nearly a quarter of people in the UK who celebrate the festive season (24%) don’t save ahead for it at all. Conversely, 15% of those surveyed start saving in January although 39% tend to leave it much later and start putting money away from September onwards. As part…
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Consumers are bracing themselves for a major financial crisis and housing crash this year according to a new poll from Spearvest, a wealth management firm. The study, conducted by independent survey company Censuswide asked 1,000 members of the UK public about their views on the economic outlook for 2019. A total of 44 per cent…
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New figures released today by the Finance & Leasing Association (FLA) show second charge mortgages increased by 21% in November. Commenting on the November 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The market has reported a…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017. Credit card and personal loan new business together grew by 1% compared with November 2017, while retail store and online credit new business increased by 2%. Second…
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The Financial Conduct Authority (FCA) has revealed plans to free ‘mortgage prisoners.’ Mortgage prisoners are defined by around 140,000 homeowners are trapped on loans with high interest rates. The plans were revealed by the FCA’s Chief Executive Andrew Bailey’s letter to the Treasury Committee on improving switching options for mortgage customers who are currently unable to do so,…
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TSB has announced a new £200,000 partnership with the Metropolitan Police (Met) to step up the fight against fraud and hunt down the criminals that sit behind it. Fraud is now one of the most common crimes in the UK and the financial impact to consumers is huge with over £2 million lost every day^.…
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A new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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Atom bank has joined Pay.UK-owned Bacs Payment Schemes (Bacs), which processes nearly six-and-a-half billion transactions a year worth £4.9 trillion. App-based Atom is the fourth payment service provider (PSP) in under 12 months to sign up to Bacs, reinforcing the continued relevance of established payment options Direct Debit and Bacs Direct Credit. Paul Horlock, chief…
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The Money Advice Trust has welcomed Lloyds, Santander and RBS’ plans to introduce controls for their customers over where they can spend their money, including allowing the blocking of gambling payments. The announcement follows on from the launch of similar controls by Barclays last month and work from Monzo and Starling in this same area…
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Data from the latest report from the Bank of England data shows that the annual growth rate of consumer credit slowed in November 2018, but credit card lending was still 7.9% higher than a year earlier, with other consumer credit lending up by 6.6%. Commenting on the latest figures, StepChange Debt Charity CEO Phil Andrew…
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Over one fifth of Brits (22%) say they feel most financially under pressure in January, following the excess of Christmas according to research from TDX Group, an Equifax company. The research indicates that of all the months in the year, January is the most financially difficult, with 26% of females flagging it as a pressure…
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As half-season tickets go on sale, football fans are being warned about the massive gulf in rates charged on loans by clubs. Depending on who you support, you may have to pay up to 36.3% APR to watch your favourite team play. These findings come from research by free-for-life credit report provider Noddle.co.uk – who…
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