Credit, Collections & Insolvency News
The Universal Credit cut will worsen rent arrears crisis according to the National Residential Landlords Association (NRLA) The NRLA says that with the Government pressing ahead with a planned cut to Universal Credit of £20 per week, the level of welfare support which had been increased in light of the impact of the pandemic on…
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SME leaders plan to invest £85,000 on average in new digital technologies and systems over the next 12 months, indicating Covid-19 has sparked a longer-term shift to digital among UK businesses, according to new research by Nucleus Commercial Finance. Expected digital spend climbs to £125,000 among younger, more tech-savvy SME leaders (those aged 18-34), compared…
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Ofwat has published the results of its customer satisfaction and experience for water and wastewater companies in England and Wales over the last year. The top performers when it comes to customer satisfaction are Portsmouth Water, followed by Wessex Water, Northumbrian Water, with Dŵr Cymru coming in at fourth place. Thames Water are bottom of…
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Research by Buy Now Pay Later (BNPL) platform Butter, has found that the majority of UK consumers would like to see the option to spread the cost of purchase become more widely available. BNPL enables consumers to buy products while deferring the payment for a later date, often repayable in monthly instalments. In Butter’s case,…
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The Government will today (Wednesday 6th October) withdraw £20 a week in support from Universal Credit claimants in a move that debt charity, StepChange says will have devastating consequences for its clients. Before today’s cut, among StepChange clients who rely on Universal Credit, the majority (59%) had more income than outgoings each month. Now, just…
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Research by estate and lettings agent, Barrows and Forrester, has revealed that rental demand has continued to climb across the vast majority of major UK cities during Q3, as a slow but steady return to the workplace, amongst other things, spurs a greater demand for rental homes within major urban areas. The Barrows and Forrester…
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Finance providers are now able to use LendingMetrics’ Auto Decision Platform to call Credit Kudos data for use with assisted decisioning. Providers can now utilise ADP to use the data available to them from Credit Kudos’ suite of products appropriately in their decisioning, such as Open Banking data which includes credit scoring, effectively using financial…
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One in five (20%) key workers say that they have had to reduce their spending during the Covid-19 outbreak, according to a new TUC poll. The polling, carried out for the TUC by BritainThinks, revealed a fifth of key workers said they cut back their spending at the end of the week or month because…
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Software solution specialist company, Aryza has announced that it is to open offices in Australia. The announcement comes off the back of the acquisition of Australian-based Insol 6, with teams now working in Perth and Sydney. Following a number of significant acquisitions in the first half of 2021, the Aryza suite of products incorporates technology…
Read moreOfgem has appointed E.ON Next to take on supplying Enstroga, Igloo Energy and Symbio Energy’s combined total of approximately 233,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of Enstroga, Igloo Energy and Symbio Energy have paid into their accounts will be protected, where they are in…
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A new ‘fintech’ app, called Sprive, has launched which claims that it can make it easier for people to become mortgage-free faster, saving thousands of pounds in the process. Sprive is the first independent mortgage overpayment app in the UK and is free of charge, making it easier than ever before for the millions of…
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More than fifty charities and not-for-profit organisations have written to the Chancellor of the Exchequer, Rt Hon Rishi Sunak MP, calling on him to use his autumn Spending Review to pump the extra resources into social care. The charities say that the vast bulk of the money from the Government’s National Insurance rise will be…
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The Chair of the Open Banking Implementation Entity (OBIE), the body set up to deliver open banking in the UK, has resigned as an investigation found that the agency allowed’“a culture of bullying and intimidation to prevail.” The Competition and Markets Authority (CMA) says Imran Gulamhuseinwala tendered his resignation as trustee and chair as part…
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