Credit, Collections & Insolvency News
The Credit Connect News team will be taking a break over Christmas, however we look forward to bringing you more interesting news stories in 2019. We would like to take this opportunity to thank you for reading our website and weekly newsletter (if you are subscribed?) and to wish you Happy Holidays. We will be returning…
Read moreUK Finance, the trade organisation representing the banking and finance industry operating in the UK, has announced the appointment of Bank of Ireland’s Richard Rowntree as the new chair of its Mortgages Product and Service. He will replace outgoing Chair Miguel Sard, Managing Director of Mortgages at Santander, in January 2019. The UK Finance Mortgages…
Read moreTop ten accountancy and business advisory firms BDO and Moore Stephens have exchanged contracts confirming a merger that will create the largest UK accountant and business adviser focused on entrepreneurially-spirited, fast-growing businesses and high-net-worth individuals. The exchange of contracts, confirms a deal that will cement BDO’s position as the UK’s leading AIM-market auditor and will enhance the combined…
Read moreThe Financial Conduct Authority (FCA) has banned Darren Newton from working in the financial services sector. The FCA discovered Newton used customers’ money for the purchase of the debt management firm, First Step Finance Limited. This showed a serious lack of honesty and integrity. The FCA has decided that he is not a fit and…
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A new report commissioned by Ofgem and the Gas and Electricity Markets Authority (GEMA) has indicated that consumers need more clarity in the language used on their utility energy bill. The report titled The Sustained Engagement in the Energy Market surveyed 30 respondents with a range of switching experiences with both tariffs and suppliers from a…
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The Central Bank of Ireland has published its latest residential Mortgage Arrears & Repossessions Statistics from Quarter 3 2018. The figures have revealed that the number of family homes being repossessed has fallen, with the improving economy helping to cut the number of mortgages in arrears. The figures show 191 homes were repossessed in July…
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The Competition and Markets Authority (CMA) has announced a package of reforms to tackle the substantial loyalty penalty impacting millions of people. The CMA has investigated concerns raised by Citizens Advice in a ‘super-complaint’, that companies penalise existing customers by charging them higher prices than new customers. The CMA has looked at the 5 markets…
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The Justice Committee has launcheed an inquiry into the enforcement of debt by bailiffs (also known as enforcement agents) in England and Wales. The Committee’s inquiry will run alongside an Ministry of Justice (MOJ) consultation and will focus on High Court and Civil Enforcement Officers, who collect debts such as Council Tax, parking fines and utility…
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The TALL Group of Companies has announced it has partnered with DIA Europe, providers of the Kappa cheque fraud prevention platform used by many leading banks, to create a new tool that is designed to strengthen the cheque industry’s protection against payment fraud. UCN Plus will help to ensure that counterfeit, forged and fraudulently altered…
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LendingMetrics, the company behind OpenBankVison, has appointed Luke Gould as its new Business Development Manager. Gould, who has a background in a wide range of sales roles, joins the Fareham-based business from Audit Nationwide. He will work closely with LendingMetrics’ Partnership Manager Claire Januszczak. LendingMetrics’ Director David Wylie said “Our free forever opening banking platform…
Read moreomputershare Loan Services has launched Zephyr Homeloans: a dedicated buy-to-let lender that provides a range of mortgage products for professional portfolio landlords and other specialist property investors. The underlying funding is arranged separately. Computershare says that Zephyr aims to support intermediaries by offering proactive guidance and providing mortgage solutions that will help them meet the…
Read moreThe Competition and Markets Authority (CMA) has announced a package of reforms to tackle the substantial loyalty penalty impacting millions of people. The CMA has investigated concerns raised by Citizens Advice in a ‘super-complaint’, that companies penalise existing customers by charging them higher prices than new customers. The CMA has looked at the 5 markets…
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Here is an overview of The Money Charity’s latest statistics for December 2018: Personal debt in the UK People in the UK owed £1.613 trillion at the end of October 2018. This is up from £1.564 trillion at the end of October 2017, an extra £928.44 per UK adult and £142.69 higher than the previous month. The average…
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