Credit, Collections & Insolvency News
Close Brothers has announced that it is selling its point-of-sale (POS) retail finance business to Swedish consumer lender Klarna, as it decides to focus on secured lending products, which include leasing and motor finance. The acquisition will significantly strengthen Klarna’s position in the UK market for retail financing and will enable accelerated growth and expansion of…
Read moreThe Open Banking Expo has announced the appointment of two fintech heavy-weight speakers for its morning and afternoon keynote sessions. Google’s renowned former managing director is confirmed as the morning keynote, who will offer a unique insight on the future of Open Banking. Now MD, Fintech at Blenheim Chalcot, Dan Cobley has always been ahead…
Read more
The winners of the second annual Credit & Collections Technology Awards were announced last night at the Credit Services Associations’s annual Gala dinner at the Crown Plaza in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation were revealed. Stay tuned…
Read more
The UK’s younger generations have increased the amount of debt they owe over the last five years according to analysis within Arrow Global’s consumer research report(Table 1). Significant numbers of millennials also don’t know how much interest they are paying (Table 3), according to the 2018 Debt Britain research from Arrow Global. The findings reveal…
Read more
UK Finance has published its mortgage trends update for July. The figures reveal that: There were 46,900 new homeowner remortgages completed in the month, some 23.1 per cent more than in the same month a year earlier. The £8.7bn of remortgaging in the month was 26.1 per cent more year-on-year. There were 32,600 new homemover mortgages…
Read more
The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has appointed Vineeta Manchanda and Rebecca Wilkie as members of its board of trustees. Manchanda and Wilkie will replace Claire Whyley, Merrick Willis and Sian Williams on the board whose terms of service have come to an end. Manchanda has served as…
Read more
Computershare Loan Services has confirmed it has been appointed standby administrator by Belmont Green for its latest securitisation. The mortgage servicer will undertake the role for Belmont Green Tower Bridge Funding No 2 plc as well as acting as delegate mortgage administrator for the loans. Andrew Jones, Chief Executive Officer at Computershare Loan Services, said:…
Read more
The winners of the second annual Credit & Collections Technology Awards will be revealed tonight at the Credit Services Associations’s annual Gala dinner at the Crown Plaza hotel in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation will be announced.…
Read more
New research by price comparison website MoneySuperMarket has revealed that although over a third of consumers (39 per cent) use contactless technology to make payments, the vast majority are concerned about introducing alternative payment methods, such as fingerprint or facial recognition, into their day-to-day spending. Despite advances in technology in the banking sector and the…
Read more
The latest mortgage Lenders and administrators statistics from Quarter 2 have been released by the Bank of England which is highlighted by a rise in mortgage activity. The outstanding value of all residential loans continued to increase in 2018 Q2 to £1,417.2 billion, 3.8% higher than a year ago (Q2 2017). Compared to the second…
Read more
Last month proved to be a record-breaking one for New Payment System Operator (NPSO) subsidiary, Bacs Payment Schemes (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK. Across August, a huge 580 million payments were processed, smashing the existing record of 573 million, set in December 2015. A new daily high…
Read more
Lending criteria sourcing provide, Knowledge Bank has announced that is now offering brokers the ability to perform criteria searches within two lending types: Bridging and Commercial. The addition of the new sectors has added over 9,000 individual criteria to the Knowledge Bank system taking the total criteria held by the system to over 70,000. This…
Read moreThe Central Bank of Ireland has published its latest quarterly bulletin showing that household debt as a proportion of disposable income has fallen by 79.2 percentage points since its peak in Q3 2011. The latest statistics also show: Irish household debt as a proportion of disposable income fell by 9.7 percentage points over the year…
Read more