Credit, Collections & Insolvency News
Account Information Service Provider (AISP), consents.online, a subsidiary of leading bank data analytics platform, AccountScore, has entered into an agreement with HSBC to provide it with access to the transaction data of consumers from other organisations under the UK’s Open Banking programme. In addition, HSBC UK will utilise consents.online’s leading consent management architecture whereby the…
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UK Finance’s Mortgage Trends Update for March 2018 has revealed a small increase in lending to first-time buyers compared to a year earlier while remortgaging levels softened slightly after a busy start to the year. Separate figures from the Bank of England show that gross mortgage lending in the first quarter of 2018 was £61.1 billion, up…
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More county court judgments (CCJs) were registered against consumers in England and Wales during Q1 2018 than any other quarter since current records dating back to Q1 2005 began, according to figures released by Registry Trust. During Q1 2018, 305,877 judgments were registered against consumers in England and Wales – over double the 150,622 consumers…
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TotallyMoney, the credit report, eligibility, and comparison specialists and NewDay, a leading specialist financial services provider and one of the largest issuers of credit cards in the UK, have partnered together to re-launch the Fluid Credit Card. A new credit product designed to help Near-Prime consumers reduce interest payments and pay down their balance sooner with a balance transfer…
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The government has announced that it will not review logbook loan reform as part of its Goods Mortgages Bill. The decision has been described as ‘deeply disappointing’ by the Money Advice Trust. The Bill, announced in the June 2017 Queen’s Speech, was drafted by the Law Commission following a comprehensive review commissioned by the Treasury in…
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National research by Labrador has revealed that consumers are blind to the reality of their energy costs, bills and tariffs. The data reveals that only 12 percent of consumers have paid their energy bills via an actual reading for the last 10 years. Moreover, 46 percent of bill payers have paid for their energy bills via…
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The Credit Services Association (CSA)has appointed Mark Buckley as its new Head of Sales. Buckley’s immediate task is to secure further sponsors and delegates for the UK Credit and Collections Conference (UKCCC) 2018, which takes place on 13 September at the Crowne Plaza in Stratford-Upon-Avon. Mark will also be selling the benefits of CSA Apprenticeships…
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The HMRC has increased its spend on private sector debt collectors by 62% in the last year to £39m in 2017, up from £24m in 2016, says UHY Hacker Young, the national accountancy group. UHY Hacker Young says that the steep rise in spending on private sector debt collectors could suggest that HMRC may be…
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Here is an overview of The Money Charity’s latest statistics for May 2018: Personal debt in the UK People in the UK owed £1.584 trillion at the end of April 2018. This is up from £1.53 trillion at the end of April 2017– an extra £1,026.74 per UK adult. Per adult in the UK that’s an average debt of £30,601 in…
Read moreNpower’s has announced that it is raising prices for approximately 1 million standard variable dual fuel customers by 5.3%. Npower is the fourth of the ‘Big Six’ energy suppliers to raise the price of its standard variable tariff (SVT) in recent weeks, following similar moves from British Gas, EDF and Scottish Power. Responding to price…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in March was at a similar level to that reported in March 2017, and grew 6% in Q1 2018 as a whole. Credit card and personal loan new business together grew in March by 7%, compared with the same…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market fell 5% by value and 10% by volume in March, compared with the same month in 2017. In Q1 2018, new business grew 3% by value, while volumes fell by 1%…
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The amount of new credit issued in the UK went sharply negative in Q1 2018, dipping to a level it has not seen in six years according to research by Pantheon Macroeconomics. The research suggests that consumers also abruptly increased their repayments of loans at the highest rate since records began in 2013, according to Pantheon Macroeconomics…
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