Credit, Collections & Insolvency News
Styles & Wood has become a Supplier Member of the Credit Services Association (CSA), the first to join the extended category of membership since it was announced in November last year. Arctick, winner of the Regulatory Technology solution at the 2017 Credit & Collections Technology Awards with its enterprise Governance, Risk and Compliance (GRC) management software…
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John Lewis Finance has today officially launched a new personal loan offer as it continues to expand its range of financial services products. In addition to flexible loan terms, customers will benefit from no hidden fees, with no early repayment fees or penalties for over payments, no admin fees and a payment holiday option, offering…
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A ban on using credit cards for online gambling and a mandatory levy on gambling firms to fund addiction treatment are among the recommendations submitted as part of a government review of gambling regulation. A consultation by the Department for Digital, Culture, Media and Sport (DCMS) addressed calls to introduce concrete measures to tackle the…
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Computershare has announced that it has agreed to support the work of both The Money Charity and the Institute of Money Advisers (IMA) in the first round of funding from its new Loan Services Charity Donations Fund. The UK’s leading third-party mortgage servicer announced the creation of the £20,000 fund to help prevent financial hardship…
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Analytics software specialist Fico has announced a partnership with risk analytics consultants 4most Europe. The aim of the partnership is to help European financial institutions comply with banking regulations. 4most, a leading European firm in regulatory risk analytics and programme management. Under European regulations, it is increasingly important for financial institutions to document the decisions they make…
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December mortgage sales in the UK plummeted by 38% (£5.8 billion) on November, according to Equifax Touchstone analysis of the intermediary marketplace. Year-on-year sales dropped by 12.8% (£.1.4 billion). Residential figures dropped dramatically by 39.6% (£4.9 billion) on the previous month. Buy-to-let sales also tumbled, falling by 32.1% (£853.7 million) on November. All regions across…
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As forecast by TDX Group at the start of 2017, personal insolvencies grew significantly in 2017. With full year numbers still to be confirmed new Individual Voluntary Arrangements (IVAs) and Trust Deeds (TDs) in 2017 are on track to be almost 30% higher than 2016. TDX’s latest reports highlights the following areas as drivers for…
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1.3 million elderly people will struggle to afford their energy bill this winter according to new research by comparethemarket.com. Two fifths (43%) of over 65-year olds are worried that cold weather this winter will lead to higher energy costs, over one in ten (11%) don’t feel they are in a position to afford an increase in…
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Technology specialist Redline has announced a partnership to power an innovative new motor finance product with RAC Flexiloan, launched last week by Shawbrook Bank and the motor services company. RAC Flexiloan allows used car buyers to defer a portion of the borrowing until the end of the term, so typically there’s a lower monthly repayment…
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A quarter of drivers who pay for their car on finance didn’t understand the finance options open to them when they took the agreement out, while nearly three-quarters (72%) took the first product recommended by a single car dealer without shopping around for the best deal, new research commissioned by the RAC has found. The…
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Household spending increased more rapidly than income growth in the last financial year (2016-17), with the biggest rises taking place among lower-income households, the Resolution Foundation said in response to the latest ONS Family Spending figures. The ONS figures show that households increased their spending by 4 percent in 2016-17, helped by low inflation and…
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Private Equity firm, AnaCap Financial Partners has announced that it has reached an agreement to acquire a portfolio of seasoned, performing UK unsecured personal loans from Secure Trust Bank. The portfolio is highly diversified, covering more than 10,000 individual loans geographically spread across the U.K., with an average seasoning of almost two years, thus providing…
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United Utilities has this week launched two new financial support schemes, one of which guarantees to help customers behind with their water bills to be debt free within two years. The schemes were launched at its first-ever affordability summit in Liverpool where it has brought together organisations from across the region who deal with customers…
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