Credit, Collections & Insolvency News
Debt advice experts are calling for enhanced training for legal advisers and court staff following last week’s announcement by the High Court that up to 17 people in England and Wales were unlawfully sent to prison in 2017 for council tax arrears. While the court failed to declare this a ‘systematic failing’, it was acknowledged…
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UK Finance has published the latest mortgage lending figures. Key data highlights from the report include: Mortgage activity has been building through the year, helped by increasing numbers of first-time buyers. Gross mortgage lending in the month is estimated to have been £20.2 billion, 1.2 percent more than a year earlier. Credit card spending decreased slightly…
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Cleo, an Artifical Intelligence (AI) money manager has launched a one-click charity giving feature, for online and mobile giving across the UK. Since 2015 the number of people giving monthly has fallen, while the number giving on an ad hoc basis has risen. At the same time, the proportion giving via mobile and online – through…
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UK renters are putting themselves at risk of homelessness by failing to have a financial safety net in place, research from Scottish Widows* has found. More than a third (38%) of private renters admit that they’d not be financially secure if their household lost its main income. And nearly four in 10 (39%) – amounting…
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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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