Credit, Collections & Insolvency News
The number of Irish homeowners in arrears for more than 90 days inched lower to 7 percent in the third quarter from 7.1 percent three months earlier, according to latest figures from the Central Bank data showed on Thursday, confirming a pattern of moderating declines. Arrears began falling sharply from a peak of 12.9 percent…
Read more
The Financial Conduct Authority (FCA) has published an updated consultation on rules to help customers in persistent credit card debt. This follows an April 2017 consultation paper on proposed remedies to help millions of people get out of expensive longer-term credit card debt. These include firms, at designated timeframes, prompting customers to make faster repayments…
Read moreThe Consumer Council for Water (CCWater) is warning against water companies being able to give to customers with one hand while taking from them with the other in the 2019 Price Review. The water watchdog has welcomed Ofwat’s tighter squeeze on companies’ financing costs which will help to keep bills down in the future. But…
Read more
AIM-listed specialist independent provider of finance facilities, 1PM has announced the proposed acquisition of MH Holdings (UK) Limited, the holding company for Academy Leasing Limited for up to £12m. Academy Leasing has grown organically since its launch in 1987 to become one of the UK’s leading providers of equipment and vehicle finance. The acquisition will allow Academy…
Read more
New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 7% in October, compared with the same month in 2016, while the value of new business was up by 2% over the same period. The percentage of…
Read more
New figures released by the Finance & Leasing Association (FLA) have shown that new business figures for the second charge mortgage market have continued to grow. Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported growth in October, with new business up…
Read more
The Financial Conduct Authority (FCA) has published a package of proposals on how firms and individuals will move to the Senior Managers and Certification Regime. The aim of the new regime is to make individuals more accountable for their conduct and competence. Earlier this year, the FCA consulted on extending the new regime to almost…
Read more
The latest Disposable Income Index (DII) published today by ISA provider Scottish Friendly has revealed that many British families feel pressure to create the perfect Christmas and are taking out loans or spending more on credit cards in order to buy gifts. Nearly six in ten households say they make sacrifices to buy Christmas presents…
Read more
New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in October, compared with the same month last year. Credit card and personal loan new business together grew by 13% compared with October 2016, while retail store and online credit new business increased by 3%. Second…
Read more
With the average cost of Christmas topping £700 for UK households, 40% of people have been forced to make sacrifices to pay for this year’s festivities, including cutting back on heating, clothes and food shopping, taking on an extra job and even selling belongings, according to new research out today.* The run-up to Christmas can…
Read more
Over a third of UK shoppers say they will be able to spend less on their Christmas shopping this year compared to 2016, the latest Christmas Barometer™ from Ferratum has revealed. The survey, which collected the opinions of 21,000 consumers across Ferratum Group’s 20 country locations, revealed that 33% of the UK public have become…
Read more
Non-seasonally adjusted data released by UK Finance today shows that the number and value of loans for remortgaging and for house purchases rose in October in comparison with a month ago and with the same period in 2016. Capital and interest payments for new loans remain near record lows for both home movers and first-time…
Read more
A ground-breaking fraud prevention scheme aimed at identifying and protecting potential fraud victims when they visit a bank or building society branch has stopped more than £9 million being passed to criminals in its first year of operation, figures from UK Finance show. The Banking Protocol, developed as a partnership between the finance industry, police…
Read more