Credit, Collections & Insolvency News
Mortgage specialist John Charcol has appointed Mark Fleet as its new Chief Executive. Fleet, was formerly James Hay Partnership Chief Commercial Officerand hass also worked at Skipton Building Society in roles including Distribution Director. John Charcol Executive Chairman Ian Darby says: “Mark brings a wealth of experience and a strong understanding of the mortgage market and…
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Latest research from the Joseph Rowntree Foundation (JRF) has highlighted how a benefits freeze will affect families- the majority of which are in work. The freeze is the single biggest policy driver behind the expected rise in poverty by the end of the Parliament. JRF is calling for the Government to target its resources better…
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A new guide for energy suppliers has been launched today by the Money Advice Trust and Energy UK to help better identify and support consumers in vulnerable circumstances. The guide, Vulnerability, mental health, and the energy sector: a guide to help identify and support consumers, provides practical tools for frontline staff to use with consumers…
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The latest figures from Finance & Leasing Association (FLA) have shown a continuing growth in second charge mortgages. Commenting on the August 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The second charge mortgage market reported another…
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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 8% in August, compared with the same month in 2016, while the value of new business was up by 2% over the same period. The percentage of…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 4% compared with the same month last year. Credit card and personal loan new business together grew by 4% compared with August 2016, while retail store and online credit new business increased by 7%. Second…
Read moreFinancial Conduct Authority (FCA) Chief Executive Officer Andrew Bailey said he does not view the shift to PCP based lending as ‘per se bad.’ In a speech, Bailey said: “It seems to me to recognise the nature of a car as an asset, that is, consumers are comfortable renting rather than owning the car.” “This…
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The UK new car market declined for a sixth consecutive month in September, with 426,170 new units registered, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Registrations fell by -9.3% in this key month, as economic and political uncertainty, and confusion over air quality plans led to a fall…
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A personal finance expert says that the recent publicity around mental health problems has been instrumental in helping those in debt to talk about the challenges they face. Emma Gibbons, a client support specialist at free debt advice service PayPlan, believes that events like World Mental Health Day, which takes place on 10 October, and…
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Ofwat has announced that it is going to report on how each water company serves, supports and protects customers in vulnerable circumstances. The report will show clearly those companies that are leading the field and those that are letting their customers down. Ofwat has been calling on water companies to step up their efforts to…
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Ascent Performance has announced their success in winning Compliance and Best Customer Outcomes Awards at a Credit industry Awards. Mark Higgins, Chairman of Ascent, collected the award and said “This award recognises the hard work that all our colleagues in Ascent have put into ensuring we offer the best customer experience – and deliver the…
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Home collected credit specialist, Morses Club has announced its interim results for the twenty-six-week period ended 26 August 2017. Highlights from the results include: · Strong first half performance with revenue up 14.8% to £54.2m (H1 FY17: £47.2m) · Net loan book growth of 16.0% to £65.2m (H1 FY17: £56.2m) · Impairment as a percentage of revenue for the period was 26.6% (H1 FY17:…
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Intrum has entered into an agreement to acquire a non-performing loan portfolio from Eurobank, one of the four Greek banks considered as critical for the stability of the Greek economy, for a total investment of approximately SEK 0.4 bn. The portfolio consists of well diversified unsecured consumer loans. Servicing of the portfolio will be outsourced…
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