Credit, Collections & Insolvency News
Latest figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 9% by value and 3% by volume in January, compared with the same month in 2016. The percentage of private new car sales financed by FLA members through…
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New figures released today by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in January, compared with the same month in 2016. Credit card and personal loan new business together grew by 11% compared with January 2016, while retail store and online credit new business increased by 1%.…
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The UK’s most vulnerable tenants are being pushed out of the private rental market, according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey. New figures show that around one-third of respondents believe that access to private rented properties had fallen among people on housing benefits. Recent caps to housing benefits were…
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Britain is on course for an unprecedented 15 years of spending cuts and lost pay growth, according to the Resolution Foundation’s overnight analysis of Budget 2017. The report finds that despite the Budget day focus on short term forecast improvements, the date for achieving an overall budget surplus has been pushed back until 2025. Average…
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The Citizens Advice has given its response to the budget announcement. Gillian Guy, Chief Executive of Citizens Advice, said “The Chancellor has set out good intentions for helping ordinary working families – the test will be if the government delivers on boosting income security and tackling failing consumer markets. We’ve repeatedly called for more support…
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Permanent TSB Group has confirmed the appointment of Robert Elliott as the next Chairman of the Group with effect from 31 March 2017. Elliott retired recently as Chairman and Senior Partner Linklaters LLP. Jeremy Masding, Group Chief Executive of Permanent TSB, said that the Group was delighted that Mr. Elliott would be the next Chairman; “Robert is…
Read moreFollowing the announcement of today’s Budget the Money Advice Trust has suggested that a year of pressure lies ahead for UK households. Joanna Elson OBE, Chief Executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said: “While the economy is performing better than expected, the OBR’s forecasts point to a year…
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The Office for National Statistics (ONS) has published its latest Wealth and Assets Survey. Early indicator estimates from the survey: attitudes towards saving for retirement, credit commitments and debt burden show that nearly half (46%) of GB adults thought buying property would be the best way of making money for their retirement in 2014/16, up from 43%…
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E.ON has announced an 8.8% dual-fuel price increase from the end of April 2017, it will increase its standard variable dual fuel prices from Wednesday 26th April 2017. It is thought around 2.5 million customers will be hit by the price rise. The dual fuel price change stems largely from an increase in costs, due…
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The Financial Conduct Authority (FCA) and the Money and Mental Health Policy Institute have teamed up to set financial and technology firms an ambitious mental health challenge. The charity and the financial regulator are bringing together some of the UK’s biggest banks and new start-ups to compete in a mental health ‘TechSprint’ hosted by PwC;…
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Private tenants are struggling to get a foot on the housing ladder because of the costs that come with renting according to the Citizens Advice Service. A new report from the charity finds that just under three quarters (74%) of private tenants say the combined costs of rent, agency fees and moving make buying a…
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Over 600,000 consumers of short term loans may no longer have access to credit, according to a report by the Consumer Finance Association (CFA) and economic analysts, Oxera. Without access to a regulated form of finance many consumers are unable to take action to manage their cash flow or cover emergency financial costs. They could end…
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Over 620,000 families in England and Wales are spending more on overdue bills than on food, new research published by The Children’s Society has found. Families behind on bills are spending 18% of their income on paying back arrears. The Children’s Society is warning that huge bills can force families to cut back on food…
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