Credit, collections & insolvency news
Salad Money has announced that it has appointed Sarah Hope as a Non-Executive Director. Hope has an asset finance background and is a former Director in the Global Credit Trading group at Deutsche Bank. A Columbia University (New York) graduate, she has worked in asset finance and securitisation on both sides of the Atlantic, including…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in November 2024 by 2% compared with the same month in 2023. The corresponding value of new business grew by 4% over the same period. In the eleven months to November 2024, new business was 2%…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in November 2024 by 1% compared with the same month in 2023. In the eleven months to November 2024, new business in this market was 1% higher than in the same period in 2023. The credit card and…
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The Bank of England’s quarterly credit conditions survey finds that lenders reported that demand for secured lending for house purchases increased in Q4 2024, but was expected to decrease in Q1 2025. Demand for secured lending for remortgaging also increased in Q4 2024, but similarly was expected to decline in Q1 2025. Lenders also reported…
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More than 42,000 households could be poised to take out homeowner loans this year, according to analysis of market statistics and housing market forecasts by Pepper Money, the specialist mortgage lender. Approvals for second-charge mortgages, or homeowner loans, were up 17% year-on-year during the first 11 months of 2024, according to analysis of official data from…
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Jaywing has announced the appointment of three senior industry experts to expand its capabilities and accelerate growth across key markets. The appointments include Didier Magloire as Head of Asia and Australasia Growth, Jeremy Bryson as Head of Data Management, and David Northen as Risk Transformation Lead. Didier Magloire joins in January 2025 to spearhead growth…
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Consumers lack awareness of the true costs of Buy-Now, Pay-Later (BNPL) products, underscoring the need for more awareness of these products, alongside proactive outreach from lenders to those who may be struggling financially according to new research by the or the LSB (Lending Standards Board). BNPL use increased around the Christmas, Black Friday, and Cyber…
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Latest ONS data has shown that inflation dropped slightly to 2.5% in December, up from 2.3% in October, down from 2.6% in November. Commenting on the inflation figures, Paul Noble, CEO of Chetwood Bank, said “Some good news to start the year for Britons. Many will have approached today’s result with some apprehension, but 2025…
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Business process servicing specialist Target Group has announced that has strengthened its senior team with the appointment of Scott Hill as Chief Information Officer (CIO). Hill brings more than 25 years of experience in the IT industry, implementing global strategies, business change initiatives and multi-million pound digital transformation projects for both national and international brands.…
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Rent and mortgage spending increased 1.8 per cent year-on-year last month, the lowest rate of growth since August 2024, according to the latest Barclays Property Insights report. Though encouraging, costs continue to increase, and consumers’ confidence in their ability to afford their rental and mortgage payments dropped to 52 per cent in December (down 3…
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Patricia Hamzahee OBE, an advisor, investor, philanthropist and specialist in access to funding for diverse businesses and social enterprises, has joined the board of Responsible Finance. Hamzahee was awarded an OBE in the recent New Year Honours list for services to philanthropy, to the arts and to impact investment. After a long career in banking…
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Cash usage is thriving as withdrawals ratcheted up for the third year in a row since the pandemic, data from Nationwide has found. The recent surge comes as many people opt for cash to budget at a time when the cost of living remains high. The biggest building society recorded around 32.8 million cash withdrawals…
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Optimism in the financial services (FS) sector fell at the quickest pace since September 2022, according to the latest CBI Financial Services Survey. That is despite business volumes growing at a faster pace in the quarter to December. The quarterly survey, conducted between 21st November and 9th December 2024, showed that FS firms expect a…
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