Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 4% by volume and 7% by value in September, compared with the same month in 2018. In Q3 2019 as a whole, new business grew 3% by volume and 5%…
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A decade of low pay has driven working families deep into the red, and in nominal terms, household debt has risen 1.5 times faster than wages since 2010. according to new analysis published by the TUC. Real wages in the North East still haven’t recovered to their 2008 levels – the longest pay squeeze in centuries.…
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New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew by 8% in September, compared with the same month last year. In Q3 2019 as a whole, new business grew by 4% compared with the same quarter in 2018. In September, credit card and personal loan new business together…
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New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market has reported that volumes are up by 20% in September Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Interim Director General of the FLA, said “The second charge mortgage market reported…
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Almost two-thirds (64%) of CFOs expect that within the next five years the financial world will no longer be able to operate without big data, however, 13% of CFOs think this is already the case. Currently, financial directors are mainly using big data to make well-informed decisions (54%), to make predictive analyses (41%) and to…
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Premier League fans will shell out £1.3 billion this season to follow their teams – as increases in the price of home tickets, TV subscriptions and merchandise hit their wallets. The report has explored spending by match-going football fans over the past five Premier League seasons, incorporating car and rail travel, merchandise, tickets, in-stadium food…
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Consumer spending grew by just 1.5 percent in October, narrowly falling behind the current rate of inflation, as consumers remained cautious with their spending according to new data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, shows that essential spending grew slightly by 0.2 percent, bolstered by a 1.5…
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Capita has announced that it has renewed its contract with The Co-operative Bank to run its mortgage servicing operation in the UK and to continue to support the bank’s digitally enabled transformation. The renewed contract is worth up to £141million over six years, of which £107 million is incremental to Capita’s current contract with the…
Read moreThe Treasury Committee has published a unanimously-agreed report on Economic Crime. The report says that in the first half of this year, over £600 million was stolen from consumers. Economic crime is a serious and growing problem in the UK. One method to combat it is Confirmation of Payee, which will cross-reference payee names with…
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The latest data from the Bank of England showed that growth in consumer credit slowed to six percent in the year to September, the lowest since July 2014. While mortgage approvals were little changed, credit card borrowing fell to the lowest this year and overall consumer credit growth slowed. The figures also showed that total…
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A third of young adults use their credit card to pay bills according to new survey findings from 118 118 Money. The research shows that the credit cards are used to purchase holidays (53%), clothes (50.9%) and food (47%). A number even admitted to paying their monthly mortgage or rent payment with a credit card (4%).…
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Remortgages as a share of total searches have risen 5.3% in the last year, new analysis from Experian has revealed. Over a quarter (28.7%) of September’s mortgages searches via Experian’s comparison service were for remortgages compared to 23.4% in September last year. Correspondingly, the proportion of first-time buyer mortgage searches fell by 5.3% to 55.3%…
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Unexpected payments cost consumers £17 billion every year according to Lowell, which commissioned the research. The research also showed that one in five were left in debt after an unexpected bill, with a tenth having to move back in with their parents because they couldn’t afford to pay for their home. John Pears, UK Managing…
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