Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business held steady in August, and grew by 1% in the twelve months to August, compared with the same period last year. Retail store and online credit new business in August was at a similar level to the same month…
Read more
Debt-related stress negatively impacting mental health of over 14 million consumers according to an independent survey of over 2,000 adults commissioned by KnowYourMoney.co.uk. The research has found that 70% of consumers are in some form of debt, with 25% of those saying feeling their debt spiralling out of control and 41% stating it is causing…
Read more
New research from equity release lender, more2life, reveals that the proportion of over-55s who have been in debt in the last five years and have borrowed using credit cards has significantly increased over the past 12 months, from 37% in 2018 to 54% in 2019. The growing levels of unsecured debt among over-55s is also…
Read more
To mark World Mental Health Day, four leading banks have announced they are backing Money and Mental Health’s campaign to ‘Stop the DebtThreats.’ Barclays, Monzo, Nationwide and Metro Bank have joined over 30 charities in calling on the government to change out-of-date rules on debt letters, to make them less intimidating, and more supportive to…
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 2% in August, compared with the same month in 2018, while the value of new business grew by 2% over the same period. The percentage of private…
Read more
New figures released today by the Finance & Leasing Association (FLA) show that the Second charge mortgage market has reported volumes increased by 12% in August. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Acting Director General and Head of Consumer and Mortgage Finance at the Finance &…
Read more
Skipton Building Society and Experian have announced a new partnership with the aim to save mortgage applicants from the hassle of gathering their paper bank statements by adopting Open Banking technology. The new agreement will mean that people applying for a mortgage will have the option of giving consent for Skipton to securely view their…
Read moreNew research from mobile bank N26, to coincide with World Mental Health Day, has revealed that money worries are plaguing the minds of more than 18 million UK adults on a daily basis. This not only causes significant distress among those affected but has resulted in around 9.5 million consumers suffering from mental health issues as…
Read more
New research from Zopa shows that consumers are becoming increasingly confused when picking the best car finance option to fund their purchase. Nearly half (47%) of those who have recently bought a car with finance can’t identify what type of car finance deal they actually signed up for. Zopa’s research estimates that the average car…
Read more
The first biometric fingerprint credit card issued by a UK bank has begun its three-month national trial. NatWest is piloting cutting-edge, biometric fingerprint technology with 150 customers, in partnership with Mastercard and Gemalto, a Thales Company. The bank has previously piloted biometric debit cards, but this will be the first-time credit cards have been issued.…
Read more
The merger between Charter Court Financial Services and OneSavings Bank has been completed. The deal unites the specialist mortgage brands of Kent Reliance and Precise Mortgages however both will continue to operate as separate brands. Charter Court, owner of Precise Mortgages, stakeholders will own 45% of the combined group whilst OneSavings Bank, owner of Kent…
Read more
Poverty is rising for all groups – even those in work – according to a new financial inclusion monitor report. The report from the University of Birmingham and the University of Lincoln shows nearly 1.6 million people falling behind with council tax payments, with six in ten people in the poorest fifth of the population reporting…
Read more
New research has shown that more than half (63%) of UK consumers are worried about contactless fraud. The research, published by IDEX Biotmetrics ASA, revealed that the UK is now ready to welcome more secure payment methods. These methods include biometric payment authentication such as fingerprint scanning and voice recognition. In response to these findings,…
Read more