Credit, Collections & Insolvency News
Over half (55%) of corporate business teams have increased the size of their compliance teams in response to the mounting regulatory pressures that have emerged over the last five years, according to a new study commissioned by Intertrust, a global service providing expert administrative services to clients operating and investing in the international business environment.…
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New research from innovative equity release lender more 2 life has revealed that nearly a third (28%) of adult children (aged 30-55) have never discussed their parents’ financial circumstances as a family. These people describe their family as being ‘very private’ about their personal finances, suggesting that money matters are rarely or never discussed as a family.…
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New figures released by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market fell by 1% in November, compared with the same month in 2017. The percentage of private new car sales financed by FLA members through the POS was 91.2% in the twelve months to November.…
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The Financial Conduct Authority (FCA) has revealed plans to free ‘mortgage prisoners.’ Mortgage prisoners are defined by around 140,000 homeowners are trapped on loans with high interest rates. The plans were revealed by the FCA’s Chief Executive Andrew Bailey’s letter to the Treasury Committee on improving switching options for mortgage customers who are currently unable to do so,…
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TSB has announced a new £200,000 partnership with the Metropolitan Police (Met) to step up the fight against fraud and hunt down the criminals that sit behind it. Fraud is now one of the most common crimes in the UK and the financial impact to consumers is huge with over £2 million lost every day^.…
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A new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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Newcastle Building Society has appointed David Samper as Chief Financial Officer. An accomplished strategic leader with over 20 years’ experience as a chartered accountant, Samper has held senior roles across a number of multinational organisations in the UK and abroad, including RBS, Ulster Bank, and most recently at Sainsbury’s Bank as its interim Chief Financial…
Read moreUnsecured debt has hit a new peak of £15,400 per household according to new analysis by the Trade Union Congress (TUC) with a further threat of families being pushed further into the red, Debt levels are now higher than before financial crash. The new analysis by the TUC shows that household debt rose sharply over 2018, with…
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Data from the latest report from the Bank of England data shows that the annual growth rate of consumer credit slowed in November 2018, but credit card lending was still 7.9% higher than a year earlier, with other consumer credit lending up by 6.6%. Commenting on the latest figures, StepChange Debt Charity CEO Phil Andrew…
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As half-season tickets go on sale, football fans are being warned about the massive gulf in rates charged on loans by clubs. Depending on who you support, you may have to pay up to 36.3% APR to watch your favourite team play. These findings come from research by free-for-life credit report provider Noddle.co.uk – who…
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UK Finance has published its latest Household Finance Update for November 2018 which has revealed that £11.3bn of credit card spending in November was 7.5 per cent higher than November 2017. Over the past twelve months, the outstanding level of credit card borrowing grew by 5.3 per cent. Personal borrowing through loans and overdrafts grew…
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omputershare Loan Services has launched Zephyr Homeloans: a dedicated buy-to-let lender that provides a range of mortgage products for professional portfolio landlords and other specialist property investors. The underlying funding is arranged separately. Computershare says that Zephyr aims to support intermediaries by offering proactive guidance and providing mortgage solutions that will help them meet the…
Read moreThe Competition and Markets Authority (CMA) has announced a package of reforms to tackle the substantial loyalty penalty impacting millions of people. The CMA has investigated concerns raised by Citizens Advice in a ‘super-complaint’, that companies penalise existing customers by charging them higher prices than new customers. The CMA has looked at the 5 markets…
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