Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in February, compared with the same month last year. Credit card and personal loan new business together grew by 10%, compared with February 2017, while retail store and online credit new business increased by 9% over…
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The UK new car market declined in March, according to figures released by the Society of Motor Manufacturers and Traders (SMMT), with registrations falling 15.7% compared with the same month last year. March 2017 was the biggest month ever for new car registrations, as buyers seized the chance to purchase cars before new Vehicle Excise…
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Ireland’s Central Bank has released its latest money and banking statistics for February 2018. The loan-to-deposit ratio for households stood at 0.90 in February, equalling the previous series low, with household deposits exceeding household loans by 10.2 billion. The decrease in this ratio in recent years has occurred due to deposits reaching near series highs, while…
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The Bank of England has published its latest monthly Money and Credit report showing a slight jump in growth in consumer credit of 9.4 percent in the year to February 2018, up from 9.3 percent in January. Outstanding balances for consumer credit now stand at over £209.4 billion. Joanna Elson OBE, chief executive of the…
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Rent recognition platform CreditLadde has announced a partnership with Monzo or Starling Bank which enables customers to improve their credit history when paying their rent. CreditLadder have used the Open Banking compliant API which went live earlier this year following their integration with TrueLayer. These two challenger banks join the existing high street banks through which…
Read moreThe Financial Ombudsman Service has published its latest six-monthly complaints data on individual business and groups today. The data features complaint numbers about banks, insurance companies and other financial businesses received by the ombudsman service between 1 July – 31 December 2017. • 219 businesses feature in the complaints data – down by 11% when compared…
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Credit card debts have surged at the fastest annual rate in 12 years in February. The latest figure from UK Finance shows that consumer spending use of credit cards, with outstanding levels of card borrowing, grew at a rate of 6.3 percent over the year, whilst the use of loans and overdrafts continues to fall.…
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Latest UK Finance lending figures show that gross mortgage lending in February is estimated to have been £19bn, 4.9 percent more than a year ago but below the monthly average of £21.4bn for 2017, The data also shows re-mortgage approvals in the month are up over 9 percent in both number and value compared to…
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New Lloyds Bank analysis shows 3% year-on-year growth in essential spending putting pressure on outgoings with only 35% of working consumers believing they have seen their household income increase over the last 12 months according to the latest Lloyds Bank Spending Power Report. In the monthly Ipsos MORI survey of over 2,000 bank account holders…
Read moreBarclays has announced that it will refund some of its loan and credit card customers in arrears. Barclays says the refund will be given to customers who weren’t provided with adequate service. Financial Conduct Authority (FCA) rules state that if a customer is in default or in arrears difficulties, the lending firm should, where appropriate, inform the customer that free and…
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New figures released by the Finance & Leasing Association (FLA) show growth of 12% in consumer finance new business in January, compared with the same month last year. Credit card and personal loan new business together grew by 12% compared with January 2017, while retail store and online credit new business increased by 13% over…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 7% by volume and 13% by value in January, compared with the same month in 2017. New business volumes in the POS consumer new car finance market fell by 4%…
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New figures released by the Finance & Leasing Association (FLA) show that new business figures for the second charge mortgage market in January continued to show growth. Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported growth in January, with new business up…
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