Credit, Collections & Insolvency News
New research by Ubamarket has revealed the true extent of the UK’s love-hate relationship with retail loyalty schemes. The white label supermarket app commissioned a survey of more than 2,000 UK adults, uncovering that the majority of consumers (59%) are signed up to at least three different loyalty schemes. Moreover, almost half (46%) of shoppers…
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The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £20.1 billion in May. This is a 12% increase on both April last month and on May last year, in which £17.9 billion was advanced. The CML’s buy-to-let forecast for 2017 and 2018 has been revised down from previous expectations at the end…
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Provident Financial has published its latest financial results and states that a fall in the number of debt collection agents at its home credit division will weigh on profits for the rest of the financial year. The company said a reorganisation of the business had led to a rise in the number of self employed part-time…
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The Credit industry has responded to the Queen’s speech. Here is an overview of the some of the main talking points: Financial Guidance and Claims Bill Citizens Advice Chief Executive Gillian Guy said “The right guidance can be an essential part of a secure financial future. We help people with 1.7 million money queries a…
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Mortgage sales for the UK increased by £3.4 billion in May, up 25.4% on the previous month, according to Equifax Touchstone analysis of the intermediary marketplace. Buy-to-let figures jumped 26.1% (£0.55 billion) to £2.7 billion, with residential up 25.2% (£2.88 billion) to £14.3 billion. Overall, mortgage sales for the month grew to £17.0 billion. Every…
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Legal & General’s annual Bank of Mum and Dad survey has found that parents unlocking the equity in the family home could help to put nearly 450,000 young people into their first property. The survey found that this year 4% of homeowners over the age of 55 were considering releasing equity from their home. The…
Read moreThe Council of Mortgage Lenders (CML) has published data showing mortgage lending by CML members in 2016. The tables show members’ gross mortgage lending in the latest calendar year and balances outstanding at the end of 2016, rounded to the nearest £100 million and ranked on the same basis. This means that the very smallest…
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Quint Group has reported a record year of growth with a 64 per cent increase in revenue to almost £32m by March 2017. Quint saw its turnover rise from £19.5m to £31.9m in 2016/17, along with an increase in underlying profits of over 250 per cent from £1.6m to £5.9m. Growth has been driven by…
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Here is an overview of The Money Charity’s latest statistics for June 2017: Personal debt in the UK People in the UK owed £1.532 trillion at the end of April 2017. This is up from £1.485 trillion at the end of April 2016 – an extra £886.84 per UK adult Per adult in the UK…
Read moreThe Financial Ombudsman Service (FOS) has published it’s annual Complaints report which indicates a continued rise in complaints about payday loan companies. FOS said there were 10,529 complaints about payday loan companies in 2016/17. This is more than a three-fold increase since the 3,216 complaints in 2015/16. Complaints about consumer credit rose by 89%. 25,984 complaints…
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Callcredit is partnering with specialist business consultancy, Ctrl-Shift, to interrogate the shifting dynamics in the personal information economy. The collaboration will look to combine Ctrl-Shift’s proven experience and knowledge base with Callcredit’s pedigree in innovation in data application, to explore and highlight practical ways businesses can thrive in a rapidly changing data economy. The announcement…
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UK household spending has fallen for the first time since 2013. Kevin Jenkins, UK & Ireland Managing Director at Visa said “Consumer spending fell for the first time in nearly four years in May, following some marked slowdowns in growth since the beginning of the year. Our Index clearly shows that with rising prices and stalling…
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The Second charge mortgage market saw further growth in April. Commenting on the April 2017 new business figures Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said This is a strong performance compared with the same month last year, but it’s important to remember that some of the…
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