Credit, Collections & Insolvency News
Bank of Ireland Group has announced the appointment of Francesca McDonagh as Group Chief Executive Officer (CEO). She will succeed Richie Boucher who steps down later this year. Ms McDonagh will also take up the position of Executive Director on the Board of the Group on 2 October 2017. McDonagh joins Bank of Ireland from…
Read moreThe Council of Mortgage Lenders (CML) has published its latest home buyer figures. The highlights of thre report include: Home buyers borrowed £11.2bn, up 24% on February but down 19% on March 2016. This came to 61,700 loans, up 27% on February but down 12% on March 2016. First-time buyers borrowed £4.9bn for home-owner house…
Read moreResearch by L&C Mortgages has revealed that 1.4 million UK households are struggling to pay their mortgage and 2.6 million people think their monthly mortgage payments are too high. Over half (58%) have never remortgaged for a better deal, as highlighted in L&C’s ongoing campaign to get homeowners to save as much as they possibly…
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The number of county court judgments (CCJs) against consumers in England and Wales rose to the highest level in over a decade during the first quarter of the year, according to figures released today by Registry Trust. In Quarter 1 (Q1) 2017, there were 298,901 debt judgments registered against consumers in England and Wales. Rising…
Read moreLatest figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business grew 8% by value and 15% by volume in March, compared with the same month in 2016. Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The second charge mortgage market has faced significant change…
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The Information Commissioner’s Office (ICO) has dealt with record numbers of data protection incidents, nuisance marketing cases and individual complaints. Releasing the ICO’s annual performance statistics for 2016/17, Deputy Commissioner Simon Entwisle revealed that the regulator had received more reported data protection breaches and fined more companies for unlawful activities than ever before. The ICO’s free…
Read moreNew figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in March, compared with the same month last year, and 6% growth in Q1 2017 as a whole. Credit card and personal loan new business together grew in March by 7%, compared with the same month…
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Figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 13% by value and 5% by volume in March, compared with the same month in 2016. In Q1 2017, new business was up 10% by value and 3% by volume,…
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Zopa has been granted full authorisation by the Financial Conduct Authority (FCA) for peer-to-peer lending. Giles Andrews, co-founder and Chairman of Zopa said “Zopa, both individually and as a founder member of the Peer-to-Peer Finance Association (P2PFA), has campaigned for peer-to-peer lending to be a regulated activity for a number of years. We are delighted to…
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The Central Bank of Ireland has published a consultation paper on the investment framework for credit unions. Under existing regulations, credit unions can invest in a range of specified investment classes. These include government securities, bank deposits, bank bonds and collective investment schemes made up of these instruments. These are subject to specified maturity and…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second-charge mortgage repossessions in Quarter 1 2017 was 17 – down by 50% compared with the same quarter in 2016. Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The number of second-charge…
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Target Group, Twenty7Tec and Smart Money have launched a new broker portal aimed at reducing processing times. Smartmoneysourcing.co.uk aims to deliver end-to-end secured loan origination and packaging solution. Smart Money commissioned Target Group to deliver a new web portal solution for its introducing partners to provide access to a wide range of loan products. Target’s…
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Research from Equifax has revealed that 60% of consumers think that fewer than three security steps, including passwords, card readers or letters from a memorable word, are insufficient to assure their bank account is secure and not accessible by other people. The online survey, conducted by YouGov, found just over a fifth of the British…
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