Credit, Collections & Insolvency News
Masthaven has announced it has appointed two new underwriting managers to join its first and second charge mortgage teams Daniel Miller has been recruited as underwriting manager for the bank’s second charge mortgage team and arrives after holding a similar role within the market at Prestige Finance. Jason Finch has been appointed to Masthaven’s first…
Read moreAldermore has announced the appointment of Rebecca Bunyan as Chief Information Officer (CIO). In her new role as CIO, Bunyan is responsible for the Bank’s technical infrastructure, IT operational excellence and superior delivery capability. Prior to joining Aldermore, Bunyan held a Group Operating Officer role within the insurtech industry and was accountable for software development and…
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Banks and financial institutions must change the way they operate to give customers with mental health problems equal access to good customer service, a leading mental health think tank has urged. New research fully demonstrates for the first time how financial capability – people’s ability to manage everyday financial tasks like paying bills or budgeting –…
Read moreHSBC has voluntarily agreed to set up a redress scheme for customers who may have suffered detriment by paying an unreasonable debt collection charge imposed by HFC Bank Ltd (HFC) and John Lewis Financial Services Limited (JLFS), the Financial Conduct Authority (FCA) has announced today. Both HFC and JLFS are now part of HSBC Bank…
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Here is an overview of The Money Charity’s latest statistics for January 2017: Personal debt in the UK People in the UK owed £1.512 trillion at the end of November 2016. This is up from £1.460 trillion at the end of November 2015 – an extra £1017.04 per UK adult. Based on November 2016 trends,…
Read moreThe Money Charity has released it’s latest monthly statistics with it’s research revealing that each Briton is spending, on average, £1001 a year on debt interest repayments, 3.79% of average earnings. That is more than £50 billion at an annual rate – the lowest figure seen since 2003. Debt might have grown to a record 12…
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As part of Provident Financial Group results, the Vanquis Bank division has revealed a 9% rise in customer growth. Here is an overview of the Group’s results on trading for the financial year ended 31 December 2016, ahead of its preliminary results for the year which will be announced on 28 February 2017. Vanquis Bank: delivered fourth…
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A quarter of all card transactions are now made via contactless, new figures from The UK Cards Association show. 325 million purchases were made using contactless debit and credit cards in November 2016, accounting for 25 per cent of all card payments in the month. The rise in contactless payments led to a record £2.9 billion…
Read moreThe Bank of England has released it’s latest Credit Conditions results. This quarterly survey of bank and building society lenders is an input to this work. Lenders are asked about the past three months and the coming three months. The survey covers secured and unsecured lending to households; and lending to non-financial corporations, small businesses, and…
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New figures released today 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 7% by volume in November, compared with the same month in 2015. The percentage of private new car sales financed by FLA members through…
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New figures released today by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in November, compared with the same month in 2015. Credit card and personal loan new business together grew by 10% compared with November 2015, while retail store and online credit new business increased by 3%…
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Irish bank KBC has sold loans to credit-servicing and debt-collection firm Cabot Financial Ireland. The sale of the KBC portfolio is understood to involve more than 100 loans – most of which related to buy-to-let properties that have been sold – with money is still owned on the original mortgages. The sale comes weeks before…
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Aldermore has announced the appointment of Petrina Oliver as the Head of Enterprise Risk. Oliver, has over 20 years of banking experience, including 13 years in financial services risk management. She joins Aldermore from Royal Bank of Scotland where she has worked since 2010, most recently as Head of Prudential Regulation & Frameworks, Risk Analytics…
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