Financial Services

No interest rate change despite Brexit fears

14th July 2016 Consumer Collections |

Bank of England monetary policy committee maintains interest rates at 0.5% for an 88th month.

Home loan hit on the cards as Brexit worries mount

13th July 2016 Consumer Collections |

Lenders are braced for falling demand for mortgage loans following the Brexit vote amid fears over economic uncertainty, the Bank of England said today. Its latest credit conditions review, which includes discussions with major High Street lenders following the referendum, said that banks expect “demand for secured credit” to slide despite little change in the availability of…

US Regulator fines Santander $10million to settle vendor’s overdraft practices

13th July 2016 Consumer Collections |

http://www.cityam.com/245522/santander-bank-fined-10m-us-settle-vendors-overdraft

New Chief Executive appointment at Monmouthshire Building Society

9th July 2016 Consumer Collections |

James Bawa to be appointed as Chief Executive of Monmouthshire Building Society joining fromTeachers Building Society. Current Chief Executive Andrew Lewis will retire later in the year.

Borrowing risks to households following Brexit

7th July 2016 Consumer Collections |

The Bank of England Financial Policy Committee report published its Financial Stability report, which identified “the high level of UK household indebtedness.”

Atom Bank and Phoebus Software agree deal

4th July 2016 Consumer Collections |

Atom Bank agrees 5-year deal Phoebus Software. Phoebus will service across Atom’s secured business lending and accounts propositions for residential portfolios.

One in ten homeowners aged over 55 still have interest-only mortgages

4th July 2016 Consumer Collections |

Research from over-60s property experts Homewise suggests that up to one in ten over-55s homeowners across the UK are still paying interest-only mortgages therefore facing the prospect of clearing their debt when the deal runs out.

1.3 million people helped by the Money Advice Trust in 2015

4th July 2016 Consumer Collections |

The Money Advice Trust t helped 1.3 million people to tackle their debts and manage their money last year.