Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 4% in July, compared with the same month last year. Credit card and personal loan new business together grew by 3% compared with July 2018, while retail store and online credit new business remained stable. Commenting on…
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New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market reported that volumes were up by 23% in July. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said…
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The winners of the third annual 2019 Credit & Collections Technology Awards have been revealed. There were eighteen winners from the twenty Awards categories which are covered by four main headings of Applied Technology, Credit and Collections, Lender and Creditors and Innovation Leaders. The awards ceremony was held at the Credit Services Association’s (CSA) annual…
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The latest Mortgage Lenders and Administrators Statistics from the Bank of England show that the proportion of total loan balances with some arrears has fallen to its lowest level in 12 years. The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage…
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Tesco Personal Finance (Tesco Bank) has confirmed the sale of its mortgage portfolio to Lloyds Banking Group for a cash consideration of c. £3.8 billion. Tesco Bank has over 23,000 mortgage customers. The mortgage portfolio has a lending balance of c.£3.7 billion and generated pre-tax profits of £9.1m in the 2018/19 financial year. As part…
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Here is an overview of The Money Charity’s latest statistics for August 2019: Personal debt in the UK People in the UK owed £1,642 billion at the end of June 2019. This is up from £1,596 billion at the end of June 2018, an extra £887 per UK adult over the year. The average total…
Read moreThe “Bank of Mum and Dad” is now one of the biggest mortgage lenders in the UK, new figures from Legal & General and the Centre for Economics & Business Research claim. Parents will lend as much as £5 billion this year to help their grown-up children get on to the property ladder. The Bank…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in June by 4%, compared with the same month last year. The retail store and online credit sector reported new business up by 3% in June compared with the same month in 2018, while credit card and personal…
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Universal Credit is causing tenants to get behind with their rent according to new research for the Residential Landlords Association (RLA). It reports that 54 per cent of those private landlords who have let to tenants on Universal Credit in the past 12 months have seen them fall into rent arrears. Of these, 82 per…
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Second charge mortgage market reports volumes up by 15% in June according to the latest figures released by the Finance & Leasing Association (FLA). Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second…
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Mortgage holders are spending thousands of pounds unnecessarily on their mortgage through one small oversight according to new research by Comparethemarket. According to the research, homeowners could cash in on significant savings and cut down their mortgage term, simply by making small but regular overpayments to their provider. Homeowners on a fixed rate repayment mortgage…
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Numbers released this morning by the Financial Ombudsman Service (FOS) show that complaints during Q1 of the FOS complaints year (starting 1st April 2019) are down considerably on the same period last year. In the first three months of this financial year, FOS received 136,681 new enquiries and 70,304 new complaints – with 12,538 complaints…
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The amount of people searching for a mortgage who meet the qualifying criteria for every deal on the market is as low as 3.5%, according to new analysis from Experian. One in five (22%) of those using pre-qualification websites to find a mortgage meet the initial qualifying criteria for every lender on the market. But…
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