Credit, Collections & Insolvency News
New research by Landbay has found that tenants now spend more than half their income on rent. The Landbay Rental Index, powered by MIAC, found that rental payments now account for over half (52%) of the average take-home pay of £1,471 for people living and working outside the capital. The average rent paid in the UK…
Read more
New figures released by the Finance & Leasing Association (FLA) shows that growth has continued in the second charge lending market in February, compared with the same month in 2017. Commenting on the February 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance…
Read more
New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in February, compared with the same month last year. Credit card and personal loan new business together grew by 10%, compared with February 2017, while retail store and online credit new business increased by 9% over…
Read more
Following a detailed consultation and analysis, Account in Bankruptcy (AiB) has announced that it is recommending to Scottish Ministers that it introduces the Standard Financial Statement (SFS) for assessing the income and expenditure of debtors from October 2018. The Standard Financial Statement has been introduced across the UK as a unified method for assessing a debtor’s…
Read more
Rent recognition platform CreditLadde has announced a partnership with Monzo or Starling Bank which enables customers to improve their credit history when paying their rent. CreditLadder have used the Open Banking compliant API which went live earlier this year following their integration with TrueLayer. These two challenger banks join the existing high street banks through which…
Read moreLatest UK Finance lending figures show that gross mortgage lending in February is estimated to have been £19bn, 4.9 percent more than a year ago but below the monthly average of £21.4bn for 2017, The data also shows re-mortgage approvals in the month are up over 9 percent in both number and value compared to…
Read more
New figures released by the Finance & Leasing Association (FLA) show that new business figures for the second charge mortgage market in January continued to show growth. Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported growth in January, with new business up…
Read more
Research by GoCompare finds that 80% of UK consumers now receive at least one financial service and utility bill or statement electronically 4 out of 5 (80%) UK consumers now receive at least one paperless bill or statement for a financial product or utility, new research from GoCompare has found. However, the result for many…
Read more
Here is an overview of The Money Charity’s latest statistics for March 2018: Personal debt in the UK People in the UK owed £1.576 trillion at the end of January 2018. This is up from £1.52 trillion at the end of January 2017– an extra £1,077.51 per UK adult. Per adult in the UK that’s an average debt…
Read moreThe Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is to host the Credit and Collections Technology Awards at this year’s CSA Gala Dinner on 13 September. The co-branded event, which will form part of the CSA’s UK Credit and Collections Conference (UKCCC), reflects the Association’s growing recognition…
Read more
The number of remortgages in January 2018 reached a nine-year high while the number of first-time buyers and home movers both increased compared to the same period in the previous year, UK Finance’s latest mortgage trends update reveals. There were 49,800 new homeowner remortgages completed in January 2018, some 19.1 percent more than in the…
Read more
The latest mortgage lending statistics have been published by the Bank of England. The statistics show that new residential mortgage lending activity decreased in Q4 2017 from the previous quarter. In total, £69.1 billion of new residential loans were advanced to individuals during the quarter. This was a 2.5% decrease compared to the previous quarter,…
Read more
There were more County Court Judgments (CCJs) against consumers in England and Wales during 2017 than any other year since current records began in 2005, according to figures released today by Registry Trust. In 2017, 1,138,058 judgments were registered against consumers in England and Wales. Rising almost a quarter on 2016, the total number of…
Read more