Credit, Collections & Insolvency News
Mortgage and Loan Provider JustUs has announced the appointment of a new Chief Operating Officer. Mike Moroney JustUs from Santander where he has spent the last nine years supervising financial advisers throughout the North West of England as part of the FCA Senior Manager regime. Moroney is well known to the JustUs team and the mortgage community at…
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Metro Bank has announced that it has completed the purchase of a portfolio of UK mortgages from Cerberus European Residential Holdings for £596.7 million. All lending in the Portfolio is secured on property, well diversified across the UK, and has a similar credit risk profile to Metro Bank’s current mortgage book. The Portfolio consists of…
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The importance of addressing the priority digital collections needs within your business “New and improved” technology is touted as the solution to the collection industry’s growing complexity. But just as endless “improvements” overhyped in grocery products lead to consumer distrust, technology-solution claims deserve a similar sceptical reaction. Consumers and collectors alike would benefit from taking…
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The Central Bank of Ireland has released Ireland’s Money and Banking Statistics for April 2017. Drawdowns of consumer loans exceeded repayments by €158 million in April, the largest monthly increase since January 2011. The new lending largely comprises medium term loans, which typically include car loans, furniture and holiday loans. Here is an overview of the latest…
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The Council of Mortgage Lenders (CML) has estimated that gross mortgage lending reached £18.4 billion in April. This is 11% lower than March’s lending total of £20.7 billion, but is 4% higher than the £17.7 billion lent in April last year. Commenting on market conditions in this month’s market commentary, CML senior economist Mohammad Jamei…
Read moreThe British Bankers Association (BBA) latest high street banking data shows that consumer credit growth was 6.4% in April, compared with 6.1% in the previous month. Gross mortgage borrowing totalled £13.4 billion in April.* Net mortgage borrowing was 2.4% higher than a year ago. Eric Leenders, BBA Managing Director for Retail Banking said “As the…
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Building Societies continued to approve one in three new mortgages across the UK in the first three months of 2017, and to provide a third of loans made to first time buyers according to latest statistics provided by the Building Societies Association (BSA). Gross lending by the sector was down 15% compared to last year…
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The Central Bank of Ireland has published its latest Household Credit Market Report. The report collates information from internal and external sources to give an up-to-date picture of developments in the household credit market in Ireland. The report finds that Irish households continued to reduce their debt-to-income and debt-to-asset ratios during Q4 2016 but indebtedness…
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MortgageGym, the world’s only regulated mortgage robo-adviser, has announced the successful completion of a seed funding round of £2m ahead of its official aunch this summer. The FCA-authorised service, which is set to change the nature of mortgage advice in the UK, will allow homebuyers to complete their mortgage application online in 15 minutes through…
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Paul Smee Director General, at the Council of Mortgage Lenders (CML) will leave his post after the UK Finance merger takes place. Smee said: “I will be moving on at an appropriate moment after the formation of UK Finance. I want the new body to land well.” UK Finance is expected to launch in July.Before joining the…
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The 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 moreAegon has released protection claims statistics that reveal people are likely to be under-protected for the amount of mortgage debt they have. According to figures from The Money Charity, the estimated average outstanding mortgage for the 11.1 million households with mortgage debt in the UK was £119,937 in January 2017. Stephen Crosbie, Protection Director at…
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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