Credit, Collections & Insolvency News
Paragon Bank has announced that it has strengthened its mortgages division with the appointment of Simon Glass as Head of Mortgage Operations. Glass will head up Paragon Bank’s operations team with a focus on delivering good customer outcomes, reporting into Mortgage Lending Director, Lisa Steele. He leads Paragon’s buy-to-let underwriting, completions and customer relationship teams…
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The Prudential Regulation Authority (PRA) has announced that the amount of a customer’s money protected if a UK bank or building society or Credit Union becomes insolvent will rise to £120,000 from December 2025. This increases the limit from the current £85,000 which was set in 2017. It is also more than the previous PRA…
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New data from Moneysupermarket has found that 94% of people don’t realise that ex-housemates could be impacting their credit score. Teh dat found that 79% of people having lived with a flatmate, 94% remain unaware that joint financial products – like shared bank accounts or bills – can directly link their credit score to a…
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A new report by Experian and Cifas has revealed a 9% rise in identity fraud, signalling the significant scale of fraud facing UK businesses as the festive season approaches. The data also highlights the new tactics criminals are deploying to exploit people and their personal information, and the steps businesses can take to protect themselves…
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SME lender and broker, Love Finance has announced the hiring of Selen Cagirgan as its new Head of Credit and Risk. Cagirgan will lead Love Finance’s underwriting, credit, and risk operations across its lending division. In her new role, she will be responsible for shaping the company’s credit strategy, strengthening risk controls, and developing scalable frameworks to support sustainable…
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Research by Aviva and Age UK has found that mid-retirees are navigating retirement without the financial support or guidance they may need as they get older. The report showed that almost two thirds (64%) of mid-retirees admit they have not spoken with family or friends about managing their financial affairs, should they become unable to…
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Specialist lender Afin Bank has announced that Sally Veitch has joined the board as an Independent Non-Executive Director (INED). Veitch has a wealth of experience in financial services, including current Board positions with SME lender LHV Bank and mortgage provider Perenna. She previously had NED roles with Tipton & Coseley Building Society, Redwood Bank and…
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Contracts for Difference (CFD) providers have been warned by the Financial Conduct Authority (FCA) to provide fair value, after its review found some firms had not risen to the Consumer Duty. Introduced in July 2023, the duty set a higher standard for consumer protection in financial services. The FCA says that good practice was in…
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New research by Canada Life has found that despite being the demographic most likely to have built up significant assets the data shows that one in four (27%) over 55s have no will in place, leaving millions exposed to potential probate complications and unexpected inheritance tax bills. When asked why they have not yet written a…
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Interest-free car repair financing platform Bumper International has announced that it has received Financial Conduct Authority (FCA) authorisation with permissions for consumer credit lending in the UK. The authorisation represents a major milestone for Bumper as it expands its mission to make car ownership more flexible and affordable, enabling the development of longer-term credit products…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in September 2025 by 8% compared with the same month in 2024. In the nine months to September 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in September 2025 by 5% compared with the same month in 2024. The corresponding value of new business was 9% higher over the same period. In the nine months to September 2025, new business volumes grew…
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A cross-party committee of MPs has launched an enquiry into the pre-pension income gap ahead of the impending State Pension age increase to 67. The enquiry found that 60-64 year-olds are the joint poorest age group among working-age adults aged 25 and over, as some people leave work early to care for partners or on…
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