Credit, Collections & Insolvency News
Specialist lender Together has announced the appointment of two new Business Development Managers. Ian Hoggart and Martin Bloe will both be bolstering the group’s regional teams and increasing its footprint across Scotland and South Wales. Their remit will include supporting their existing partners and developing new relationships with brokers, helping to find solutions for their…
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LiveMore, a provider of interest-only mortgages to the over 50s, has announced that it has appointed Phil Quinn as its Head of Intermediary Sales as it restructures for future growth. Quinn joins from Together, where he has been the head of national accounts since 2020. In a career that spans 12 years in the mortgage…
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A survey of thousands of individuals and small businesses has indicated how well banks are looking after their customers as people face the rising cost of living. The latest independent results from large scale surveys ranking the service quality of personal and business current account providers in Great Britain and Northern Ireland are available via…
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Consumer card spending grew 7.7 per cent in July compared to the same period in 2021, and 1.6 per cent compared to June 2022, as consumers spent more on clothing, beauty and staycations as the summer holiday period began according to new analysis by Barclaycard. The analysis also highlighted that consumers are starting to cut…
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The latest Bank of England figure has revealed that quoted household interest rates on credit cards rose significantly in July and are now at their highest level in nearly two and a half decades. New analysis from Freedom Finance has found that average credit card rates jumped 0.23 percentage points from June to hit 21.66%…
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New data from specialist lender Hodge has found the average age of its 50+ mortgage customer has dropped by eight years since 2017. Analysing data from the past five years, the lender found since 2017 the average age of its 50+ mortgage customer has dropped from 73 to just 65 in 2022. Hodge also saw…
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A new study from Juniper Research has predicted that the number of BNPL (Buy Now Pay Later) users will surpass 900 million globally by 2027, increasing from 360 million in 2022. The research says that the substantial growth of 157% will be driven by the anticipated economic downturn, which will increase the demand for low-cost…
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The Financial Conduct Authority (FCA) has appointed Ruairi O’Connell, OBE, as the new Director of International. O’Connell will join the FCA from the Home Office where he is Director, International. Ruairi has extensive experience in both the Home Office and the Foreign Office, including as British Ambassador to Kosovo. He will be responsible for helping…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in June 2022 by 12% compared with the same month in 2021. The corresponding value of new business decreased by 6% over the same period. In the first half of 2022, new business volumes were 6%…
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Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 7% in June 2022 compared with the same month in 2021. In the first half of 2022, new business was 24% higher than in the same period in 2021. The credit card and personal loan sectors together…
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More than £800 billion of equity was available for release in UK homes in Q2 2022, an increase of over £25.6bn in three months and the first time it has exceeded this milestone according to the latest Halifax quarterly regional house price index and analysed by Canada Life. The figures reveal that the total amount…
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With the Bank of England Monetary Policy Committee confirming its base rate will rise by 0.5% to 1.75%, research from international audit, tax and advisory firm Mazars shows UK households face an immediate increase in interest payments of £1.67bn. Analysis of Bank of England data by Mazars shows UK households are currently paying £24.1 billion annually in…
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The Bank of England (BOE) has raised interest rates by 0.5 percentage points to 1.75%, the biggest rate rise in 14 years. The increase is the biggest increase in 27 years, with a prediction that inflation would hit 13% by the end of the year. It was the sixth consecutive raise and the biggest single…
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