Interbridge Mortgages launches second charge mortgages

17th May 2024 Consumer Lending | #lender

New second charge lender Interbridge Mortgages has announced its entry into the UK lending arena. The second charge specialist will provide secured loans in England, Scotland and Wales through a panel of specialist broker partners. Its market leading technology will provide a paperless application journey and this, supported by specialist underwriting expertise, will drive its…

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Landlords selling up is biggest threat to renters

16th May 2024 Consumer Lending | #rent

Landlords selling properties represent the single biggest threat to renters according to latest government data. Among households eligible for support from their council to prevent homelessness following the end of a private rented tenancy agreement, 45 per cent needed help because their landlord planned to sell the property in the second half of 2023. This…

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TransUnion appoints Chief Data and Analytics Officer

16th May 2024 Appointments |

TransUnion has announced that it has appointed Praneeth Meka as its new Chief Data and Analytics Officer for the United Kingdom and Europe. The appointment sees the business combine data asset management and data science and analytics leadership into one leadership role for the first time. Joining the executive with his appointment to the Chief…

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Average card rates have risen by 4.75% in the last 10 years

New TotallyMoney research has highlighted the rise of credit and debit card interest rates, and found that over the past 10 years, the Bank of England base rate increased by 4.75 percentage points, yet the average card rate has rose by 6.9 percentage points with one lender hiking theirs by 11 percentage points and that…

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32,000 homes face repossession risk 

New research by Mojo Mortgages has found that 32,000 mortgaged properties at risk of being repossessed. The research also found that there were 96,580 homeowner mortgages in arrears of 2.5% or more of the outstanding balance, representing a 3% increase from the previous quarter.  Within this group, 32,470 mortgages were in the most severe bracket,…

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Half of renters don’t have contents insurance

Almost half of renters in the UK (49%) do not have a contents insurance policy, according to new research from Compare the Market. In comparison, only 11% of homeowners don’t have contents cover. The main reason renters don’t have contents insurance is to save money, due to their other living costs (30%). Other reasons include…

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Evolution Funding to acquire Creditas Financial Solutions

Evolution Funding has exchanged contracts to acquire motor finance broker Creditas Financial Solutions, subject to FCA approval. Founded in 2007 by Andy Shaw and headquartered in Leeds, Creditas employs 60 staff and oversees four Appointed Representatives. Taking an innovative go-to-market approach, Creditas has leveraged commercial advantage and market share by uniquely championing an appointed representative…

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Consumer car finance new business fall by 7%

15th May 2024 Consumer Lending | #car finance

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in March 2024 by 7% compared with the same month in 2023. The corresponding value of new business was 5% lower over the same period.  In Q1 2024 as a whole, new business by value and…

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Consumer finance fell by 4% in March

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in March 2024 by 4% compared with the same month in 2023.  In Q1 2024 as a whole, new business in this market was at a similar level to Q1 2023. The credit card and personal loans sectors…

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Compare the Market announces Money team appointments

15th May 2024 Appointments |

Compare the Market has announced several new appointments to its Money team, as the much-loved price comparison website continues to expand its choice for customers. Andy Hancock joined the business in January as Chief Growth Officer to focus on increasing the range of products available to help customers make better financial decisions. Since then, with…

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Half of young parents can’t afford to have more children

Half (49%) of younger parents aged 18-34 have decided to not to have another child as it has become too expensive due to the rising cost of living according to research from Creditspring. Younger couples who were planning on starting a family have also been forced to change their plans due to the financial climate.…

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Mortgage lending set to double in 2025

Mortgage lending growth is set to more than double in 2025, according to analysis by the EY Item Club. While the analysis predicts that lending will climb by just 1.5% this year, it anticipates growth of 3.2% in 2025 and 3% in 2026, with this expected to be driven by falling inflation and lower interest…

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Two in five retirees have retirement regrets

8th May 2024 Consumer Lending | #retirement

Two in five (40%) of the retired population in the UK have some form of retirement regret according to research by Canada Life. Canada Life asked current retirees if they would do anything differently in how they approached their retirements, and two in five (40%) said they would have done. Almost one in five retirees…

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