Credit, Collections & Insolvency News
New research from Barclaycard Payments, which processes nearly half of the nation’s credit and debit card transactions, has found that two thirds (65 per cent) of UK homes are signed up to regular subscription services, with an average of seven contracts per household. The steady rise in popularity has led over a fifth (22 per…
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The Financial Conduct Authority (FCA) is investigating more than 150 Coronavirus-related scams since the outbreak began, according to official figures. The data, obtained under the Freedom of Information (FOI) Act by the Parliament Street think tank’s cyber research team, reveals the extent to which financial services organisations and banks have been targeted by financial criminals…
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The Government has extended a ban on evictions for another four weeks with a new six month notice period set to be put in place until at least 31st March 2021. The new amendment means that renters affected by coronavirus will continue to be protected after the government extended the ban on evictions for another…
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New Figures from Barclays have shown a surge in fraud cams amid the coronavirus crisis and lockdown, with fraud up 66% in the first six months of the year and climbing a further 5% in July. Barclays found that scams relating to investments were up by 49% last month – the biggest increase the bank’s…
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Cifas, the UK’s leading fraud prevention service, has entered into an innovative new partnership with Mango Solutions to further enhance its intelligence capabilities for members and the wider fraud prevention community. As part of this new partnership, Mango Solutions will help Cifas build and enhance its existing intelligence capabilities, as well as further deepen its…
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Two-fifths (41%) of all equity released in the first half of 2020 was used to pay off debts as older homeowners used their property wealth to retirement-proof their finances, according to new analysis from equity release adviser company, Key. Over 40% of the total amount of new equity released, or £588 million, was used to…
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Specialist mortgage lender, Vida has announced a new partnership with Zoot to develop a digitally focused mortgage journey built around intermediaries. Vida will work with Zoot to build a new end-to-end mortgage platform that brings together key parts of the mortgage journey. The partnership, which is a significant part of Vida’s £5 million investment in…
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Loans Warehouse has announced that it has gained full authorisation from the Financial Conduct Authority (FCA) for Regulated Bridging activity. The approval will enable the company to operate in the regulated bridging market and to further increase its product range and reinforce its reputation as one of the country’s innovative brokerages. Matt Tristram, Co-Founder of…
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New data released by UK Finance has revealed that the final month of full lockdown saw the annual growth rate of outstanding credit card balances fall by 12.6 per cent in the year to May, as consumers continued to pay down their credit card bills. May also saw credit card spending by UK cardholders slowly…
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Non-standard financial services, provider Morses Club has announced that Shelby Finance, the Group’s Digital Division, has entered into a new supplier relationship with digital payments provider Modulr Finance. The relationship relates to the Digital Division’s U Account business, which provides e-money accounts, and replaces the Company’s existing relationship with Wirecard Card Solutions. Modulr’s platform will…
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New research commissioned by GoCompare Money reveals that a third of UK adults are avoiding using cash because of the risk of spreading the Coronavirus. The research found that since the UK went into lockdown, the use of ‘tap and go’ cards and online payments have outstripped the use of bank notes and coins. 27% of those surveyed…
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New research from MoneySuperMarket reveals that graduates are leaving university with additional non-student loan debts worth £3,770 – up £209 on £3,561 in 2019. Following last week’s A-level exam results, for those students who received the required grades for university and start to plan for their academic year, the UK’s leading price comparison spoke to recent graduates…
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Household finances in the UK fell more sharply in August than the previous month after rising levels of unemployment hit average incomes and persuaded millions of families to cut back on spending according to the latest IHS Markit UK household finance index. The finance index was down following steady increases through May, June and July,…
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