Credit, Collections & Insolvency News
Almost 80% of mortgage intermediaries expect lending into retirement to be the fastest growing segment in the specialist mortgage market over the next two years according to Paragon’s latest Financial Adviser Confidence Tracking (FACT) Index based on interviews with almost 200 mortgage advisers. Intermediaries say mortgages for the self-employed represent the mainstay of the specialist mortgage market…
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A new report released by the Building Society Association (BSA) has highlighted, how with the right financial support from parents, this type of lending could grow further, without jeopardising the long-term financial well-being of older generations. Recommendations from Building on the Bank of Mum and Dad, report include: More products and innovation: lenders expanding provision, offering…
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Consumers are hiding more than £96 billion of debt from their friends and family, with the average amount of hidden debt in the UK standing at £4,164 per person. These findings come from new research by the Money Advice Service for Talk Money Week – a public awareness campaign held this week (from 12th to 18th November),…
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Latest figures from UK finance show that the mortgage market has softened following period of strong growth. The figures indicate that there were 29,400 new first-time buyer mortgages completed in the month, some 4.5 percent fewer than in the same month a year earlier. The £5.0bn of new lending in the month was the same…
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A new survey of StepChange Debt Charity clients shows the hidden housing problems caused by debt, particularly in the private rented sector. StepChange says these are so complex that the government should review the suitability of the private rented sector for housing vulnerable people. The charity is particularly worried about the position of clients in…
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New research by Experian has revealed that there are 5.8 million people in the UK who are virtually invisible to the financial system, because there is insufficient information available about their financial track record. The campaign which is fronted by British food writer, Jack Monroe aims to raise awareness and educate consumers of the importance…
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One in five (21%) medium-sized businesses in the UK believe that automation will help them compete with larger rivals, according to research from international payments, treasury management and foreign exchange specialist Centtrip. Seen as both a threat and opportunity, automation – the execution of a task or process without human assistance – is having a…
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According to ender Welendus, 15% of short-term loan applications are being made to cover household bills. 42% of loan requests were to pay for surprise bills, Of the 35,000 loans peer-to-peer lender Welendus has received this year, 5,000 have been to meet the cost of regular bills. The FCA-approved ethical lender has revealed that 2,400…
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Today’s school leavers have higher levels of financial literacy than adults aged 19-39, suggesting that financial education in English secondary schools is having a positive impact. The finding comes from free-for-life credit report and score provider Noddle.co.uk, who tested over 1,000 people in England on their personal finance skills with a mock GSCE financial literacy…
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Handelsbanken, the local relationship bank with over 200 branches nationwide, has received banking authorisation for its new UK subsidiary, Handelsbanken plc. Authorisation enables the Bank to enter the final phase of establishing Handelsbanken plc, which it sees as a natural next step in its UK development. Since its UK launch in 1982, the Bank has…
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The Financial Conduct Authority (FCA) has informed Provident Financial that its Home Credit and Satsuma businesses have been fully authorised. Malcolm Le May, Chief Executive Officer of Provident Financial plc said “This is excellent news for our customers and testament to the improvements achieved in Home Credit during the past year from an operational and…
Read moreUK Finance’s latest mortgage arrears and possessions update for the third quarter of 2018 has revealed that there were 77,600 homeowner mortgages in arrears of 2.5 percent or more of the outstanding balance in the third quarter of 2018 showing that arrears remain at a historic low. This is 5 percent fewer than in the…
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New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2018 was 36, 5.9% higher than in the same quarter in 2017. The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q3 2018…
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