Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market saw an 11% increase in September Commenting on the September 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “In September,…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 16% in September, compared with the same month in 2017, and the value of new business was 14% lower over the same period. In Q3 2018 overall,…
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New figures released by the Finance & Leasing Association (FLA) show consumer finance new business fell by 1% in September, compared with the same month last year. In Q3 2018, new business grew by 5% compared with the same quarter in 2017. In September, credit card and personal loan new business together grew by 4%…
Read moreThe interim findings of the Financial Conduct Authority’s (FCA) Mortgage Market Study have highlighted the challenge of mortgage prisoners. In addition, the report says long-term and lifetime lending is another concern and that the FCA is looking to firms to use their common sense to make sure they’re matching the right products to the right…
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Despite the common assumption that the younger generation is more tech-literate, three in 10 (31%) 16-24-year olds have been a victim of online shopping fraud, compared with only 12% of over 55s according to Shieldpay, the secure payments provider. Younger victims of online fraud are also facing more significant losses compared to older victims. Those…
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The UK has a 19.8 Billion monthly online shopping habit, with experts revealing the true amount we now shell out, on everything from groceries to cars and even “adult” products. New research of the nation has revealed the average Briton now forks out an incredible £300 per month on online purchases, with Saturday at 10.20am…
Read moreAlmost one-fifth of consumers (19%) would never inform a partner of their debt situation, according to new research by Equifax. The survey conducted online with Gorkana, found those aged 65 and over (29%) are almost twice as likely as those aged 18-24 and 35-44 (both 12%) not to reveal their debt to their significant other.…
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The government and the Competitions and Markets Authority (CMA) are to undertake pioneering new research into the practice of retailers targeting online shoppers and charging people different prices for the same items through personalised pricing, such as holidays, cars and household goods. Personalised pricing involves customers spending different amounts when searching for the same products,…
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Provident Financial has announced the appointment of Simon Thomas as Chief Finance Officer. Thomas will join the board and start as Chief Finance Officer on the 3rd December 2018. Andrew Fisher, the current Finance Director will step down from the Provident Financial board when Thomas takes up his appointment, but will remain employed by the company…
Read moreExperian has announced that it is launching a new range of services to help lenders evolve their approach to making consumer credit decisions, so businesses can make more informed decisions and deliver fairer, more affordable outcomes for their customers. The service is called Experian Credit 3D. Experian says knowing a consumer’s credit information at a single…
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TransUnion, the global risk and information solutions provider, has announced it has an agreement to sell its Noddle business, the UK-based free-for-life credit reporting and monitoring service, to Credit Karma. TransUnion acquired Noddle earlier this year as part of its acquisition of Callcredit, the second largest credit reference agency in the UK. John Danaher, TransUnion’s…
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Household energy debt has soared by a quarter (24%) compared to this time last year with research showing that three million households collectively owe nearly £400 million to their energy supplier at the start of autumn, according to uSwitch.com. At a time when they would expect to be in credit, more than one in ten energy bill…
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Vanquis Bank has announced its Managing Director will step down. In a statement, the company said that the Board of Vanquis Bank announces that Chris Sweeney, Managing Director, Vanquis Bank will from today step down from his role and also the Board of Vanquis Bank. Sweeney will remain employed by Provident Financial Group until the end…
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