Credit, Collections & Insolvency News
Home improvement finance facilitator Consumer Credit Solutions (CCS) has announced that it has appointed Lewis Jenkinson to provide support to its retail partners and assist with consumer finance compliance. CCS Executive Director, Peter Nicholson, said: “We have always been committed to providing the best possible service to our retail partners, and to ensuring they have…
Read moreMansfield Building Society has announced that it has appointed Paul Lewis as its new National Development Manager. Lewis joins from RBS, where he spent 15 years, most recently working as a senior private banking manager. Previous to that, he spent time at Direct Line Group among other financial services firms. Mansfield Commercial Development Executive Richard…
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Leek United has announced the appointment of Andrew Healy as the Society’s new Chief Executive Officer. Healy, joins Leek United from the largest bank in the Maldives, Bank of Maldives, where he has been CEO and Managing Director since 2014. He brings more than 25 years of experience in financial services to his new role,…
Read moreParagon has appointed Geoff Duncalf as its new National Sales Manager for Motor Finance. Duncalf has joined specialist lender Paragon from Lloyds Banking Group, where he spent eight years, including five years as Senior Account Manager at Black Horse Finance covering the Midlands region. The newly-created role will see Duncalf responsible for leading and developing…
Read moreExperian has announced that rental payment information will appear on credit reports of more than 1.2 million tenants from across the UK. Tenants can see their rental payments on Experian’s CreditExpert and statutory credit reports as part of the Rental Exchange initiative, developed in partnership with the Big Issue Invest, the social investment arm of…
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UK Finance has published its household finance update for September 2018 which reveals that Gross mortgage lending across the residential market in September was £21.5bn, some 1.2 percent lower than last September. The number of mortgages approved by the main high street banks in September was 9.1 percent lower than last September; approvals for house purchase…
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The proportion of landlords looking to remortgage is now at an all-time high according to Paragon’s latest Financial Adviser Confidence Tracking (FACT) Index which has been capturing the experience and views of approximately 200 mortgage intermediaries on the development of the UK mortgage market each quarter since 1995. The latest survey, tracking developments for the third quarter…
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The UK rental market remained in recession during the third quarter of 2018 (Q3 2018) according to the most recent figures from The Deposit Protection Service (The DPS). In the latest edition of its Rent Index, which is based on the organisation’s database of millions of properties across the UK, The DPS reports that average…
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With many headlines sounding the death knell for cash, its popularity and use continues to endure robustly, according to the October 2018 Money Statistics, produced by The Money Charity. Despite reports that the tipping point has been reached, with the UK’s preferred payment methods now being digital, LINK cash machines were used on average 93 times…
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Here is an overview of The Money Charity’s latest statistics for October 2018: Personal debt in the UK People in the UK owed £1.5987 trillion at the end of August 2018. This is up from £1.5544 trillion at the end of August 2017, an extra £849.91 per UK adult and £66.96 higher than the previous month. The average…
Read moreUrgent action is needed to tackle discrimination against benefit claimants by buy-to-let mortgage providers according to the Residential Landlords Association (RLA), following news that a landlord has had her mortgage revoked because she is renting to a benefit claimant. Helena McAleer, a landlord from Northern Ireland, contacted her bank, NatWest after she discovered that the…
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Online research from Equifax, has revealed Brits want lenders to take factors, such as rental payment history, into consideration when it comes to applications for credit. Four in five Brits (80%) think lenders should consider their rental payments when it comes to approval or rejection on credit. The survey, conducted with YouGov, shows nearly half…
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Banks and insurance companies have announced that they will team up to fight cyber-crime by creating a new organisation which will oversee efforts to combat cyber-criminals. The new venture is backed by 20 large banks, insurers and security exchanges. It is scheduled to be launched early next year. Called the Financial Sector Cyber Collaboration Centre (FSCCC), the…
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