Credit, Collections & Insolvency News
Credit cards are getting more expensive according to new data released by Moneyfacts which revealed that credit card borrowing is rising by around £3 billion year-on-year and £318 million of debt on plastic was written off in the first quarter of 2018. The report says that it is more likely than not that interest rates…
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New research by Santander Mortgages shows that average mortgage repayments are now lower than average rental payments in every region of the UK. Potential first-time buyers would have lower monthly outgoings if they bought a property rather than renting one. The research shows that homeowners could save £2,268 a year if they were able to…
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The Financial Conduct Authority (FCA) has published the latest analysis from its Financial Lives survey. The report found that unsecured debts in rural areas are generally lower with the average amount owed by a town or city resident over a £1,000 more (£3,600) compared with someone in a rural area (£2,510). In rural areas, where…
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95 arrests have been made across Europe following a joint law enforcement operation targeting online fraudsters between 4 and 15 June 2018. The suspects arrested during the operation are believed to be responsible for more than 20,000 fraudulent transactions using compromised credit cards, with an estimated value exceeding EUR 8 million (£7 million). The action…
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Ireland’s Central Bank has published its latest mortgage arrears statistics from Quarter 1 of 2018. Highlights include: The number of mortgage accounts for principal dwelling houses (PDHs) in arrears over 90 days continued to decline in Q1 2018, marking the eighteenth consecutive quarter of a fall in the number of accounts in this category. While the…
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TransUnion has announced that it has completed the acquisition of Callcredit Information Group, for approximately £1 billion $1.4 billion). Founded in 2000, Callcredit is a U.K.-based information solutions company that, like TransUnion, provides data, analytics and technology solutions to help businesses and consumers make informed decisions. Jim Peck, TransUnion’s President and Chief Executive Officer said…
Read moreA new collaborative report, released by Cifas, the UK’s leading fraud prevention service, and Forensic Pathways, highlights that alongside the dark web, the surface web plays an integral role in the selling of personal information. The new research reveals that personal data is being sold on the surface web via forums and is available through…
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Hyundai Motor has found that over a third of Brits don’t now shop around before buying a new car, opting for the first car that they go to see. The research also finds that even though people are viewing fewer cars before making their choice, many will still bring someone with them to help look…
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Almost three-quarters of the nation fear their personal details will be stolen everytime they hand over bank details and email addresses to companies, it has emerged. Two thirds are concerned their data may have been stolen without their knowledge. The general distrust of organisations and web-based stores emerged in a study of 2,000 adults, which…
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CYBG have reached an agreement with Virgin Money to acquire the business confirming a £1.7 billion deal. The agreement will create the UK’s sixth-largest bank. Virgin is the largest shareholder in Virgin Money with a stake of ca. 34.8%. The combination of two of the country’s leading challenger banks will create a powerful competitor to…
Read moreThe popularity of contactless payments, online shopping and smartphones is having a significant effect on how we manage our money and pay for things, leading to debit cards overtaking cash as the most frequently used payment method in the UK, according to the latest research from UK Finance. The latest UK Payment Markets report shows…
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UK Finance has published its latest mortgage trends figures which reveal that there was strong growth in remortgaging in April 2018, with new homeowner mortgages up 36 per cent and buy-to-let remortgages up 32.4 per cent compared to the same month a year earlier. UK Finance has also published a blog analysing the factors driving…
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Yahoo! UK Services Limited has been fined £250,000 by the Information Commissioner’s Office (ICO) following a cyber-attack in November 2014. The incident was publicly disclosed in September 2016, almost two years after it had taken place. Because of when the breach happened, the ICO’s investigation was carried out under the Data Protection Act 1998. The ICO said…
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