Credit, Collections & Insolvency News
New research by Landbay has found that tenants now spend more than half their income on rent. The Landbay Rental Index, powered by MIAC, found that rental payments now account for over half (52%) of the average take-home pay of £1,471 for people living and working outside the capital. The average rent paid in the UK…
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One in 10 consumers admit they’re bad with money, according to a study. Researchers polled 2,000 UK adults and, despite the age of austerity, found many are ‘blindly’ splashing the cash without any thought for the potential consequences. In fact, around one-fifth of the population went as far to describe themselves as ‘spenders’ rather than…
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New figures released by the Finance & Leasing Association (FLA) shows that growth has continued in the second charge lending market in February, compared with the same month in 2017. Commenting on the February 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 7% by volume and 13% by value in February, compared with the same month in 2017. New business volumes in the POS consumer new car finance market fell by 2%…
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New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in February, compared with the same month last year. Credit card and personal loan new business together grew by 10%, compared with February 2017, while retail store and online credit new business increased by 9% over…
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The UK new car market declined in March, according to figures released by the Society of Motor Manufacturers and Traders (SMMT), with registrations falling 15.7% compared with the same month last year. March 2017 was the biggest month ever for new car registrations, as buyers seized the chance to purchase cars before new Vehicle Excise…
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Following a detailed consultation and analysis, Account in Bankruptcy (AiB) has announced that it is recommending to Scottish Ministers that it introduces the Standard Financial Statement (SFS) for assessing the income and expenditure of debtors from October 2018. The Standard Financial Statement has been introduced across the UK as a unified method for assessing a debtor’s…
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Masthaven Bank has announced the appointment of Alan Margolis as Credit and Operations Director for the short-term lending side of the business. Alan has been appointed to the newly created role as part of Masthaven’s ongoing expansion and brings over 20 years of financial services experience, particularly within the short-term lending sector. Margolis will be involved…
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Ireland’s Central Bank has released its latest money and banking statistics for February 2018. The loan-to-deposit ratio for households stood at 0.90 in February, equalling the previous series low, with household deposits exceeding household loans by 10.2 billion. The decrease in this ratio in recent years has occurred due to deposits reaching near series highs, while…
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The Bank of England has published its latest monthly Money and Credit report showing a slight jump in growth in consumer credit of 9.4 percent in the year to February 2018, up from 9.3 percent in January. Outstanding balances for consumer credit now stand at over £209.4 billion. Joanna Elson OBE, chief executive of the…
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Morses Club has responded to recent reporting on the Home Collected Credit sector calls for the tighter regulation. In a statement Morses said that it offers transparent fixed interest rate products and does not charge its customers any fees or penalties for late payments, ensuring they never pay more than their original agreement, regardless of…
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Rent recognition platform CreditLadde has announced a partnership with Monzo or Starling Bank which enables customers to improve their credit history when paying their rent. CreditLadder have used the Open Banking compliant API which went live earlier this year following their integration with TrueLayer. These two challenger banks join the existing high street banks through which…
Read moreAn Economic Letter by Martina Sherman, Tiernan Heffernan and Bryan Cullen provides, for the first time, comprehensive data on the personal contract plans (PCPs) market in Ireland. The data was compiled following a survey of all lenders in the PCP market by the Central Bank statistics division to provide a reliable data source on the…
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