Credit, Collections & Insolvency News
Welcom and guarantor loans provider Buddy Loans has announced a partnership with Buddy to use Welcom’s Financier platform. Buddy Loans has recently secured institutional investment to allow it to increase its lending and has also received full FCA authorisation. Launched in 2013, Buddy Loans specialises in loans which give credit to consumers who have been refused loans…
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Latest UK Finance data shows that lending for house purchase was higher in August 2017 than in both the preceding month and a year earlier. Latest highlights include: First-time buyers borrowed £5 billion, 15% lower than in June but 14% higher than in July 2016. They took out 30,400 mortgages, down 16% on the preceding…
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Research data by Aviva has shown that credit card debt among the over-55s has reached a six year high of £1,052, up 9% since last year and the highest level since Aviva began collecting the data in 2011. The findings come from its latest Real Retirement Report series, which suggests that both secured and unsecured debts are…
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Stafford Railway Building Society has announced the appointment of Michael Smith as its new Chief Executive. Smith is a highly-experienced professional from the banking sector. For the last 13 years, he has worked for the highly successful Swedish Bank Handelsbanken, contributing to the growth of their branch network in the local area. This built on…
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A research report from Equiniti Credit Services depicts a rising market for credit in the UK, with consumer motivations for borrowing split between funding aspirational items such as holidays and household goods (47%), and managing or consolidating existing debt (53%). The report has also identified a stark age group difference in attitudes to technology with…
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KPMG has announced that Justin Benson has been appointed as the firm’s UK Head of Automotive. Benson joined KPMG in 2000 and he is a Director within the firm. He has worked in the automotive sector for over a decade. Having led and worked on a wide range of projects, Justin has a wealth of experience…
Read moreAutomotive technology specialist, Ivendi has appointed Brett Ward to the newly-created position of Head of Online Retailing at iVendi. Ward joins Harwoods Group, where he was Group Marketing Manager. Before this, his roles included regional digital Account Manager at Manheim, and has held positions with several other motor retailers.
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Vanquis Bank is among the latest firms to be fined by the Information Commissioner’s Office (ICO) for sending illegal marketing texts and emails. Vanquis Bank based in Bradford, instigated a campaign to send 870,849 spam text messages and 620,000 spam emails to promote its credit cards. Both the emails and texts broke the law because…
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Mortgage specialist John Charcol has appointed Mark Fleet as its new Chief Executive. Fleet, was formerly James Hay Partnership Chief Commercial Officerand hass also worked at Skipton Building Society in roles including Distribution Director. John Charcol Executive Chairman Ian Darby says: “Mark brings a wealth of experience and a strong understanding of the mortgage market and…
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Latest research from the Joseph Rowntree Foundation (JRF) has highlighted how a benefits freeze will affect families- the majority of which are in work. The freeze is the single biggest policy driver behind the expected rise in poverty by the end of the Parliament. JRF is calling for the Government to target its resources better…
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The latest figures from Finance & Leasing Association (FLA) have shown a continuing growth in second charge mortgages. Commenting on the August 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The second charge mortgage market reported another…
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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 8% in August, compared with the same month in 2016, while the value of new business was up by 2% over the same period. The percentage of…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 4% compared with the same month last year. Credit card and personal loan new business together grew by 4% compared with August 2016, while retail store and online credit new business increased by 7%. Second…
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