Consumer Lending

British Bankers Association (BBA) members vote in favour of trade Association merger

The BBA will now join the Council of Mortgage Lenders, Payments UK and UK Cards Association in a new trade association representing the financial services industry after 94% of its voting membership found in favour of the proposal.

UK North-South home repossessions gap halves in 2015

Last year but Northern towns still make up nine in 10 repossession postcodes, according to research by chartered surveyor, e.surv.

Financial Conduct Authority (FCA) admits it now takes half a year to get authorised

Average processing times for authorising have been increasing over the past year and (as of the end of March) sat at nearly 25 weeks.

Drydensfairfax mortgage administration permissions authorised by the Financial Conduct Authority (FCA)

This means that drydensfairfax is now fully authorised to administer a regulated mortgage contract and offer dual regulated and highly compliant services such as mortgage shortfall recoveri

West Bromwich Mortgage Company loses legal case

West Bromwich Mortgage Company needs to pay more 6,000 landlords around £27.5 million back following a Court of Appeal ruling on raising its tracker mortgage rate.

Money Advice launches Vulnerability Guide advising agencies on treating clients in vulnerable situations fairly.

The Association of Short Term Lenders (ASTL) has announced the date of its fourth annual conference to be held on the 22nd September 2016

David Barral joins Vantage Finance as Chair

Poor Service results in Protest Debt

Research by Echo Managed Services suggests that consumers are purposely withholding payments as a result of poor customer service or billing issues. Full details of the report can be found here.

FCA approved companies announced so far

Here is a list of credit industry companies approved by the Financial Conduct Authority (FCA) announced so far: Agilsys Burlington London House Wrights Recoveries Myjar Debt Managers Allied Credit Management Akinka CCS collect Spratt Endicott CRS Luna Finance Cash on Go/Peachy.co.uk BW legal Trusted Quid Ferrantum Drydens Fairfax Hilton Baird Uncle Buck Cabot Credit Management Face…

UK Asset Resolution (UKAR) agreed to sell a £13 billion asset portfolio

UK Asset Resolution (UKAR) agreed to sell a £13 billion asset portfolio from the legacy book of NRAM (including £12 billion of loans within the Granite securitisation vehicle, plus a further £1billion of non-Granite assets) to Cerberus Capital Management LP.

UK Asset Resolution (UKAR) announces the transfer of its mortgage servicing operations to Computershare

Gross mortgage borrowing of £12 billion in the month was 12% higher than in April 2015

Gross mortgage borrowing of £12 billion in the month was 12% higher than in April 2015.  House purchase approval were 6% lower than in April 2015.