Credit, Collections & Insolvency News
Peer-to-peer lending platform RateSetter has appointed Joanna Wright as Chief Risk Officer. She will start in the role on 11th September. Wright joins RateSetter from GE Capital where she was Chief Risk Officer for GE Capital Bank in the UK, leading a team of over 200 risk professionals with responsibility for prudential and enterprise risks…
Read moreMortgageGym, the world’s only regulated mortgage robo-adviser, has announced the successful completion of a seed funding round of £2m ahead of its official aunch this summer. The FCA-authorised service, which is set to change the nature of mortgage advice in the UK, will allow homebuyers to complete their mortgage application online in 15 minutes through…
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Bank of Ireland Group has announced the appointment of Francesca McDonagh as Group Chief Executive Officer (CEO). She will succeed Richie Boucher who steps down later this year. Ms McDonagh will also take up the position of Executive Director on the Board of the Group on 2 October 2017. McDonagh joins Bank of Ireland from…
Read moreNon-Standard Finance has announced that Loans at Home, the group’s home-collected credit business, had received its full FCA authorisation. Loans at Home was established in 1938 and occupied the number three position in UK home credit, according to Non-Standard Finance. A Non-Standard Finance statement said “Since acquisition, Loans at Home’s management team has completely revitalised all…
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Paul Smee Director General, at the Council of Mortgage Lenders (CML) will leave his post after the UK Finance merger takes place. Smee said: “I will be moving on at an appropriate moment after the formation of UK Finance. I want the new body to land well.” UK Finance is expected to launch in July.Before joining the…
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Less than half (49%) of consumers regularly change their passwords as a way to prevent fraud, according to research from Callcredit Information Group. Yet, the majority (66%) perceive the risk of identity theft and online fraud as one of their biggest concerns around sharing personal information online. The research, commissioned by Callcredit Information Group as…
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The Council of Mortgage Lenders (CML) has published its latest home buyer figures. The highlights of thre report include: Home buyers borrowed £11.2bn, up 24% on February but down 19% on March 2016. This came to 61,700 loans, up 27% on February but down 12% on March 2016. First-time buyers borrowed £4.9bn for home-owner house…
Read moreAegon has released protection claims statistics that reveal people are likely to be under-protected for the amount of mortgage debt they have. According to figures from The Money Charity, the estimated average outstanding mortgage for the 11.1 million households with mortgage debt in the UK was £119,937 in January 2017. Stephen Crosbie, Protection Director at…
Read moreResearch by L&C Mortgages has revealed that 1.4 million UK households are struggling to pay their mortgage and 2.6 million people think their monthly mortgage payments are too high. Over half (58%) have never remortgaged for a better deal, as highlighted in L&C’s ongoing campaign to get homeowners to save as much as they possibly…
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Equifax and Castlight have formed an alliance with Oakbrook Finance, the owners of consumer loan brand Likely Loans, to develop new products for the 2018 Open Banking initiative. Under Open Banking, bank transaction data will play a crucial role in lending decisions. Lenders will have access to real-time and historic account and transaction information, boosting…
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The Council of Mortgage Lenders (CML) has released its latest member data and shows that the number of outstanding residential interest-only loans has been falling by between 10 and 13 per cent a year since 2012. In the CML survey covers well over 90% of all residential mortgages outstanding, reflecting the industry’s ongoing commitment to…
Read morePeer-to-peer lending platform RateSetter has announced that Paul Manduca has been appointed as Non-Executive Chairman. Manduca will join the Board on 1st June ahead of becoming and will become Chair on 17th July, when current Chairman Alan Hughes’ three-year term expires. Manduca is Chairman of the global FTSE 100 insurer Prudential. His distinguished career in asset…
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The Central Bank of Ireland has released its latest Credit and Debit Card Statistics from Quarter 1 in 2017. Here is an overview of the key statistics in the report Debit card point of sale spending in March increased 14 per cent on the same month in 2016. In March 2017over €2.7 billion of debit card…
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