Credit, Collections & Insolvency News
New research by Ubamarket has revealed the true extent of the UK’s love-hate relationship with retail loyalty schemes. The white label supermarket app commissioned a survey of more than 2,000 UK adults, uncovering that the majority of consumers (59%) are signed up to at least three different loyalty schemes. Moreover, almost half (46%) of shoppers…
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The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £20.1 billion in May. This is a 12% increase on both April last month and on May last year, in which £17.9 billion was advanced. The CML’s buy-to-let forecast for 2017 and 2018 has been revised down from previous expectations at the end…
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Provident Financial has published its latest financial results and states that a fall in the number of debt collection agents at its home credit division will weigh on profits for the rest of the financial year. The company said a reorganisation of the business had led to a rise in the number of self employed part-time…
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The Credit industry has responded to the Queen’s speech. Here is an overview of the some of the main talking points: Financial Guidance and Claims Bill Citizens Advice Chief Executive Gillian Guy said “The right guidance can be an essential part of a secure financial future. We help people with 1.7 million money queries a…
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Callcredit Information Group has acquired the Spanish Confirma group of companies, comprising Confirma Sistemas and Soluciones Confirma, which specialise in fraud prevention and anti-money laundering (AML) software solutions. The acquisition, sees Callcredit take a majority shareholding in the Madrid- headquartered business. Callcredit entered the Spanish market in 2015 and has been developing its business and…
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Mortgage sales for the UK increased by £3.4 billion in May, up 25.4% on the previous month, according to Equifax Touchstone analysis of the intermediary marketplace. Buy-to-let figures jumped 26.1% (£0.55 billion) to £2.7 billion, with residential up 25.2% (£2.88 billion) to £14.3 billion. Overall, mortgage sales for the month grew to £17.0 billion. Every…
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Home Catalogue Specialist N Brown has announced that it will be closing up to five Simply Be and Jacamo dual-fascia stores. This decision takes into account weak high-street footfall, both current and predicted, together with significant future business rate increases for some stores. Together, these five stores contributed £5million revenue but accounted for the entire £2million…
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Legal & General’s annual Bank of Mum and Dad survey has found that parents unlocking the equity in the family home could help to put nearly 450,000 young people into their first property. The survey found that this year 4% of homeowners over the age of 55 were considering releasing equity from their home. The…
Read moreThe Council of Mortgage Lenders (CML) has published data showing mortgage lending by CML members in 2016. The tables show members’ gross mortgage lending in the latest calendar year and balances outstanding at the end of 2016, rounded to the nearest £100 million and ranked on the same basis. This means that the very smallest…
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Quint Group has reported a record year of growth with a 64 per cent increase in revenue to almost £32m by March 2017. Quint saw its turnover rise from £19.5m to £31.9m in 2016/17, along with an increase in underlying profits of over 250 per cent from £1.6m to £5.9m. Growth has been driven by…
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A TDX Group Consumer Debt Report has revealed that over a quarter (28%) of Brits fear they may not be able to keep up with repayments on their personal debt. The online survey, conducted by YouGov, also found that unsecured debt now tops average monthly earnings¹, with more than one in four (28%) owing in…
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The number of purchases using debit and credit cards has more than doubled in the past 10 years, as contactless payments and online retail have driven a change in the way consumers pay, according to a report from The UK Cards Association. Debit and credit cards were used to make 16.4 billion purchases in 2016,…
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More than half of Scots (51%) say they occasionally run out of money before payday, with 15% saying they do so ‘most of the time’ or ‘always. The figures are part of a new report by Citizens Advice Scotland which aims to take a snapshot of the financial realities facing Scots in 2017, and in particular,…
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