Credit, Collections & Insolvency News
A third of Brits believe their partner is lying to them about how much money they spend. According to a survey conducted by Paymentsense on 2000 people in a relationship in the UK, people aren’t always honest to their partners about their spending habits. 40% of women admit to lying to their partner about what they…
Read more
Credit broker Digitonomy Ltd has been fined £120,000 by the Information Commissioner’s Office (ICO) for being responsible for millions of marketing texts sent without proper consent. Between April 2015 and February 2016 there were 1,464 complaints about the spam messages which encouraged people to apply for loans and directed them to company websites. An ICO investigation revealed…
Read moreSome doorstep lenders are taking advantage of their position and putting people at risk of serious debt problems, Citizens Advice warns. A new report published by the charity today has identified a number of concerning practices by some doorstep lenders. The evidence, submitted to the Financial Conduct Authority today as part of its review into…
Read more
New data released from the Council of Mortgage Lenders (CML) has revealed house purchase activity increased month-on-month and year-on-year but remortgage and buy-to-let levels decreased. Paul Smee, director general of the CML said “2016 could have been a potentially destabilising year of regulatory and political change, but the mortgage market has been resilient and adaptable.…
Read more
Jaywing has announced a new partnership with West Bromwich Building Society to develop IFRS 9 and stress testing models as part of an integrated modelling programme that will underpin all regulatory modelling requirements.. One of the biggest challenges faced by lenders today is implementing a solution to IFRS 9 requirements that is proportionate to the…
Read moreThe Financial Conduct Authority (FCA) has issued a warning over an unauthorised personal loans provider called Jazz Loans. The FCA warning statement said “We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to…
Read more
Online research from Equifax, has revealed that 50% of consumers don’t want to spend more than 20 minutes completing the process. The survey, conducted by YouGov, also found that after submitting an application for a financial product online, many consumers expect an immediate decision on whether they have been approved for short term loans (34%),…
Read more
A fifth of UK consumers choose everyday service providers – such as mobile phone, utilities and broadband companies – solely based on the perks and benefits they offer, according to new research from Echo Managed Services. The research, based on a nationally-representative sample of 1,000 UK adults, revealed that a quarter of all consumers are significantly…
Read more
Building societies provided almost one in three mortgages approved in the final quarter of 2016. Collectively they approved 109,543 new mortgage loans, up 7% on the same period in 2015. Consumers saved less in Q4 than they did the Lending in 2016 as a whole was higher than in 2015 with mortgage approvals up by…
Read more
Starling Bank, has signed a four year contract with Callcredit Information Group for decisioning and customer management solutions. The DecisionStrategy platform, the solution will provide multi-bureau credit decisioning and identity verification capability, helping Starling Bank to make informed decisions on an individual and quickly on-board customers with confidence. Callcredit will also be helping the app only bank,…
Read more
Furness Building Society has appointed Matthew Dobson as it’s new Finance Director. Dobson joins from Williams & Glyn and has 15 years of experience in the banking industry – joins the building society having previously held senior roles at Barclays before moving to Williams & Glyn Treasury. Colin Millar Chairman at Furness Building Society, said ”…
Read moreBob Wigley has been announced as the chair of the new integrated trade association called Financial Services Trade Association, which will bring together six member organisations operating across a wide range of financial services in the UK. The six trade associations which are set to merge are: The Asset Based Finance Association (ABFA) British Bankers’…
Read moreThe latest released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015.…
Read more