Credit, Collections & Insolvency News
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…
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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,…
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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.…
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The latest figures released by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in 2016. New business in December grew by 2% compared with the same month in 2015. Credit card and personal loan new business together grew by 8% in 2016, while retail store and online credit…
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BNP Paribas has named Francois Regnier as it’s new head of its compliance team in the UK. Regnier has worked at BNP Paribas since 2001, according to his LinkedIn profile, most recently serving as its chief operating officer and deputy to Verstraeten. His appointment was announced internally to the bank’s UK compliance department earlier in Januar. Regnier…
Read moreThe number of properties taken into possession last year declined by almost 25%, according to new data from the Council of Mortgage Lenders (CML) Last year’s total of 7,700 cases of possession compared with 10,200 in 2015, and was the lowest number since 1982. Over the course of 2016, the number of mortgages in arrears also fell by 7%. However,…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions was 144 in 2016, almost 37% lower than in 2015. In the final quarter of 2016, the number of repossessions was 39, up by 18% compared with the same quarter in 2015. The rate of second-charge…
Read moreWhich? is calling for the regulator to act on un-arranged overdraft fees after new research finds charges from big high street banks could cost up to 180% of the amount borrowed. The Which? research has found that consumers needing as little as £100 could be charged up to £156 more by some major high street banks…
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Buddy Loans has received full accreditation from the Financial Conduct Authority (FCA), enabling the U.K.’s leading guarantor loan provider to give more consumers access to credit. The Cheadle-based company was set-up in 2013 by entrepreneurs Guy Mackenzie and Nicholas Zapolski, to provide consumers, who have been refused loans from mainstream lenders, with affordable credit. Buddy…
Read moreDanske Bank has revealed its Northern Ireland business saw new mortgage lending approvals grow 96% over the past year. The Northern Irish arm reported a profit before impairments of £91million for the 12 months to the end of December 2016, a 5% increase on 2015. Kevin Kingston, CEO of Danske Bank UK, said it had introduced…
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Ofgem has announced the levels of the prepayment price cap which come into effect this April. The temporary price cap is one of the Competition and Market Authority’s (CMA) remedies resulting from its two year investigation of the energy market. The cap will initially apply to over four million households who prepay for their energy, mostly with…
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