Credit, Collections & Insolvency News
Hargreaves Lansdown has predicted that inflation is likely to rise slightly when figures are released next week. Inflation is also expected to remain above target for a while yet with investors putting the chances of a rate cut at just 12% next week. Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown said “Inflation…
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New research by Citizens Advice has revealed that 2.6 million people don’t drive because they’re unable to afford the accelerating cost of car insurance. This includes almost 900,000 people who have had to cancel their cover in the last 12 months, in addition to 1.7m people who have already been priced out of the market…
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Close Brothers Motor Finance (CBMF) has announced two senior appointments. Clare Bradley, formerly Director of Sales Optimisation (Retail), has been appointed Commercial Director, and Neil Leonard, formerly Head of Marketing, has been appointed Marketing Director. Bradley, who has been with CBMF for six years, has previously held senior sales and commercial roles in various industries,…
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Aryza Group has announced a partnership with TransUnion. The partnership will leverage the strengths of both companies to offer comprehensive credit and debt management solutions across all Aryza platforms and services in the UK and Ireland, whilst keeping consumer well-being at the heart of decision making. The collaboration is designed to address the growing demand…
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Revolut has announced it has appointed Fiona Fry and Peter Estlin as non-executive directors as it prepares to launch as a fully-fledged bank in the UK. Fry, a qualified chartered accountant, has built a career spanning more than 40 years in professional services. Fiona was a Partner at KPMG for over 23 years, where she…
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Identity fraud continues to grow and now costs the UK an estimated £1.8 billion each year. It is one of the most common case types filed to the Cifa sNational Fraud Database by its 750-plus industry members – accounting for 64% of all filings in 2023 with more than 237,000 identity fraud cases recorded. Industry…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 32% in October 2024 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in October 2024 by 2% compared with the same month in 2023. The corresponding value of new business fell by 1% over the same period. In the ten months to October 2024, new business was 1% lower…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in October 2024 by 2% compared with the same month in 2023. In the ten months to October 2024, new business in this market was 1% higher than in the same period in 2023. The credit card and…
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The British Retail Consortium (BRC) has published its latest BRC Payments Survey which shows a rise in the use of cash for the second year in a row to 19.9% of transactions in 2023 (from 18.8% in 2022). Debit cards remained far and away the most common method of payment, increasing to 62.0% of transactions…
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Support for vulnerable people to access banking, build savings and improve financial resilience were part of discussions after Treasury Minister Tulip Siddiq hosted the first meeting of the new Financial Inclusion Committee. Made up of consumer groups and financial institutions, the focus is on tackling financial exclusion will discuss ways to provide individuals with poor…
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Together has announced the appointment of a new Head of Corporate Portfolio within its corporate real estate lending team. Simon Carrier will lead the team of corporate portfolio directors and managers responsible for managing and nurturing its existing corporate customer relationships, and widening the specialist lender’s network of corporate clients and advisers as it continues…
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New research by CRIF has found that consumers in the UK are the most likely in Europe to demand near-immediate decision-making on services and product applications by banks, insurers and lenders. The data also showed that one in seven Brits now expect financial providers to approve loan applications within minutes (14%) or an hour (16%),…
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