Credit, Collections & Insolvency News
Online shoppers are being bombarded with Buy Now Pay Later (BNPL) payment options at the checkout, often with little or no information about late fees, credit checks and the risk of falling into debt, a Which? investigation of more than 100 major retailers has found. Which? looked at 111 of the biggest online retailers in…
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New figures released today from Experian have found that mortgage application volumes are up 17% in September this year, when comparing figures to those in September 20191 before the stamp duty holiday2 was in effect). The younger age demographics are fueling these figures, with average daily mortgage applications up 20% for those in their 30s.…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 13% in August 2021 compared with the same month in 2020. In the eight months to August 2021, new business remained 15% higher than in the same period in 2020. The retail store and online credit sector…
Read moreResearch by Buy Now Pay Later (BNPL) platform Butter, has found that the majority of UK consumers would like to see the option to spread the cost of purchase become more widely available. BNPL enables consumers to buy products while deferring the payment for a later date, often repayable in monthly instalments. In Butter’s case,…
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The Online Lending Technology Think Tank has confirmed its agenda and speaker line-up ahead of the second event next Tuesday (12th October). The Online Lending Technology Think Tank is an online event platform so that lending and creditor professionals can specifically discuss the role of the technology as we potentially emerge from the pandemic, adjusting…
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Latest Bank of England data has shown that net mortgage lending increased by £5.293 billion in August, bouncing back from July’s net repayment of £1.758 billion. Gross mortgage lending increased to £21.5 billion, recovering from a low seen in July when lending came in at £16.6 billion. Meanwhile, mortgage approvals fell to the lowest level…
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A new study by KIS Finance has revealed that 73.1% of people want the option to set their own contactless limit. From 15th October 2021, the limit for contactless payments will increase from £45 to £100 per transaction. The Chancellor, Rishi Sunak, has stated that this “will make it easier than ever to pay safely and…
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A new Credit & Technology Think Tank has been launched by Credit Connect Media. The event will examine credit and collections technology strategies to increase effectiveness and efficiency as we emerge from the worst impact of the pandemic. The inaugural Credit & Collections Technology Think Tank powered by Credit Connect will take place on Thursday…
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Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in July 2021 compared with the same month in 2020. In the first seven months of 2021, new business was 15% higher than in the same period in 2020. The retail store and online credit sector…
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Two energy companies, PfP and Moneyplus who had nearly 94,000 customers between them, have cease trading as energy prices have reached record highs. PfP has left 80,000 domestic customers, and 5,000 non-domestic customers without an energy supplier, and MoneyPlus has left about 9,000 domestic customers. Industry regulator, Ofgem, will choose a new supplier for all…
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The Online Collections Technology Think Tank 2.1 has confirmed its agenda and speaker line-up ahead of the event next Thursday (16th September). The third Collections Technology Think Tank has been created as an online event platform so that collections professionals can specifically discuss the role of the technology as we potentially emerge from the pandemic,…
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Job creation looks set to continue at a strong rate after the furlough scheme ends, but a fresh rise in unemployment is still likely according to analysis by the Resolution Foundation. The Foundation has warned that about 900,000 people are still expected to be on the scheme when it finishes on 30th September. As a…
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Hairdressers, shelf stackers and carers will be among those working families facing the biggest overall drop in their benefits income since 2010 when the cut to Universal Credit goes ahead next month, according to new research¹ by leading UK children’s charity Action for Children. The charity commissioned research from the Child Poverty Action Group which…
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