Credit, Collections & Insolvency News
Brightstar Financial has announced that Bradley Moore will become its new managing director. Moore co-founded the specialist distributor with CEO Rob Jupp and director Kit Thompson in 2011 – will also continue in his current role of running Brightstar’s second charge mortgage division and Bright Mortgage Services. Rob Jupp said “Bradley has been with the…
Read moreThe biggest rise in food and drink expenditure in over 40 months has driven consumers’ essential spending to its highest level of growth since September 2013, according to the latest Lloyds Bank Spending Power Report. Overall essential spending grew by 1.8% in December, a fourth consecutive month of positive growth. Lloyds Bank’s analysis of its…
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The HMRC collected £178 million via its Annual Tax on Enveloped Dwellings (ATED) last year. This is up by £62 million (53%) on the amount collected the previous year, says Collyer Bristow, a leading private client law firm. Collyer Bristow explains that ATED was first introduced in April 2013 and is payable on high-value UK residential property…
Read moreResponding to the Bank of England’s latest money and credit statistics Citizens Advice says rising consumer borrowing could lead to serious debt problems further down the line – but that it is household bills putting the pressure on people’s finances now. According to the Bank’s December 2016 figures, unsecured consumer credit is at its highest…
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The latest Individual Personal Insolvency statistics from The Insolvency Service have been released indicating a 13% rise in individual insolvencies in 2016. The figures also show that in the last quarter of 2016 Individual insolvencies decreased compared with the previous quarter but were higher than in Q3 2015, driven by individual voluntary arrangements and debtor…
Read moreThe latest Corporate Insolvency statistics from The Insolvency Service have been released. The report shows that the total number of company insolvencies was higher in 2016 than the previous year, primarily caused by 1,796 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. The underlying number of company insolvencies…
Read moreLatest research from Equifax has discovered that 38% of people, in the UK, believe they always get the best deals through a comparison website. The online survey, conducted by YouGov also found that 70% of people use a comparison website when choosing a financial product. The Competition and Markets Authority (CMA) has recently launched a…
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SME working capital solutions specialist Scottish Pacific Business Finance UK has announced a senior appointment. Rob Kelly has been appointed as senior business development manager at Scottish Pacific Business Finance UK, with the key responsibility to head up sales and develop new business through Scottish Pacific’s new central London office. Scottish Pacific head of international…
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Metro Bank has launched a specialist Large Commercial Banking team focussed on supporting trading businesses, and staffed by a team of industry experts. Andy Veares, Director of Large Commercial Banking, will lead the new department and is joined by Paul Robinson and Simon Vallance, previously of Santander UK; and Mark Byrne and Andrew Cremin formally…
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Chris Pond has been appointed the new Chair of the The Lending Standards Board (LSB). Pond will take over as Chair of the LSB at the end of March. He succeeds Lord Hunt of Wirral who has completed 6 years as LSB Chairman, recently overseeing the move from the Lending Code to the outcome-focused Standards…
Read moreNava Finance Limited today announced that the Financial Conduct Authority has confirmed that as of 27 January, 2017 Nava Finance Limited is authorised and regulated by the FCA, enabling Nava to begin offering personal loans to UK consumers. The company is now focused on working towards an initial launch date, which will be announced when…
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New research from Sainsbury’s Bank Loans has revealed that more than 180,000 people across the UK could take out a personal loans for debt consolidation in the first three months of 2017, worth more than £2 billion. This figure equals an estimated 31% of all personal loans taken out in the first three months of the new year.…
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The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services…
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