Credit, Collections & Insolvency News
Marston Holdings (Marston) has appointed Gordon Hurst as Group Chairman. Hurst joined Capita as Financial Controller in 1988 when Capita was a management consultancy company with a turnover of £2million. He became Group Finance Director in 1996 and was a key member of the senior team that grew Capita into a FTSE 60 business with £4.3 billion…
Read moreThe first independent research to analyse the impact of the regulation and price cap on the high-cost short term credit market has been published. The study by the Social Market Foundation (SMF), commissioned by the Consumer Finance Association (CFA), shows consumers are now paying less to borrow. According to the report, high-cost short-term credit plays…
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Independent research commissioned by London-based bridging lender Market Financial Solutions (MFS) has revealed that 1.3 million of Britain’s high-net-worth individuals (HNWIs) have been denied a loan or any form of credit over the past five years. MFS’s new report ‘Asset Rich, Credit Poor’ surveyed a nationally representative sample of 2,000 UK adults, finding that 17%…
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Responsible Finance has announced that all of its members lending to consumers and small businesses are now fully authorised by the Financial Conduct Authority (FCA). Jennifer Tankard, Chief Executive of Responsible Finance said: “We are pleased to see that our members are now fully authorised by the FCA for consumer credit lending. Responsible Finance providers…
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Masthaven has launched as a digital bank. The bank will offer savings and lending products, saying it is committed to offering what people want, not just what is available. Masthaven says at the heart of the bank is a people business – which at launch sees 80% of employees already shareholders in the business. Access to…
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The Bank of England has published it’s latest statistical data. Bankstats Bankstats consists of: money and lending; monetary financial institutions’ balance sheets; further analyses of deposits and lending; external business of banks operating in the UK, public sector debt and the money markets (including gilt repo and stock lending); sterling commercial paper, other debt securities,…
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The Financial Conduct Authority (FCA) has today announced that it is seeking evidence and feedback to further inform its work on high-cost credit, including a review of the payday loan price cap. Since taking over regulation of consumer credit in April 2014, the FCA has focused on products that it believes pose the highest risks…
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1st Credit and Telrock Systems are pleased to announce that the SmartCollect platform is today in full production across the 1st Credit business. The platform allows 1st Credit to execute cost effective SMS and email campaigns to engage with its customers and provides a 24x7x365 self – service capability to its customers through the SmartCollect…
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The majority (64%) of UK adults are budgeting to spend an extra £96.22 per week on food during the Christmas and New Year period, reveals new insight from short-term loan provider Sunny. The insight into this year’s festive food shopping habits reveals that those UK shoppers planning to splash out more this Christmas, believe they…
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For nearly three in ten (28%) women in the UK, the inability to support themselves or their families financially is their greatest financial fear. A new report from Aegon ‘Protection matters: does women’s financial planning match their priorities?’, which draws on the opinions of more than 2,000 women, found that nearly half (46%) believe it’s…
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Insolvency Office statistics reveal that the company liquidation rate in England and Wales is at its lowest level since records began in 1984 and that there has been a continuous downward trend in the rate since 2011. In the 12 months to the end of September 2016, 0.41% of active companies (about one in 244)…
Read moreThe BBA has released high street bank figures for October. Dr Rebecca Harding, BBA Chief Economist, said “Consumer credit is now growing at its fastest rate since November 2006, reflecting strong retail sales growth. Consumer confidence remains robust as borrowers take advantage of record low interest rates. Mortgage approvals ticked up a little October. There has only…
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The UK Card Payments Association has announced that payment card spending grew by 0.6 per cent in September to reach £54.7 billion, driven largely by a £302 million rise in debit card spending. Card spending increased by £4.4 billion in the three months to the end of September compared to the previous quarter, a 2.8%…
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