Credit, Collections & Insolvency News
The Council of Mortgage Lenders (CML) has published its latest mortgaging figures. While first-time buyer lending was down in July compared to June, the number of loans advanced to first-time buyers was the second highest monthly level of the year so far. Home mover activity was at its third highest monthly level this year by volume…
Read moreCVR Global has appointed Simon Lowes to its partner team. Lowes is a licensed insolvency practitioner with more than 30 years of experience in the insolvency and business recovery sector. He joins Matthew Fox as CVR Global’s second partner based in Southampton. Matthew Fox, Partner at CVR Global, said: “Simon is a highly experienced insolvency practitioner who…
Read moreTrust Deed Scotland has become Scotland’s First FCA Regulated Not-For-Profit Debt Advice Company. Jon Paul Kelly, director at Trust Deed Scotland, said the news “put the company in a unique position to benefit the community by offering free qualified debt advice of the highest calibre. We have always re-invested in the company to ensure the staff…
Read moreThe European Central Bank (ECB) will allow European banks to set their own targets for cutting the €900 billion of bad loans left over from the financial crisis. New guidance will require banks to set their own targets for the levels on non-performing loans (NPL), with only “significant” deviations triggering regulatory action. Sharon Donnery, the Irish…
Read moreHere is an overview of The Money Charity’s latest statistics for September 2016: Personal Debt in the UK People in the UK owed £1.496 trillion at the end of July 2016. This is up from £1.444 trillion at the end of July 2015 – an extra £1,028.50 per UK adult. Per adult in the UK that’s…
Read moreThe Law Commission has today published it’s report on Bill of Sale announcing a series of recommendations to protect borrowers from ‘unfair’ logbook loans. Logbook loans are a way for borrowers to use their vehicle as security for a loan. Borrowers who fall behind with payments can find their vehicle swiftly repossessed, as well as high…
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Research from Funding Options has announced that the number of businesses whose assets were seized by the HMRC in order to settle outstanding debts grew sharply in the last year is up 145%, from 649 in 2014/15 to 1,592 in 2015/16. Funding Options adds that HMRC seized assets to recover £42.6m of outstanding debt in the last…
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Creditsafe has announced the opening of its first office in Asia. Headquartered in Tokyo with operations based in Fukuoka, it is the firm’s 18th global office. In addition to setting up its operation in Japan, Creditsafe is also planning to extend its global database to offer UK businesses information on more than 12 million publicly traded…
Read moreB2Holding ASA, via its fully owned subsidiary Ultimo Netherlands BV, has entered into an agreement to acquire a residential mortgage Non-Performing Loan (NPL) portfolio from Romanian Bank Banca Comerciala (BCR) in a 50/50 partnership with EOS Investment RO GmbH (“EOS”). The portfolio consists of some 6,800 loans secured by real estate collaterals. The portfolio has…
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UHY Hacker Young has announced the appointment of Martin Jones as a new Partner in its London audit and assurance team. Laurence Sacker, Managing Partner of UHY Hacker Young, says: “We are delighted to have Martin join the UHY Hacker Young team at our London office. Martin’s specialist knowledge and international experience will be highly valuable…
Read moreThe Finance & Leasing Association (FLA) has released new figures that show that the point-of-sale (POS) consumer new car finance market grew 1% by value and 1% by volume in July, compared with the same month last year. The percentage of private new car sales financed by FLA members through the POS reached 85.3% in the…
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The Finance & Leasing Association (FLA) have released news figures showing that consumer finance new business in July was at a similar level to the same month last year. Credit card and personal loan new business together fell by 1% compared with July 2015, while new business in the second charge mortgage market was down 9% by…
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JC International Acquisition Llc (Jefferson Capital International) has announced that it has achieved full authorisation from the Financial Conduct Authority (FCA). Peter Copperwheat, Head of UK , said “meeting the threshold conditions is a fantastic achievement for our team at JCIA and affirms our commitment to doing the right thing. Our UK Debt Collection Agency Creditlink Account…
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