Credit, Collections & Insolvency News
A report from the Council of Mortgage Lenders (CML) has outlined statistics indicating that the number of mortgages in arrears continued to fall in the second quarter of this year and are now at its lowest level since records began more than 20 years ago. The CML data shows that at the end of June there were 92,500…
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Here is an overview of The Money Charity’s latest statistics for August 2016: Personal debt in the UK People in the UK owed £1.484 trillion at the end of June 2016. This is up from £1.444 trillion at the end of June 2015 – an extra £777.90 per UK adult. Per adult in the UK…
Read moreLatest statistics from The Money Charity have revealed that English students owe more than ever before. The average debt for the graduates who entered repayment this year was £24,640, up from £21,170 in 2015. Due to incremental rises to tuition fees and maintenance loans, the sum owed by students has risen steadily for the past decade,…
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The study by Shelter and YouGov found that one in three families have little or no personal savings to fall back meaning that a staggering three million working families could be just one pay cheque away from losing their home. The research also revealed that a fifth of working parents face the prospect of being immediately unable to…
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A report by the Competition and Markets Authority (CMA) has suggested a number of measures to ensure banks work harder for customers and the benefits of new technology are fully exploited. The report main highlights includes: Banks make £1.2 billion a year from unarranged overdraft charges. Banks will be required to send alerts to customers going…
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A research report by Citizen Advice finds that high levels of debt make people less likely to move house, apply for a new job or start a business, exposing the ways excessive debt damages life chances. Following the Bank of England’s decision last week to cut interest rates to 0.25%, Citizens Advice is also calling…
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Latest statistics from Accountant in Bankruptcy (AIB). The overall rate of personal insolvencies, which include both bankruptcies and protected trust deeds, has decreased a quarter in the last financial year from 25.13 to 19 per 10,000 adults. The number of Scots entering a Debt Arrangement Scheme (DAS) also fell to half the rate of the previous financial year,…
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Freedom Finance’s finance merger completion will mean that 15 people will join from Sensible Homes Loans and the company will operate from two sites, Manchester and Doncaster. Andrew Fisher, Managing Director of Freedom Mortgages and Freedom Finance second charge mortgages department said “The merging of Freedom Finance and Sensible Home Loans is a key part of the…
Read moreCar sales slowed last month following Britain’s decision to leave the European Union. New car registrations went up by 0.1% to 178,523 in July, according to the Society of Motor Manufacturers & Traders. Full statistics from the report can be found here.
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UK interest rates cut is confirmed at 0.25% from 0.5%. The Bank of England has announced the first rate change since 2009.
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A deal for Santander to buy Williams & Glyn’s 300 branches from Royal Bank of Scotland (RBS) might still stall if an agreement cannot be reached that ensure more than a million customers move over to Santander The European Union (EU) had ordered that RBS sells off Williams & Glyn by 2017 as a condition of its £45 billion bailout…
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Steve Humm has been appointed new Chief Operating Officer of Callcredit Information Group.
Read morehttp://www.cityam.com/246757/energy-market-regulator-ofgem-responds-cma-competition-price-cap
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