Credit, Collections & Insolvency News
Latest data from UK Finance has found that mortgage lending activity dipped in early Quarter 2 (Q2) following stamp duty changes but had recovered by June, with forward‑looking application data pointing to continued momentum into the third Quarter. The FCA’s mortgage affordability stress test has helped keep arrears low on mortgages granted since its introduction, but…
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A man from Suffolk has been sentenced to 4 years and 9 months at Ipswich Crown Court after stealing over £490,000 from bank customers after taking over their accounts by impersonating them. The sentencing follows investigation and arrest by specialist banking industry sponsored police unit, the Dedicated Card and Payment Crime Unit (DCPCU). Blessing Mudzinge,…
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New research from Unbiased has revealed that while consumers see a role for artificial intelligence (AI) in finance, a majority prefer human advisers. The survey of 800 UK adults actively seeking financial advice found that a combined 74% are open to an adviser-led model, compared with just 6% who would choose an AI platform alone. The…
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Global credit management and technology company Pepper Advantage has announced two new appointments. Brendan Twomey joins as Chief Technology Officer (CTO) and the promotion of Gary Stockley, formerly Chief Information Officer, to Chief Product Officer (CPO). As CTO, Twomey has 25 years’ experience delivering complex tech strategies for UK commercial and scale-up banks, specialising in leading…
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Shawbrook has agreed to acquire alternative lender, ThinCats. The acquisition of ThinCats represents a strategic investment in accelerating the growth of Shawbrook’s existing presence in the specialist SME lending market. ThinCats will continue to operate as a separate brand with independent teams, and will maintain a distinct proposition for owner-managed and sponsor-backed businesses. Amany Attia,…
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Aryza has announces the acquisition of Bravure, a specialitist technology enabled debt sale and recovery solutions provider. Bravure is based in Sydney Australia. Bravure’s Bridge software helps creditors optimise recovery by analysing debt books, automating decisions on collection strategies, maximising the pricing of debt books, and enabling data exchanges with third parties such as debt…
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Latest Bank of England data have shown that net borrowing of consumer credit by individuals rose slightly to £1.6 billion, from £1.5 billion in the previous month. Within this, net borrowing through credit cards slightly increased to £0.8 billion in July, from £0.7 billion in June. Net borrowing through other forms of consumer credit increased…
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Latest data from Allica Bank has revealed that 48.5% of brokers have seen an increase in applications over the past six months. That’s up from 40% in Q4 2024, and comes despite a period marred by global uncertainty, trade tensions, high costs, and the introduction of higher employer National Insurance contributions. Only 20.3% of brokers…
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Ofwat has announced the appointments of Chris Walters as its new interim Chief Executive and Helen Campbell as the new interim Executive Director, Delivery. Walters was previously the Senior Director for the Price Review, and Campbell was previously Senior Director for Sector Performance at Ofwat. In his role as interim Chief Executive, Walters will provide…
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Leonard Curtis has announced the appointment of Paul Haworth as Head of Group Compliance. Haworth joins Leonard Curtis with a 20-year track record in the restructuring and turnaround sector at a key time of growth for the firm and his brief is to ensure robust compliance advisory across the Group to meet the company’s ambitious…
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Latest Bank of England data showed mortgage approvals for house purchases rose in July for a third consecutive month, Mortgage approvals for house purchases increased by 800 in July, to 65,400. Approvals for remortgaging decreased by 2700 in July, to 38,900. Net borrowing of mortgage debt by individuals decreased by £0.9 billion to £4.5 billion…
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Large organisations are to be criminally liable if they fail to prevent fraud, under new rules that come into force today. Under the new offence, companies could be held liable if one of their employees, agents or subsidiaries commits fraud with the aim of benefiting the business that they work for, unless able to demonstrate…
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Latest data from the Bank of England on the Credit Union sector shows that adult membership grew 33% to 2.16 million in Q1 2025, a quarterly rise of 7,076 and an increase of 43,905 compared to Q1 2024. The total value of assets held by Credit Unions rebounded slightly in 2025 Q1, increasing 0.14% to…
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