FCA’s decision to retain existing definition of vulnerability is ‘the right approach’

The Financial Conduct Authority (FCA) has today announced it is retaining its existing definition of vulnerable consumers in response to its Consumer Approach...

StepChange Debt Charity reaction to FCA consumer approach

Responding to the publication today of the Financial Conduct Authority’s consumer approach, StepChange Debt Charity is pleased to see that the regulator has...

Consumers left clueless about banking options

Online research from Equifax, the consumer and business insights expert, reveals a lack of awareness of banking options among Brits. When presented with a list...

New report reveals employee mindset on financial, physical, mental wellbeing – and how it impacts employers

Employers are not grasping the depth of concern staff feel about their financial, physical and mental health, according to new research from Neyber into the...

Equifax, first CRA to sign Women in Finance Charter

Equifax, the consumer and business insights expert, has become the first credit reference agency (CRA) to sign the Women in Finance Charter. HM Treasury has...

1 in 5 British adults has had an outstanding credit card balance for at least six months

One-in-five (22%) British adults have had an outstanding credit card balance for at least six months, including the 4% of British adults who have had an...

Intuit’s Direct Bank Feed with Lloyds Bank Now Live

Intuit Ltd, a fully owned subsidiary of Intuit Inc (Nasdaq: INTU), and Lloyds Bank (LSE: LLOY), announced today that its direct bank feed is now live. Now,...

Open Banking after first 6 months: “it promises to be biggest improvement for customers since the introduction of the cashpoint“

Thursday 13 July marks six-months since Open Banking was introduced, with the government aiming to dramatically increase competition and ensure a much better...

Equifax partners with consents.online to develop Open Banking solutions

Equifax, the consumer and business insights expert, has formed a strategic alliance with consents.online, a digital consent management and AISP accredited Open...

Consumer finance new business up by 11% in May

New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in May grew by 11%, compared with the same...

Fleet Mortgages announce revamp of entire product range

Fleet Mortgages, the buy-to-let and specialist lender, has today (4th July 2018) announced a revamp of its entire product range with new options across its...

Brits cite money saving product recommendations as the biggest incentive to use Open Banking

Six months into Open Banking, online research from Equifax, the consumer and business insights expert, reveals that two fifths (40%) of Brits willing to share...

Hampden & Co added to Paradigm lender panel

Paradigm Mortgage Services, the mortgage services proposition, has today (2nd July 2018) added private bank, Hampden & Co, to its lender panel. From today,...

StepChange Debt Charity comment on latest Bank of England lending statistics

Today’s data from the Bank of England shows that consumer credit growth rates continued to slow in May, but remains rapid relative to 2009-12. Although net...

Shanghai bank approves 9 million credit card applications with FICO

Shanghai Pudong Development Bank (SPDB) Credit Card Center, a credit card lending pioneer in China, has increased its customer base using originations powered...

Money Advice Trust helps more people in 2017 as demand continues to increase

The Money Advice Trust has today published its latest impact report which outlines the impact of its advice services, training and influencing work in 2017....

StepChange Debt Charity comment on FCA retail banking review – overdrafts

StepChange Debt Charity notes that the Financial Conduct Authority today reports that bank overdrafts are significant drivers of profitability on bank personal...

Increase in credit card spending could indicate upcoming rent and mortgage affordability issues

Today’s UK Finance figures show credit card spending has risen considerably in May. This could be an indicator of affordability issues, which could have a...

Oblix Capital joins the ASTL

Oblix Capital, a specialist short term lender, has joined The Association of Short Term Lenders (ASTL) as a new associate member. Membership of the ASTL now...

Experian secures FCA accreditation to supply Open Banking and PSD2 services

The UK’s largest credit reference agency, Experian, can now offer Open Banking and PSD2 (Payment Services Directive 2) services to enable the exchange of...

Creditfix Ranks Among Top 20 Companies To Work For In Scotland

The UK’s biggest personal insolvency practice Creditfix has taken 15th spot in a major employee poll to uncover the best companies to work for. Headquartered...

Why should being vulnerable have to mean being worse off?

In 2017, one in five clients of StepChange Debt Charity had an additional vulnerability (such as illness), on top of their problem debt. New analysis from the...

Bank of England’s warning on 0% credit card deals signals growing concern

Following the Bank of England’s recent letter warning about the growing risks attached to the provision of 0% credit card balance transfer offers, Daoud...

Stonebridge Group records record month for mortgage apps

Stonebridge Group, the mortgage and insurance network, has today (14th June 2018) announced its best ever month for mortgage applications with its advisers...

Nationwide Building Society: The Most Compelling UK Banking Brand

Nationwide Building Society’s reputation rating of 7.3 out of 10 is dovetailed by extremely high recommendation among customers (8.1), making it the UK’s...

Spending on international travel increases but accommodation hits a slump, new research finds

UK consumers look set to spend more on international travel this year than in 2017, the latest findings from Ferratum’s Summer Barometer have found....

Do children know the value of money?

In support of the tenth annual My Money Week (11-17 June 2018) Equifax has partnered with Young Enterprise in order to equip young people to grow-up with the...

NCR and SAPS Raid the Eastern Cape

On Friday, 01 June 2018, the National Credit Regulator (NCR) joined forces with the South African Police Service (SAPS) in an operation aimed at curbing...

Who will be checking just how thorough and impartial Richard Lloyd’s review of FOS will be?

Alarm bells are starting to sound as fears rise over the impartiality of the Financial Ombudsman’s review chief and his ‘perceived closeness’ to the...

Rent in East of England up 27.1% since 2011 compared to 8.8% pay rises

High rents are here to stay so as a direct consequence employers must be prepared to pay much higher wages to staff to enable them to afford these much higher...

CICM welcomes FCA’s focus on unarranged overdrafts in new credit review

The Chartered Institute of Credit Management has welcomed the planned review by the Financial Conduct Authority (FCA) into high cost credit and particularly...

StepChange Debt Charity responds to FCA high cost credit proposals

The FCA today published the outcomes of a review into high cost credit, including overdrafts, doorstep loans, catalogue credit and rent-to-own borrowing. The...

MAS response to the FCA high cost credit review

Responding to the FCA’s review into high cost credit, Money Advice Service Chief Executive, Charles Counsell, said today: “We welcome the FCA’s...

FCA measures on high-cost credit welcome – but further action ‘must remain on the table’

The Financial Conduct Authority (FCA) has today published its high-cost credit review. The review outlines proposals designed to protect people who use...

What will be the consequences of FCA proposals?

The net result of the proposals in the Financial Conduct Authority’s High Cost Credit Review published on 31st May is that fewer people, particularly those...

Paradigm add Melton Building Society to lender panel

Paradigm Mortgage Services, the mortgage services proposition, has today (30th May 2018) added The Melton Building Society, and its subsidiary, MBS Lending, to...

Raiffeisen Bank increases digital lending capabilities with FICO platform

Raiffeisen Bank will use new customer onboarding technology from analytic software firm FICO to increase its digital lending capabilities in Romania. FICO...

First crowdfunding project to address housing crisis in UK

Abundance, Britain’s leading peer-to-peer ethical investment platform, today launches a new move into the social and affordable housing sector, building on...

Behind on the basics – three million people in arrears on essential bills in 2017

Analysis by StepChange Debt Charity reveals that two in five clients who received advice in 2017 were behind on at least one of their essential household bills...

FCA robo-advice review comment

Following the FCA’s statement on robo-advice, which required many providers to make ‘significant changes’, Robbie Constance, Head of Financial Services...

Payments community calls on Open Banking to do more to enable access for FinTechs

The Emerging Payments Association (EPA) has written to the Open Banking Implementation Entity (OBIE) calling for the OBIE to amend the terms of the CMA’s...

Landlords grow their buy-to-let portfolio through a seven-day second charge loan

The directors of an investment company, who own nearly 250 properties, are set to grow their portfolio after Together delivered funding secured against part of...

Lender representatives at FSE Manchester question FCA is ‘back tracking on MMR’

Following on from its Mortgages Market Study Interim Report, published earlier this month, a number of lender representatives have questioned whether the...

GMB welcome news of rising wages in London but says there is still a long way to go

News that wages have risen is welcome but there is still a very long way to go to make up the ground lost due to the recession in 2008 and inflation since...

Fast-growing Yorkshire entrepreneur scoops industry award

A Sowerby-Bridge based finance management specialist has won a prestigious regional industry award. Martin Mellor, founder and managing director of Mellor...

Secure Trust Bank partners with Connect for Intermediaries network and packager

Residential lender Secure Trust Bank has joined the panel, not only of Connect for Intermediaries mortgage network but also its packaging arm. Brokers from the...

Business Disability Forum offers 10-point strategy to reducing work-place stress

With 12.5 million work days lost each year as a result of stress, depression and anxiety, the global membership organisation Business Disability Forum is using...

Troubling signs for London’s housing as new build ‘starts’ & sales growth fall

LCP’s latest LCPAca Residential Index reports annual new build sales* falling 13.8% in Prime Central London with quarterly transactions plummeting to 88....

The Right DA Club Launch Compliance Packages

The Right DA Club, the directly authorised arm of The Right Mortgage Ltd, has officially launched its compliance packages for directly authorised firms. The...

Consumer finance new business holds steady in March

New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in March was at a similar level to that...

Stable interest rate provides respite for people living in debt

Following the Bank of England’s (BoE) decision not to raise interest rates today, Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax...

Glasgow’s CarMoney expands its financing activity into car leasing

CarMoney, the fast-growing Glasgow-based motor finance business which was launched in 2016, is set to expand its financing activity into car leasing as a...

Consumers need satisfactions says trust chairman

The number of debt judgments registered in Jersey rose slightly during the first quarter of 2018, according to figures released today by Registry Trust....

Just Mortgages expands following most successful year ever

Just Mortgages is taking on two new Financial Service Directors (FSDs) following its most successful year to date. These are just two of a raft of appointments...

Paradigm Protect launch new Protection Helpdesk for members

Paradigm Protect, the directly authorised protection proposition, has today launched a new helpdesk specifically focused on answering member queries relating...

MotoNovo – Bank Owned Independent Finance Provider of the Year

At the 4thannual Motor Finance Conference held in Berlin on April 26th, MotoNovo Finance was recognised as leading bank owned independent finance provider in...

Consumers owed up to £18bn as PPI claims undervalued

Banks may be forced to pay a further £18bn to consumers in payment protection insurance (PPI) claims ahead of the August 2019 deadline, following...

StepChange Debt Charity comment on latest Bank lending data

Today’s data from the Bank of England shows a monthly slowdown in the rate of growth in consumer credit lending – but in the first quarter of this year,...

Consumer credit remains ‘worryingly’ high despite slight ease in rate of growth

The Bank of England has today published its latest monthly Money and Credit report showing consumer credit growth was 8.6 percent in the year to March 2018,...

BoE gross mortgage lending figures out today

John Phillips, group operations director at Just Mortgages and Spicerhaart, says, “Overall mortgage approvals were broadly unchanged for March, but within...

Santander renews AVM partnership with Hometrack

Santander has confirmed a three year extension to its valuation and risk services partnership with Hometrack, covering collateral risk management solutions...