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StepChange Debt Charity response to Bank of England Money and Credit statistics
Thursday, 31 August 2017
Responding to the Bank of England Money and Credit July 2017 statistical release, Peter Tutton, Head of Policy at StepChange Debt Charity, said:  “With stagnant wages and rising inflation squeezing household incomes further, a slight decrease in the rate of growth for consumer credit is no sign of relief. These latest figures show overall consumer credit is rising by nearly 10% annually and with people now getting into debt at a younger age and an estimated 8.8 million turning to credit to meet essential living costs, we must remain vigilant that a credit bubble is not history repeating.  
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Money Advice Service media comment: Credit Cards and long-term debt
Wednesday, 30 August 2017
Commenting on credit cards and long-term debt, Head of Debt, Craig Simmons at the Money Advice Service said:   “Household debt in moderation is not a bad thing. However, when money worries start to become a problem, for example if you find yourself using credit to pay essential bills or falling behind on them, it’s important to remember that you don’t need to deal with it alone. In the first instance, it can be a good idea to speak to your lender, who can often work out a repayment plan that is affordable to you. There are also lots of services available across the UK, who will provide personal, impartial and free advice to deal with money problems.”
 
Money Advice Service media comment: FCA PPI deadline
Wednesday, 30 August 2017
Commenting on the FCA PPI deadline announcement, Policy Expert at the Money Advice Service, Andrew Johnson said:   “If you have previously taken out a loan, mortgage or credit card and think you may have been misold PPI, you should get your claim in as soon as possible as the two-year countdown to the 29th August 2019 deadline begins. There is rarely any need to use Claims Management Companies to reclaim mis-sold PPI, who often charge large amounts of commission. Help on how to complain to financial firms directly, and if necessary to the ombudsman service can be found on the Money Advice Service website. Alternatively visit the FCA's new micro site”.
 
Redwood Bank launches four months after securing its initial banking licence
Tuesday, 29 August 2017
Redwood Bank, Britain’s newest business bank for SMEs (small and medium sized enterprises), has announced that just over four months after securing its initial banking licence, it has completed its “Mobilisation” phase and has now opened for business, offering secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. It has also launched a competitive business deposit account. 
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Pegasystems Survey Reveals Financial Institutions Slow to Shift to Customer-Centric Sales Culture
Friday, 25 August 2017
Pegasystems Inc., the software company empowering customer engagement at the world's leading enterprises, has announced a new global survey that shows financial services institutions need to accelerate their move to a more customer-centric sales culture. While the wide majority of financial services firms and banks realise they must shift from product-based to relationship-based selling to remain competitive, only one-third of banks have successfully made the transition.
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What Does Provident Financial’s Share Plunge Tell Us About the Market?
Thursday, 24 August 2017
Provident Financial is one of the best-known consumer credit firms not just in the industry, but also across the industry’s customer base. It began life with a model that many other firms went on to imitate and which had the agent-customer relationship at its heart. It has served thousands of low-income customers over many years and across several generations.  
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Mortgage sales plummet by £1.8bn in July
Wednesday, 23 August 2017
Mortgage sales for the UK decreased by £1.8 billion in July, down 10.8% on the previous month, according to Equifax Touchstone analysis of the intermediary marketplace. 
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LEBC warns parents to consider student debt carefully
Tuesday, 22 August 2017
National IFA, LEBC warns parents wanting to help their children avoid student debt to consider carefully whether this is a sound financial move. Depending on whether the potential earnings of the graduate or the career breaks they take within 30 years of graduating, parents with funds to proffer might spend them better on things like a deposit for a house or a car.
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Over a thousand members of The Nottingham to receive cash windfalls
Tuesday, 22 August 2017
Over 1500 members of the Nottingham Building Society (The Nottingham) are to receive a share of a £70,000 ‘cash back’ as a reward for making sound financial decisions earlier this year.  
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‘Team Vida’ raises £5,000 for Shelter
Monday, 21 August 2017
A team of eight Vida Homeloans staff members, consisting of David Tweedy, Louisa Sedgwick, Ian Giles, Simon Burnell, Tommy Wight, Plamen Mitkov, Joshua Dines and Dave Whitford, successfully completed the Prudential RideLondon -Surrey100 on 30th July 2017 to raise £5,000 for Shelter.
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BLOG: How “Hard Mark” Credit Checks are Quietly Costing Consumers
Monday, 21 August 2017
It is not unreasonable for consumers to assume that they should be able to assess their eligibility for a loan without damaging their future prospects. The majority of lenders perform hard credit checks on customers when applying for a loan, and as a result are hiking the cost of borrowing for the customers they decline. Sarah Jackson, Director at Equiniti Pancredit, highlights the glitch in the system and explores how lenders can use automation to stay on the right side of their customers. 
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