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RCI Bank increases rates across fixed term accounts
Friday, 30 June 2017
The award winning* savings provider RCI Bank has today announced rate increases across all three of its fixed rate accounts, effective from today.
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Do ‘Just About Managing’ families really need to pay a premium for credit?
Friday, 30 June 2017
An industry-first credit line product is proving that many of the UK’s hard-working families (some known as ‘JAMs’) do not need to pay an expensive premium for access to credit, proving that it is possible for financial services providers to price for risk whilst still offering fair products for consumers.  
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Consumer credit continues “relentless” growth
Thursday, 29 June 2017
The Bank of England has today published its latest monthly Money and Credit report, showing consumer credit grew by £1.7 billion in May, the highest amount since last November and higher than the six-month average of £1.5 billion.  The annual rate of growth in consumer credit remained at 10.3% in the year to May.
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Hope Capital 's CEO comments on the Bank of England figures
Thursday, 29 June 2017
Jonathan Sealey, CEO of Hope Capital says, “According to the latest figures, remortgages and house purchases have slowed noticeably since the start of the year. However, despite the uncertainty around the snap general election which hit house buyer confidence (and the hung parliament certainly didn’t help), approvals for house purchase are broadly stable.
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INCREASES IN PROCURATION FEEES FOR PORTFOLIO LANDLORD WORK ARE COMING, SAYS WHITTAKER
Thursday, 29 June 2017
Advisers active in the buy-to-let sector, especially in writing portfolio landlord mortgage business, can expect to see increases in procuration fee levels from the last quarter of this year. 
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ADVISERS NEED TO HAVE MORE PROTECTION DISCUSSIONS WITH MORTGAGE CLIENTS, SAYS TIMPSON
Thursday, 29 June 2017
Mortgage advisers should prioritise discussions about protection with their clients if they are to ensure they have adequate cover in place and have a ‘Plan B’ to fall back on. 
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PROCURATION FEE LEVELS NEED TO REFLECT THE WORK INVOLVED, SAYS PARADIGM’S COFFIELD
Thursday, 29 June 2017
Lenders need to begin acknowledging the greater level of work involved in placing mortgage cases today and should be paying a procuration fee commensurate with that increased workload.  
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BROKERS MUST SAY THEY PROVIDE EQUITY RELEASE ADVICE
Thursday, 29 June 2017
Brokers must tell their customers they provide equity release advice if they’re to take advantage of a growing market, said Dean Mirfin of Key Retirement, who was speaking at a panel debate at today’s Financial Services Expo (FSE) Wales, the premier exhibition for the financial services industry in Wales and the West.  
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Financial stability report full of mixed messages - ArchOver
Wednesday, 28 June 2017
Today’s financial stability report from the Bank of England called for banks to put aside an extra £11.4bn to deal with any future economic slowdown.
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StepChange Debt Charity response to Bank of England Financial Stability report
Wednesday, 28 June 2017
In response to the Bank of England’s Financial Stability Report, Mike O’Connor, Chief Executive of StepChange Debt Charity, said:  “The Bank is right to address the rapid growth of consumer credit but there may be consequences, including potential increases in the cost of borrowing. While the Bank’s focus is on broader economic stability, there needs to be greater consideration of the stability of the ordinary family’s household finances, especially the 8.8m people using credit for essential household bills [1]. Any increase in borrowing costs could tip households, many of which are already on a financial knife-edge, into serious financial hardship. The Government, regulators and banks, must collectively do more to support people who are struggling to manage their way out of debt in an affordable and sustainable way.
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FLA comment on Bank of England's Financial Stability Report
Wednesday, 28 June 2017
Commenting on the publication of the Financial Stability Report by the Bank of England’s Financial Policy Committee, Adrian Dally, Head of Motor Finance at the Finance & Leasing Association, said:   “We welcome the Bank’s recognition that arrears rates on dealership car finance tend to be lower than for other forms of consumer credit because it is secured against the vehicle. As the Bank says, the recent growth in dealership motor finance reflects a recovery in new car registrations and a shift in how cars are purchased, away from ownership. So far in 2017, growth in this market has in any case moderated significantly compared with recent years.
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