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CMA quote on Open Banking
Friday, 12 January 2018
Adam Land, Senior Director at the CMA, said: “This is a major milestone. These reforms will transform retail banking, completely changing the way that people interact with their accounts. 
Consumer new car finance volumes down 8% in November
Thursday, 11 January 2018
New figures released today by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in November, compared with the same month in 2016, while the value of new business increased by 2% over the same period.  
Second charge mortgage new business grows in November
Thursday, 11 January 2018
Commenting on the November 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:  “The second charge mortgage market reported further modest growth in November, and in the first 11 months of 2017, new business volumes increased by 11% compared with the same period in 2016.
Consumer finance up by 5% in November
Thursday, 11 January 2018
New figures released today by the Finance & Leasing Association (FLA) show consumer finance new business grew in November by 5%, compared with the same month in 2016.  
Slight rate drop for high LTV borrowers but product choice remains ‘patchy’ at best
Wednesday, 10 January 2018
The end of 2017 brought better news for first-time buyers in terms of Government support for affordable housing and increasing supply, plus cuts to stamp duty levels for those purchasing up to £300k, and the latest findings from the quarterly AmTrust Mortgage Loan to Value (LTV) Tracker also show improvements for those first-timers with smaller deposits as average interest rates fell slightly and the average first-time buyer house price stayed level. 
Avoid over-indebtedness and borrow wisely
Tuesday, 09 January 2018
As we start the year, unfortunately the festive season left some consumers in a desperate situation when it comes to finances. There are many reasons why consumers need to borrow money at this time of the year, says Nomsa Motshegare, CEO at the National Credit Regulator (NCR). 
Consumer Delinquencies Mixed in Third Quarter
Tuesday, 09 January 2018
WASHINGTON – The delinquency picture was mixed in last year’s third quarter, as delinquencies in closed-end loans (like personal or auto loans) rose while delinquencies in key open-end loans (like credit cards) fell, according to results from the latest American Bankers Association Consumer Credit Delinquency Bulletin. Overall, delinquencies fell in 5 and rose in 5 of the 11 individual consumer loan categories tracked by ABA.   One category (indirect auto loans) remained unchanged.
Consumer credit levels ‘remain a concern’ despite borrowing slowdown
Thursday, 04 January 2018
The Bank of England has today published its latest monthly Money and Credit report showing growth in consumer credit of 9.1 percent in the year to November 2017. Outstanding balances for consumer credit now stand at over £205.8 billion. 
StepChange Debt Charity response to Bank of England Money and Credit statistics
Thursday, 04 January 2018
In response to the Bank of England’s latest Money and Credit data (November 2017) published today, Peter Tutton, Head of Policy at StepChange Debt Charity, said:  “While the rate of growth may have slowed, the outstanding amount of borrowing taken on by households continues to grow at a rapid pace. We know that millions of people are already using credit just to get by; while wages falling behind inflation risks leaving many more families vulnerable to debt. Helping the millions of households living on a financial knife edge must be a priority for public policy.”
Bank of England gross mortgage lending in November, comment
Thursday, 04 January 2018
Richard Pike, Phoebus Software sales and marketing director, says “November was certainly a busy month, especially for remortgages.  This will continue to be a factor as we head into what the FCA describes as one of the ‘peak periods for interest only mortgages to mature’.  It is unlikely that all those on interest only will be able to pay off their mortgages in full.  Many will be heading into retirement, so it will be interesting to see how lenders react when approached by borrowers in the older age bracket looking for longer term funding.  There could be a real shift in attitude over the next six to twelve months as the landscape changes.” 
Comment on Bank of England gross mortgage lending in November
Thursday, 04 January 2018
John Phillips, Just Mortgages and Spicerhaart group operations director, says “It is no surprise that the value and number of remortages was up in November.  The industry was expecting a boom as so many fixed rate deals came to an end.  However, the number of interest only mortgages that also came to fruition must have been a factor as those borrowers, that had no exit plan, found themselves needing to remortgage.  There are many more that will be in the same situation in the coming months and I expect that remortgaging will continue to be the element that keeps mortgage lending figures up, even though we are heading into a traditionally buoyant time for house purchase.” 
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