Consumer finance new business stable in January
New figures released today by the Finance & Leasing Association (FLA) show consumer finance new business in January was at a similar level to the same month in 2018.
Number of UK workers turning to high-cost short term loans continues to rise
The number of UK workers turning to high-cost short term loans (payday loans) as they struggle to cover their living costs and make ends meet continues to rise. Using data collected from over 700,000 payday loans requested between January 2017 and December 2018, credit broker CashLady has gathered together an in-depth analysis of the average borrower.
Slowdown in consumer credit growth
The Bank of England has today published its latest monthly Money and Credit report showing consumer credit growth slowed to 6.6 percent in the year to December 2018. Outstanding balances for consumer credit stand at £215.6 billion.
Consumer finance new business up by 2% in November
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017.
Unsecured debt has hit a new peak of £15,400 per household
Unsecured debt has hit a new peak of £15,400 per household according to new analysis by the Trade Union Congress (TUC).
Equifax predicts progress for Open Banking in 2019
Equifax believes that Open Banking will play a key role in Fintech development in 2019. Jake Ranson, Banking & Financial Institutions Expert and CMO at Equifax UK, believes consumers will begin experiencing the full benefits of Open Banking in the year ahead.