The OFT (The Office of Fair Trading) has ruled that capping payday and doorstep lenders would reduce competition in the market and says that this type of lending worked, “reasonably well”.
The review looked at home credit, pawnbroking,  payday loans and the rent-to-buy market.
One of the more recent entrants to the high-cost credit [...]

Consumer finance company Egg has launched a new VISA card as part of its credit card range.
This new product offers new and existing customers a standard annual percentage rate of 17.9 per cent as well as cashback of ten per cent on purchases from over 1,500 associated online retailers. Details of those retailers [...]

Most people probably haven’t heard of the term ‘fronting’ which is when a person presents themself as the named driver on an insurance application when in fact the driver of the car is someone else.
According to almost 70% of the British public, they don’t see this as fraud. In most cases it is a case [...]

SPANISH banking giant BBVA is thought to be mulling a takeover bid for National Australia Bank’s UK business, following its withdrawal from the £2 billion auction of more than 300 Royal Bank of Scotland branches.
NAB, owner of Clydesdale and Yorkshire banks, has previously said that it sees itself as a platform for consolidation of the [...]

Troubled subprime lender Cattles today warned it could be sold in a restructuring deal which would leave shareholders with just a fraction of their investment but could allow the company to be delisted from the stock market.
Cattles, which has been in talks with its own banks for months in a bid to restructure its [...]

Looks like the Manchester Building Society could make a tidy £5m profit in just over 3 years if they decide to sell the Manchester based commercial bank.

The broker community owe both Blemain and Nemo a huge debt of gratitude for simply still being here and continuing to lend when other secured lenders were unable to.

Central Trust, the Norwich based lender and broker founded by Andrew Turner in 1987, has secured a new £90m revolving credit facility with Royal Bank of Scotland and National Australia Bank.
This extra funding will allow the company to re-enter the secured loan market and this should be the first of a raft of new money [...]

Royal Bank of Scotland is restricting the amount borrowers can ‘borrow back’ on their flexible mortgage products.

Charles Howson has announced plans to take Accuma Group PLC private