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As banks predict rise in defaults, unsecured borrowing is surging

As banks predict rise in defaults, unsecured borrowing is surging

Lenders reported that demand for unsecured lending increased in Q4, and they’re anticipating it to rise further in Q1 this year, according to the Bank of England

Top Stories

As banks predict rise in defaults, unsecured borrowing is surging
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As banks predict rise in defaults, unsecured borrowing is surging

22 Jan 2021Lauren Tavener
Lenders reported that demand for unsecured lending increased in Q4, and they’re anticipating it to rise further in Q1 this year, according to the Bank of England

More news

Mortgage approvals reach highest since 2007, as consumer credit remains ‘weak’

Mortgage approvals reach highest since 2007, as consumer credit remains ‘weak’

Top Stories03 Dec 2020
The number of mortgage approvals for house purchase surged to a 13-year high in October, Bank of England data shows, as consumer credit borrowers continued to pay down debt
Lending Awards winners revealed for 2020

Lending Awards winners revealed for 2020

Top Stories20 Nov 2020
Credit Strategy has announced the winners of the 2020 Lending Awards, sponsored by Lantern, after an interactive digital ceremony
Active mortgage payment holidays fall by 1.6 million 

Active mortgage payment holidays fall by 1.6 million 

Top Stories23 Oct 2020
Some 162,000 mortgage payment deferrals are still in place, after dropping from a peak of 1.8 million in June, according to UK Finance statistics
Lenders’ new priorities for risk and growth – the Lending Summit agenda revealed

Lenders’ new priorities for risk and growth – the Lending Summit agenda revealed

Top Stories23 Oct 2020
A diverse set of speakers from Lloyds Banking Group, HSBC, Klarna, RateSetter, Skipton Building Society and others will appear at the Lending Summit next month, where panellists will explore the completely new territory lenders are moving into
MPs to publish FCA’s response on allegations of fraud in repossessions 

MPs to publish FCA’s response on allegations of fraud in repossessions 

Top Stories23 Oct 2020
MPs are pushing authorities to respond to allegations of potential fraud at banks, whereby it’s claimed home repossession documents weren’t actually signed by the authorised signatory

Trending

Phil Andrew

Food rations and cold homes – the reality of problem debt

22 Jan 2021Phil Andrew
At some point in 2021, StepChange expects a collision between problem debt and vulnerability, but policymakers can find a way to help those turning to food banks, writes Phil Andrew
Read more

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The personal touch: How lenders are supporting vulnerable customers through the pandemic

The personal touch: How lenders are supporting vulnerable customers through the pandemic

Edition’s highlights:

→ How lenders are personalising engagement and policies for vulnerable customers

→ Chris Fitch, vulnerability lead consultant at the Money Advice Trust, explains how firms can satisfy ICO and FCA guidance on recording vulnerability among customers

→ StepChange’s CEO shares views on how new inquiries from clients in financial hardship are already flooding in to debt advisers
Read the issue

The CS Interview

Premium: Yorkshire Building Society’s Tracey Newton on scaling the lender’s reward offering to its staff

Premium: Yorkshire Building Society’s Tracey Newton on scaling the lender’s reward offering to its staff

19 Feb 2020Amber PritchardAmber Pritchard
Tracey Newton of Yorkshire Building Society discusses innovating a reward strategy to serve nearly 4,000 people, whatever stage of their life or career they are in
Read full interview

Opinion

Phil Andrew

Food rations and cold homes – the reality of problem debt

22 Jan 2021Phil Andrew
At some point in 2021, StepChange expects a collision between problem debt and vulnerability, but policymakers can find a way to help those turning to food banks, writes Phil Andrew
Jonathan Horsman

The view from Westminster: Why emergency support to protect consumers will be here to stay

22 Jan 2021Jonathan Horsman
Some measures introduced to protect consumers of credit products will likely become permanent, writes Jonathan Horsman, secretary to the All Party Parliamentary Group on Alternative Lending
Steve Peacock

Opinion: How to keep the culture you want

15 Jan 2021Steve Peacock
Covid-19 and its effects present new challenges when measuring and retaining company culture – but that can have positive results, writes Steve Peacock, CRO at Think Money

Features

Lenders’ new priorities for risk and growth – the Lending Summit agenda revealed
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Lenders’ new priorities for risk and growth – the Lending Summit agenda revealed

23 Oct 2020Marcel Le GouaisMarcel Le Gouais
A diverse set of speakers from Lloyds Banking Group, HSBC, Klarna, RateSetter, Skipton Building Society and others will appear at the Lending Summit next month, where panellists will explore the completely new territory lenders are moving into

Credit 500 - an index of influence

Credit 500
Alex Ellerton

Alex Ellerton

Partner, Financial Services Group
Grant Thornton
Andrew Brameld

Andrew Brameld

Managing Director
BNP Paribas Personal Finance
Cyrille Salle de Chou

Cyrille Salle de Chou

CRO
HSBC
David Poole

David Poole

Chief Risk Officer
Brighthouse
Doriana Iovino

Doriana Iovino

Chief Risk Officer
Vive Bank
View Credit 500 Nominate for 2021

Webinar recordings

Listen on demand webinar - How open banking can ensure responsible lending growth

Listen on demand webinar - How open banking can ensure responsible lending growth

This on-demand webinar with Credit Kudos and a ...
Available on demand: Tracking the car finance market’s recovery 

Available on demand: Tracking the car finance market’s recovery 

Credit Strategy’s webinar on tracking recovery ...
Listen on demand: Compliant expansion - understanding the international payments landscape

Listen on demand: Compliant expansion - understanding the international payments landscape

Credit Strategy members can now listen on demand ...
Listen on demand: Webinar - Tracking confidence in Car Finance

Listen on demand: Webinar - Tracking confidence in Car Finance

Credit Strategy is hosting a webinar, in ...

Insight tools

Speaker Interview: Experian's Rob Haslingden

Credit Strategy speaks to Experian’s Rob Haslingden at the Lending Summit 2019

Speaker Interview: Experian's James McGarva

Credit Strategy speaks to Experian’s James McGarva at the Lending Summit 2019

Speaker Interview: Experian's Emma Davies

Credit Strategy speaks to Experian’s Emma Davies at the Lending Summit 2019
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Magazine digital editions

The personal touch: How lenders are supporting vulnerable customers through the pandemic
Great expectations: Why mortgage customers affected by Covid need innovative new products
Payment deferrals: Lifeline or liability?
Continuity in a Crisis
New directions: Debt purchasers have moved to deleverage and refinance. What are the factors driving them?
A broader view: Cambridge Building Society’s Victoria Stubbs explores the broadening responsibilities chief risk officers now face
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