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Barclays outsources repossessions management

Barclays has gone live with a repossessions management solution from xit2, the provider of outsourced process management for the lending industry.

xit2&#39s Repossession Exchange will automate Barclays&#39 repossessions, enabling clearer, faster communications between Barclays, Ekins Asset Management and the litigating solicitors involved.

Barclays was previously handing all of its repossessions manually through Ekins. This was hugely time consuming as the majority of potential cases are abandoned before they reach actual repossession. Through using xit2&#39s Repossession Exchange, Barclays can now do in minutes what would previously have taken hours.

Guy Weightman, head of business relationships at Ekins, says: “The repossessions process should allow for a large proportion of aborted cases. Having seen xit2&#39s Repossession Exchange we decided that by using this solution, we could work more efficiently and free up resources to concentrate on those cases that did reach repossession. We now have a swifter, better managed process and thus more time and resources to focus on adding value for our clients.”


A bonnie rise

Average house prices in Scotland are now £66,648, reveals the latest Scottish House Price index from the Bank of Scotland, writes Harriet Williams.The index records an annual rate of house price inflation of 7.3% for Scotland, compared to 21% for the UK as a whole. The UK average house price is £114, 035. The picture […]

Pink to offer service to those who fail exam

Pink Home Loans is to set up a service that will accept client leads from brokers who do not qualify to provide mortgage advice.The scheme is likely to be similar in structure to The Mortgage Operation&#39s TMO Direct scheme, which aims to provide mortgage advice and share the revenue from the deal.Mark Howell, marketing manager […]

New call centre for Black & White

The Black & White mortgage company has opened a new call centre and conference facility at its headquarters in Rugeley, Staffordshire. The £500,000 new building has been designed to support the latest sales and administration technology. The Black & White mortgage company specialises in arranging remortgages and offering a range of mortgage protection and related […]

Legal & General rewards “clean slate” borrowers

Legal & General&#39s Mortgage Club is offering two exclusive loans for previously credit impaired borrowers who have had a clean slate for the last 12 months. Borrowers can choose a discounted loan or a fixed rate. The discounted loan offers a reduction of 1.06% off the standard variable rate for three years. At the end […]

Japan Economic Insight

James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist

The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading


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