The Government will fail to protect consumers fully with its Consumer Credit Bill, which began its second reading in the House of Lords last week, credit information expert checkmyfile.com has warned.The Bill seeks to update the Consumer Credit Act with measures such as forcing credit providers to make deals more transparent, tackling loan sharks, providing a way for consumers to report unfair practices and helping tackle over-indebtedness. But checkmyfile.com says the Bill doesn’t tackle issues such as giving consumers the right to demand a reason for being refused credit. It also makes no provision to force lenders to use data from all three credit reference agencies rather than just one, so decisions will continue to be made on a subset of a consumer’s financial situation rather than the whole picture, which checkmyfile.com says would result in a fairer assessment.
Home of Choice is in talks to acquire smaller networks and says it has recruited a well known industry figure to help design exclusive mortgage products. Richard Coulson, managing director of Home of Choice, predicts the network will double its current 1,100 applications in the next three years, to over 2,000. He says it has […]
Quantum Mortgage Brokers is to resign its directly authorised status by applying to join the Home of Choice network. The decision to apply to become an appointed representative came after months of deliberation and at a time when the boutique brokerage is seeing a growth in business. Jonathan Burridge, managing director of Quantum, says: “We […]
More than half of all mid-market businesses expect insolvencies to rise over the next 12 months, reveals research published by Pricewaterhouse Coopers. Less than one in seven businesses believe insolvencies will fall.
Dashboard Software is to launch a branding and associated website at the Mortgage Business Expo London.Dashboard Software will be launching the new version of Dashboard plus additional associated services for the mortgage intermediary market place. To pull the services together under one banner, Dashboard Software will relaunch with a new look and website at Mortgage […]
The UK loves an underdog. There is something irresistible about the story of the little guy standing up to the established players and leaving them with a bloody nose, whether it is Henry Cooper putting Muhammad Ali on the mat or the Wallabies trouncing the Kiwis in rugby. At the Conservative Party conference, LendInvest championed […]
News and expert analysis straight to your inboxSign up