Due Diligence bad debts

Barclays Warn Bad Debts Could Lead to Cuts

Barclays have warned that they face making cost cuts as a direct result of the economic impact of the Coronavirus pandemic as their bad debt provisions are pushed to £4.3 billion.  The bank beat profit forecasts for the third quarter of 2020 however have put aside a further £608 million to help cover a potential…

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Due Diligence repossessions

Repossessions Loom as Mortgage Assistance Ends

The threat of repossessions looms for thousands of homeowners across the UK as measures introduced to protect them during the coronavirus pandemic are lifted.  As of next month, borrowers will no longer be able to ask their lenders to defer mortgage payments and a moratorium on repossessions for mortgage arrears will be lifted. Mortgage holidays…

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Due Diligence lenders

Lenders warned as repossessions restart

Lenders across the UK have been warned to ‘go easy’ on homeowners as repossessions restart following a period of halt.  Lenders have been warned by the Financial Conduct Authority (FCA) that they must treat the 1.8 million homeowners who have taken out a mortgage holiday over the past few months fairly.  Director of Consumer and…

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