The Kalifa Review

An independent strategic review of UK financial technology (FinTech) has been published in line with the emerging prominence of this sector and the UK’s highly regarded fintech reputation. Also known as ‘The Kalifa Review’, its purpose is to aid the adoption and growth of Fintech in the UK. The review illustrates a strategy and delivery…

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Lenders’ Reluctance Over 90% Mortgages Grows

Mortgages with a 90% loan-to-value (LTV) are likely to remain scarce whilst employment figures and the economy remain fragile, expert lenders have warned.  With a second lockdown announced for England, an unemployment spike is expected, making lenders wary of committing to anything high-risk.  At a recent video conference organised by St James Place, various experts…

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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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Eviction bans for England and Wales lifted

As of Monday, the eviction ban in England and Wales has ended, leaving up to 55,000 households vulnerable, according to campaigners. Although there has been mounting pressure from councils and charities alike, the legal eviction process can now be progressed fully through the courts. The government’s reasoning for this is that they already extended the…

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FCA Issues Stark Warning to High-Cost Lenders

The Financial Conduct Authority (FCA) have issued a stark warning to high-cost lenders in regards to their re-lending practices. They have raised ‘significant concerns’ over the marketing practices used by high-cost lenders which they believe drive vulnerable borrowers into further debt. The warning comes after a review of 250,000 customers of the short-term, high-cost credit…