Financial inclusion in sight for UK’s renters

We have been following the journey of Lord Bird’s Creditworthiness Assessment Bill through the parliamentary process and I was very thrilled to see it progress through the committee stage at the end of last week, with widespread support and no amendments. Read more

The Left Behind Generation Of “Second Steppers”

Gross mortgage lending in 2018 has been predicted to rise for the eighth year in a row to reach its highest level since 2007, according to the fifth annual market review and forecast from the Intermediary Mortgage Lenders Association’s (IMLA), published today. Read more

ONS and Castlight track consumer spending

Women’s leggings and mashed potato will now be used instead of pork pies and lager sold in nightclubs to help calculate the cost of living in the UK. These changes, reported by the BBC, are part of the Office for National Statistics’ (ONS) annual review of the basket of goods used to measure the UK’s inflation rate. Read more

FCA Warns Second Charge Lenders to Review Affordability Checks

Mortgage Strategy has published a story today revealing that the FCA has criticised poor affordability checks in the second charge market, and details the industry’s failings in a “dear CEO” open letter to all second charge lender executives. Read more

KYC – As Easy As ABC

A number 3 as usual, sir? Your usual table Mrs Jones? Whether its a quick trip to the barber or a regular visit to the local Indian restaurant, we appreciate it when people who are providing us with a service know us and what we like. We feel we are in the hands of professionals and that they care. Read more

Acute Debt Must Never Be The End Of The World

Why Castlight shines a light on debt prevention.

 

Formula

This apparently is the formula behind the calculation which pinpointed this year’s Blue Monday – the day in January claimed to be the most depressing of the year. Read more

Creditworthiness is this week’s Big Issue

Lord Bird’s Creditworthiness Assessment Bill 2017-19 will get its second reading in parliament on Friday and the Castlight team will be following its progress carefully. Read more

Creditworthiness is on a Journey, but it needs a Passport

Next week the Creditworthiness Assessment Bill 2017-19 gets its second reading. For the UK’s 11 million renters, this is a bill, which if passed, will level the playing field with mortgage payers. Read more

Interest Rate Hikes Raise Red Flags

I talked about the new international accounting standard, IFRS 9 in this blog last week. And its still on my mind, particularly after last week’s interest rate rise and the clear signal from the Bank of England that there are more hikes to come. Read more

Gambling & Debt Crises – News we could have Avoided

Two financial news stories broke this week which have particularly saddened me. Two tales of situations where the financially vulnerable in our society have suffered unnecessarily, perhaps even been exploited. And this is heartbreaking, as the human pain and suffering could so easily have been prevented. Read more