Receivables in Advantange, the non-prime car finance arm of S&U Financial, have grown 22.8% on 2017, to £258m, as the lender tightens underwriting on its applications.…
Moneybarn volumes up 10% as it sheds higher-risk business
Moneybarn has reported a 10% year-on-year growth in business volumes for the four months to April, as it looks to shed higher-risk business.…
TCFC owner sheds stake as firm heads towards solvent dissolution
American private equity firm Pine Brook has shed its stake in The Car Finance Company (TCFC), as the subprime lender heads towards a solvent dissolution this year.…
Advantage revenues up 30% to £78m as underwriting tightens
Revenues in Advantage, the motor finance division of consumer lender S&U, hit £78m in 2017, up 30% from the previous year.…
Moneyway revenues grow 16% as legacy subprime impairments rise
Moneyway revenues rose 16% to £47.1m in 2017, parent Secure Trust Bank has reported in its first full-year results since moving out of subprime consumer finance.…
Provident appoints Le May as CEO, reshuffles senior team
Provident Financial has appointed Malcolm Le May as chief executive officer, supported by a reshuffling among the company’s senior roles.…
Execs sue Moneybarn parent over unfair dismissal: reports
Four former executives at Provident Financial have launched claims at the employment tribunal over their unfair dismissals, according to reports.…
Moneybarn parent faces £120m loss from personal loan division
Provident Financial Group (PFG), the parent company of Moneybarn, said its subprime personal loan division is facing a £120m loss, “at the upper end” of guidance provided in August.…
iVendi: “soft” credit check footprint makes online more enticing
Used car buyers are 11 times more likely to enter personal details into dealers’ online portals if doing so does not leave a footprint on their credit file.…
Lenders maintain squeeze on unsecured credit: BoE survey
Unsecured credit to UK households has registered a contraction in Q4 2017, with lenders expecting the trend to continue in the coming quarter.…