Industry News

Paymex News and views - Issue 1
22nd Dec 08 - 11.07

Welcome to the first issue of Paymex "News and views," which we will be distributing 6 times a year. Our aim is to keep you informed about the work of the Paymex Group, our product developments and about issues which affect both us, and the people…
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OFT publish response to the responsible lending scoping paper:
19th Dec 08 - 10:57

The OFT has today published a response to the consultation on the scope of its irresponsible lending project, (see http://www.oft.gov.uk/news/press/2008/147-08). The consultation on scope was launched on 1st August 2008, following changes to the Consumer Credit Act, which included the identification of irresponsible lending as a matter…
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CML mortgage arrears figures shock:
18th Dec 08 - 11.02

On 18th December, the Council of mortgage lenders issued a press release which stated that they anticipate that by the end of 2009 some 500,000 households will be 3 months or more in arrears with their mortgage and that there will be 75,000 mortgage repossessions.
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Bank of England Quarterly Bulletin:
Wed 17th Dec 08 - 10:09

The latest Bank of England Quarterly Bulletin for the 4th quarter of 2009 was published earlier this week and showed that some 40 % of homeowners owe more than £90,000 in secured debt.
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Lenders still need to do more to help mortgage borrowers in arrears
19th Nov 08 - 17:57

The Paymex Group, one the UK’s largest commercial providers of financial solutions products, has seen a dramatic increase in the number of new customers who have mortgage arrears.
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OFT warns consumers about misleading IVA mailings
Thu 5th Jun 08 - 17:57

The OFT have launched a warning in regards to unsolicited mailing which advise people who are on an individual voluntary arrangement (IVA) to cancel their agreement and instead opt for an alternative debt management solution such as bankruptcy or a debt management plan.
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2008 Q1 Insolvency figures released
Thu 8th May 08 - 15:20

The first quarterly figures from the Insolvency Service were release on 2nd May 2008. They show that 25,264 individual insolvencies in England and Wales in the first quarter. This is a 1.7% increase on the previous quarter and a decrease of 13.2% on the same period a year ago.
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