View more on these topics

Debt data rethink after industry split

Plans for a data-sharing service to help lenders with the consumer debt crisis have been scaled back after failing to achieve industrywide support.

The Personal Credit Dashboard initiative was devised by Apacs, a trade body for payment services. It was initially designed to enable the Council of Mortgage Lenders, the British Bankers’ Association and the Finance and Leasing Association to share data on debt trends and pass this on to their members.

Plans are being finalised in behind-the-scenes talks but documents seen by Money Marketing and verified by Apacs show that the BBA and the FLA are unwilling to participate in full so the scheme will only share publicly available data.

Apacs says the Personal Credit Dashboard will provide an overview of debt statistics to allow mortgage, loan and credit card firms to tweak their underwriting systems to reflect changing debt characteristics.

Apacs spokeswoman Sandra Quinn says: “We were keen to use data not in the public domain but we are aware it is being scaled back now.”

Brokers say rising repossessions due to the growth in the specialist market, where borrowers are more likely to default, is partly due to increasing levels of unsecured debt.

Hamptons International Mortgages managing director Kevin Duffy says: “The availability of unsecured credit is undermining the secured side.”


Edeus picks 50 packagers for panel

HBOS will make its push into the equity-release market through either its Halifax or Bank of Scotland brands, says intermediaries managing director Nigel Stockton. The giant lender had been widely expected to offer products through its specialist brands of BM Solutions or The Mortgage Business. But the bank has delivered a blow to the equity-release […]

Product matters

One of the most successful fund-raisers of venture capital trusts over the last two years has been Octopus Asset Management, raising more than 100m for its Eclipse VCTs. However, being successful at fundraising does not necessarily equate to success at investment – just look at the Murray VCTs of the late 1990’s for example. Rather […]

Way plan shields against IHT

Way Group has set up an estate planning vehicle that it claims will allow policyholders to safeguard unlim ited funds from inheritance tax. The Way estate transfer plan uses an absolute trust to hold funds for future beneficiaries so a gift qualifies as a potentially exempt transfer. The investor decides how much of the assets […]

Trust lore

I have heard a lot about the recent changes to the rules covering placing assets under trust. I have inherited a lump sum and want to know if it makes sense to use trusts to mitigate inheritance tax.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm