Responsible lending in consumer finance
39 million uk consumers have outstanding borrowing totalling £1.66 trillion as of october 2019, and the current global economic crisis has increased the number of people in financial distress, many of whom will turn to lenders to make ends meet.
The requirement to evidence and ensure responsible lending is paramount. The challenges for lenders with regard to affordability assessments are even more apparent today than ever. Striking the right balance when it comes to affordability decisioning is critical.
This mini-paper provides a best practice guide to getting the balance right when it comes to affordability and assessing a customers' individual circumstance.
Download our 'Responsible lending in consumer finance' paper to learn more.
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