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.
Advice and suitability
Managing the payment deferral crossroads
Advice for retail lending and consumer credit firms
Podcast: Affordability and responsible lending
Huntswood’s Matthew Drage, Paul Dyer, and Richard Brown zone in on the topic of affordability and responsible lending within the consumer finance marketplace
Podcast: The FCA Business Plan 2020
Huntswood's Matt Drage and Paul Dyer discuss the FCA's business plan for 2020 and what to look out for over the coming months.
Regulatory Update: FOS 2020 / 2021 plans, budget and future strategy
The Financial Ombudsman Service wants to hear your thoughts on its plans and budget for the next financial year