In Reference Appointments & Updates
Webio has announced that it ranked number two in the 2020 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland. The Technology Fast 50 award program
recognises the fastest-growing technology companies in Ireland and is based on the percentage of operational revenue growth over a four-year period. With revenue growth of 2,794%, Webio became one of three new entrants to make it into the top three. Webio’s CEO, Cormac O’Neill credits
the team’s commitment and passion for delivering an award-winning product that positively impacts clients and their customers. He said, “the world will not be the same post COVID-19. Digital transformation has accelerated, and conversational engagement has become central to just being there for your customers. A big thank you goes to all the Webio
team, without whom we would not be here today. Thank you to all our customers and partners who have trusted Webio and leveraged our conversational AI and messaging platform to transform how they engage with their customers. We really do love this journey we are on
with our customers, working hand-in-hand with them to ensure that even the most difficult of customer conversations are had with empathy and understanding.”
Together has raised the maximum loan-to-value to 70% across its first and second charge mortgage products. The finance firm has also reduced the minimum loan size
on its second-charge products from £50,000 to £30,000, offering intermediaries more options for their clients looking for lower-value loans. The new product changes were introduced this week
following feedback from brokers, and are available to Together’s key partners and directly to customers. Sundeep Patel, the lender’s head of intermediaries, said:
Sundeep Patel
“The housing market remains strong, with average UK asking prices rising by 6.6% in the year to December, and we’re making these changes in response to the current demand for mortgage lending. “We have some of the most flexible criteria in the specialist mortgage market
and these latest changes will support those clients whose borrowing needs are not met by high street lenders; these could be self-employed workers, or those in employment who’ve had minor credit issues in 2020, possibly caused by the Covid pandemic.” The government introduced a Stamp Duty holiday in July – bolstering demand
for mortgages – but the market had been strong before, while house price growth will remain “resilient” into next year according to the latest predictions, he said. Mr Patel added: “We have listened to feedback from our trusted partners
and are pleased to be introducing these new personal finance products to help more brokers achieve the best possible outcomes for their clients.”
FICO has released its analysis of UK card trends for November 2020. “Our new data shows that despite the introduction of the second national lockdown, credit card spend increased in November, as Christmas shopping got underway, boosted by Black
In response to the Bank of England Money and Credit statistcs, Jonathan Sealey, CEO of specialist short term lender Hope Capital, says record-breaking numbers will continue to put pressure on the sector, and also on the government to act on the SDLT holiday deadline. He says: “Another record month in mortgage approvals
for November is a real positive for the housing market of course. And to see that the strength of activity has almost fully offset the significant weakness earlier in the year demonstrates how powerful the incentive of the stamp duty holiday has been. “However, it is also likely to add to more pressure on the government to
Jonathan Sealey
extend or modify the 31 March deadline for the SDLT holiday. It will also add to pressure on the conveyancing sector as each month they deal with record- breaking numbers of purchases. “That is why specialist and short-term finance will play a critical role in
the coming weeks, as that pressure increases with buyers hoping to complete their purchase before the end of March. Buyers and brokers need to look at alternative ways of getting the deal over the line at speed, and the specialist finance sector is in a position to make that happen.”
January 2021
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Friday,” explained Stacey West, principal consultant for FICO® Advisors. “Spending on UK credit cards is now
only 2.6% lower than a year ago; either consumers are feeling confident enough about their finances to increase their spending levels or they simply need the cheer of Christmas to counteract the continued gloom of COVID-19, whether they can afford it or not. The concern is that a proportion of spend is being funded by the current government financial support for those on furlough. Payment holidays on existing credit agreements are also probably taking the pressure off outgoings and giving some consumers a false sense of financial wellbeing. “There could be a real issue after
Christmas as payment deferrals come to an end in early 2021 and furloughs at the end of April (unless they are once more extended). Christmas debts will be unmanageable for some. The sudden introduction of tier 4 and the anticipation that these measures will be in place for months means extra pressure and hardship on many businesses, especially at one of the most profitable times of year.”
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