Posts by Adrian Davies
How should Northern Ireland credit unions respond to rising interest rates and affordability issues?
With rising interest rates, the cost of living crisis and affordability issues, Northern Ireland households are under financial pressure. It’s becoming harder for you to lend to new and existing members and support your community. Overall, accept rates for loans fell by 5% between 2022 and 2023 in line with the fall in credit scores.…
Read MoreLoan Sharks: Who is really behind the mask?
What does a loan shark look like to you? When thinking about a ‘loan shark’, the chances are that the image that springs to mind is the ‘TV soap gangster’. But in reality they are not always that easy to spot. They could just as easily be that neighbour who always stops to chat, a…
Read MoreHow financial associations affect your credit profile
A financial association is a link between two or more people who have shared financial accounts or products. This includes joint bank accounts, credit cards, mortgages, and loans. Financial associations can affect your credit profile, as their credit history may also be taken into account when lenders make credit decisions. If a financial associate has…
Read MoreMutual Growth Seminar
The cost of living crisis and rising interest rates means it’s a tough time to lend. NestEgg’s Mutual Growth Seminar will help participants explore and discuss strategies for growing the mutual sector at this difficult time. The day will be structured around four fireside chats, covering affordability, products and technology. What is the data telling…
Read MoreCredit repair services: are they worth it?
Having a good credit score is important for your financial wellbeing. A good credit score can help you get loans, favourable interest rates, and mortgage approval. For these reasons, it is understandable why people with ‘poor’ credit scores want to improve it as much and as quickly as possible. This has led to the rise of…
Read MoreRising mortgage rates and affordability
Rising mortgage rates and affordability is a big issue for lenders right now. Can people with mortgages afford to borrow? It’s important to know how much costs have risen and what impact that has on affordability and credit risk. Our last blog explained how those with better credit scores (who are more likely to have…
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