Lending trends 2024
Over the past year there has been a shift in lending risk within the credit union sector. In 2023, credit unions in Great Britain approved nearly 6 out of 10 loan applications. However, as of 31 August 2024, this approval rate has dropped, despite applicants credit risk being lower. What are these lending trends telling…
Read MoreProving your identity
All NestEgg lenders are regulated by the Financial Conduct Authority and Prudential Regulation Authority. Due to this, credit unions are required to confirm your identity before you join and take out a loan. When you complete an online application, NestEgg will use information from a Credit Reference Agency to check your identity. In most cases…
Read MoreNew features for 2024
NestEgg has had a very busy 2024 so far. Not only has the launch of our award-winning Broker Platform been a success, but we’ve also been announcing lots of new features for our partner lenders. Here is a roundup of the latest releases. Some have been made available in the last couple of months and a…
Read MoreThe benefits of joining a payroll deduction scheme with a credit union
Managing finances should not be a headache. By joining a payroll deduction scheme with a credit union, a portion of money can be deducted from your salary (after tax) and used for savings or loan repayment. Credit unions are ethical and responsible institutions that promote financial well being and inclusion for their members. Many have…
Read MoreNestEgg wins the Fast Solution award at the FCA TechSprint
NestEgg presented its Broker Platform at the FCA TechSprint last week, winning the Fast Solution’ award. The judging panel recognised the rapidity with which our platform can scale to connect declined borrowers to community finance. This means: A better decline journey for applicants Millions of pounds interest saved by borrowers living in the 20% poorest…
Read MoreWhat is a debt relief order?
A Debt Relief Order (DRO) is a formal debt remedy. A DRO is an alternative to bankruptcy that is designed for people who cannot afford to pay off their debts. DROs can offer a fresh start to those who are struggling with unmanageable debt. How it works DROs are for people with lower levels of…
Read More