The UK government has announced new rules to regulate the Buy Now, Pay Later (BNPL) sector, ending what it calls the “Wild West” of unregulated lending. Key takeaways: đšÂ Affordability checks will be mandatory to protect consumers from unsustainable debt. đšÂ Lenders must be FCA-approved, ensuring fair treatment and transparency. đšÂ BNPL ads must be clear & balanced, avoiding…
Quadrin are a valued partner to many Investment Banking and Private Equity clients when they are investing and lending into the bridging sector, with the broadest network of relationships in the market. Our Head of Business Development, Gus Pastras, spoke to Bridging Loan Directory about what makes the sector unique, and how Quadrin are at the…
BNPL lender Zilch has started reporting its 3 million customersâ borrowing data to UK credit bureaus, in a way that will impact credit scores of up to 3 million customers. Until now Zilch has had partnerships with individual credit bureaus like Experian, but has only used this data as part of its affordability assessments to perform âsoftâ credit checks…
Our previous post on Buy Now Pay Laterâs (BNPLâs) focussed on the possible transparency issues that can arise when utilising them, particularly regarding the silent accumulation of debt that has become increasingly concerning. The use of BNPLâs can further fuel a culture in which âfast fashionâ and excess consumption are viewed as both advantageous and…