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Interest Rate Rise – The Impact Upon Motor Retailing
“The 0.25% interest rate announced by the Bank of England may be modest and still sees interest rates at exceptionally low levels, but it changes the mood-music for lenders and consumers, many of whom will never have seen rates increase.”
This is the view from Abe Smith, CEO & Founder of financial technology experts Dealflo. He sees the increase as creating a new tone in a financial services market that has grown strongly over recent years; adding;
“With the Bank of England signaling the potential for further rises, we expect to see lenders become more risk averse in their underwriting and consumers becoming more cautious in their spending plans. This is exactly what the Bank would hope to achieve.”
As well as the changes in buyer and lender behaviours, Smith anticipates the increase in arrears that anecdotally is already emerging gaining momentum. Alongside this, there is the inevitable exposure to accusations of mis-selling. It is something Smith urges dealers and financers to mitigate concluding:
“The rate rise carries an inherent risk that people who find themselves over-committed financially may seek to mitigate their situation by pointing to poor sales practices and claims of mis-selling. In a motor market that is itself slowing, dealers and lenders need to look again at their agreement processes and technology, so that both lenders and customers are protected alike.”
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CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
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SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
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