Wonga enters administration

Latest News

Wonga enters administration

By Adam Cadle

31/08/2018

Wonga Group Limited and WDFC UK Limited (Wonga), have decided to place themselves into administration.

Insolvency Practitioners from Grant Thornton are in the process of being appointed as administrators to manage the firms’ businesses and affairs.

Grant Thornton plans to update customers once the firm is in administration.

The FCA will continue to supervise Wonga once it is in administration and is in close contact with the proposed administrators with regard to the fair treatment of customers.

Customers should continue to make any outstanding payments in the normal way. All existing agreements remain in place and will not be affected by the proposed administration. However, the firm is no longer able to issue new loans.

Customers can get free and impartial guidance from the Money Advice Service

The UK housing market in 2024

The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.

Intergenerational lending

MoneyAge News Editor, Michael Griffiths, hosts Family Building Society BDMs, Amar Mashru and Arif Kara, to discuss intergenerational lending and explore ways that buyers can use family income to help increase their borrowing capacity when applying for a mortgage

Helping landlords make their cash work harder

MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.