MMP Financial Limited enters administration

Latest News

MMP Financial Limited enters administration

By Michael Griffiths

11/12/2019

MMP Financial Limited, trading as My Money Partner and Swift Sterling, has been placed into administration.

The FCA made the announcement that Chris Laverty, Trevor Patrick O’Sullivan and Helen Dale of Grant Thornton were appointed as joint administrators on 9 December 2019.

MMP Finance Limited is a payday lender, which lends small sums to customers until the next payday, or for a period of a few months.

Following the appointment of the joint administrators, who have said they will update customers as soon as possible, the FCA revealed there will be no new lending activity, and that all outstanding loans will remain subject to the terms agreed with the company.

According to the company’s terms and conditions, borrowers should continue to make payments in the usual way.

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.