However, the FLA said: “The market, however, remains in a strong position to meet new demand and forbearance requests during the months ahead.”
Within a week, Nucleus will start accepting applications from brokers via its myNucleus portal.
RealCheck, designed by RealRates.com, uses bank data to help consumers understand what they can afford to borrow, and access accurate loan rates.
Loans Warehouse has chosen challenger credit reference agency Credit Kudos as its Open Banking provider.
The inaugural meeting, hosted by Nivo’s chief development officer Mat Elliott, took place via Zoom with industry leaders from lenders including United Trust Bank, Together, Optimum Credit, Paragon, Norton Finance, Shawbrook Bank, Central Trust, Equifinance, Step One Finance, 1st Stop Home Loans and Selina Finance.
Figures published by HM Treasury have revealed that £3.3bn has been approved to 83,000 businesses in the past week alone.
The decline will come as little surprise due to the figures covering the height of the coronavirus lockdown in the UK.
In the past week alone, more than £3.8bn has been provided to 94,000 organisations.
Jack Izzard of the The Great British Bounceback says that a flexible furlough scheme is the Treasury’s best shot at minimising economic damage.
Metro Bank will join 17 other lenders, including Bank of Scotland, TSB, Natwest and Santander, which have been accredited to the BBLS.