Wednesday October 21, 2020

Not-for-profit debt advocacy group eyes commercial future

23rd December, 2014

Not-for-profit organisation New Beginning, which represents struggling debtors, intends to establish a commercial arm and has its sights set on entering the lending market.

It emerged recently that the debt advocacy group plans to purchase 15,000 mortgages from lenders. The plan would see distressed borrowers offered the option of renting their homes, with a right to repurchase the property if their circumstances improved.

The group, which was set up in 2010, has funding to buy up...

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