In the same month that the Bank of England base rate has risen to 0.75% – the highest level since 2009, debt growth has fallen to its lowest level in over a year. According to the August 2018 Money Statistics, produced by The Money Charity, debt growth per adult slowed to £900.74 in the year…

New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market increased by 2% in June. Commenting on the June 2018 new business figures for the second charge mortgage market, Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association (FLA), said “The second charge…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in June by 9%, compared with the same month last year. Credit card and personal loan new business together grew by 10% compared with June 2017, while retail store and online credit new business increased by 5%. Second charge…

UK Finance has published its latest Mortgage Trends update for June 2018 which has revealed that there were 37,400 new homeowner remortgages completed in the month, some 8.4 per cent more than in the same month a year earlier. The £6.8bn of remortgaging in the month was 13.3 per cent up year-on-year. Other highlights from…

UK tech firm CreditLadder is one of three Fintech companies to win through to the final of HM Treasury’s Rent Recognition Challenge (RRC) announced by Chancellor Philip Hammond as part of the Autumn budget statement in November last year. The RRC was launched to help develop applications that will help renters boost their credit scores,…

Here is an overview of The Money Charity’s latest statistics for August 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. Per adult in the UK that’s an average debt of…

A  new report by Which? has revealed how the broken deposit system is placing financial pressure on renters, with some tenants facing weeks to get their money returned or having to challenge charges that they feel are unreasonable. The consumer champion’s findings reveal that two in five (43%) renters that faced moving costs used a…

The latest RICS UK residential market survey suggests that supply issues could lead to rents increasing by 15 per cent by the middle of 2023. The most striking feature of the July 2018 survey is the continued reduction of new property being put on the market in the lettings sector with 22% more respondents seeing…

The Bank of England (BoE) Monetary Policy Committee (MPC) has today voted to increase interest rates to 0.75 percent, its highest level since 2009. Commenting on today’s decision by the Bank of England’s Monetary Policy Committee to raise interest rates by a quarter of a percentage point, StepChange Debt Charity urges policymakers to keep a…

Lenders working closely with the Financial Conduct Authority (FCA), have agreed on common standards to help existing borrowers on reversion rates who are up-to-date with repayments but, because of stricter affordability criteria, are currently ineligible to move to an alternative product provided by their lender. The cross-industry voluntary commitment has been announced by UK Finance,…

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