Credit, Collections & Insolvency News
Payments using contactless cards have increased as the UK emerged from lockdowns and consumers started spending again according to latest UK Finance figures. The number of purchases made in May via contactless technology doubled compared with the same month a year earlier and was up 50% in May 2019 as contactless payments accounted for 49…
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Self-employed people are pessimistic about their chances of securing a mortgage while four in ten say they have been forced to turn their backs on being their own boss to improve their chances according to the latest research by The Mortgage Lender. The research among 1,000 UK-based self-employed people, who either own their home or…
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Aviva is calling for greater consumer protection from online financial fraud by urging government to include financial scams promoted by paid-for adverts in the scope of the Online Safety Bill. The company’s Fraud Report investigated fraud and financial scams relating to pensions, savings, investments, and insurance has found consumers have low trust in the internet…
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‘Covi Inflation’ is pricing many consumers out of summer spending according to research by Credit Karma. Consumers that planned on treating themselves to staycations, meals out and gym memberships are being priced out of the market, as costs of popular ‘post-lockdown items’ rise at more than double the pace of an already steep inflation rate.…
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Specialist equity release and lifetime mortgage brokers, KIS Finance says that it has seen enquiries for equity release increase by 110% when comparing the first half of 2019 to the first half of 2021. The company’s analysis indicated that the number of enquiries for equity release and lifetime mortgages was steady throughout 2019, then increased quickly during…
Read moreSmall business owners are feeling upbeat about the prospect of trading getting back to normal but are still struggling with their mental health and finding financial support, according to a survey from ACCA UK (the Association of Chartered Certified Accountants) and The Corporate Finance Network (CFN). All owners reported that business trading is at the…
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New research by Hodge Bank has found that 65% of over 50s are using technology more than they ever have, with almost half feeling they’re a lot more confident with their IT skills since the pandemic. The survey also showed that those aged 65 and over also embraced technology to chat to family and friends. More…
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Specialist car, van, and motorbike finance company, Moneybarn, has announced that it has selected challenger credit reference agency, Credit Kudos, as its Open Banking partner. Moneybarn will also be using Credit Kudos’s newest product, Assembly, an Open Banking decision engine that enables lenders to automate credit policies and implement real-time decisioning without the need for…
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New research from Citizens Advice has highlighted the potential impact of a cut to Universal Credit this October. The research of over 2,000 people on Universal Credit shows more than a third (38%) would be in debt after paying just their essential bills if their benefits drop by £20 a week. This is equivalent to…
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