Credit, Collections & Insolvency News
The Government has announced £500m of grants to help families struggling with the cost of living to help households recover from the pandemic. The new Household Support Fund will support millions of households in England and will be distributed by councils in England, who know their local areas best and can directly help those who…
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The latest Property Tracker survey by the Building Societies Association (BSA), has revealed that the housing market is looking resilient despite the end of Government support schemes looming. Although the Coronavirus Job Retention Scheme (furlough) will finally close at the end of the month which may lead to additional redundancies, just over a third of people…
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Latest Bank of England data has shown that net mortgage lending increased by £5.293 billion in August, bouncing back from July’s net repayment of £1.758 billion. Gross mortgage lending increased to £21.5 billion, recovering from a low seen in July when lending came in at £16.6 billion. Meanwhile, mortgage approvals fell to the lowest level…
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A further three energy retailers have ceased trading impacting 233,000 customers. The failures of Igloo, Symbio and Enstroga Energy take the total number of market exits so far this year to 12, exceeding the previous record of nine set in 2019. Together the suppliers represent less than 1% of domestic customers in the market. Under Ofgem’s safety net, the energy supply…
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The UK’s furlough support scheme, introduced in March 2020 and helped pay the wages of 11.6 million workers after Covid-19 forced large parts of the economy to close, is to end today (Thursday 30th September). HMRC figures indicated that at the end of July it was still supporting the incomes of around 1.6 million workers. The…
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