17th January 2022 - Credit Connect

Families suffering from ‘fuel stress’ set to treble overnight

17th January 2022 Arrears and Recoveries | #energy debt

The number of households suffering from ‘fuel stress’ spending at least 10 per cent of their family budgets on energy bills is set to treble overnight to 6.3 million households when the new energy price cap comes into effect on 1st April according to new research by the Resolution Foundation. The research shows that the…

Number of small businesses falling behind on loan repayments increases

17th January 2022 Commercial Collections and Recoveries | #business loan defaults

A survey of lenders by the Bank of England shows that the number of small businesses falling behind on their loan repayments rose in the three months to the end of November. The analysis shows that fewer medium-sized businesses defaulted on corporate debt repayments in the period, while the number of large companies defaulting remained…

Consumer finance new business grows by 33%

17th January 2022 Consumer Lending | #consumer lending

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 33% in November 2021 compared with the same month in 2020. In the eleven months to November 2021, new business was 14% higher than in the same period in 2020. The credit card and personal loan sectors…

Consumer car finance new business increased by 33% in November

17th January 2022 Consumer Lending | #motor finance

New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported new business volumes up in November 2021 by 33% compared with the same month in 2020. In the eleven months to November 2021, new business volumes were 9% higher than in the same period in 2020. The…

Second charge mortgages grew by 36% in November

17th January 2022 Arrears and Recoveries | #mortgage debt

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 36% in November 2021. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…

Asset finance market grew by 5% in November

17th January 2022 Commercial Collections and Recoveries | #asset finance

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in November 2021 by 5% compared with the same month in 2020. In the eleven months to November 2021, new business was 16% higher than in the same period in 2020. The…

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