9th March 2022 - Credit Connect

Value of mortgage advances increases to £70bn

9th March 2022 Consumer Lending | #mortgages

The latest mortgage lenders’ statistics suggest the housing market is cooling down, according to property experts. In the latest figures published by the Bank of England, the outstanding value of all residential mortgage loans was £1,613.4 billion at the end of Q4, 2021 – up 4.7% on the same period the year before. The value…

Fraud victims lose £28K to bank transfer scams every hour

9th March 2022 Consumer Lending | #fraud

Victims are losing more to bank transfer scams every hour than the average UK worker earns a year, new research from Which? has revealed. A voluntary reimbursement code on bank transfer scams, also known as authorised push payment fraud (APP), was introduced in May 2019, and most major banks have signed up. It instructs them…

Consumer card spending grew 13.7% in February

9th March 2022 Consumer Lending | #spend

Latest data from Barclaycard has revealed that spending on essential items rose 12 per cent in February. This increase was largely driven by an 11.2 per cent rise in spend on fuel, likely due to climbing prices at the pump, as well as the easing of work-from-home guidance encouraging more Brits to commute. While supermarket…

57% of people experiencing financial difficulties as a result of cost of living rises

9th March 2022 Arrears and Recoveries | #cost of living

Research by KIS Finance has revealed that as a direct result of the rising cost of living, 57% of people in the UK are either already struggling financially, or expect to do so in the very near future. With no solution to the war in Ukraine in sight, the situation is set to get much worse, as…

Registry Trust appoints Non-Executive Director

9th March 2022 Appointments |

Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has appointed Polly Mackenzie, CEO of think tank Demos, as a Non-Executive Director. As former Founding Director of the Money and Mental Health Policy Institute and Director of Policy Innovation at 10 Downing Street, MacKenzie brings a…

More than 5.5m adults fell victim to identity fraud in the last 12 months

9th March 2022 Consumer Lending | #fraud

Nearly one in 10 smartphone users in the UK (9%), as many as 5.7 million people, have fallen victim to identity fraud in the last 12 months, according to research by GBG, the experts in digital identity. GBG’s State of Digital Identity Report 2022 has revealed that young adults aged 18-to-24 were hardest hit with…

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