21st April 2023 - Credit Connect

Business confidence returns to positive but remains fragile

21st April 2023 Commercial Credit Management | #business

Business confidence in the UK has returned to positive territory for the first time in a year but remains fragile amid a backdrop of economic volatility, a survey of business leaders has found. Sentiment tracked by ICAEW’s Business Confidence Monitor (BCM) – one of the largest and most comprehensive quarterly surveys of UK business activity…

Homeowners completed record overpayments in 2022

21st April 2023 Consumer Lending | #equity release #mortgage overpayments

Households made an unprecedented £23.3 billion of mortgage overpayments last year, or £64 million per day, as mortgage rates spiked in the wake of the mini-budget new data from the Equity Release Council has revealed. The September fiscal statement prompted those able to do so to make lump sum payments and reduce their loan sizes…

Over four in ten consumers have been targeted by fraud

21st April 2023 Consumer Lending | #fraud

New data published by TransUnion, shows that consumer over four in ten (43%) UK consumers who said they have been targeted by fraud were targeted by phishing in the period between September and December 2022. The data also showed that smashing, fraudulent text messages meant to trick you into revealing data (40%) and vishing fraudulent…

Money Charity Chief Executive to Chair Equity Release Standards Committee

21st April 2023 Appointments |

The Equity Release Council has announced that it has appointed Michelle Highman, Chief Executive of The Money Charity and a former member of the Financial Inclusion Commission’s advisory panel as the Chair to its standards committee. Highman also spent 13 years with the then Financial Services Authority playing a leading role in the implementation of…

Debt and arrears levels rocketed for Scottish debt charity last year

21st April 2023 Arrears and Recoveries | #scottish debt

StepChange Debt Charity has revealed the toll a year of increased living costs has had on Scots’ finances. Despite government interventions to help with soaring costs, the average amount a StepChange client is behind on household bills has increased by a shocking 68%, from £1,739 in 2021 to £2,920 in 2022. Among arrears on essentials,…

Almost one in four consumers are financially vulnerable

21st April 2023 Arrears and Recoveries | #vulnerable

New research from Tink has found that almost one in four (23%) consumers are ‘financially vulnerable’, with the majority (56%) expecting their situation to get worse over the next 12 months. The research also found that 56% say the situation will worsen as they expect their discretionary income to fall over the next 12 months.…

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