Credit, Collections & Insolvency News
Figures from the National Residential Landlords Association (NRLA) have indicated that about 35% of landlords are planning to sell a property this year, with many forced out of the market by rising mortgage costs, higher taxes and increased regulation. There are about 2.75m landlords in the UK, down 3.5% in the past year, research shows.…
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The UK economy has performed better than expected so far this year, and should avoid recession, leading the EY ITEM Club to upgrade its 2023 UK bank lending forecast for households and businesses. Total loans to households and businesses are expected to rise 1.2% this year (a net increase of £29 billion), improving on February’s forecast which…
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The Competition and Markets Authority (CMA) is to investigate whether a ‘failure in competition’ means consumers are being overcharged for groceries and fuel. The CMA says that while the evidence shows that the majority of fuel price increases are due to global factors, such as the Russian invasion of Ukraine, indications are that higher pump…
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A majority of young people enter adulthood ‘financially illiterate’, suggesting they are poorly equipped to make good financial decisions in later life according to new research from Compare the Market and MyBnk. The research suggests that 3.4 hours of financial education each month could significantly boost financial literacy for young people in the UK. Almost…
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