Credit, Collections & Insolvency News
Latest data from the Ministry of Justice (MoJ) has indicated that mortgage repossession claims increased by 40 per cent over the past year, as higher interest rates and rising living costs impact borrowers’ ability to service their home loans. The figures show that there were 4,035 mortgage possession claims lodged in the first quarter of…
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Consumer confidence has risen for the fourth month in a row to its highest in 15 months as households take a more positive view about the economy and their finances, despite inflation still in double digits in May. GfK’s headline confidence index showed a rise to -27 in May from -30 in April, moving further…
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Almost two fifths of small businesses in the hospitality sector are predicting growth in the next three months (38%), more than twice the proportion compared with last quarter and on a par with the figure 12 months ago (40%), according to new findings from Novuna Business Finance’s Business Barometer. The positive news continues when looking…
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Data from UK Finance shows that the number of households falling into arrears increased in Quarter 1 of 2023. The figures showed that were 76,630 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in the first quarter of 2023 2% greater than in the previous quarter. The figures also showed that…
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The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) Boards have appointed two new Deputy Chairs, Margaret Obi and Edward Sparrow to the FCA’s Regulatory Decisions Committee (RDC) and the PSR’s Enforcement Decisions Committee (EDC). The two committees are responsible for taking certain regulatory decisions on behalf of the FCA and PSR. Members are…
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