25th May 2023 - Credit Connect

Inflation falls to 8.7% – credit industry reaction

25th May 2023 Arrears and Recoveries | #inflation

Figures released by the Office for National Statistics on Wednesday show that UK inflation, as measured by the consumer prices index (CPI), came in at 8.7% for April, down from March’s 10.1% but far above the 8.4% hoped for by the Bank of England. The news sent expectations of further interest rate rises soaring and…

Scottish insolvency-related activity reaches 2023 high

25th May 2023 Insolvency | #insolvency

The number of insolvency-related activities in Scotland has reached its highest level this year, according to new research from R3, the insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows there were 122 cases of insolvency-related activity, which includes liquidator appointments, administrator appointments and creditors’ meetings, in Scotland in April. These…

Ofgem announces energy price cap fall

25th May 2023 Consumer Collections | #energy bill

Energy regulator Ofgem has announced its quarterly update to the energy price cap for the period 1st July – 30th September 2023. From 1st July, the energy price cap will be set at an annual level of £2,074 for a dual fuel household paying by direct debit based on typical consumption, which reflects recent falls…

Equity release lending falls 61% to £722m

25th May 2023 Consumer Lending | #equity release

Equity release lending plummeted by 61% to £722 million in the first three months of the year compared to 12 months ago, following turmoil in the mortgage market after the mini-Budget according to research by equity release specialist, Key. The data showed that plan sales dropped from 12,551 to 6,975 while the value of new…

Rise in unsustainable budgets

25th May 2023 Arrears and Recoveries | #income

A new report by Christians Against Poverty (CAP) report has revealed a sharp rise in unsustainable budgets with the average person £242 short each month The research found that there has been a rise in the proportion of CAP client budgets that are unsustainable each year over the past five years, apart from 2020 when…

Inflation falls to 8.7% – business industry reaction

25th May 2023 Commercial Credit Management | #inflation

New data from the Office for National Statistics (ONS) shows that inflation fell to 8.7% in April, down from 10.1% in March. The figure is higher than economist forecasts of 8.2 per cent and above the 8.4 per cent projection from the Bank of England. Annual food and drink price inflation, which rose to its…

Assetz Capital appoints Non-Executive Director

25th May 2023 Appointments |

Assetz Capital has announced that it has appointed David Allanson to its board as a Non-Executive Director. Following a 30 year career in commercial lending, latterly as Regional MD, Lloyds Corporate Banking, Allanson has for the last 6 years taken up several non-executive/board advisory roles, across multiple sectors across Financial Services, Hospitality, Manufacturing, Digital and…

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