Credit, Collections & Insolvency News
New anaylsis by EY Item Club has found that the construction Purchasing Managers’ Index (PMI) rose to a three-month high in May. With the services index also pointing to robust growth, it’s looking more likely now that the economy will manage to expand in Q2, despite the drag on activity from the extra public holiday…
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Since the onset of the cost-of-living crisis, 6% of people have started borrowing for the first time, and 8% are borrowing more according to research by Hargreaves Lansdown. The research found that some groups are more likely to have stepped up their borrowing – including younger people, women, renters, and parents. Meanwhile, other groups have…
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The Payment Systems Regulator (PSR) has confirmed new requirements for banks and payment companies that will ensure more people than ever before will get their money back if they are a victim of Authorised Push Payment (APP) fraud; prompting more action to prevent these frauds from happening in the first place. This significant new level of…
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The Insolvency Service has announced it has secured the winding-up of 11 companies for their part in a scheme which orchestrated systematic fraud against UK taxpayers during the Covid-19 pandemic. Between them, the companies claimed £500,000 through the Bounce Back Loan scheme. The companies claimed to be registered at various offices in Berkshire, Lancashire, London…
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Households have faced more than a year of high inflation and rising interest rates and the impact of both is becoming more apparent according to new UK Finance data. The research found that squeezed budgets and higher financing costs are bearing down more heavily on affordability for prospective house buyers. The same pressures are, as…
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New research by Equifax has found that over 367,000 fixed-rate mortgages are due to come to the end of their five-year deals over the next year. More than 70% of open mortgages are currently on a fixed-rate deal . The analysis also found that the majority of which have an average outstanding balance of £170,000. This…
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