Interest rate rise will mean that repayments are £529 per month higher that before hike series

8th June 2023 Arrears and Recoveries | #interest rates

New research by TotallyMoney has predicted the impact of the Bank of England’s hiking interest rates by a further 0.25% (to 4.75%) on borrowers with a variable rate mortgage head of the next MPC announcement on the 22nd of June. The research found that for the average UK property costing £270,708 with a 75% LTV,…

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First time buyers face 18 year wait to save for a deposit

8th June 2023 Consumer Lending | #mortgages

New research from interactive investor shows that younger workers on an average salary for their age would take 13 years from age 21 to save enough for a 10% deposit on an average-priced house costing £285,000, taking them until 34 years old, assuming they saved 10% of their take-home pay. In contrast young workers in…

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UK consumers feeling rising cost of living more than European counterparts

8th June 2023 Arrears and Recoveries | #cost of living

Cost of living pressures have affected UK consumers more than their European counterparts, according to the latest EY UK Future Consumer Index. The twelfth edition of EY’s survey of 1,000 UK consumers found that 62% of UK consumers say they are ‘extremely concerned’ by the cost-of-living squeeze, compared with 50% in the rest of Europe.…

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Zilch rolls out ASPN to third parties

8th June 2023 Company News |

Direct-to-consumer (D2C) payments technology and advertising platform Zilch has announced the official rollout of its Ad-Subsidised-Payments-Network (ASPN) to third parties through open APIs. Zilch initially created ASPN to power its own ad-subsidised Buy Now Pay Later (BNPL) product offering, attracting over 3 million registered customers in just 24 months and seeing more than 5,000 retailers…

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