Credit, Collections & Insolvency News
Global credit intelligence company, Pepper Advantage has published data on its portfolio of over 100,000 UK residential mortgages, which shows a material rise in borrower arrears. In the year to April 2023, Pepper Advantage saw an increase of 11% in the percentage of residential mortgages in arrears, the highest growth rate since the global Financial…
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Latest UK Finance has found that the number of interest-only homeowner mortgages fell 6.9% to 702,000 last year compared to 12 months. The figures for partial interest-only home loans fell by 11.9% to 222,000 over the same period. There are now 924,000 interest-only mortgages outstanding, just over one quarter of the 3.2 million that…
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New research by Zoopla has found that the average rent has increased by 10.4% in a year, the 5th month of double-digit growth. 53% of tenants say their rent has risen in the past six months with renters spending 28% of their income putting a roof over their head – the highest in ten years. The…
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Global digital identity specialist, GBG is warning that fraud in the UK is rapidly becoming industrialised, with 40% of businesses reporting known or suspected fraud attempts in the last 12 months. Globally, almost half (49%) of the businesses that reported fraud attempts say it has increased in the last year. At the same time, over…
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New data from Moneyfacts has shown that a typical two-year fixed mortgage deal now has an interest rate of more than 6%. The data shows that the average rate for a two-year fixed-rate mortgage has hit 6.01%, while a typical five-year fixed rate is now at 5.67%. The two-year rate has risen from 5.98% at the…
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