13th July 2023 - Credit Connect

Strong pay growth keeps the pressure on the MPC

13th July 2023 Consumer Lending |

Latest figures have indicated that pay growth is set to hit a 21-month high with EY ITEM Club stating that it will reinforce the Monetary Policy Committee’s (MPC) concerns about inflation persistence. Private sector pay growth also increased and remained well above the Bank of England forecast. EY says that while a surprise rise in…

Collections Technology Think Tank 4.2 Review

13th July 2023 Consumer Collections | #collections technology #featured

Credit Connect’s hosted its sixth Online Collections Technology Think Tank 4.2 last week which saw collections strategies and the impact of cost of living economic stresses discussed by thirteen collections professionals from a variety of industry sectors. The themes of collections risk, business transformation, customer engagement, vulnerability and affordability were discussed by panelists and Chair…

Half of older people struggling to pay for broadband

13th July 2023 Consumer Collections |

Nearly half (48%) of older people in England on a low income have struggled to keep up with their broadband bill in the last 6 months, according to new research charity Independent Age. One in five (20%) found it a constant struggle, and 28% struggled from time to time to pay their bill. Independent Age says…

Asset finance grows by 13%

13th July 2023 Asset Finance | #asset finance

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in May 2023 by 13% compared with the same month in 2022. In the five months to May 2023, new business was also 13% higher than in the same period in 2022.…

Consumer car finance volumes fall by 10%

13th July 2023 Consumer Lending | #car finance

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in May 2023 by 10% compared with the same month in 2022. The corresponding value of new business also fell by 10% over the same period. In the five months to May 2023, new business fell…

Second charge mortgage lending falls 9%

13th July 2023 Consumer Collections | #second charge mortgages

New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage lending fell by 9% in May 2023. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “May…

Buy-to-let arrears worsening at faster rate than residential

13th July 2023 Arrears and Recoveries | #collections arrears

Latest research by Octane Capital, has shown that cases of arrears in the buy-to-let sector are worsening at a faster rate than for homeowners. The figures show that the number of mortgages that have fallen into arrears by 2.5% or more of the mortgage balance, comparing the split between the buy-to-let and residential sectors and…

Consumer finance fell by 5% in May

13th July 2023 Consumer Lending | #consumer credit

New figures released by the Finance & Leasing Association (FLA) have shown that consumer finance’s new business fell in May 2023 by 5% compared with the same month in 2022. In the five months to May 2023, new business was 4% lower than in in the same period in 2022. The retail store and online…

Create your Account:

1. Please fill in the boxes below with your email, tick the relevant newsletters you would like to subscribe to and click the Sign Up button.

2. Wait for the double opt-in page to open and confirm your email address.

3. You have subscribed and have agreed to receive the newsletters.

Credit Connect Media is committed to reserving your right to privacy. By using our website and services you consent to our collection and use of your information as described in or privacy policy.

Credit Connect Media has set up a network of business partners whose products and services may be interesting and useful to you. They may contact you from time to time. By subscribing you confirm that you agree to our Terms & Conditions statement.

Login