Credit, Collections & Insolvency News
A new survey from The Open University (OU) has found that nearly one in two (49%) have reconsidered going to university in the last year, because of the rising cost of living. Nearly a third (31%) of school leavers believe university is not affordable, while a fifth (20%) are still unsure if they will go…
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Research by TotallyMoney has found that almost 10 million (9.8 million) adults lack confidence to make financial decisions. Over the past two years, persistent inflation has driven household finances to the brink, with almost one in three adults (29%) saying they would be unable to cover an unexpected £100 expense*. At the same time, 11…
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A poll by small business lender Bibby Financial Services shows that almost half of SMEs think the current business climate is worse now than during the pandemic revealing that 2023 is the worst economic environment for small and medium sized enterprises (SMEs) in 15 years. Findings from the 2023 Global Business Monitor, which surveyed SME owners…
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New research from Canada Life has revealed that one in two (51%) adults have or know someone who has experienced a financial scam attempt in the last 12 months. This equates to approximately 26.8 million UK adults. Of these, 3.6 million went on to personally fall victim to the scam. The average amount lost to…
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The Co-operative Bank has announced that it has purchased the mortgage portfolio of Sainsbury’s Bank for £464 million. The sale marks Sainsbury’s Bank’s formal exit from the UK mortgage market, with it having ceased new lending in 2019. The portfolio contains around 3,500 customers and is worth nearly £480 million. Sainsbury’s Bank will transfer its mortgage customers to Co-op…
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