17th August 2023 - Credit Connect

Four in ten mortgages held by customers beyond retirement age

17th August 2023 Consumer Collections | #mortgages

New data from Equifax has found that four in ten (41%) of live mortgages are held by customers who will be beyond retirement age (66+) at maturity, with over a quarter of these are held by those who will be over 70 at maturity. Of the identified group of UK mortgage borrowers whose loans will not…

Inflation falls to 6.8% – business industry reaction

17th August 2023 Commercial Credit Management | #inflation

The Office for National Statistics (ONS) has published its latest Consumer Prices Index, which shows the rate of inflation was 6.8 percent in the 12 months to July 2023, down from 7.9 percent in June. Commenting on the inflation figures for July, ONS Deputy Director of Prices Matthew Corder said “Inflation slowed markedly for the…

Planning for small business growth hits three year high

17th August 2023 Commercial Credit Management | #business planning

The proportion of small businesses working on specific initiatives to secure business growth has reached its highest level for three years – with 71% of enterprises working on specific strategies to improve their future prospects according to new research from Novuna Business Finance. Furthermore, across five industry sectors – manufacturing (86%), construction (75%), agriculture (74%),…

Inflation falls to 6.8% – consumer credit industry reaction

17th August 2023 Consumer Collections | #inflation

Latest ONS data has shown that CPI inflation fell to 6.8% in July, down from 7.9% in June and well below the peak of 11.1% in October. Commenting on the data, Joanna Elson CBE, Chief Executive of the Money Advice Trust said “This fall in the rate of inflation is an early sign that the…

Credit card outstanding balances grow by 8.8%

17th August 2023 Consumer Lending | #credit card spending

Latest on UK Finance’s latest card spending figures has revealed that outstanding balances on credit card accounts have grown by 8.8 per cent over the twelve months to May and 49.7 per cent of outstanding balances incurred interest compared to 51.2 per cent twelve months ago. In the 12 months to May and 49.7% of…

Isadore Goldman makes two senior appointments

17th August 2023 Appointments |

Specialist insolvency and restructuring law firm Isadore Goldman has announced two new senior appointments to their team. Christina Fitzgerald and Monica Kapur will both join the firm as directors in September, based in the firm’s London office. Fitzgerald, a solicitor and Licensed Insolvency Practitioner, joins from another top ranked London firm and has extensive experience…

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