Credit, Collections & Insolvency News
With interest-only mortgages recently discussed as an appealing option for UK borrowers, over two fifths (44%) of mortgage advisers have seen an increase in enquiries about interest-only mortgages over the past year, according to new research from global research and insights agency Opinium. Additionally, similar research conducted from Opinium among consumers found that one in seven (15%)…
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Latest credit card spending data from Halifax suggests it’s been a busy year for travelling, as travel-related spend (including on airlines and hotels), rose by 27% compared to 2019 and by 18% since 2022. This year, credit card spending at the UK’s twenty most popular air carriers (including British Airways, Jet2, EasyJet, Ryanair, Virgin and…
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Millennials and Gen X said they spent more than Gen Z when it comes to using Buy Now, Pay Later (BNPL) for online shopping over the past 12 months according to the latest Q3 2023 Consumer Pulse survey from a global information and insights company TransUnion. Compared to 54% of Millennials and 39% of Gen…
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Latest Bank of England (BoE) data has shown that borrowing of consumer credit by individuals amounted to £1.6 billion in August, up from £1.3 billion in the previous month. Consumer credit growth rose to 7.6 percent in August 2023 with outstanding balances for consumer credit now standing at £217 billion. Net borrowing of mortgage debt by…
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Personal insolvency provider Creditfix has announced the appointment of Kevin Thallon as its new Operations Director. Thallon has been promoted to become Operations Director after seven years with the company, starting as a Senior Operations Manager before becoming the head of customer support and debt management. Thallon will be working closely with chief operating officer…
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Business confidence fell to 36% in September, a five point dip from the 18-month high (41%) recorded in August, as companies saw a decline in both economic optimism and trading prospects for the year ahead. While confidence has fallen it remains higher than the first three months of 2023 (20%). Firms’ trading prospects were down…
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Digital bank, Cashplus has announced the appointment of Leigh Bartlett as Chief Financial Officer (CFO) and of Brennan Elliott-Jones to the newly created role of Finance Director, strengthening its finance and executive teams to support the firm’s ambitious growth plans. Bartlett brings with him a wealth of industry knowledge with over 20 years’ experience in…
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Household debts continue to mount up from every direction, with concerns that the reportable figures may only be the tip of the iceberg. Nationally, bill debt for the UK’s households has reached £22 billion, although due to limited data availability on key figures such as water bills and rent arrears, this total is only an estimate.…
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