Credit, Collections & Insolvency News
Mobile phone providers could be banned from linking price rises to runaway inflation figures under new proposals from Ofcom. The regulator says telecoms customers must be told upfront in pounds and pence about any price rises their provider includes in their contract. With most major phone, broadband and pay TV companies now including mid-contract price…
Read more
The Federation of Small Businesses (FSB) has issued a super-complaint to the Financial Conduct Authority (FCA) to highlight the harsh lending practices of banks that excessively demand personal guarantees for business loans. The FSB says personal guarantees can be a straitjacket on business growth, forcing entrepreneurs to put their homes or other assets on the…
Read more
Latest figures from UK Finance have predicted that mortgage arrears as set to rise in 2024. The research also found that there has been an estimated 4,400 repossessions in 2023, noting that this was ‘an incredibly low number by historic comparisons.; It also highlighted that over 99% of the 10.8 million mortgages in the UK…
Read more
Lending for house purchases is predicted to fall by 8% in 2024, according to a report by UK Finance. Lending for house purchases is ex[expected to fall from £130 billion this year to £120 billion in 2024. UK Finance says higher interest rates and household costs will make it harder for people to access mortgage…
Read more