Credit, Collections & Insolvency News
New research by CreditSpring has found that 6.7 million young people (aged 18-34) across the UK don’t know that using buy now, pay later (BNPL) can lead to debt. The research showed that mearly half (46%) of young people remain unaware BNPL can lead to debt, much higher than the 35% UK average. BNPL is…
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Lloyds Bank’s latest Business Barometer has found that business confidence remains high, with March’s figures unchanged month-on-month at 42%. In a promising sign of a return to economic growth, this month’s survey data reflects the continued confidence firms have demonstrated so far in 2024 and means the overall business confidence level remains well above the…
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Here is an overview of The Money Charity’s latest statistics for March 2024 Personal debt in the UK People in the UK owed £1,838.7 billion at the end of January 2024. The average total debt per household, including mortgages, was £65,479 and per adult was £34,570, around 99.1% of average earnings. Net mortgage lending increased by…
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The monthly cost to first-time buyers of owning a home is now £1,231, -£27 lower than renting an equivalent property according to research by Halifax. The figures show that this is the smallest gap between home ownership and renting recorded since 2019. The analysis, based on the housing costs associated with a mortgage on a…
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A consultation on how to develop the price cap so customers remain protected as the energy market evolves to a smarter, more flexible system has been launched by Ofgem. The price cap, along with the temporary ban on acquisition-only tariffs, have worked well to protect customers from the ‘loyalty penalty’ where customers on default tariffs…
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