Credit, Collections & Insolvency News
The Office for National Statistics (ONS) has published its latest Consumer Prices Index, which shows that the rate of inflation fell to 2.3 percent in the 12 months to April 2024, down from 3.2 per cent in March. Prices were up 0.3% in a month (compared to 1.2% a year earlier). CPI is the…
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Latest ONS data has found that inflation came in at 2.3% in April, lower than the 3.2% reported in March. The rate is at its lowest in two and a half years, and down from the peak at 11.1% in October last year. Commenting on the inflation data for April, ONS Chief Economist Grant Fitzner…
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Criminals stole £1.17 billion through unauthorised and authorised fraud in 2023, a four per cent decrease compared to 2022 according to UK Finance’s annual fraud report. Losses due to unauthorised transactions across payment cards, remote banking and cheques were £708.7 million this year, down three per cent compared to 2022. The total number of recorded…
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New analysis commissioned by the Liberal Democrats has revealed that over 3.5 million households in England and Wales remortgaged their homes last year, causing a combined £8.8 billion in additional mortgage payments a year as a result. The Liberal Democrats said it shows Rishi Sunak’s boasts on inflation would ring hollow for families facing eye-watering…
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The Education Select Committee is set to propose that financial education should be introduced in primary schools as part of PHSE classes. Research by Hargreaves Lansdown carried out last year found that three quarters of 18-year-olds don’t understand the rules around borrowing or what a share is whilst two in three 18-year-olds don’t understand inflation,…
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Almost one in two homeowners aged 55 or over will pay an additional £400 a month on their mortgage after their current fixed rate deal expires according to research by Key Later Life Finance. A total of 47% of homeowners in this age bracket said they expected repayments to rise by an average of £5,000…
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Invoice Finance specialist, Optimum Finance, has announced it has appointed Jessica Okonoboh as its latest Relationship Manager. Okonoboh joins the team with prior experience in Invoice Finance and the wider financial services sector, holding particular skills in client services, credit management and business development. Ant Persse, CEO of Optimum, said “Optimum exists to support our…
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