Credit, Collections & Insolvency News
The Bank of Mum and Dad provided £9.4 billion to first-time buyers last year, almost double the amount given five years ago, according to an analysis of UK Finance data by Savills. The research found that 57% of mortgaged buyers joining the property ladder in 2020 received help from parents or other family members. This marked the…
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New data analysis from the Mortgage Advice Bureau shows that one in three people have delayed buying a home because of financial pressure stemming from matters such as high interest rates, steep rents and rising costs. The research shows that a fifth have taken on an extra job to increase their funds. In 1980, the…
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Cabinet ministers including the Deputy Prime Minister, Chief Secretary to the Treasury as well as ministers for the devolved nations have joined the taskforce’s co-chairs, the Work & Pensions and Education Secretaries, to confront the wide-ranging and deep-rooted causes of child poverty. The government says the ministerial taskforce will harness all available levers to drive…
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A Derby-based business consultant who fraudulently obtained two Covid loans worth a combined £100,000 has been handed a suspended sentence. Imran Mushtaq was the sole director of IZ Business Consultants Limited when he applied for two Bounce Back Loans for the company in June 2020. Mushtaq was sentenced to 20 months in prison, suspended for…
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Britain’s economy grew by 0.6% in the second quarter of the year, marking the second consecutive quarter of growth. The growth is in line with estimates and indicates that the UK economy is recovering from the recession experienced at the end of last year. The service sector played a significant role in driving this growth,…
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