2nd September 2024 - Credit Connect

Mortgage borrowing hits two-year high

2nd September 2024 Consumer Lending | #mortgage borrowing

Latest Money and Credit statistics from the Bank of England have shown that mortgage borrowing in July reached its highest level in nearly two years at £2.8 billion, up from £2.6 billion in June, the highest since November 2022 (£3.3 billion). Mortgage approvals in July were also at a near two-year high, while net consumer…

Business confidence fizzles out in August

2nd September 2024 Commercial Credit Management | #business confidence

The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, fell back to -12 in August, following a three-year high of +7 in July 2024. Business leader confidence in their own organisations also fell from +36 in July to +23 in August. This reduction in confidence is also…

Housing expenses continue to stretch family budgets

2nd September 2024 Industry opinion |

UK household budgets continue to be stretched, with particular pressure coming from housing expenses. The challenge of affording a place to live and call home remains one of the major stretches on UK household budgets, with difficulties being faced across the board; for those renting, hoping to buy, or those keeping up with their mortgage.…

Money Statistics: August 2024

2nd September 2024 Arrears and Recoveries | #Money Statistics: August 2024

Here is an overview of The Money Charity’s latest statistics for August 2024 Personal debt in the UK People in the UK owed £1,856.8 billion at the end of June 2024. The average total debt per household, including mortgages, was £65,380 and per adult was £34,612, around 96.3% of average earnings. Net mortgage lending increased by…

150,000 pensioners get a State Pension of less than £100 a week

2nd September 2024 Consumer Collections | #pensions

New data from the Department for Work and Pensions (DWP) accessed by Royal London has revealed that around 150,000 pensioners receive under £100 a week, less than half the full new State Pension of £203.85 a week. Royal Londosn says pensioners who are missing out on the full State Pension is because they have gaps…

Three in four SME brokers optimistic about the future of small businesses

2nd September 2024 Commercial Credit Management | #business optimism

Three in four (73%) SME finance brokers feel optimistic about the future of small businesses, according to SME lender iwoca’s latest Q2 2024 SME Expert Index. The survey of SME brokers reveals a tentatively bullish outlook for the UK’s 5.5m SMEs, as optimism among brokers is up 3pp compared to Q1 2024, and 6pp compared…

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