Credit, Collections & Insolvency News
The Office for National Statistics (ONS) has released the latest private rent and house price data which shows that private rents increased by 8.7% in the year to October, to an average of £1,307. In England, rent inflation was highest in London at 10.4% and lowest in Yorkshire and The Humber at 5.9%. Whilst the…
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The British Business Bank, the UK’s economic development bank, has appointed Richard Bearman and Reinald de Monchy as Co-Chief Banking Officers, with a shared responsibility for all of the organisation’s banking activities for smaller businesses. Bearman will oversee a new Relationship Management function bringing together a number of existing skillsets across relationship management, account management…
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The Office for National Statistics (ONS) has published its latest Consumer Prices Index, which shows the rate of inflation rose to 2.3 per cent in the 12 months to October, up from 1.7 percent in September 2024. The increase showed that core Inflation (excluding food and energy) rose to 3.3%, up from 3.2% in September.…
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The Financial Services Compensation Scheme (FSCS) increased claims decisions by 18% year-on-year in H1. The FSCS said that more than two-thirds of its advice claims are now considered ‘highly complex.’ The levy for the 2024/25 financial year remains as previously forecast in May 2024 at £265m, and no additional levy is expected for the remainder…
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Latest figures from the Office for National Statistics (ONS) have shown inflation surged to 2.3% in October, up from the three year low of1.7% in September. The increase was driven largely by higher energy costs and increased housing costs. For a typical household, annual gas and electricity bills went up by about £149 last month…
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E.ON Next has paid £14.5 million after failing to provide final bills and refund customer credit balances to prepayment meter customers. An investigation by the energy regulator, Ofgem, found almost 250,000 prepayment meter customer accounts were affected between February 2021 and September 2023 due to an error within its billing system, which E.ON Next self-reported…
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Nottingham Building Society has announced that it will phase-in its use of LendingMetrics’ award-winning Auto Decision Platform (ADP) over the coming weeks. The platform – a universally-integrated SaaS solution that handles real-time execution of credit reference, AML and affordability calls to data providers – will allow the society to instantly inform introducers of decision outcomes,…
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A recent poll by MoneyMagpie reveals that almost 40% of parents rely on credit at Christmas – despite also being more likely to save ahead of time for the festive season. The data showed that 37% of parents rely on credit cards to spend on Christmas, while 27% of childfree people do. While it’s to…
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