Credit, Collections & Insolvency News
New research by Halifax has found that homebuying is becoming more affordable relative to income. The analysis based on data from the Halifax House Price Index compared typical house prices to average earnings across the UK. House prices have increased by +3.8 % compared to a year ago, reaching an average of £292,508. Meanwhile, annual earnings…
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Latest data from the Building Societies Association (BSA) has shown that mortgage balances, in the sector, grew by £11.7 billion, accounting for 72% of the mortgage market growth during the period. This follows 2023 where building societies were responsible for all the growth in the mortgage market, as overall mortgage balances at other lenders reduced…
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Children’s charity and voluntary adoption agency, Adoption Matters has rolled out IE Hub’s free budgeting tool across its service to assess the finances of prospective adopters. Following a successful pilot, the charity, which supports those looking to adopt in the north of England, Staffordshire, Shropshire and parts of north Wales, will now signpost prospective adopters…
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A new poll by MoneyMagpie reveals that 65% of over 60s don’t save ahead for Christmas, instead relying on their current income at the time to pay for the festive season. The poll showed that while 81% of the 61 to 70 age group spend more than £100 on Christmas, they are also the most…
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Latest data from UK Finance has shown that there were 33,840 new loans advanced to older borrowers in Q3, up 2 per cent year on year. The value of this lending was £5.2bn, which was up 9.7 per cent compared with the same quarter a year previously. There were 5,830 new lifetime mortgages advanced in…
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New data analysis by Hargreaves Lansdown has found that in 2023/24, 30% of people had a mortgage, 35% owned outright, 19% rented privately (32% in London) and 16% rented from the social sector. The average weekly mortgage payment in England was £222. Outside London, it was £209 (up £47 in a year) and in London…
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Increases in average salaries are still struggling to overcome ever rising costs in core expenditure for many UK households, with more signs of people leaning into credit to make ends meet, according to the November 2024 Money Statistics, produced by The Money Charity. Hard-pressed UK households will have welcomed the news of average salary rises…
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New research by Mojo Mortgages has found that 89% of the top 100 most trending Christmas presents can be purchased through Buy Now Pay Later (BNPL) methods. The research also showed that 75% of these products promote BNPL options on their product pages, enticing consumers to make purchases they might not have planned for or…
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Here is an overview of The Money Charity’s latest statistics for November 2024 Personal debt in the UK People in the UK owed £1,868.1 billion at the end of September 2024. The average total debt per household, including mortgages, was £65,777 and per adult was £34,594, around 95.3% of average earnings. Net mortgage lending increased by…
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