Credit, Collections & Insolvency News
Ofwat has announced that water bills are set to rise by an average of £31 per year (36%) over the next five years from April. The water regulator has said the increase was enough for water companies in England and Wales to pay for upgrades and reduce sewage discharges. The increase is higher than the…
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Almost one in two (48%) university students have been struggling to repay their credit card balance within three months according to research by Compare the MArket, with the main reasons being the rising cost of everyday expenses (33%), increased university costs (31%), and having to prioritise other household bills such as energy or rent (23%).…
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Community lender, Salad Money has announced the appointment of Alex Marsh as Chair of its board. Marsh will succeed Sir Tim Melville-Ross who held the role since Salad’s launch in 2019. The firm called it an important milestone as it continues to develop its lending platform, having become the UK’s largest community development finance institution…
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Latest ONS data has shown that year-on-year inflation rose to 2.6% in November, up from 2.3% in October, rising for the second month in a row. Year-on-year core Inflation (excluding food and energy) rose to 3.5% in November, up from 3.3% in October whilst , month-on-month inflation rose by 0.1% in October, down from 0.6%…
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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 2.6 per cent in the 12 months to November. The announcement means that the inflation rate has increased for the second month in a row, rising at the fastest rate since March. Fuel and…
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The National Federation of Roofing Contractors (NFRC) is calling for ‘real consequences’ to help address the ‘endemic culture’ of late payment within the UK construction industry. The NFRC’s latest State of the Roofing Industry report has revealed that 45% of respondents experienced delays getting paid in quarter three of 2024. The proportion of those not…
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A review by the Lending Standards Board (LSB) of its registered firms’ application of the Standards of Lending Practice for business customers has identified 102 areas where action has been needed to bring firms into compliance with the Standards’ requirements. The business standards set the best practice framework for SME lending and are the only…
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Generous grandparents are planning to spend an average of £97 on each of their grandchildren this Christmas, according to the latest research from over 50s SunLife. The research found that one in seven said they planned to spend up to £30, and half up to £60, while 40% said they would spend more than £100…
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New research from SME lender ThinCats shows significant confidence in growth but an even split for those believing the Government is creating the right environment. The research which was conducted after the Chancellor’s Budget among more than 2000 UK SMEs shows that 81% of businesses are confident that their business would grow next year. Confidence…
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