Credit, Collections & Insolvency News
Q4 mortgage data from Pepper Money has revealed that residential arrears increased as borrowing costs rise unexpectedly. The data found that the rate of arrears for residential mortgages grew by 2.4% on Q3, following two consecutive quarters of decline. The arrears rate for fixed rate mortgages grew 8.4%, marking the highest growth rate since Q1…
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The EY ITEM Club Winter Forecast is predicting that UK GDP growth will be at 1% in 2025, down from the 1.5% growth projected in October’s forecast. This represents only a marginal improvement on the 0.8% GDP growth the UK economy likely achieved in 2024. However, the EY ITEM Club still expects steady quarter-on-quarter growth…
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The average cost of car insurance has declined by £221 (23%) year-on-year, according to new research from Compare the Market. The average premium fell to £729 in December 2024, compared to £950 in December 2023. It is the cheapest monthly average premium since May 2023 when the average was £718. The drop in average premiums may…
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New data from SunLife has shown that one in five (18%) families have struggled to find the money to pay for a loved ones’ funeral caused notable financial difficulties. This group have to find an average of £2,370 to cover the cost with a quarter of those with notable financial concern report struggling to pay…
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Nearly a fifth (18%) of UK people have lied on their CVs and job applications in order to land a role, or know someone who has, in the last 12 months – research from the fraud prevention service, Cifas, has revealed. Its latest Fraud Behaviours Survey shows falsifying CV qualifications and supplying false information on…
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