18th February 2025 - Credit Connect

Mortgage lending growth forecasted to double

18th February 2025 Consumer Lending | #consumer lending

Mortgage lending growth is forecasted to more than double from 1.5% in 2024 to 3.1% in 2025, and grow to 3.2% in 2026, as rates fall and consumer confidence rises according to a report from EY Item Club. The growth is largely attributed to anticipated interest rate cuts by the Bank of England, which recently lowered…

Business lending expected to increase at highest rate since 2020

18th February 2025 Alternative Business Lending | #business lending

A new EY ITEM Club forecast has predicted bank-to-business lending growth to increase from 2.9% in 2024 to 4.5% in 2025 – the highest rate since 2020 – and 5.6% in 2026 as borrowing rates continue to fall Bank lending to UK businesses grew by 2.9% in 2024, as falling interest rates boosted market confidence…

Cifas triumphs at the Innovation partnership hackathon

18th February 2025 Company News |

It has been announced that a team from fraud prevention service Cifas has won an inaugural Innovation Partnership Innovation Challenge Hackathon. After months of dedicated work, the Cifas team impressed judges with their groundbreaking ‘Events Database’ concept. This strategic initiative aims to collect and analyse fraud-risk data on events such as chargebacks, goods lost in…

New businesses insolvencies at its lowest level for more than a decade

18th February 2025 Business | #business insolvencies

The failure rate of new businesses relative to total insolvencies is at its lowest level for more than a decade, according to new analysis from PwC. In 2024 startups accounted for 46% of total company insolvencies, the lowest proportion in a decade by a large margin – despite record levels of company incorporations over the…

Bank manager sentenced over £7.3m fraud scheme

18th February 2025 Commercial Credit Management | #fraud

A Bank business manager and his friend have been sentenced following an investigation into fraudulent accounts that helped them steal over £7.3 million. The two men from East London were sentenced at Southwark Crown Court to a combined nine-and-a-half years in prison for opening bank accounts used to launder money from fraud. The sentencing follows…

Only 14% of largest towns and cities are affordable to single income buyers

18th February 2025 Consumer Lending | #housing #mortgages

New research by Apil Mortgages has found that only 14% of the UK’s 100 largest towns and cities are affordable to single-income buyers. Buying an average home in 16 of the UK’s 100 largest towns and cities requires a deposit of more than £200,000 for a mortgage applicant earning an average salary. In more than half (52%) of these towns and…

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