Credit, Collections & Insolvency News
Latest quarterly data from UK Finance has shown that the mortgage market strengthened in Quarter 4 (Q4) 2024, with both first-time buyers and home mover numbers up by almost a third compared to a year ago, with forward-looking data suggesting this will persist through the first quarter of 2025 The data found that overall, 2024…
Read more
A third (33%) of SMEs say they will have to raise prices this year as a result of the Government increase in National Insurance Contributions (NIC) for employers. More than four-in-ten of the UK’s small and medium-sized businesses (SMEs) admit that the government’s increase in NIC for employers will negatively impact them, with nearly a…
Read more
Young adults are facing significant financial struggles, with many battling debt and seeking help with budgeting, according to new figures released by Christians Against Poverty (CAP). Research carried out by Opinium for CAP found that 35% of young adults are struggling with deficit budgets – spending more than they earn – a far higher number…
Read more
Latest Bank of England data has found that the number of mortgage approvals fell to 66,200 in January, a decrease of around 300 from December. However, net mortgage lending rose by 27% to £4.2 billion – the highest since September 2022. The mortgage market remained busy in January, largely due to first-time buyers squeezing deals…
Read more
Latest data from the Bank of England data has shown that consumer credit borrowing rose sharply to £1.7 billion, indicating financial strain on households. Net consumer credit borrowing by individuals was £1.7 billion in January, up from £1.1 billion in the previous month. Within this, net borrowing through credit cards increased to £1.1 billion from…
Read more
Everyday Loans has announced it has rebranded as Evlo, with in its mission to help meet the credit needs of the 16-17 million people who cannot access mainstream credit. Alongside the rebrand, Evlo has appointed Deborah Green as Chief Operating Officer to help drive the company’s next stage of growth. Green began her career at…
Read more
Later life mortgage lender LiveMore has announced that its has appointed Paul Lewis as Sales Director of Mortgages. Lewis has more than 20 years of experience in the financial services industry, having held senior roles across the industry, including as National Development Manager at Mansfield Building Society. Leon Diamond, CEO of LiveMore said “We’re delighted to…
Read more
Specialist lender Afin Bank has announced it has appointed Simrat Gill as Senior Underwriter. Gill brings extensive experience of the specialist mortgage market, including almost eight years as Senior Underwriter at Precise Mortgages and nearly three years with buy-to-let lender Landbay. Swaraj Dada, Afin Bank’s Head of Credit, said “Simrat brings a lot of experience…
Read more
Online budgeting tool IE Hub has revealed a new partnership with Make Life Better, a UK company that supports people who need financial support by helping them to claim benefits owed to them. Bethanie Kennedy, Partnerships Manager at IE Hub, said “We’re really happy to be working alongside Make Life Better. This partnership will make…
Read more