Credit, Collections & Insolvency News
The average household spends £216 on monthly debt repayments, excluding the mortgage, according to research by Hargreaves Lansdown. Among the top 5% of earners, this rises to £384 and £1,065. The data also showed that those with mortgages spend an average of £748 on top of this. Almost one in ten households (8%) are in…
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US import tariffs introduced by Donald Trump are set to inflict a trade war, which is expected to reduce economic growth by 0.8% over the next two years, leaving the UK £21.6 billion worse off by 2027, according to research by KPMG. KPMG says that a more severe scenario, if trade frictions continue to escalate,…
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The UK’s ongoing cost-of-living crisis remains significant, with new figures revealing a sharp rise in housing costs and debt levels, according to research by Money Wellness. The data, which tracks household finances from the fiscal year 2023/24 to the first quarter of 2024/25 (prior to April’s price increases), shows that ,ortgage payments have surged by…
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Ofgem has appointed British Gas to take on supplying Rebel Energy’s 84,000 domestic customers and 6,000 non-domestic customers. This follows a competitive process run by the energy regulator. Funds that current and former domestic customers of the supplier have paid into their accounts will be protected, where they are in credit. Domestic customers will also…
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Financial services leaders are less confident about profitability in the second quarter of 2025 compared to the first quarter, as they expect geopolitical events to increasingly weigh on revenues over the next five years, according to KPMG’s latest UK Financial Services Sentiment survey. The quarterly poll, which tracks sentiment among over 150 leaders working across…
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