4th July 2025 - Credit Connect

Lenders report growing demand for borrowing in Q2

4th July 2025 Consumer Lending | #lending

Lenders said they lifted the availability of household secured credit in the three months to the end of May and expect to do so again over the coming quarter, according to a latest Bank of England survey. The survey found that lenders reported that the availability of both secured and unsecured credit to households increased…

Tax concerns hit business confidence

4th July 2025 Commercial Credit Management | #business confidence #tax

Confidence among British businesses has significantly declined due to Labour’s tax policies, according to a survey by the British Chambers of Commerce (BCC), revealing that 56% of firms are worried about their tax burden. While price rise expectations have eased back from near historic highs in Quarter 1, tax remains the biggest concern cited by…

StepChange appoints three new trustees

4th July 2025 Appointments | #appointments

StepChange Debt Charity has appointed three new trustees – Ramon Kaur, Sean Lynskey and Lisa Mellor. The appointments come at a transformative moment for StepChange. The charity recently launched a bold new five-year strategy focused on delivering even better outcomes for people in problem debt, driving meaningful change through policy and research, and securing long-term…

Over half of people prioritise credit card rewards over interest rates

4th July 2025 Consumer Lending | #credit cards

New research from Compare the Market reveals that more than half (52%) of people would be willing to switch credit cards if they found one offering better rewards aligned to their personal needs, even if it came with a higher interest rate. Nearly half of respondents (46%) value cashback as the most important credit card…

Premium Credit appoints Director of Partner Relationships

4th July 2025 Appointments |

Insurance finance specialist, Premium Credit, has announced that it has appointed Alan Scott as Director of Partner Relationships. Scott will lead the Broker Account Management teams across the commercial insurance market in the UK, reporting into Owen Thomas, Chief Sales Officer. He joins Premium Credit having held senior positions at AXA UK and RSA. Owen…

Average credit card debt increases to £2,920

4th July 2025 Consumer Lending | #credit card debt

The average credit card debt per borrower has climbed to £2,920 according to research by TransUnion. With two-thirds (67%) of consumers feeling financially comfortable and 43% optimistic about their household finances over the next 12 months – up from 26% in 2022 – demand for credit is growing. Since 2022, the average credit card balance…

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