19th August 2025 - Credit Connect

Consumer confidence in economy falls

19th August 2025 Consumer Collections | #consumer confidence

Consumer confidence in the future UK economy has plummeted over the last year according to Which?’s Consumer Insight Tracker. According to the tracker, consumer confidence has tumbled by 31 points over the last year, from an average of -9 between May and July 2024 to an average of -40 between May and July 2025. This…

Credit card spending rises to £21.8bn

19th August 2025 Consumer Lending | #credit card spending

Latest data from UK Finance has shown that credit card spending rises to £21.8bn, an increase of 1.8 per cent when compared to May 2024. There were 394.4 million credit card transactions in May, 3.1 per cent more than in May 2024. Outstanding balances on credit card accounts have grown by 6.4 per cent over…

Over half of people spend more in the summer

19th August 2025 Consumer Lending | #spending

New research from Creditspring has found that over half (53%) of people report increased spending during summer, more than at any other time of year, Based on the UK population of 69.5 million, this equates to approximately 36.8 million people increasing their spending in the summer months. That figure is even higher among younger adults,…

Rental affordability gap widens

19th August 2025 Consumer Lending | #affordability

Latest Office National Statistics (ONS) data has shown that private renters typically spend 36.3%, or £1,232 in monthly rent, of their income on an average-priced let home in England. This is higher than Wales and Northern Ireland, where 25.9%, or £702, and 25.3%, or £751, of pay was spent on rent last year, respectively, according to the…

Moore Kingston Smith appoints Head of Advisory

19th August 2025 Appointments |

Moore Kingston Smith has announced the appointment of Melanie Reed as Head of Advisory, a new role within its senior leadership team. The new role will further enhance the client experience through Melanie’s focus on consistently delivering streamlined, tailored, joined-up professional advice. Reed will lead the integration and cohesive delivery of the firm’s diverse advisory…

Debt collection agency shut down after keeping client funds

19th August 2025 Commercial Collections and Recoveries | #debt collection #fraud

Three connected debt collection companies, which kept more than £50,000 in client funds they collected on their behalf, have been shut down. Sunderland-based EDC Group NE Ltd, UK EDC Ltd and UK TCF Limited falsely presented themselves as professional agencies with decades of experience while taking money from both clients and their debtors. The companies…

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