Credit, Collections & Insolvency News
Latest Bank of England data shows mortgage approvals fell to 56,100 in July, down from 58,215 in June and below the six-month average of 60,800, as higher borrowing costs weighed on housing demand. The figure was below the average of around 60,800 over the previous six months. Approvals for remortgaging increased to 34,500 from 34,100,…
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Latest data from Enterprise Nation has shown that 42% of small firms have been paid late during the past 12 months, compared with a range of 24% to 34% through 2023 and 2024. Among businesses employing staff, the incidence of late payment has more than doubled since summer 2024. The report also cites Small Business…
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New research by Confused.com has found that 66% currently give their child regular pocket money. A further 8% have done so in the past and 19% plan to start in the future. Among parents who currently give or previously gave pocket money and provided an amount, the most common weekly payment is £5 to £9.99…
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The latest British Chambers of Commerce (BCC) Economic Forecast suggests the outlook for the UK will remain uncertain. While the economy was more resilient in Q2 than expected, higher energy and business costs are likely to keep growth weak this year and next. GDP is anticipated to grow by 1% in 2026, which is only…
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