A survey by Comparethemarket.com has revealed consumers attitudes towards credit and how debt is impacting their lives. The price comparison site wanted to discover the main reasons why people get into debt and how it affects their lives, in particular, their relationships and mental health. The survey found that 45% of consumers are in debt,…

Research carried out by financial advice website Moneycomms.co.uk and supported by credit experts TotallyMoney has revealed that credit card cash withdrawals cost UK consumers £219 million in fees and interest last year. In the 12-month period, there were more than 36 million credit card cash transactions. The average amount withdrawn or spent was £125. Every time a…

The Financial Conduct Authority (FCA) has reaffirmed the regulator’s focus on affordability, business models and culture in the consumer credit sector. Speaking in London this week, Jonathan Davidson, executive director of supervision – retail and authorisations at the FCA, noted that growth in the sector has slowed, increasing 6.5% over the last 12 months, according…

HM Treasury-backed rent reporting service CreditLadder and the Nationwide Building Society, have joined forces to help first-time buyers move on to the property ladder. The relationship enables would-be homeowners to be prompted if they are eligible to apply for a Nationwide mortgage. Users will then be directed to discuss potential options with Nationwide’s mortgage consultants…

The UK’s wealthy high net-worth individuals (HNW) individuals are struggling to secure credit from high street banks, new research from Butterfield Mortgages has revealed. Butterfield Mortgages has commissioned an independent survey among more than 500 high net-worth individuals to uncover the difficulties they face when applying for credit. It found: A ninth (12%) of the HNWs…

Contactless transactions have risen 31 percent year-on-year in 2018, to latest data from banking trade body UK Finance. The current payment limit with a contactless card is £30, more than which a Pin must be used. But an increase in usage throughout 2018 is expected to lead to an increase in that maximum, although those…

New research from Experian has identified 5.8 million people in the UK who are virtually invisible to the credit economy because there is little or no information available on their financial track record. In the absence of sufficient information to make a decision, these Invisibles can either be excluded from mainstream financial services or be…

New research from comparethemarket.com has found that half of homeowners feel they have made expensive mistakes during the process of buying their first property. In a poll of over 2,000 homeowners, 15% wished they’d haggled more on the price of the house when buying their first property and 10% of respondents said they made a…

The latest stress test analysis carried out by the Bank of England (BOE) reveals the core banking sector is now holding over three times the amount of capital ratio than before the global financial crisis. Consumers, on the other hand, are less prepared than they were in 2008. The UK households’ saving ratio has almost…

Equiniti Credit Services, a consumer credit technology and outsourced service provider, has announced the publication of its latest annual research report. A three part harmony: how regulation, data and CX are evolving consumer attitudes to credit explores the key trends impacting consumer attitudes to unsecured lending, including open banking, customer centricity, and flexibility. The sixth…

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