New figures from UK Finance show that consumers spent almost £16.9 billion on credit cards in May, a year-on-year increase of 2.3%. The annual growth rate of outstanding balances on credit cards stood at 4.1 per cent in May 2019, continuing the downward trend from its recent peak of 8.3 per cent at the start…

New research from KPMG has found that 30% of the UK public have changed their spending as a result of Brexit uncertainties. A fifth (22%) have avoided making big ticket purchases with almost one in ten (9%) missing out on overseas holidays and 6% avoiding investing in the economy via stocks & shares. Meanwhile, 8%…

The number of residential and buy-to-let mortgages taken out in June 2019 has fallen as has pound-for-pound remortgaging, according to UK Finance. The mortgage trends update also showed that there was a ten per cent drop in overall remortgaging activity in June 2019, compared to the previous year. This has been driven largely by a…

Up to half of older homeowners are using equity release to repay debt as they struggle to meet payments, new analysis from independent equity release adviser Key shows. Analysis of customer data suggests that 30% of people are using equity release to repay unsecured debt while 20% are using it to repay mortgages.  Debt is a…

Admiral Insurance has announced that it has expanded its strategic partnership with Equifax, to power its affordability assessment for instalment payments. The Equifax solution helps insurers and brokers make informed, accurate customer affordability assessments in real time. By providing access to CATO (current account turnover) data, customers’ aggregated monthly income and outgoings can now be…

New research from online mortgage broker Trussle has reveals that 61% of current and soon to be homeowners in the UK don’t fully review their mortgage agreement before signing it, and half (50%) claim they only understand some of the language used in paperwork associated with the house buying process. Speaking to 2,002 homeowners and…

The dream of homeownership for middle-income Britain, individual buyers and those unable to draw on family wealth will be over in the next decade without urgent action by the government and industry, according to new research from Santander Mortgages. Santander’s First-Time Buyer Study: The Future of the Homeownership Dream – based on a national survey…

Self-employed people are selling themselves short when it comes to their aspirations of property ownership, according to new research. A survey of those who work for themselves revealed more than a third of would-be homeowners have already judged themselves unworthy of a mortgage. The national study, by specialist lender Together, showed 36 per cent of…

The Bank of England has announced its latest Money & Credit statistics which showed that the extra amount borrowed by consumers to buy goods and services was £1 billion in June, in line with the average of the past year. Annual lending growth to UK consumers slowed to 5.5% in June however, from 5.7% in…

Controlling spending temptations and unintentionally falling into debt are the main consumer concerns when it comes to owning a credit card, according to research from Equifax, the consumer and business insights expert. The online survey of over 2,000 people does however reveal positive awareness about the potential benefits of spending on credit cards, including credit…

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