The Financial Conduct Authority (FCA) has published its annual Sector Views, an assessment of the risks and potential harm to consumers across financial services markets. The Sector Views look at the impact of macroeconomic developments and common drivers of change emerging across financial markets. They also outline areas where there may be a negative impact…

Improving data and the quality of decisions are two of the top strategic priorities for credit management professionals in the next three years. A new study of credit management professionals from Equifax Ignite reveals nearly three quarters (72%) believe there is scope for future improvement of data analytics at their current companies. The study, in…

More than three out of ten consumers (34%) say they would be most likely to take on extra debt if they were faced with a sudden gap in their finances, according to new research from R3, the insolvency trade body. Thirteen percent of over 2,000 people surveyed by Savanta ComRes for R3’s latest Personal Debt…

A new investigation from Admiral Car Finance has revealed a range of hidden and unexpected costs consumers could unwittingly be hit with when purchasing their next car on finance, which could see them spending almost £1,200 more than they need to. With 2.4 million people spending a total of £37.6 billion on car finance last year, consumers…

UK Finance has published its latest Card Spending Update, outlining the data for spending on card transactions by UK cardholders in November 2019. The update shows there were 1.6 billion transactions on debit cards in November 2019, 8.8 per cent more than on the same month in 2018. This reflected a total spend of £51.2…

New figures released today by the Finance & Leasing Association (FLA) show that FLA members provided a record £140 billion of new business which helped businesses invest in new equipment and households manage purchases. 2019 saw growth across FLA markets with asset finance and consumer finance new business up by 6% and 1% respectively, compared…

Latest research from Cifas, the UK’s leading fraud prevention service, has revealed that the number of people failing to disclose a previous address in an attempt to hide their adverse credit rose by just over a quarter (26%) in 2019. Adverse credit refers to a poor repayment history – usually on loans or credit cards.…

The Financial Conduct Authority (FCA) has written to credit card firms telling them to review their approach to borrowers who are stuck in persistent debt, where they are paying more in interest, fees and charges than they are paying of their balance. New FCA  rules require firms to help people who have been caught in…

In the year up to November 2019, UK households borrowed almost as much as the Government, demonstrating that debt remains both a private and public sector issue, according to the January 2020 Money Statistics, produced by The Money Charity. The latest data available from the Bank of England and ONS shows that UK households borrowed almost…

Here is an overview of The Money Charity’s latest statistics for January 2020 Personal debt in the UK People in the UK owed £1,669 billion at the end of November 2019. The average total debt per household, including mortgages, was £59,982 and per adult was £31,643, around 111.6% of average earnings. Net mortgage lending rose…

1 2 3 32