New research by consumer group, Which? has found that some fraud victims are being left without satisfactory support from banks. The research found that while 83% of victims of fraud or fraud attempts in the past 12 months said they were satisfied overall with how their bank had managed the incident, some customers struggled to…

Latest Bank of England (BOE) data has shown that mortgage borrowing hit a record monthly high in June, climbing to £17.9 billlon. This marks a 163% jump on the £6.8bn recorded in May. The increase came as buyers looked to complete deals before the stamp duty holiday started to taper. While the threshold at which…

Here is an overview of The Money Charity’s latest statistics for July 2021 Personal debt in the UK People in the UK owed £1,721.3 billion at the end of May 2021. The average total debt per household, including mortgages, was £61,933 and per adult was £32,544, around 108.7% of average earnings. Net mortgage lending rose by…

A new report from Juniper Research has found that global contactless card transaction values will reach $2.5 trillion in 2021, from $1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. The pandemic has significantly accelerated an existing contactless card usage trend, and these value increases…

NewDay has launched, Bip, the UK’s first completely cardless consumer credit proposition. Bip has been designed around the customer, offering a fully digital credit experience that is simple to use, fully transparent on costs and with the customer in complete control. NewDay offers credit to a broad spectrum of UK customers, providing accessible credit to…

Latest UK Finance data has indicated that outstanding balances on credit card accounts had fallen 12% in a year to £53.3 billion, down from 19% a month earlier. The April figures showed that there were 33.9 million credit cards with balances at the end of the month, this was down 7% from April last year…

The Bank of England’s quarterly Credit Conditions Survey saw respondents say that the length of interest-free periods on credit cards, for both balance transfers and purchases, had increased in the previous three months, with further increases expected in the next three months. Mortgage availability also increased in the three months to the end of May,…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 116% in May 2021 compared with the same month in 2020.  In the first five months of 2021, new business was 15% higher than in the same period in 2020. The retail store and online credit sector…

Here is an overview of The Money Charity’s latest statistics for June 2021 Personal debt in the UK People in the UK owed £1,714.4 billion at the end of April 2021. The average total debt per household, including mortgages, was £61,509 and per adult was £32,355, around 108.7% of average earnings. Net mortgage lending rose by…

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