New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 4% in July, compared with the same month last year. Credit card and personal loan new business together grew by 3% compared with July 2018, while retail store and online credit new business remained stable. Commenting on…

The latest Mortgage Lenders and Administrators Statistics from the Bank of England show that the proportion of total loan balances with some arrears has fallen to its lowest level in 12 years. The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage…

A new OnePoll survey of 2,000 UK adults commissioned by credit experts TotallyMoney has shown that many people don’t fully understand the cover they get through their credit card. If the item you pay for is worth over £100, but less than £30,000, you are covered by Section 75 if you make any of that…

Here is an overview of The Money Charity’s latest statistics for August 2019: Personal debt in the UK People in the UK owed £1,642 billion at the end of June 2019. This is up from £1,596 billion at the end of June 2018, an extra £887 per UK adult over the year. The average total…

Spending on UK credit cards hit an all-time high in July according to new figures from the trade body for UK banking and financial services UK Finance The figures show credit card spending totalled £12 billion in July – the highest on record, an increase of 8.2% on July 2018. The findings may fuel fears…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in June by 4%, compared with the same month last year. The retail store and online credit sector reported new business up by 3% in June compared with the same month in 2018, while credit card and personal…

Numbers released this morning by the Financial Ombudsman Service  (FOS) show that complaints during Q1 of the FOS complaints year (starting 1st April 2019) are down considerably on the same period last year. In the first three months of this financial year, FOS received 136,681 new enquiries and 70,304 new complaints – with 12,538 complaints…

Visa’s UK Consumer Spending Index, compiled by IHS Markit, signalled a further fall in overall household spending during July. At -1.2% year-on-year, the reduction was modest and softer than that seen in June (-1.4%). Nonetheless, this extended the current period of declining spend to ten months, to mark the longest sequence of falling expenditure since…

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…

Six out of 10 people (62%) don’t know how their credit report is used, according to TransUnion. When it comes to student loans, nearly a third (32%) aren’t sure whether it would affect their credit score, whilst 18% wrongly believe a student loan would have a negative impact. This year will see record numbers of…

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