New research on average spend on credit cards rises in lead up to Christmas has indicated that it is only 2.6 percent lower than in November 2019 despite nationwide lockdown. Meanwhile, separate statistics show that the average balance of accounts missing two payments is at its highest in the last six years Stacey West, Principal…

Here is an overview of The Money Charity’s latest statistics for December 2020 Personal debt in the UK People in the UK owed £1,688.5 billion at the end of October 2020. The average total debt per household, including mortgages, was £60,580 and per adult was £31,867, around 109.1% of average earnings. Net mortgage lending rose by…

The divide between the ‘haves’ and the ‘have nots’ continues to grow starkly as we move towards the end of a year dominated by the Covid-19 pandemic, according to the December 2020 Money Statistics, produced by The Money Charity. As statistics move into the final months of 2020 and with winter still to come, the…

Total debit and credit card spending in the UK fell slightly in September, with 4.2 per cent fewer transactions than in August, as tougher Covid-19 measures were introduced according to new analysis by UK Finance Card spending data also revealed that the proportion of contactless payments continued to increase in September to reach its highest…

New analytics by FICO has shown that average spending on credit cards fell for first time since May. Average credit card limits continued to fall by a further £22 to £5,382 and as issuers start to open their doors to new credit applications, this limit may continue to drop. The highest proportion of accounts, 28.9…

New research has found that 45.5% of people have been forced to take out some kind of financial facility or borrow money from friends/family due to the pandemic according to KIS Finance. Alongside this, a further 43.2% of people expect to seek out more financial help before the end of the year. Young adults between…

UK Finance has extended the Authorised Push Payment (APP) C for a further six months until 30th June next year. A group of seven signatories has agreed to extend the code which compensates eligible victims of APP scams where the customer, sending and recipient banks have met the standards expected of them . The Code,…

Average Christmas spend has fallen by £268 from this time last year, going from £1,057 (2019%) down to £789 (2020), according to new research from AA Financial Services. Asking a nationally representative sample of 2,131 adults what they planned to spend on socialising, decorations, food, travel and accommodation, the research found that, on every count,…

New figures released by the Finance & Leasing Association (FLA) have shown that consumer finance new business fell in October 2020 by 11% compared with the same month in 2019, and decreased by 18% in the ten months to October 2020. Consumer car finance new business by value and retail store and online credit each…

Latest figures from UK Finance have that there are 127,000 mortgage holidays (payment deferrals) in place in mid-November, a significant reduction in customers seeking this form of support from June’s peak of 1.8 million The figures indicate that the number of payment deferrals across mortgages and consumer credit reduced in recent weeks as more customers returned to making repayments or sought alternative…