Over 50s are increasingly financing not just one, but two generations; boosting spending money, gifting lump sums, or providing childcare – totalling £53bn per year according to new research from Saga. The research has revealed that 69% of over 50s provide financial support to their children and 57% to their grandchildren. In fact, four in…

Credit reference agency TransUnion, has announced the launch of CreditView – a new, white-labelled, interactive solution which provides consumers with access to their credit scores whilst helping finance providers to engage customers, increase brand loyalty and personalise offers. CreditView comes in a modular format, which can be tailored to create individual brand experiences. The app-based…

New research by Which? has found that more than seven million people have been left unable to use their payment card due to IT glitches in the past year. One in seven people surveyed for the consumer group could not use their debit or credit card due to an outage – equating to 7.3m people…

Households have been pushed nearly £2,000 into the red in the period since Theresa May became prime minister, according to TUC analysis as she prepares to resign the Conservative Party leadership. In every reported quarter since her arrival in Downing Street (2016 Q4 to 2018 Q4), families’ outgoings have outstripped their incomes. This has resulted…

The Financial Conduct Authority (FCA) has confirmed it is introducing reforms to fix a dysfunctional overdraft market. These changes will make overdrafts simpler, fairer, and easier to manage and will protect the millions of consumers that use overdrafts, particularly more vulnerable consumers. The changes represent the biggest overhaul to the overdraft market for a generation.…

Consumer credit increased by £0.9 billion in April, in line with the monthly average increase since July 2018. The annual growth in consumer credit continued slowing, to 5.9% from 6.4% in March – its slowest rate since 2014 – as households limited spending on credit cards and cut back on finance deals. The figures highlighted…

Here is an overview of The Money Charity’s latest statistics for May 2019: Personal debt in the UK People in the UK owed £1,633 billion at the end of March 2019. This is up from £1,588 billion at the end of March 2018, an extra £852.40 per UK adult over the year. The average total debt per…

Latest household finance update statistics from UK Finance, show that £11.4 billion was spent on credit cards in April 2019 this was 11.7 per cent higher than the same month in 2018, This growth in spending reflects consumers’ increased preference for using credit cards as a means of payment, particularly online, because of purchase protection…

Visa’s UK Consumer Spending Index, compiled by IHS Markit, pointed to a further marginal decline in overall household spending at the start of the second quarter. Expenditure fell -0.5% on an annual basis during April, which was slightly quicker than the -0.2% reduction seen in March. Consumer spending has now fallen in each of the…

Financial wellbeing is deteriorating at its fastest pace since September 2017 despite a sustained rise in income from employment according to a new report IHS Markit. The report found that household finances were squeezed to the strongest extent since September 201 whilst workplace activity and incomes from employment continue to rise. The outlook towards future…

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