A new report has highlighted the gap in responsible lending, highlighting that affordable credit providers make just £250 million of loans, while over the same period, high-cost short-term credit providers lend £3 billion – more than ten times as much. The report titled ‘Transforming affordable credit in the UK’  identifies affordable lenders who operate with…

Two-in-five (40%) UK employees say they are living payday-to-payday and have no emergency savings, and nearly a third (29%) have financial problems that are negatively affecting their lives, according to a study of more than 4,000 UK employees by Willis Towers Watson. Women were a third more likely than men to be financially stressed (48%…

IHS Markit’s UK Household Finance Index (HFI) hit 47.6 in February, from 44.6 in January, as UK households’ perceptions of their financial wellbeing rose to its highest-ever levels. The Household Finance Index rises to 47.6, from 44.6 in January as UK households foresee a solid improvement in their financial health over the next 12 months.…

A third of undergraduates are using loans, overdrafts and credit cards to pay rent at university, the National Student Accommodation Survey 2020 has found. Some are even taking out payday loans to pay their landlords. The annual research by money advice site Save the Student polled 2,168 students, and reveals widespread borrowing among undergrads. Although 36% turn…

A new guide has been published to help financial firms — and other creditors — better understand and support customers struggling with both debt and mental health problems. Research by the Money and Mental Health Policy Institute shows that half of all people in problem debt in England also have a mental health problem, which…

Retired homeowners saw their property wealth increase by more than £3,150 in the past year despite the impact of political and economic uncertainty on the housing market, analysis* from UK’s leading independent equity release adviser Key shows. Total property wealth owned by over-65s who have paid off mortgages is valued at £1.133 trillion and has increased…

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…

Eight in ten businesses believe data is one of their most valuable assets, but a high degree of inaccuracy is hindering critical initiatives, new research from Experian has revealed. The annual Global Data Management report, which surveyed 1,100 data practitioners and data-driven business leaders globally, found that businesses are still struggling to incorporate meaningful data…

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…

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