Energy suppliers have increased the cheapest energy deals by £180 in a year, since the start of July 2020, with the new price cap level expected to rise for millions of households, according to research from comparethemarket.com. The increase comes as energy deals have reached the highest cost for more than two years. The average…

Latest figures from the Insolvency Service have indicated that personal insolvency numbers across England & Wales decreased by 4.3% compared to Q1 2021’s figures. There were 27,622 seasonally adjusted individual insolvencies in Q2 2021, a fall of 4.3% compared to Q1 2021’s figures of 28,895 and a fall of 13.9% compared to Q2 2021 (32,134).…

New research by LifeSearch has found that 14% of consumers have repaid debts in the last six months, rising to 20% of Generation Y (aged 25-39);  an average of £319 was repaid per month, totalling £2.4 billion nationwide, and rising to £469 pm among the over 55s. A further 7% have overpaid on their mortgage,…

The number of borrowers releasing equity from their homes has neared pre-pandemic levels in the second quarter of this year, according to the latest figures from the Equity Release Council (ERC). There were 20,352 new and returning customers in the market between April and June, a rise from 16,527 in Q1 2021 and 13,617 in…

The number of debt judgments registered against Northern Ireland consumers in the first half of 2021 (H1 2021) was 1,678, a fall of nearly 12 per cent from the 1,900 in the same period last year, according to figures released by Registry Trust. But, the total value of judgment debt owed by consumers rose by…

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…

Nearly one in three people are retiring in debt this year with an average £20,650 to pay off, new research by equity release adviser Key, has indicated. People expecting to retire this year are facing debts around a fifth higher than those who finished work last year the study shows – although the number of…

New research by LifeSearch has indicated that consumers’ wealth continues to recover as £14.1 billion of debts repaid and £34.6 billion saved in the past 6 months. The research has found that 14% of consumers have repaid debts in the last six months, rising to 20% of Generation Y (aged 25-39);  an average of £319…

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…

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