New research from Aviva has revealed that a quarter (25%) of middle-aged (45-54-year-olds) consumers (equivalent to 2.25 million people) say their total debts have increased in the 12 months to April 2021.  This is despite headline figures claiming that consumers have saved more than £180 billion during the Covid-19 pandemic. One in five (18%) of…

EQ Credit Services has released its latest UK research report into the unsecured lending sector which has revealed some startling consumer attitude shifts including a ‘new nervousness’ characterising the current credit market. This appeared most acute amongst the youngest generation (age 18-24), with over half of this group responding that they would only be prepared…

New figures released by the Finance & Leasing Association (FLA) have shown that consumer finance new business grew in March 2021 by 7% compared with the same month in 2020.  In Q1 2021, new business was 17% lower than in Q1 2020. The retail store and online credit sector reported growth in new business of…

Younger people’s finances have been hit hardest by the pandemic, and they are increasingly willing to securely share their bank transaction data to get access to financial products that can help them weather the storm, according to the latest findings from Credit Kudos’ Borrowing Index. The research found that Under 35s are three times more…

Credit Connect’s hosted its first-ever Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors. The themes of fraud, open banking, credit risk and the future of lending were discussed by panellists and Chair Chris Warburton from…

New research by Experian has revealed that the average debt in the UK has dropped by 32% (nearly one third) over the past year of living with the enforced Covid-19 lockdowns. The average credit balance across all accounts, excluding mortgages, is now £7,851 – when it was £11,615 at the start of March 2020 and…

Here is an overview of The Money Charity’s latest statistics for April 2021 Personal debt in the UK People in the UK owed £1,698.4 billion at the end of February 2021. The average total debt per household, including mortgages, was £60,935 and per adult was £32,053, around 108.2% of average earnings. Net mortgage lending rose by…

New research from credit management company Lowell has found that half of consumers have never checked their credit score. Thre research also found that one-third of consumers (32%) don’t know how to check their credit score, leaving them open to possible identity fraud and a lack of financial awareness whilst many consumers are unsure what…

Since the pandemic began, 45% of households have started scrutinising their finances more regularly, compared to just 4% who said they paid less attention to their spending, according to new research from comparethemarket.com. The research also found that for those who are paying closer attention to their outgoings,  nearly half (45%) are concerned about running…

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