The Bank of England has today published its latest monthly Money and Credit report showing consumer credit growth slowed to 6.6 percent in the year to December 2018. Outstanding balances for consumer credit stand at £215.6 billion. The Bank of England says that the credit growth slow down reflects the continuation of relatively weak flows…

Nearly one million (900,000) people who’ve never switched energy supplier could cover the cost of their Christmas borrowing by changing to a better deal. New analysis from Citizens Advice shows that around 3.2 million people in Britain borrowed up to £150 to cover the cost of Christmas in 2018, almost 1 million of whom have…

New survey findings commissioned from YouGov by StepChange Debt Charity reveal that more than a quarter of us (27%) started the New Year feeling uneasy about our finances. Among people who feel uneasy, two thirds (65%) have felt this way for more than a year. A fifth (22%) have felt uneasy for more than five…

The Insolvency Practitioners Association (IPA) has announced a new regulatory framework for the continuous monitoring of the use of an Individual Voluntary Arrangement (IVA) by the high-volume IVA providers. The Insolvency Service classifies high-volume as those firms that are responsible for 2% of the total number of IVAs annually. An IVA is one of the…

Consumers are bracing themselves for a major financial crisis and housing crash this year according to a new poll from Spearvest, a wealth management firm. The study, conducted by independent survey company Censuswide asked 1,000 members of the UK public about their views on the economic outlook for 2019. A total of 44 per cent…

Data from the latest report from the Bank of England data shows that the annual growth rate of consumer credit slowed in November 2018, but credit card lending was still 7.9% higher than a year earlier, with other consumer credit lending up by 6.6%. Commenting on the latest figures, StepChange Debt Charity CEO Phil Andrew…

New research released by Nucleus Commercial Finance has revealed that 74% of UK SME leaders are fearful about what 2019 holds. The majority of SME leaders have concerns about the impact one or more external factors will have on their business. Brexit leads the way (27%) and is closely followed by: The sudden loss of…

Charity, Action for Children has warned that the UK risks ‘Dickensian’ levels of poverty as a new analysis of official government data¹ shows a million children under 10 years old face a desperate Christmas this year. The Charity says that ss other young children spend December writing their Christmas wish-list to Santa, a million under-10s from low-income…

Young people whose parents have property wealth are now almost three times as likely to be homeowners by the age of 30, compared to those whose parents have no property wealth, according to Resolution Foundation research. With the ‘Bank of Mum and Dad’ now considered to be a key lender for first-time buyers, House of the…

The Joseph Rowntree Foundation JRF) has released a new report which highlights than Britain are going into Brexit with half a million more children trapped in poverty, this following a relentless rise in the number of working families struggling to make ends meet over the last five years. It means in a typical classroom of 30 children, nine are now living in…

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