New research by consumer group, Which? has found that some fraud victims are being left without satisfactory support from banks. The research found that while 83% of victims of fraud or fraud attempts in the past 12 months said they were satisfied overall with how their bank had managed the incident, some customers struggled to…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 28% in June 2021 compared with the same month in 2020.  In the first half of 2021, new business was 18% higher than in the same period in 2020. The retail store and online credit sector reported…

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…

Latest Bank of England (BOE) data has shown that mortgage borrowing hit a record monthly high in June, climbing to £17.9 billlon. This marks a 163% jump on the £6.8bn recorded in May. The increase came as buyers looked to complete deals before the stamp duty holiday started to taper. While the threshold at which…

Barclays reported a large rise in first-half profit driven by a drop in credit impairment charges as the economy recovers. Pre-tax profit for the six months through June jumped to £4.98 billion, up from £1.27 billion year-on-year. Credit impairment releases fell to £742 million, down from £3.79 billion, more than offsetting a 3% drop in…

Virgin Money has cut the amount of money put by for bad debts in the pandemic, releasing £19 million of cash set aside for loans that could turn sour in its third quarter. The lender added that the remaining £678 million of provisions could be cut further alongside full-year results if the rebound in the…

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…

1 2 3 162