More than 218,000 households could be automatically moved onto more expensive ‘default’ energy tariffs this month if they do not switch tariffs or providers when their deals come to an end according to new analysis by comparethemarket.com In May, there are 157 fixed energy tariffs coming to an end,  which could mean an average increase…

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…

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes remained stable in March 2021. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “In…

Latest Bank of England (BoE) figures show that UK homeowners borrowed a record £11.8 billion more on mortgages than they repaid in March, with market activity driven by the stamp duty holiday and low mortgage rates. Gross mortgage borrowing hit £35.6 billion in March, with buyers looking to tie up property purchases ahead of the…

The Insolvency Service has published its latest personal insolvency Quarterly figures in England & Wales which have indicated that there were 29,140 seasonally adjusted individual insolvencies in Q1 2021, a fall of 5.3% compared to Q4 2020’s figure of 30,769, and a rise of 0.7% compared to Q1 2020 (28,936). Commenting on the figures Colin Haig,…

Hundreds of thousands of people struggling with debt problems will be supported through the newly launched debt respite scheme. The Breathing Space measures will give those facing financial difficulties space to receive debt advice, or mental health crisis treatment, without pressure from creditors or mounting debts. Under the scheme, people will be given legal protection…

Radical changes to the UK’s social security safety net during the pandemic should prompt a wider public debate about its successes and failures, and how Britain’s post-pandemic welfare system can be further improved, according to a new Resolution Foundation report. With the crisis prompting the Government to introduce radical new policies, such as the Job…

Newly released government figures show 12.5 per cent of households in England are estimated to be in fuel poverty in 2021. The projection represents a reduction from the figure in 2019 of 13.4 per cent (3.18 million), which Business, Energy and Industrial Strategy Committee (BEIS) attribute to the progress in energy efficiency. The aggregate fuel…

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