Levels of arrears and repossessions are expected to grow this year, according to Jackie Bennett, Director of Mortgages at UK Finance, at the UK Finance Speaking at a UK Finance annual mortgage lunch,  Bennett noted that arrears were at a historic low in 2017 with 89,000 people with arrears balances of 2.5% or more of their…

Greater organisational collaboration across the financial services sector, working alongside law enforcement and Government agencies, will be the key means of putting cybercriminals out of business according to the latest report from UK Finance and KPMG launched today. The report, “Staying Ahead of Cybercrime”  discusses how greater cooperation both within businesses and between firms, law enforcement…

The Financial Conduct Authority (FCA) is urging the public to be alert to the growing threat of loan fee scams targeting borrowers. This plea comes as last year over £3.5 million was lost to loan fee fraud and reports to the FCA consumer helpline increased by 44%. Victims of loan fee fraud are often targeted…

More than four in 10 consumers have admited they struggle to make ends meet financially, a study has found. The findings, from a survey of 2,000 UK adults, revealed 43 per cent are short of the cash they need to pay the bills an average of seven months each year.But one quarter said money is…

Here is an overview of The Money Charity’s latest statistics for April 2018: Personal debt in the UK People in the UK owed £1.578 trillion at the end of February 2018. This is up from £1.53 trillion at the end of February 2017– an extra £1,169.92 per UK adult. Per adult in the UK that’s an average debt of…

According to research by Callcredit Information Group, 30% of consumers see defaulting on a loan payment as being the fault of the lender rather than the borrower. The study also revealed that consumers are increasingly feeling financial pressure, with almost half (45%) saying the financial burden on their personal finances has increased and that they…

Identity intelligence specialist GB Group has announced its latest financial results. In a statement, the company said it expects to report a 53% improvement on its operating profit. In a trading update ahead of its final results in June, the Chester-based business said it anticipates operating profits of £26m for the year to March 31,…

UK fraud prevention service, Cifas has released a new report identifying and detailing the fraud trends from over 300,000 cases of fraudulent conduct recorded in 2017. The data, from 306 organisations, including many major UK brands, is one of the most comprehensive pictures of fraud and fraudulent attempts in the UK. Although there has been…

Millions of consumers looking to apply for a mortgage, credit, a new mobile phone contract, or even a better utility deal, risk being rejected because of false errors on their credit reports according to research by Amigo Loans. The UK’s largest guarantor lender’s latest research has found that 42% of people who check their credit…

Thousands of self-employed, agency and zero-hours contract workers will be potentially hundreds of pounds a year worse off under universal credit, according to research. Analysis by Citizens Advice claims that flaws in the new benefit mean self-employed workers whose earnings fluctuate monthly could receive far less over the course of a year than employees in…

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