A new independent report, which contains 13 recommendations to address the urgent financial wellbeing implications of the Covid-19 pandemic, has been released by the Challenge Chairs who advise the Money and Pensions Service (MaPS) on the UK Strategy for Financial Wellbeing. These recommendations, which include immediate actions, such as help with credit for people coming…

Nearly two in five (38%) retirees aged 54 and over say their monthly expenditure exceeds their household’s income, either on an occasional or regular basis according to new research from equity release lender more2life and economics consultancy Cebr The research also indicated that a third (33%) of women aged over 54 who have taken on or held…

Accountant in Bankruptcy has published its latest figures which indicate that there were 7,003 personal insolvencies in the year to the end of September 2020, 3,275 (31.9%) fewer than in the same period the year before. Bankruptcies decreased by 37.5% in the year to the end of September 2020 when compared with the same period…

The Insolvency Service has published its latest figures which indicate that in September 2020 there were 143 individual insolvencies, down 54% from September 2019; Personal insolvencies consisted of 109 IVAs, 20 DROs and 14 bankruptcies. The figures fell by over half compared with September 2019. Business Insolvencies in Northern Ireland decreased by 72% from September…

The Insolvency Service has published its latest figures which indicated that in September personal insolvencies in England and Wales increased to 7,450 in September 2020 compared to August’s figure of 6,372, but remained well below September 2019’s figure of 12,256 There were, on average, 4,639 IVAs registered in each of the 3 months ending September…

Totallymoney.com research has revealed how much customers could save by avoiding finance options at car dealerships with £300 million being lost every year across the UK due to commission-focused dealerships The research showed that the majority of new car registrations (nine in ten) were financed through dealerships in 2018 with nearly three-quarters of people (68%)…

Pent-up demand and government incentives jolted the UK’s property market back to life this summer despite caution from lenders about the effects of Covid-19, according to a new Experian report. Experian’s research in Lending with Confidence: A data-led Analysis of the Mortgage Market has revealed that mortgage applications increased year-on-year by 13% in July, followed…

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 52% in August 2020 when compared with last year. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer & Mortgage Finance at the Finance & Leasing…

Almost three million households owe £188 million to their energy suppliers before winter has even begun, half a million more households than 2019 according to the latest winter energy debt research from Uswitch.com. The jump in the number of homes in debt comes at a time when energy accounts should ideally be in credit after…