The Bank of England has published its latest mortgage lenders and administrators return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators. The figures show that the value of outstanding mortgage balances with some arrears increased for the first time since 2016…
Barclays mobile banking customers can now choose to block their ability to spend with certain types of retailer, in a move designed to help vulnerable customers struggling with addictions. The move is designed to help customers take more control of their finances. The new feature could help those dealing with gambling problems, for example, to…
Money Advice Service research has revealed that 45% of parents say their children are more likely to pester them for money or to buy them things in the lead up to Christmas. ‘Pester power’ is the ability children have to convince their parents to buy something, by asking for something repeatedly. A third of parents…
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…
According to the Joseph Rowntree Foundation’s UK Poverty 2018 study, water arrears weighs heaviest on the poorest families – ahead of other debts including council tax, rent and energy bills. The findings echo the concerns of the Consumer Council for Water (CC Water) which has been pressing water companies to do more to ensure financial support reaches 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…
The Money Advice Service (MAS) has launched new guidance which they say will assist Local Authorities to take a more progressive approach to the recovery of Council Tax, encouraging improved resident engagement, fairer outcomes and sustainable arrears repayments. Across the UK, the number of overindebted people is approximately 8.3 million. Furthermore, a third of people…
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 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 debt management…
The Bank of England has released its latest Money & Credit data indiating that consumer credit increased by £0.9 billion in October, similar to the previous few months, but below much of the period since 2016. Mortgage market activity remained broadly stable in October. The flow of mortgage lending increased to £4.1 billion in October…
European credit management firm Intrum, has published a new European Consumer Payment report based on a survey with responses from 24 398. European consumers. Intrum, who are in contact with 250 000 indebted consumers around Europe every day, sees a widening gap in the wake of a rising economy. While more and more people are able…