One in eight customers used Buy Now Pay Later (BNPL) services for the first time in 2024 – an estimated 6.8 million people according to new research from personal finance site Finder. Three in ten (31%) used buy now, pay later (BNPL) services last year. BNPL is particularly popular with younger people with one in…
Read moreOne in seven retirees are returning to work or are considering doing so, with financial pressures, a lack of pension provision and desire for social connection driving this, according to new research from Standard Life. 7% of retirees aged over 55 have already gone back into work, with a further 2% actively looking for employment.…
Read moreLatest data from Accountant in Bankruptcy has found that personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for Quarter 3 (Q3) 2024-2025 decreased by 11.4% compared with the same quarter in 2023-2024, which totalled at 1,784. The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland also decreased by 6% when…
Read moreThe Institute of Directors (IoD) Economic Confidence Index, which measures business leaders’ optimism about the UK economy, crept up to -61 in December 2024 from -65 in November. The rise represents the fourth-lowest reading of the index since its introduction in July 2016. Business leader confidence in their own organisations also rose to +8 in December, from…
Read moreAlmost one in two (48%) university students have been struggling to repay their credit card balance within three months according to research by Compare the MArket, with the main reasons being the rising cost of everyday expenses (33%), increased university costs (31%), and having to prioritise other household bills such as energy or rent (23%).…
Read moreA third (34%) of single parents have missed paying a household bill to cover the cost of Christmas according to research debt counselling service Money Wellness, More than 50% of single parents with three or more children said being alone made it harder for them to afford the festive period. One in ten said they…
Read moreComplaints regarding banks’ handling of fraud have reached a record high, with the Financial Ombudsman Service (FOS) reporting 9,091 cases from July to September, a significant increase from 6,264 in the same period last year. This surge includes 4,956 cases related to authorised push payment (APP) scams, where consumers mistakenly send money to fraudsters. In…
Read moreLaw firm Flint Bishop has appointed Shona Houghton as a Partner in its Debt Services division as it prepares to open a new office in Cardiff in Q1 2025, aimed at further expanding its capacity and service lines. Houghton joins Flint Bishop from the London-based law firm Francis Wilks & Jones, where she previously served…
Read moreHomeowners in parts of northern England are more than twice as likely to be in mortgage arrears than those in the south, according to new analysis of Financial Conduct Authority (FCA) data by longer-term lender April Mortgages. The latest mortgage arrears data provided by the FCA shows that the North East (1.76%) has the highest…
Read moreGlobal service provider for credit information provider Creditinfo has announced the appointment of Charles De Winnaar as its Global Head of Sales Strategy and Sales Operations. As an experienced sales leader in financial services, De Winnaar will lead Creditinfo’s global sales strategy and operations across its network of 30 credit bureaus. He joins the company…
Read moreFood and drink producers recorded the strongest growth in output of any sector last month as inflationary pressures drove manufacturing price hikes, Lloyds Bank UK Sector Tracker data has revealed. Higher demand helped the UK food and drink manufacturing industry score 59.2 in July, compared to 56.9 the previous month. However, the research also said…
Read moreMore parts of the economy grew in May than at any time in the last 15 months according to the latest Lloyds Bank UK Sector Tracker. While the overall rate of output growth across the economy slowed marginally in May (53.0 vs. 54.1 in April), 11 out of the 14 UK sectors monitored by the…
Read moreLatest data from the Financial Ombudsman (FOS) has shown that financial complaints have risen by 20% according in the last 6 months according to latest half-yearly data figures. The data from the second half of 2023 showed that overall FOS received a total of 95,349 complaints between 1st July and 31st December 2023, compared to…
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