Latest data from the Bank of England has shown that the number of new mortgages competed by lenders jumped 50.4% to £77.6 billion in the first three months of the year compared to 12 months ago, hitting the highest quarterly level for more than two years. The data shows that the outstanding value of all…
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The Government has announced in a Written Ministerial Statement that the Ministry of Justice will be consulting on how to implement regulation of the enforcement sector. The Government says the review will aim to increase protections for those facing debt enforcement action and raise fees recoverable by bailiff firms. Setting out plans to overhaul to…
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New research by abrdn Financial Fairness Trust has found that over a third of households (34%) are cutting their use of water instead, with one-in-five (19%) reducing the number of showers or baths they take. The data showed that 24% report their energy bills have increased ‘a lot’ and 29% say their water bills have risen…
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Nearly one in four UK adults (23%), around 12.5 million people, have no savings to fall back on in a crisis, according to new research from StepChange Debt Charity. Four in five (78%) of those with no rainy day savings say they find it difficult to keep up with living costs. As cost of living…
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Credit Connect hosted its first Spring Credit & Collections Technology Think Tank in York, which saw credit and collections strategies discussed by thirteen professionals from a variety of industry sectors at the Milner Hotel The event Chair, Chris Warburton from ROStrategy said “Thanks to everyone who attended the Credit Connect Think Tank event in York…
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The winners of the 2025 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 22nd May) at the Milner Hotel in York There were eighteen winners (four of which were partnership wins) from the twenty awards categories, which were presented by awards compare’ Brennan Reece. The Credit & Collections…
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The annual cost of household bills has risen by £112 on average year-on-year, according to new research by Compare the Market. The research analyses the cost of energy, water, home insurance, motor insurance, and council tax. It reveals that the combined cost of these household bills has risen by 2% on average, compared to 12…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 7.9% in April 2025 to a total of 10,012 compared to March 2025’s total of 9,282, and increased by 4.4% compared to April 2024’s total of 9,586. The personal insolvencies consisted of 589 bankruptcies, 3,837 debt…
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Latest monthly statistics from the Insolvency Service show that in April 2025, personal insolvencies increased while business insolvencies declined in Northern Ireland. The data showed that there were 123 individual insolvencies in Northern Ireland. This was 10% higher than in April 2024. There were 95 IVAs, 16 bankruptcies and 12 DROs. Business insolvency data shows there were 30…
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Latest UK Finance card spending data has found that outstanding balances on credit card accounts have grown by 5.6 per cent over the twelve months to February and 48.8 per cent of outstanding balances incurred interest compared to 50 per cent in February 2024. There were 334.3 million credit card transactions in February, 1.4 per…
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UK Finance has releaseed its latest mortgage arrears and possessions data for Quarter 1 (Q1) 2025, which shows that there were 90,140 homeowner mortgages in arrears fell by two per cent in Q1 2025 compared to the previous quarter. The number of Buy-to-let (BTL) mortgages in arrears also fell, down six per cent compared…
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Latest Ministry of Justice statistics out today show a 31% increase in mortgage possession claims year on year in the first quarter of 2025. The data showed that compared to the same quarter in 2024 there were increases in mortgage possession claims from 5,182 to 6,765 (31%), orders from 3,013 to 4,624 (53%), warrants from 2,919…
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The Chancellor of Duchy of Lancaster The Rt Hon Pat McFadden has announced that the Government will consult on council tax debt collection practices. This announcement comes as new StepChange polling revealed today finds that over eight in ten (84%) UK adults oppose households having to pay their annual council tax bill in full if…
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