Secured loans, often referred to as second charge mortgages, have cemented their position as the fastest-growing segment in the post-pandemic UK property finance market, according to new research by Pepper Money, the specialist mortgage lender. Analysis of official data from the Bank of England and the Finance & Leasing Association (FLA) shows that the second…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s second annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 97 entrants (whittled down from over 100 entries) from 73 companies within the shortlist, there are 23 partnerships in the running to win across the 20 categories.…
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New research by SunLife has found that seven in ten over 50s are struggling with their water bills. The average water bill is set to rise by an average of between £79 and £224 with 71% are already spending more on their household bills than they were a year ago, while 61% are spending more…
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As consumers brace themselves for the higher prices kicking in from today (1st April) across bills including energy, water and broadband, those on the lowest incomes are running out of options, Citizens Advice warns. Households in the lowest 10% for income already spend around two-fifths (41%) of their earnings, after housing – on water, energy,…
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Nine million households need to read their meter by 1st April to avoid the risk of overpaying on their energy bills by a collective £34 million, according to research by Uswitch.com, the comparison and switching service. To avoid the higher price cap, which comes into effect on 1st April, households on standard variable tariffs (SVTs)…
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A new Public Accounts Committee (PAC) report has warned that bill payers remain exposed to another energy crisis while facing ‘worryingly high’ energy debts and some of the highest electricity costs in the world. The public accounts committee (PAC) said that the Government has more to do to convince Parliament of the security of UK…
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A new study by Go.Compare has revealed that an estimated 6.6 million people now rely on their credit cards to pay everyday bills such as groceries and utilities. In total, 17% said they need their card to afford their bills, with 13% stating that the cost of living crisis is the reason for this. This…
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New research by Stepchange has found that more than one in four (27%) adults in the UK, equivalent to around 15 million people, would be unlikely to speak to a friend, partner or family member about debt problems. The polling, conducted by Censuswide on behalf of StepChange, found generational and gender divides when it comes…
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StepChange Debt Charity’s 2024 Statistics Yearbook, published to mark the start of Debt Awareness Week, has revealed tha the average StepChange client is £3,911 in arrears on household bills, a jump of 25% from £3,124 in 2023. Overall, the average amount of debt per StepChange client jumped 7%, from £16,706 in 2023 to £17,936 in…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased decreased by 4.1% in February 2025 to 10,147 when compared to January 2025’s total of 9,752, and decreased by 5% when compared to February 2024’s figure of 10,684. The personal insolvency figures consisted of 600 bankruptcies, 3,865…
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A new study has estimated that 5.7 million people are struggling to keep up with their credit card repayments. The research by Go.Compare found that just over one in ten (14%) credit card holders said they were finding it hard to meet their repayments, meaning millions could be grappling with debts across the country. Young…
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Research from consumer group Which? has found that three in ten (28%) of people have been put off from making a major purchase including items such as cars, furniture and electronic devices – in the last month because they were worried about their future household finances. The data also showed that the estimated number of…
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Hundreds of thousands of children in the UK from migrant families are affected by poverty and are being held back in life, wth nearly half of children in families with parents born outside of the UK are in poverty. The data from Public Policy Research (IPPR) has shown that 46 per cent of children of…
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