The total number of county court judgments (CCJs) registered against consumers in England and Wales fell year-on-year for the first time in five years during the first half of 2018, according to figures released by Registry Trust. During Q1 and Q2 2018, 571,555 judgments were registered against consumers in England and Wales, falling four percent…
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Latest figures from UK Finance’s Mortgage Trends update for Quarter 2 2018 show a continued growth for UK remortgaging with London remortgaging activity reaching a nine-year high. Commenting on the data, Jackie Bennett, Director of Mortgages at UK Finance, said “Remortgaging in London reached its highest level in nine years in the second quarter of this year, as…
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Personal insolvencies are on track to hit 105,000 per annum by 2022, breaking highs last seen six years ago, according to the latest econometric forecast from Arrow Global’s ‘Debt Britain 2018’ research. Analysis shows that personal insolvencies have been on the increase since 2015 and rising interest rates on the back of the Bank of…
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Debt Purchaser, Lantern has announced the appointment of veteran banking executive Gary Jennison as Non-Executive Chairman. William Ballmann, partner at Gateley PLC, who has been serving as Non-Executive Chairman of Lantern since 2016, will remain on the Board as a Non-Executive Director. With over thirty years’ experience in banking and lending, Jennison was most recently…
Read moreAccording to new research by the Money Advice Service, in partnership with the National Association of Student Money Advisers (NASMA), around one in ten undergraduate students have fallen behind on or missed payments in the last six months. 11% of students surveyed in April had fallen behind or missed payments on university accommodation, credit cards,…
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Citizens Advice is calling for better regulation of unaccountable bailiff firms as it reveals households have fallen behind on their essential bills, such as council tax and utilities, by an estimated £18.9 billion. Last year, the charity helped one person every 3 minutes with bailiff issues. In 2014, the government introduced reforms which were meant…
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The number of households in personal debt default is set to increase to 3.8 million by the end of 2022, up from 3.3 million at the end of 2017 according to the latest econometric forecast from Arrow Global’s ‘Debt Britain 2018’ research. Arrow Global’s forecast is based upon analysis of the Office of Budget Responsibility…
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Recent independent research of UK employees commissioned by expenses management software company Expend has highlighted that Generation Z and Generation Y employees are the most negatively impacted by facilitating their employers’ expenses. Over a quarter (27%) of Generation Z employees (18-24 year olds) have not been able to pay off credit card bills because they have…
Read moreA third of loan searches carried out through Experian’s comparison services are for debt consolidation loans, new analysis has revealed. These type of loans can help consumers with outstanding debts from various lenders to roll their monthly payments into one to reduce their costs and to take more control over their finances. On average, shoppers…
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In the same month that the Bank of England base rate has risen to 0.75% – the highest level since 2009, debt growth has fallen to its lowest level in over a year. According to the August 2018 Money Statistics, produced by The Money Charity, debt growth per adult slowed to £900.74 in the year…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2018 was 38, 2.6% lower than in the same quarter in 2017. The annual rate of second charge mortgage repossessions (as a percentage of average outstanding agreements) in the twelve months to June 2018…
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New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in June by 9%, compared with the same month last year. Credit card and personal loan new business together grew by 10% compared with June 2017, while retail store and online credit new business increased by 5%. Second charge…
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Here is an overview of The Money Charity’s latest statistics for August 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. Per adult in the UK that’s an average debt of…
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