Millions of households across the UK will be left in the cold and dark this winter, with energy prices forecast to rise by more than £150 a year according to Fuel Bank Foundation. The Foundation says that households using prepayment meters who are forced to pay upfront for their gas and electricity will be hardest…
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Over two fifths (43%) of UK adults believe that their financial situation will improve in the next 12 months, new research by SmartSave, a Chetwood Financial company, has found. The digital bank commissioned an independent, nationally representative survey of 2,000 UK adults. Of those who said they thought they would be in a better financial…
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Cabinet ministers including the Deputy Prime Minister, Chief Secretary to the Treasury as well as ministers for the devolved nations have joined the taskforce’s co-chairs, the Work & Pensions and Education Secretaries, to confront the wide-ranging and deep-rooted causes of child poverty. The government says the ministerial taskforce will harness all available levers to drive…
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Credit Connect has published its first-ever annual Credit & Collections Industry Awards Review. The annual review highlights why the judges decided the winners at this year’s Industry Awards which were announced in July. The review provides background and context for the awards results recognising companies for the progression of industry standards and excellence. The review…
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Latest research by Which has found that consumer sentiment rose in the week following the general election, with consumers feeling slightly more confident about their household finances and the future UK economy. Consumers’ confidence in their future household financial situation and the future UK economy rose in July, both reaching a net score of 0.…
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Latest Ministry of Justice (MoJ) data has shown that mortgage and landlord possession volumes between April and June increased when compared to the same period last year. The data shows that mortgage possession claims went up by 34% from 3,991 to 5,343, mortgage orders for possession also went up 34% from 2,529 to 3,395, warrants…
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The number of home repossessions has increased to the highest level in five years, data from UK Finance shows. The analysis shows that mortgage possession claims increased by 34% year-on-year in Q2, climbing from 3,991 to 5,343. These involve a lender taking homeowners to court before repossessing their home as the owners have fallen behind…
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More than 1.3 million households in the UK are no longer paying council tax, resulting in local authorities failing to collect a record £6bn annually, according to a report by the Centre for Social Justice (CSJ) think tank. The report highlights that council tax debt has doubled in the past six years, with the debt…
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More than 2.7 million debts were referred to bailiffs by local authorities in England and Wales during the 2022/23 financial year, according to new research conducted by the Money Advice Trust, the charity that runs National Debtline, and the Centre for Social Justice think-tank. The findings, based on Freedom of Information requests to local authorities,…
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Latest data from Hargreaves Lansdown has found that middle-earning households has the worst gaps in their finances are in long-term planning aith almost two thirds score ‘poor’ or ‘very poor’ when it comes to investment (62%), and around half get the same score for pension planning (48%). The analysis showed that middle earning households make…
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More than a quarter (27%) of consumers have fallen into troubling patterns with their finances, with many having engaged in risky financial behaviour over the last year, according to new research from Moneyhub. While the UK’s inflation rate has settled back down to the Bank of England’s 2% target, with Rachel Reeves announcing in her…
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StepChange Debt Charity Scotland’s latest quarterly client data has revealed the ongoing pressure that council tax is having on households, as average council tax arrears per client in Scotland have risen by 11% year on year. The average council tax arrears amount among Scottish clients stands at £2,075 during the second quarter of 2024, up…
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New data from Pepper Advantage, has shown that the overall rate of mortgage arrears growth has dropped to only 1.1% in Quarter 2 (Q2) 2024. This marks the third consecutive quarterly decrease in the arrears growth rate across the company’s UK portfolio, which fell from 5.7% in Q4 2023 to 3.9% in Q1 2024. The…
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