Fintech Ceverine, which offers AI-driven digital collection services, and debt collection specialist Capital Resolve have announced an agreement to merge businesses. In a joint statement, the company said that the strategic combination brings together complementary strengths of both companies. Ceverine’s expertise in machine-learning, automation and digital collections with Capital Resolve’s established history, credentials and proven…
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One in four people in the UK (27%) are currently behind on at least one bill with Citizens Advice warning the situation only looks set to deteriorate in the coming months. The research estimates household debt, covering things like essential bills and benefit repayments sits at £22 billion. But the charity warns the true figure…
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Close to half (45%) of adults are concerned about the financial decision-making of their more vulnerable relatives as they get older, with one in ten (10%) saying their relatives have made poor financial decisions in the past two years resulting in some form of financial loss, according to data from a recent report by AKG,…
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The Money and Mental Health Policy Institute has awarded HSBC UK its ‘Mental Health Accessible’ accreditation for taking steps to improve support for vulnerable customers Research from the Money and Mental Health Policy Institute shows that people with mental health problems encounter a range of difficulties when accessing and using banking services and other essential services.…
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Resarch from lender Creditspring has found that 30% of people say their mental health has deteriorated since the start of the cost-of-living crisis, with the rate rising to almost half (48%) among 25 to 34-year-olds. The research shows that financial woes are directly contributing to this widespread decline in mental health, with a quarter (23%)…
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Latest figures from the Finance & Leasing Association (FLA) show that second charge mortgage lending fell by 14% in July. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “The second charge mortgage…
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The data suggests that the Midlands is the region of the UK hit hardest by the rising cost-of-living according to research by Lowell. Lowell’s latest Financial Vulnerability Index shows 41% of all areas that became financially worse off this year are in the Midlands region, with areas in Birmingham, Leicester and Coventry became financially worse…
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Worries about housing costs have hit the highest levels ever recorded by Which?’s Consumer Insight Tracker, as interest rates are widely expected to rise further. The Insight Tracker recorded highest levels of concern around housing costs – with four in five mortgage owners (79%) and 4 in 5 renters (81%) saying that they were worried…
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As interest rates rise, mortgages in London postcodes are at the highest risk of default, according to a new analysis by Mazars. The analysis found that 19 out of the top 20 postcodes with the most risky mortgages, defined as loans at least 4.5 times the borrower’s earnings, were in London. South West London dominated…
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Ovo Energy is calling on the government to remove standing charges for the most vulnerable customers this winter and has confirmed it will be retaining the current standing charge level after the 1st October as the price cap comes into effect. The company has also renewed its calls on the government to introduce a social…
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The Resolution Foundation says inflation could fall to 3% by the next election, and interest rate hikes are likely to dry up. However, taxes will rise, cost of living payments will end, and rents and mortgages will be higher, so we’ll be no better off than we are now – and much worse than when…
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Research released by Topcashback which examines how adults spend money has revealed more than five million adults (10%) are spending beyond their means for at least half of the year (seven months or more). The ‘How Britain Spends’ report, the first in a new series developed by leading cashback site TopCashback, highlights the impact the…
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New research by Save the Student has found that the average student’s monthly living costs have risen by 17% since 2022, from £924 to £1,078. Below-inflation increases in the Maintenance Loan now mean it falls short of living costs by an average of £582 per month, up from £439 per month in 2022 with 18% of students…
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