Credit, Collections & Insolvency News
New analysis by Sprive, suggests a perfect storm is brewing as millions face retiring with mortgage debt hit by late homebuying, sky-high prices, and AI disrupting income security Analysis of official Government housing data* reveals that as buyers are being forced to take on longer mortgage terms later in life, they are increasingly likely to carry…
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New research Deloitte by has found that early half (49%) of Gen Zs and 43% of Millennials in the UK say they feel stressed or anxious all or most of the time, up slightly from last year’s figures of 47% and 41% respectively. Of those who feel this way, 41% of UK Gen Zs and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer second charge mortgage new business volumes grew by 18% in March 2025. 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),…
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New research conducted on behalf of The Estate Registry found that out of 2,000 UK consumers questioned, 39% don’t understand what happens if/when they inherit something, rising to 57% for those under the age of 35. The data also showed that 42% of UK adults believe they have nothing to inherit, so any planned future…
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New research by Lowell and Opinium has found that household finances are now in a worst state since pandemic. The research shows after years of high inflation, traditionally affluent areas populated by middle-income families have seen the biggest erosion of their financial security. The data shows that six in ten households lack sufficient savings…
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The average household spends £216 on monthly debt repayments, excluding the mortgage, according to research by Hargreaves Lansdown. Among the top 5% of earners, this rises to £384 and £1,065. The data also showed that those with mortgages spend an average of £748 on top of this. Almost one in ten households (8%) are in…
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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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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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New figures released by the Finance & Leasing Association (FLA) show that econd charge mortgage new business volumes grew by 16% in December 2024. 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…
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Latest data from UK Finance has shown that there were 381.4 million credit card transactions in November, 1 per cent more than in November 2023. The total spend of £20.8 billion was 0.2 per cent higher than November 2023. Outstanding balances on credit card accounts have grown by 5.2 per cent over the twelve months…
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Q4 mortgage data from Pepper Money has revealed that residential arrears increased as borrowing costs rise unexpectedly. The data found that the rate of arrears for residential mortgages grew by 2.4% on Q3, following two consecutive quarters of decline. The arrears rate for fixed rate mortgages grew 8.4%, marking the highest growth rate since Q1…
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Latest Bank of England’s Money and Credit data has found that net borrowing of mortgage debt by individuals increased by £1 billion to £3.6 billion in December, bouncing back from a decrease in net borrowing of £0.9 billion in November. The annual growth rate for net mortgage lending rose to 1.5%, from 1.3% in November,…
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The average annual water bill in England and Wales will rise by 26% or £123 in the next financial year according figures analysed by Water UK. Water companies have committed extra money for investment in infrastructure, such as reservoirs, and more help for struggling customers. To fund these new levels of affordability support and investment,…
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