Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that second-charge mortgage new business volumes grew by 9% in February 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), said “The second charge…
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Birmingham’s residents are set to be hit hardest by rising council tax rates for 2025/26, new research by Go.Compare Home Insurance has found. Households across the city will pay an extra £43.1 million this tax year – the largest overall increase of any local authority in England.[ The country can expect a total council tax…
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A consumer confidence survey by Deloitte has shown that consumer confidence remained flat in the first quarter (Q1) of 2025. The data showed a marginal 0.3 percentage point increase, this marks a second consecutive quarter of stalled confidence following a two-year period of improvement. A seasonal boost in sentiment towards general health and wellbeing (+3.8…
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The Financial Conduct Authority (FCA) has highlighted that banks and building societies can improve how they treat customers affected by bereavement or registering a power of attorney. Since the introduction of the Consumer Duty, some firms are making a real difference with clear policies and procedures and actively using data to better identify needs and…
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After a tough Budget and Spring Statement for low-to-middle income households, the Government’s Spending Review could brighten a bleak living standards outlook by prioritising spending on services they use the most, according to new research by the Resolution Foundation. The research notes that public services are crucial for quality of life, providing ‘in-kind’ benefits worth…
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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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The UK’s ongoing cost-of-living crisis remains significant, with new figures revealing a sharp rise in housing costs and debt levels, according to research by Money Wellness. The data, which tracks household finances from the fiscal year 2023/24 to the first quarter of 2024/25 (prior to April’s price increases), shows that ,ortgage payments have surged by…
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As the new tax year begins in April, the outlook for living standards is historically bleak as British households face a triple-hit from higher taxes, utility bill increases, and benefits that aren’t keeping pace with the cost of living – leaving the typical working-age household £400 worse off this financial year, according to new analysis…
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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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Council tax bills in England have risen by almost £7.3 billion over the past four years, according to new research into the increase in tax rates by Go.Compare. Birmingham has seen the largest jump in costs across all eligible properties, totalling an extra £136.8 million during this period. Croydon has experienced the highest increase per property…
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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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