Credit, Collections & Insolvency News
The annual cost of household bills has risen by £112 on average year-on-year, according to new research by Compare the Market. The research analyses the cost of energy, water, home insurance, motor insurance, and council tax. It reveals that the combined cost of these household bills has risen by 2% on average, compared to 12…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 7.9% in April 2025 to a total of 10,012 compared to March 2025’s total of 9,282, and increased by 4.4% compared to April 2024’s total of 9,586. The personal insolvencies consisted of 589 bankruptcies, 3,837 debt…
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Latest monthly statistics from the Insolvency Service show that in April 2025, personal insolvencies increased while business insolvencies declined in Northern Ireland. The data showed that there were 123 individual insolvencies in Northern Ireland. This was 10% higher than in April 2024. There were 95 IVAs, 16 bankruptcies and 12 DROs. Business insolvency data shows there were 30…
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Latest UK Finance card spending data has found that outstanding balances on credit card accounts have grown by 5.6 per cent over the twelve months to February and 48.8 per cent of outstanding balances incurred interest compared to 50 per cent in February 2024. There were 334.3 million credit card transactions in February, 1.4 per…
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UK Finance has releaseed its latest mortgage arrears and possessions data for Quarter 1 (Q1) 2025, which shows that there were 90,140 homeowner mortgages in arrears fell by two per cent in Q1 2025 compared to the previous quarter. The number of Buy-to-let (BTL) mortgages in arrears also fell, down six per cent compared…
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Latest Ministry of Justice statistics out today show a 31% increase in mortgage possession claims year on year in the first quarter of 2025. The data showed that compared to the same quarter in 2024 there were increases in mortgage possession claims from 5,182 to 6,765 (31%), orders from 3,013 to 4,624 (53%), warrants from 2,919…
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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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Latest figures from Hargreaves Lansdown has found that households have an average of £196 left at the end of the month. The data showed that among those households on the lowest fifth of incomes, this falls to £3, and for the second lowest it’s £34. Younger people have less left at the end of the…
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Landlords across England and Wales who are struggling to get their properties back because of months of delays and a ‘postcode lottery’ in the County Court system are being urged to enforce their judgments through the High Court according to the High Court Enforcement Officers Association (HCEOA). Landlords across England and Wales currently face significant…
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Nearly 40 per cent of people are at risk of being unable to cover their basic needs in retirement, up from 35 per cent in 2023, according to a report from Scottish Widows. Low-to middle-income earners and people under the age of 40 were highlighted to be at more risk. The report also highlighted housing…
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New research by Saltus has found that one in eight (12%) are financially supporting both generations, often at the expense of their own financial goals. The data found that seven in ten (73%) high net worth parents are financially supporting adult children, while more than two thirds (68%) are helping their ageing parents or grandparents…
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Gifts and loans from the Bank of Mum & Dad (BOMAD) totalled £9.6 billion in 2024, according to the latest analysis from property firm Savills. The research found that 173,500 first-time buyers received assistance last year, receiving on average £55,572. This equates to just over half (52%) of all first-time buyers, which, although lower than…
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Latest Bank of England data has shown that net borrowing of mortgage debt by individuals increased sharply by £9.7 billion to £13 billion in March, following a decrease in net borrowing of £1.0 billion to £3.3 billion in February. The annual growth rate for net mortgage lending rose from 1.9% to 2.7% in March, the…
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