Credit, Collections & Insolvency News
Latest data from UK Finance has shown that the overall proportion of mortgages in arrears remains low, at 0.91 per cent of homeowner mortgages and 0.47 per cent of BTL mortgages. In the first quarter of 2026, there were 79,110 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance. This…
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Energy regulator Ofgem has announced it closed its investigation into British Gas on its treatment of customers who had a prepayment meter (PPM) installed without their permission, with consumers set to benefit from the settlement agreement made with the regulator. Ofgem’s investigation concluded that British Gas failed to meet the standards required of an energy…
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Water companies are failing to win back customers’ trust amid deepening concerns over the fairness and affordability of water bills, a new report has revealed. Trust in water companies across England and Wales has reached a new low, according to the Consumer Council for Water’s (CCW) annual Water Matters report, which has been tracking household…
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Households reduced spending in April, marking the first annual decline in card spending since late 2024. Barclays reported a 0.1% fall overall, with travel spending dropping 5.7% as consumers became increasingly cautious. Fuel spending rose sharply due to higher oil prices and concerns linked to Middle East tensions. The data showed that consumer card spending…
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Financial guidance shared by ‘finfluencers’ on popular social media platforms is generally low quality, despite being widely used by UK adults, according to new research released by Queen Mary University of London, supported by Aberdeen Group Charitable Trust. The research analysed nearly 2,500 finfluencers on Instagram, TikTok and YouTube, alongside a survey of more than…
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Latest figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 20% in March 2026. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said “The…
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New research by MoneySuperMarket shows that raising a child in the UK costs anywhere between £143,412 and £500,982, depending on the childcare and schooling choices families make. By combining the latest Office for National Statistics (ONS) data with a new survey of UK parents, MoneySuperMarket’s analysis shows how underestimated the financial commitment of parenthood really is. Even when families can opt out of pre-school nursery…
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The new president of the principal trade association for civil enforcement agencies in England and Wales has pledged to drive reform, strengthen standards and improve public understanding of the profession. Amy Collins, Managing Director of Leicestershire-based enforcement agency Rundles, has taken on the role of Chair of the Civil Enforcement Association (CIVEA) at a pivotal…
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More than half (58%) of adults who are single or live alone say they could not cope with an unexpected bill of £850 according to new research by Aviva According to the research, people who live alone spend on average a little over £630 a month on essential costs, such as food/ groceries, transport, council…
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The British Retail Consortium (BRC) is calling on the government to act on soaring domestic policy costs, as new polling shows four in five people (80%) fear the Middle East conflict will push up food prices. Retailers are already absorbing significant additional costs from the conflict. Rising gas and electricity prices are pushing up production,…
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Barclays has announced an additional investment of almost £4 million in debt charity, StepChange. The announcement builds on its longstanding partnership with and regular financial contributions to StepChange, and backs the most significant digital transformation in the charity’s history by helping more people across the UK access free, impartial debt advice sooner. With nearly one in four adults…
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New research by Compare the Market reveals the true scale of unexpected bills across the UK, showing that “surprise” expenses are actually a highly common and costly part of everyday life. With almost seven in ten (69%) people caught off guard by significant surprise expenses, the data highlights how regularly these costs occur and the…
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Three million households are being forced to skip meals and cut family visits, according to new research from Which? Which?’s latest Consumer Insight Tracker shows that households across the country are having to take more and more drastic measures to mitigate rising costs. In the month to 10th April, analysis found consumer confidence fell to…
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