Credit, Collections & Insolvency News
The number of evictions by landlords in England and Wales hit 1,516 in June in the first month since the ban on evictions ended on 31st May according to the latest Ministry of Justice (MOJ) figures. Possession claims rose from 3,023 to 7,000, orders from 656 to 5431, warrants from 274 to 3,709. However, the…
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The stamp duty holiday helped drive higher engagement with credit scores, according to Experian. Mortgage applications were 31% higher during the stamp duty holiday than the equivalent period between 2019 and 2020 and those consumers who took out a new mortgage were more likely to check their credit score. Credit score engagement peaked in July…
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Furlough and forbearance measures helped the UK avoid the spike in loan defaults that were expected at the start of the pandemic, but as they are phased out this year, a recent surge in payment holidays for unsecured loans suggests one in ten borrowers are still concerned about maintaining repayments according to new analysis by…
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The average number of tenants in rent arrears is at its lowest level for ten years research by Paragon Bank has found. The Bank has highlighted that in Q2 2021 each landlord surveyed had an average of 1.3 tenants with outstanding rent payments. This is the lowest number since Q1 2011 when research agency BVA…
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New research by LifeSearch has found that 7% of Brits have overpaid on their mortgage over the past six months with on average, those who have overpaid their mortgages have done so at an average rate of £319 per month, which across the UK as a whole, is £1.5 billion a month or £7 billion…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 195% in June 2021. 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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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 28% in June 2021 compared with the same month in 2020. In the first half of 2021, new business was 18% higher than in the same period in 2020. The retail store and online credit sector reported…
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The number of borrowers releasing equity from their homes has neared pre-pandemic levels in the second quarter of this year, according to the latest figures from the Equity Release Council (ERC). There were 20,352 new and returning customers in the market between April and June, a rise from 16,527 in Q1 2021 and 13,617 in…
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Latest Bank of England (BOE) data has shown that mortgage borrowing hit a record monthly high in June, climbing to £17.9 billlon. This marks a 163% jump on the £6.8bn recorded in May. The increase came as buyers looked to complete deals before the stamp duty holiday started to taper. While the threshold at which…
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Here is an overview of The Money Charity’s latest statistics for July 2021 Personal debt in the UK People in the UK owed £1,721.3 billion at the end of May 2021. The average total debt per household, including mortgages, was £61,933 and per adult was £32,544, around 108.7% of average earnings. Net mortgage lending rose by…
Read moreNew research from Experian found that nearly two fifths (38%) of consumers said they were considering buying a new home within the next five years, rising to 66% of people in their 30s and 67% of those in their 20s. People also suggested they are prepared to stretch themselves to secure their dream home, with…
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New research has found that 840,000 private renters have built up arrears as a result of the Covid pandemic meaning 56% of landlords have lost rental income. The research by Homeppl also found that there was also 71% rise in fraudulent applications, one in 50 are now fraudulent and that fraudulent tenants now costing landlords…
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New research from Aldermore bank has revealed that self-employed workers in the UK are pessimistic about their home buying chances, as the pandemic has exacerbated difficulties felt by this group in getting a foot on the housing ladder. The challenges self employed renters are facing in buying their first home has become more pressing as the pandemic experience has energised…
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