Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes grew by 11% in May 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),…
Read more
A record 128,000 households are living in temporary accommodation in England, an increase of 160 per cent since 2010, as support for lower-income families through social housing and the benefit system continues to decline, according to new Resolution Foundation research. With the creation of affordable homes being one of the Government’s central milestones, the Foundation’s…
Read more
Latest data from the Bank of England has found that mortgage debt increased by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to £0.8 billion in April. The number of mortgages approved for home purchases in the UK rose to 63,000 in May, an increase of…
Read more
Latest data from UK Finance has found that the total interest-only mortgage stock (including part and part) fell by 17 per cent in 2024 and has reduced by 78 per cent in number and 61 per cent in value since 2012 (when this data was first collected) There were 541,000 pure interest-only homeowner mortgages outstanding…
Read more
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 2% in April 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…
Read more
Latest data from the Bank of England has shown that the number of new mortgages competed by lenders jumped 50.4% to £77.6 billion in the first three months of the year compared to 12 months ago, hitting the highest quarterly level for more than two years. The data shows that the outstanding value of all…
Read more
Latest data from the Bank of England has found that net borrowing of mortgage debt by individuals decreased sharply by £13.7 billion to -£0.8 billion in April. This followed an increase in net borrowing by £9.6 billion in March. Net mortgage approvals for house purchases decreased for the fourth consecutive month, with a fall of…
Read more
The winners of the 2025 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 22nd May) at the Milner Hotel in York There were eighteen winners (four of which were partnership wins) from the twenty awards categories, which were presented by awards compare’ Brennan Reece. The Credit & Collections…
Read more
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…
Read more
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…
Read more
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…
Read more
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),…
Read more
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…
Read more