Credit, Collections & Insolvency News
A new study by Go Compare has suggested that the announcement of the Renters’ Rights Bill may have triggered a surge in rent hikes across England, with more than half of tenants (53%) experiencing a rent increase since September last year, when the bill was first introduced to Parliament. In comparison, just 38% saw a…
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Latest Ministry of Justice figures have shown increases in mortgage possession claims from 5,348 to 6,537 (22%), orders from 3,384 to 4,429 (31%), warrants from 2,959 to 3,787 (28%) and repossessions by county court bailiffs from 869 to 1,146 (32%) when compared to the same quarter in 2024. There were increases in mortgage possession claims…
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New data from UK Finance has shown that there were 87,380 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2025, 3 per cent fewer than in the previous quarter.Within the total, there were 29,840 homeowner mortgages in the lightest arrears band (representing between 2.5…
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Nearly nine in ten landlords (87%) have reported making a profit, just one percentage point off a five-year high, according to new research undertaken for Paragon Bank. The research, found that the proportion of landlords who reported making a profit from their lettings activity increased from 84% in the first quarter of 2025 to 87%…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 16% in June 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…
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New data published by Rightmove has shown that the average advertised rent of homes outside of London has risen to another new record this quarter of £1,365 per calendar month (pcm), marking a £400 rise compared to five years ago. Rightmove’s research also notes that the yearly pace of rent growth continues to slow. This…
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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),…
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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…
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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…
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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…
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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…
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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…
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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…
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