Credit, Collections & Insolvency News
The AI Accelerator, delivered by The University of Edinburgh’s world- leading Innovation Hub for Data Science and Artificial Intelligence, the Bayes Centre, has selected a group of emerging companies from Scotland, the UK and other parts of the globe for this year’s programme. Among the 12 winners is Inicio AI, an AI start-up founded as…
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One in three mortgage customers say that rising interest rates mean they cannot afford their repayments, new research commissioned by Butterfield Mortgages has found. The independent survey of 2,000 UK adults found that a third (33%) of mortgage holders believe the interest rate hikes over the past year have made their mortgage repayments unaffordable. Among…
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One-fifth of UK adults are already behind on one or more household bill, and one in nine have gone without food as a result of rising costs, according to new research from the Money Advice Trust. While the government’s Energy Price Guarantee removes the risk of energy bills climbing even further, the charity, which runs…
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Computershare Loan Services and The Deposit Protection Service (The DPS) have awarded £40,000 to national youth homelessness charity Depaul UK for the second year running. The organisations said the donation would help the charity continue to tackle the root causes of homelessness and improve financial wellbeing among young people aged 16-25. Nicola Harwood, Director of…
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Record high inflation combined with low wages is hitting Britain’s 4.8m low paid workers harder than anything they have faced before, including the Covid-19 pandemic, new research by the Living Wage Foundation has revealed. Polling of over 2,000 workers earning less than the real Living Wage, by the Living Wage Foundation and Survation, found 78% of…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies increased by 4.1% to 9,572 in August 2022 compared to 9,198 in July, and were 5% higher than August 2021’s figure of 9,117. Personal insolvencies also increased 7.4% from August 2019’s total of 8,910. The figurse showed that there…
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Record high inflation combined with low wages is hitting Britain’s 4.8m low paid workers harder than anything they have faced before, including the Covid-19 pandemic according to new research by the Living Wage Foundation. Polling of over 2,000 workers earning less than the real Living Wage, by the Living Wage Foundation and Survation, found 78%…
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The Consumer Confidence Index from YouGov and the Centre for Economics and Business Research has found that confidence among UK consumers has fallen into negative territory for the first time since June 2020. The index fell by 4.2 points in August from 103.0 to 98.8, the largest decline since the early stages of the pandemic.…
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Latest Bank of England figures have shown that the total value of all outstanding residential mortgage loans was at £1,648 billion at the end of 2022 Q2, 3.8% higher than a year earlier when the outstanding value came to £1.590 billion. The value of gross mortgage advances in 2022 Q2 was £77.9 billion, which was…
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Economists believe the energy price cap announced by new Prime Minister Liz Truss as part of a rescue package significantly cuts the chances of Britain going into recession according to EY Item Club analysis. The EY ITEM Club now expects CPI inflation to peak below 11% in October, rather than the 15% peak which might…
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The decision by Liz Truss’s government to support energy spending could make blackouts more likely, according to analysis by the Resolution Foundation The Foundation says Liz Truss’s first major act as Prime Minister has been to set out an energy support package to hugely reduce the scale of the living standards catastrophe this winter by covering…
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New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes grew by 29% in July. 2022. 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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The energy price freeze still leaves low-income families facing a vast gap compared to last year as rising costs outstrip government support, new research by the Joseph Rowntree Foundation (JRF) has found. JRF estimates today’s announcement – that energy prices will be capped at £2,500 including the £400 energy bill rebate – is worth on…
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