Credit, Collections & Insolvency News
A third of self-employed homeowners have increased their unsecured debts and a quarter have deferred mortgage payments to prop up their finances during the Covid-19 pandemic according to research by The Mortgage Lender. The survey, which was carried out in March this year among 1,000 self-employed homeowners, or those who want to own their own…
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New analysis of credit card spending by FICO has indicated that spending has risen 3.5% when compared to June 2019 levels. The company says that the analysis of June 2021’s figures, maintains the pattern for the year so far, average spend continued to increase compared to 2020. As the UK was only just coming out…
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Over two in five vulnerable customers feel that they have been unfairly treated by organisations in the last 12 months according to new research Vulnerability Registration Service (VRS), The findings in the research suggest that 17.7 million consumers consider themselves vulnerable with 34% of the UK population, with 13.1 million (25%) people saying they have…
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New research from Yolt, has revealed that over one in six (16%) UK adults never review some of their key household expenses. The research indicates that the 8.6 million in the UK who are ‘bill blind’ could be missing out on the most competitive deals available. This follows Ofgem’s recent announcement that the energy price cap…
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The ONS has released new statistics charting 50 years of housing change patterns between 1961 and 2011. The report showed that in 1961, only 42% of households owned their own home, and in several parts of London fewer than 10% did. By 2011, 64% of people owned their own home, and the area with the…
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Latest figures from the Insolvency Service have indicated that personal insolvency numbers across England & Wales decreased by 4.3% compared to Q1 2021’s figures. There were 27,622 seasonally adjusted individual insolvencies in Q2 2021, a fall of 4.3% compared to Q1 2021’s figures of 28,895 and a fall of 13.9% compared to Q2 2021 (32,134).…
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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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The number of County Court Judgments (CCJs) issued against consumers in England and Wales saw a huge rise in Q2 2021 compared to the same period last year, according to figures released by Registry Trust. The number registered in Q2 2021 was 188,092, up 267 per cent from 51,245 in Q2 2020. The value of…
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The number of decrees and total amount of debt registered against Scottish consumers saw large rises in the second quarter of 2021 (Q1 2021) compared to the same period last year, according to figures released by Registry Trust. The number rose from 1,419 to 3,991 in Q2 2021, a rise of 181 percent from Q2…
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The number of debt judgments registered against Northern Ireland consumers in the first half of 2021 (H1 2021) was 1,678, a fall of nearly 12 per cent from the 1,900 in the same period last year, according to figures released by Registry Trust. But, the total value of judgment debt owed by consumers rose by…
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The number and total value of judgments registered against Irish consumers saw very large percentage rises in the second quarter of 2021 (Q2 2021) compared to the same quarter last year, figures released by registrar Irish Judgments show. The number of judgments registered against Irish consumers in Q2 2021 was 307, an increase of 358…
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The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland rose by 12.3% to 1,884 in April-June 2021compared with January-March 2021’s figures of 1,677, and was 9.6% lower than in April-June 2020 according to latest Accountant in Bankruptcy (AiB) figures. A total of 586 bankruptcies were awarded during this quarter – a 61.4%…
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