Credit, Collections & Insolvency News
Latest data from UK Finance has shown that the overall proportion of mortgages in arrears remains low, at 0.91 per cent of homeowner mortgages and 0.47 per cent of BTL mortgages. In the first quarter of 2026, there were 79,110 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance. This…
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Households reduced spending in April, marking the first annual decline in card spending since late 2024. Barclays reported a 0.1% fall overall, with travel spending dropping 5.7% as consumers became increasingly cautious. Fuel spending rose sharply due to higher oil prices and concerns linked to Middle East tensions. The data showed that consumer card spending…
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Financial guidance shared by ‘finfluencers’ on popular social media platforms is generally low quality, despite being widely used by UK adults, according to new research released by Queen Mary University of London, supported by Aberdeen Group Charitable Trust. The research analysed nearly 2,500 finfluencers on Instagram, TikTok and YouTube, alongside a survey of more than…
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Latest figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 20% in March 2026. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said “The…
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New research by MoneySuperMarket shows that raising a child in the UK costs anywhere between £143,412 and £500,982, depending on the childcare and schooling choices families make. By combining the latest Office for National Statistics (ONS) data with a new survey of UK parents, MoneySuperMarket’s analysis shows how underestimated the financial commitment of parenthood really is. Even when families can opt out of pre-school nursery…
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More than half (58%) of adults who are single or live alone say they could not cope with an unexpected bill of £850 according to new research by Aviva According to the research, people who live alone spend on average a little over £630 a month on essential costs, such as food/ groceries, transport, council…
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The British Retail Consortium (BRC) is calling on the government to act on soaring domestic policy costs, as new polling shows four in five people (80%) fear the Middle East conflict will push up food prices. Retailers are already absorbing significant additional costs from the conflict. Rising gas and electricity prices are pushing up production,…
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New research by Compare the Market reveals the true scale of unexpected bills across the UK, showing that “surprise” expenses are actually a highly common and costly part of everyday life. With almost seven in ten (69%) people caught off guard by significant surprise expenses, the data highlights how regularly these costs occur and the…
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Three million households are being forced to skip meals and cut family visits, according to new research from Which? Which?’s latest Consumer Insight Tracker shows that households across the country are having to take more and more drastic measures to mitigate rising costs. In the month to 10th April, analysis found consumer confidence fell to…
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New research by Age UK has found that 3.4 million (28%) pensioners, more than one in four, are struggling financially, and nearly half of them have been struggling for three years or more. Notably, a fifth (22%) of those struggling, equivalent to 740,000 aged 66+ said they have been struggling financially for more than five…
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A new study released by Money Advice Liaison Group (MALG) and AI firm Wyser has outlined how generative AI could reshape the UK’s regulated debt advice landscape, if deployed with precision, humility and human oversight. The new research funded by the Money & Pensions Service (MaPS) highlighted the deep structural complexities, widespread vulnerability and a…
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A survey of 2,000 UK consumers found a clear generational divide in financial literacy, with 18-24-year-olds consistently less confident and less informed than older age groups on how credit works according to research by Creditspring. Just 45% of young adults said they understand what ‘APR’ means, compared with 67% of over-55s. Fewer than half (46%)…
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New research from debt management firm Lowell has revealed that on average, it takes families until mid-April (3.8 months) to clear their festive debt. The survey found that 74% of UK families relied on credit cards and Buy-Now-Pay-Later schemes to help cover the cost of Christmas. While some families have the luxury of being able…
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