Credit, Collections & Insolvency News
Latest data from UK Finance has shown that home repossessions rose sharply in Quarter 3 (Q3) 2025, but mortgage arrears fell. The analaysis showed that there were 1,390 homeowner repossessions, up 51% annually, and 900 buy-to-let repossessions, with this up 29%. Despite this, levels remain close to pre-pandemic norms and well below long-term averages, with…
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Energy regulator Ofgem is assigning a new supplier for 8,400 customers after energy provider Tomato Energy collapsed. Ofgem intervened to protect supply for all affected, confirming that energy provision and funds, including credit balances, are secured under its ‘supplier of last resort’ safety net. Tomato Energy was banned from taking on new customers in April…
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The Government’s landmark Renters’ Rights Bill has received Royal Assent, officially becoming law and paving the way for the most notable reform of the private rented sector in almost four decades. The new Renters’ Rights Act introduces a far-reaching set of changes, which include the abolition of fixed-term tenancies and Section 21 notices. Commenting on…
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More than a quarter of a million families will receive confirmation this week of their £150 discount on energy bills this winter, as part of the Government’s drive to help families tackle energy affordability. The Prime Minister took the decision last year to expand the Warm Home Discount to a further 2.7 million families, meaning six million households now receive…
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Energy UK is calling for sector regulator Ofgem to lose some of its current responsibilities to create a streamlined and more focused organisation better equipped to carry out its main duties. The Department for Energy Security and Net Zero is currently carrying out a review of Ofgem’s performance and its future role, and in a paper…
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New research by the Personal Finance Research Centre at the University of Bristol, in partnership with Ofgem and StepChange Debt Charity has highlighted the critical role that effective referrals from energy suppliers to free debt advice can play in supporting households with energy debt, and where the energy sector can do more to protect vulnerable…
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Millions of households will have to pay higher water bills than previously announced, after five water companies appealed to the Competition and Markets Authority (CMA) regarding Ofwat’s price determinations. Five companies – Anglian Water, Northumbrian Water, South East Water, Southern Water, and Wessex Water – argued that Ofwat’s decision left them unable to meet the…
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Latest data from Ofgem shows that energy suppliers are owed at least £4.43bn in energy debt. It is believed that this figure is likely to be significantly higher, as it only accounts for debt that has been outstanding for more than 91 days. The data from April to June (Quarter 2, 2025) shows that household…
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New analysis from the Joseph Rowntree Foundation (JRF) shows that the UK is on track for a decade of decline in families’ disposable incomes by the end of the parliament (September 2029). This comes after a decade of stagnant earnings growth following the financial crisis. By updating the March 2025 Office for Budget Responsibility (OBR)…
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Risks to financial resilience are among the pressing issues facing the charity sector in 2025, according to new analysis from the Charity Commission. The regulator has drawn on a range of data and intelligence available to it, including information from annual returns, serious incident reports and casework, in publishing its first ever annual Charity Sector Risk…
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New research by Citizens Advice has found that millions of loyal mobile and broadband customers are being forced to jump through hoops to avoid being ripped off on their bills – simply because mobile phone and broadband providers aren’t being upfront with better renewal deals. The research showed that instead of automatically offering existing customers their…
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Energy regulator, Ofgem has announced a new requirement for suppliers to offer at least one lower standing charge tariff to their customers. The regulator has published a consultation on requirements for suppliers to offer a lower standing charge tariffs.. Under the plans, these tariffs would be available to customers in every region of Great Britain…
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More than seven million households need to read their meter by the end of the month to make sure they avoid higher energy rates from 1st October, according to research by Uswitch. Homes on a standard tariff with average usage are expected to spend £140 on energy in October, compared with £63 in September. The…
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