Credit, Collections & Insolvency News
EY has forecast that mortgage lending will grow 3.3% before slowing to 2.2% in 2027 as economic pressures and uncertainty are reducing borrowing demand. Mortgage lending remains comparatively resilient, after interest rates and inflation fell back last year, with growth expected to rise marginally from 3.0% in 2025 to 3.3% in 2026. However, rising unemployment,…
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Around one in five remortgage borrowers were considering variable and tracker mortgages in September while first-time buyers’ interest in variable rate products collapsed, new Money Facts analysis has found. The data in September, 21% of remortgage borrowers researching mortgages on Moneyfactscompare.co.uk were considering variable or tracker mortgages, compared with 14% in July. Whilst 7% of homemovers…
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Three in five people (62%), equating to more than 34 million adults, will face a major life event or financial challenge which could seriously affect their retirement savings, according to Scottish Widows’ latest Retirement Report, focusing on the impacts of vulnerability. These experiences range from ill health, divorce and bereavement, to lower financial resilience and…
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The latest Bank of England Money & Credit statistics for August find that mortgage borrowing increased to £4.4 billion in August, from £4.1 billion in July, but remained below the previous 6-month average of £5.2 billion. Net mortgage approvals for house purchases – an indicator of future borrowing – decreased to 54,900 in August, down…
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A new report from Go.Compare Car Insurance has found that the cost of getting on the road in 2026, including the cost of a first car, has fallen slightly (1%), from £7,040 in 2025 to £6,969. In 2024, the report revealed that the cost of getting on the road had hit an all-time high of £7,100.…
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Consumer confidence unexpectedly hit a more than two-year high in September, as households grew more optimistic about their personal finances, according to the GfK’s consumer confidence barometer. Confidence in the UK has improved for the third consecutive month, reaching minus 13 in September, up one point from last month and marking its highest level since…
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One in five people (15%) have provided personal information to someone before realising they were not genuine, according to new research from Nationwide. Among them is actress and broadcaster Lisa Riley MBE, who was tricked into providing personal information through a convincing scam that appeared completely legitimate. The research also found consumers are exposed to…
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Mortgage sales to borrowers with impaired credit histories have increased to their highest levels since 2008, according to analysis of FCA data provided following a FOI request by leading independent banking and credit advisory consultancy Broadstone. Through 2025, 10,089 mortgages were sold to borrowers with impaired credit histories, representing an increase of 23% from 8,183…
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Specialist SME lender 365 Finance has announced George Visser as its new Chief Risk Officer. Visser joins the company after 11 years at Bayport Financial Services Group, in which time he rose from being a Financial Modeller to Head of Commercial Analytics and then Group Credit Executive. Visser will lead 365 Finance’s risk function, overseeing credit…
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The UK faces increasing competition for future investment and financial services activity from other global financial centres, and risks losing out unless action is taken to protect the country’s position. A new report from UK Finance and Norton Rose Fulbright draws on the work of UK Finance’s international bank membership, supported by detailed interviews with…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell by 2% in July 2026 compared with the same month in 2025, while the value of new business remained unchanged. In the first seven months of 2026, new business volumes grew by 3% compared with the…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance providers advanced £10.3 billion of new credit in July 2026, 1% lower than in the same month in 2025. In the first seven months of 2026, new business in this market was 4% higher than in the same period in 2025.…
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New research from PensionBee has found that for most adults, owning a home outright is considered more important than preserving their pension and is worth sacrificing retirement years to achieve. PensionBee’s survey of 2,000 UK adults found that 45% cite outright home ownership as the most important factor for retirement security, compared to 36% who…
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