Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has opened an enforcement investigation into Consultation Claims Limited (CCL) following concerns about its conduct in the period April 2025 to December 2025 in relation to motor finance claims. The FCA is investigating concerns that consumers may have been signed up between April 2025 and December 2025 without their consent,…
Read more
A new report from Pensions UK has warned that most workers are not saving enough for even a ‘moderate’ lifestyle during retirement. The Retirement Living Standards report argues that rising bills have pushed a moderate retirement, priced at £32,700 a year for one person or £45,400 for a couple, further out of reach, with only…
Read more
Latest Bank of England data has shown that mortgage approvals reached a 15-month high of 65,900 in April, a 3% increase from March. Net borrowing of mortgage debt by individuals fell to £4.4 billion in April, from £6.8 billion in March, below the previous 6-month average of £5.1 billion. Approvals for remortgaging were broadly unchanged…
Read more
Boss of firm which sparked almost 38,000 complaints over high-interest loan spam texts banned as company director until 2032. Leanne Richardson was the director of ESL Consultancy Services Ltd, which generated almost 38,000 spam text complaints. ESL Consultancy Services Ltd was fined £200,000 by the Information Commissioner’s Office (ICO) but went into liquidation without paying…
Read more
Average mainstream house prices are expected to fall by 2% in 2026, as higher mortgage rates reduce demand, according to property firm Savills’ revised mainstream housing forecast. The report, however, states that there remains good capacity for house price growth in the medium term, as economic prospects are expected to improve and the market becomes…
Read more
Just Mortgages, together with Spicerhaart, the UK’s largest independent estate agency and property service group, has announced the appointment of Olivia Moss as its first ever Marketing and Communications Director. The newly created role marks a strategic step forward in the group’s continued journey of growth, innovation and digital transformation across financial services, estate agency…
Read more
Latest data from UK Finance shows that there were 36,050 new loans advanced to older borrowers in Q1, down 4.8 per cent year on year. The value of this lending was £6 billion, up 0.3 per cent from the same quarter a year earlier. There were 5,300 new lifetime mortgages advanced in Q1, down 8…
Read more
Buying a first home is one of life’s biggest milestones, but for many, the process comes with confusion and uncertainty. L&G’s survey of 2,000 UK homeowners found that both moving house (48%) and buying a home (35%) are considered more stressful than a divorce or romantic breakup (33%). Even with careful planning, the costs of…
Read more
One in five (20%) UK consumers say bank branch closures are making it harder to access the financial services they need according to research from CRIF. The findings come as the government launches an independent Access to Banking Review to examine the real-world impact of branch closures and consider whether further intervention is needed to…
Read more
Afin Bank has announced that Rob Lankey has been promoted to Chief Commercial Officer. Lankey initially joined Afin as Director of Credit during its launch phase last year. He then took on the role of National Sales Director at the start of this year, taking on responsibility for the sales team as it expanded with…
Read more
Refund fraud could be costing UK online retailers up to £5.76 billion a year, according to new research from the University of Portsmouth, funded by fraud prevention service, Cifas. The research found fraudsters have been using these channels to openly share techniques, target retailers, and sell fraudulent refunds as a paid service. Some ‘refund‑as‑a‑service’ vendors…
Read more
The winners of the 2026 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 21st May) at Eastwood Hall, Nottingham. There were 19 winners (three of which were partnership wins) from the awards categories, which were presented by awards compere Eshaan Akbar. The Credit & Collections Industry Awards were…
Read more
Consumer confidence increased this month, defying expectations, with the GfK index rising to minus 23, despite economic concerns affecting lower-income households’ purchasing intentions. Four measures were up and one was down, compared to last month’s announcement. Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said “Consumers appear to be in a more generous mood…
Read more