Credit, Collections & Insolvency News
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…
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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…
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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…
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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…
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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…
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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…
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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…
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Around one in seven consumer insurance customers surveyed either decided against buying insurance or cancelled certain types of cover in the past year, new research from Premium Credit. The research found that 15% of consumers in the past year have cancelled or decided against cover, up from 11% in last year’s Insurance Index. Despite cancelling…
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The Government has announced that it will modernise the Consumer Credit Act (CCA) for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate. The Government says that consumers who take out loans, credit cards or overdrafts are expected to benefit from clearer information about costs and key…
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Afin Bank has announced that it has appointed Beth Jeffs as Head of Product and Proposition. Jeffs joins from the Nottingham Building Society, where she was Senior Mortgage Propositions Manager. She has previously held roles at providers including HSBC, Coventry Building Society and Sainsbury’s Bank in product and credit risk areas. She will oversee the…
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New data from Twenty7tec’s April 2026 Mortgage Market Snapshot (MMS) has revealed a significant slowdown in mortgage search activity following the heightened levels seen earlier this year, underscoring the market’s continued sensitivity to broader economic pressures and borrower affordability concerns. Total mortgage searches fell by 20% month-on-month in April, dropping from 2.15 million in March…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 8% in March 2026 compared with the same month in 2025. The corresponding value of new business was 11% higher over the same period. In Q1 2026, new business volumes grew by 4% compared Q1…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 9% in March 2026 compared with the same month in 2025. In Q1 2026, new business in this market was 6% higher than in Q1 2025. The credit card and personal loans sectors together reported new business…
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