Credit, Collections & Insolvency News
Credit card spending totalled £10.5 billion in March, 8.1 per cent higher than the same month in 2018 according to the latest UK Finance Household Finance Update. The increased lending on credit cards has been matched by growth in repayments, reflecting the growing use of cards by consumers as a preferred means of payment rather…
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Here is an overview of The Money Charity’s latest statistics for April 2019: Personal debt in the UK People in the UK owed £1.633 trillion at the end of February 2019. This is up from £1.584 trillion at the end of February 2018, an extra £942.39 per UK adult over the year. The average total debt per household,…
Read moreThe Financial Conduct Authority (FCA) has published the latest complaints figures for regulated firms for the second half of 2018. During the second half of 2018 (2018 H2), complaints decreased by 5%, falling from 4.13m to 3.91m. This is the first time the number of complaints has fallen since firms were required to change the…
Read moreThe Financial Conduct Authority (FCA) has issued a reminder to authorised firms that they need to start preparing today for the Senior Managers and Certification Regime (SM&CR) to be ready for the new regulation coming into effect on 9th December 2019. The FCA has already rolled out the SM&CR to banks and insurance firms, and…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 2% by volume and 6% by value in February 2019, compared with the same month in 2018. The percentage of private new car sales financed by FLA members through the…
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New figures released by the Finance & Leasing Association (FLA) show growth of 1% in consumer finance new business in February 2019, compared with the same month last year. Retail store and online credit grew in February by 6%, compared with the same month in 2018, while the personal loan and credit card finance sectors…
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According to new research by Equifax, consumers are most likely to vote with their feet when it comes to their electricity and gas provider (41% say they would switch), followed by their TV/internet provider (33%) and mobile phone provider (31%). The research found only 22% of people would switch their bank account, and the figure…
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New research has revealed the insurance intermediary market expects clients to make greater use of credit this year when it comes to buying their cover. The findings from Premium Credit,show that 50% of insurance brokers anticipate the amount of credit used to buy general insurance in 2019 will be higher than the amount used last…
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Here is an overview of The Money Charity’s latest statistics for March 2019: Personal debt in the UK People in the UK owed £1.629 trillion at the end of January 2019. This is up from £1.579 trillion at the end of January 2018, an extra £952.50 per UK adult over the year. The average total debt per…
Read moreThe UK’s wealthy high net-worth individuals (HNW) individuals are struggling to secure credit from high street banks, new research from Butterfield Mortgages has revealed. Butterfield Mortgages has commissioned an independent survey among more than 500 high net-worth individuals to uncover the difficulties they face when applying for credit. It found: A ninth (12%) of the HNWs…
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New research from Experian has identified 5.8 million people in the UK who are virtually invisible to the credit economy because there is little or no information available on their financial track record. In the absence of sufficient information to make a decision, these Invisibles can either be excluded from mainstream financial services or be…
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New research from comparethemarket.com has found that half of homeowners feel they have made expensive mistakes during the process of buying their first property. In a poll of over 2,000 homeowners, 15% wished they’d haggled more on the price of the house when buying their first property and 10% of respondents said they made a…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 1% by volume and 6% by value in January, compared with the same month in 2018. The POS consumer new car finance market reported new business volumes up by 4%…
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