Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017. Credit card and personal loan new business together grew by 1% compared with November 2017, while retail store and online credit new business increased by 2%. Second…
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A new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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Data from the latest report from the Bank of England data shows that the annual growth rate of consumer credit slowed in November 2018, but credit card lending was still 7.9% higher than a year earlier, with other consumer credit lending up by 6.6%. Commenting on the latest figures, StepChange Debt Charity CEO Phil Andrew…
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UK Finance has published its latest Household Finance Update for November 2018 which has revealed that £11.3bn of credit card spending in November was 7.5 per cent higher than November 2017. Over the past twelve months, the outstanding level of credit card borrowing grew by 5.3 per cent. Personal borrowing through loans and overdrafts grew…
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Here is an overview of The Money Charity’s latest statistics for December 2018: Personal debt in the UK People in the UK owed £1.613 trillion at the end of October 2018. This is up from £1.564 trillion at the end of October 2017, an extra £928.44 per UK adult and £142.69 higher than the previous month. The average…
Read moreNew figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in October, compared with the same month last year. Credit card and personal loan new business together grew by 10% compared with October 2017, while retail store and online credit new business increased by 15%. Second…
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UK Finance has published its latest Mortgage Trends Update for October 2018 which reveals that remortgaging is at its highest level since 2008. The figures show that there were 50,500 new homeowner remortgages completed in the month, some 23.2 per cent more than in the same month a year earlier. The £9.2bn of remortgaging in…
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The Bank of England has published its latest mortgage lenders and administrators return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators. The figures show that the value of outstanding mortgage balances with some arrears increased for the first time since 2016…
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The Bank of England has released its latest Money & Credit data indiating that consumer credit increased by £0.9 billion in October, similar to the previous few months, but below much of the period since 2016. Mortgage market activity remained broadly stable in October. The flow of mortgage lending increased to £4.1 billion in October…
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UK Finance has released its latest household finance update for October 2018 which has revealed that £11.3 billion of credit card spending in October was 12.1 percent higher than last October. Over the past twelve months, the outstanding level of credit card borrowing grew by 5.7 percent. Whilst personal borrowing through loans and overdrafts grew by…
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Here is an overview of The Money Charity’s latest statistics for November 2018: Personal debt in the UK People in the UK owed £1.605 trillion at the end of September 2018. This is up from £1.560 trillion at the end of September 2017, an extra £870.78 per UK adult and £76.54 higher than the previous month. The average total…
Read moreNew research by Experian has revealed that there are 5.8 million people in the UK who are virtually invisible to the financial system, because there is insufficient information available about their financial track record. The campaign which is fronted by British food writer, Jack Monroe aims to raise awareness and educate consumers of the importance…
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One in five (21%) medium-sized businesses in the UK believe that automation will help them compete with larger rivals, according to research from international payments, treasury management and foreign exchange specialist Centtrip. Seen as both a threat and opportunity, automation – the execution of a task or process without human assistance – is having a…
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