Credit, Collections & Insolvency News
The latest EY ITEM Club data has forecasted that consumer credit lending growth will remain largely flat at 5.8% in 2026 (from 6.1% in 2025), 5.7% in 2027, and 5.3% in 2028. Even though consumer credit remains expensive, demand is expected to remain steady over the coming years. This is largely due to a combination…
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72% of consumers abandon their baskets after being declined for credit at checkout, despite over half saying they would look for an alternative finance option. The results, from independent research commissioned by Payl8r, with the figures suggesting that single-lender checkout structures may be contributing to avoidable conversion loss. Payl8r says that the research reveals ‘false…
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The Bank of England has announced that it has held interest rates at 3.75% following the first meeting of its Monetary Policy Committee of 2026. The Bank has voted by 5 to 4 to keep rates on hold at 3.75%. Four members voted to reduce the base rate to 3.5%, giving an indication of forward guidance. Commenting…
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Analysis of credit card data for November 2025 by global analytics software leader FICO has found that spending, balances and payments followed seasonal trends in the run-up to Christmas. However, while spending rose as expected during November, it was lower year-on-year, signalling continued pressure on household finances. Average balances resumed an upward trajectory as payment…
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Latest data from the Bank of England data has shown that net mortgage approvals for house purchase fell by 3,100 to 61,000 in December 2025. By contrast, approvals for remortgaging rose by 1,600 to 38,400 in December. Net borrowing of mortgage debt by individuals remained unchanged when compared to November at £4.6 billion in December. The…
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Research by Pepper Money has found that more than 16 million people have now experienced adverse credit, showing that rising living costs and financial pressures are driving a sharp increase in credit struggles across the UK, the highest figure since the study began nine years ago. The data showed that adverse credit is now increasingly common…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in November 2025 by 3% compared with the same month in 2024. In the eleven months to November 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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New data from Premium Credit has shown that 44% of insurance customers are using credit or are reliant on finance from insurers and premium finance companies. The research showed that nearly six out of ten (57%) consumers use some form of credit to pay for one or more policies they have.. Whilst 44 per cent of…
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Latest credit card analysis by Fico has revealed that pre-Christmas spending and average active balances fell, whilst average balances for missed accounts remain high, reflecting continued financial pressure. The October 2025 data showed a decline in credit card spending compared with the previous month and the previous year. Lower spending led to average balances falling…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in October 2025 by 6% compared with the same month in 2024. In the ten months to October 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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Latest data from Barclays shows that consumer card spending declined -1.1 per cent year-on-year in November – the greatest fall recorded since February 2021 (-9.5 per cent), and considerably lower than the latest CPIH inflation rate of 3.8 per cent. Amid ongoing consumer uncertainty, essential spend dropped -2.9 per cent, marking seven consecutive months of…
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Research by Synectics Solutions has revealed that 23% of individuals who commit credit card-related fraud go on to offend again, the highest repeat-offending rate of any major financial product. This figure has grown from 17% to 23% in just five years, representing a 35% increase. Repeat offenders are also spreading their activity across multiple organisations,…
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Latest Bank of England data has shown that mortgage debt fell back to £4.3 billion in October, after a rise to £5.2 billion in September.. The data shows that gross lending slightly decreased in October, to £24.5bn from £24.8bn, with gross repayments increasing by £1.5 billion to £22.1 billion in October. Net mortgage approvals for…
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