Credit, Collections & Insolvency News
Latest Bank of England figures show that the annual growth of consumer credit (which includes credit cards, personal loans and overdrafts) was up 10.3% in April, up from the 10.2% recorded in March, but lower than February’s 10.5% rise. There were 64,645 home loans approved in April, the lowest number since September last year. The…
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The Central Bank of Ireland has released Ireland’s Money and Banking Statistics for April 2017. Drawdowns of consumer loans exceeded repayments by €158 million in April, the largest monthly increase since January 2011. The new lending largely comprises medium term loans, which typically include car loans, furniture and holiday loans. Here is an overview of the latest…
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Rapid growth in the use of contactless cards means cash will be overtaken as Britain’s most frequently used payment method by the end of 2018, according to a new report published by Payments UK, the trade association for the payments industry. This latest forecast still does not herald the demise of cash – even in…
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The British Bankers Association (BBA) latest high street banking data shows that consumer credit growth was 6.4% in April, compared with 6.1% in the previous month. Gross mortgage borrowing totalled £13.4 billion in April.* Net mortgage borrowing was 2.4% higher than a year ago. Eric Leenders, BBA Managing Director for Retail Banking said “As the…
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More than one in ten (12%) Britons have had to cancel a credit or debit card in the past year due to online fraud, according to new research by comparethemarket.com. The latest statistics show a worsening state of affairs when it comes to cybercrime, with the number of people cancelling cards rising from 4.5 million…
Read moreThe UK Cards Association has released its latest car expenditure statistics for March 2017 Highlights from the statistics include: Payment card spending in March 2017 was £57.8 billion, up by £335 million (0.6 per cent) on February Contactless payments amounted to 32 per cent of card purchases, an increase from 15 per cent a year…
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Less than half (49%) of consumers regularly change their passwords as a way to prevent fraud, according to research from Callcredit Information Group. Yet, the majority (66%) perceive the risk of identity theft and online fraud as one of their biggest concerns around sharing personal information online. The research, commissioned by Callcredit Information Group as…
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The Central Bank of Ireland has released its latest Credit and Debit Card Statistics from Quarter 1 in 2017. Here is an overview of the key statistics in the report Debit card point of sale spending in March increased 14 per cent on the same month in 2016. In March 2017over €2.7 billion of debit card…
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New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in March, compared with the same month last year, and 6% growth in Q1 2017 as a whole. Credit card and personal loan new business together grew in March by 7%, compared with the same month…
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Here is an overview of The Money Charity’s latest statistics for May 2017: Personal debt in the UK People in the UK owed £1.529 trillion at the end of March 2017. This is up from £1.484 trillion at the end of March 2016 – an extra £886.84 per UK adult. The average total debt per…
Read moreThe Bank of England’s latest money and credit statistics have revealed that mortgage approvals have fallen to a six month low. The statistics also show an increase in consumer debts such as credit cards and loans. The Bank of England’s figures for March 2017 show consumer credit increased by 10.2% in the year to March, to…
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A study, by the International Longevity Centre-UK (ILC-UK), supported by the Building Societies Association (BSA) has found that borrowing into older age is likely to move from niche to mainstream within the next decade. The amount of mortgage debt held by over 65s is set to increase by more than £19 billion by 2030 (from…
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New figures fromThe UK Cards Association show that total card spending in February 2017 was £57.2 billion, an increase of £300 million on January, and up from £52.2 billion in February 2016. Other findings in the report showed: The number of card purchases increased to 1.3 billion, up by 14 million during the month and…
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