Credit, Collections & Insolvency News
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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A new report from the Financial Conduct Authority (FCA) looks to promote the growth of the mutuals sector, which includes customer or worker-owned organisations and credit unions. The FCA’s report offers a series of recommendations aimed at encouraging Credit Unions to expand and to offer more services. Credit Unions serve 2 million members and hold…
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New data from UK Finance has found that later life loans rose 18.4 per cent with 39,950 loans taken out in Quarter 3 (Q3). The value of lending was £6.5 billion, which was up 24.7 per cent compared with the same quarter a year previously. There were 6,040 new lifetime mortgages advanced in Q3, up…
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A new survey by leading specialist bank Vanquis has revealed that Gen Z shoppers are making nearly double the number of impulse purchases as the average person, fuelled by platforms like TikTok, leaving many with financial regrets. Gen Z spends multiple hours a day on social media, with many relying on it as a source…
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Paying for insurance with credit is continuing to gain popularity with customers valuing the ability to pay insurance bills monthly, according to new research by Premium Credit. Premium Credit’s Insurance Index found 28% of adults say they are more accepting of using credit to pay for insurance cover than they were a year ago confirming…
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New data from Moneysupermarket has found that 94% of people don’t realise that ex-housemates could be impacting their credit score. Teh dat found that 79% of people having lived with a flatmate, 94% remain unaware that joint financial products – like shared bank accounts or bills – can directly link their credit score to a…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in September 2025 by 8% compared with the same month in 2024. In the nine months to September 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 Financial Conduct Authority (FCA) research has warned that people should review and avoid using certain credit builder products. The review looked into credit builder products and the harm that they can cause to consumers, particularly if they are struggling with debt. Credit builder products claim to help people build a record of making payments,…
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Up to 1.9 million adults, equivalent to 4% of the population, are estimated to have used unlicensed money lenders or loan sharks in the past 12 months, according to an IPSOS UK survey commissioned by Fair4All Finance. The cost of living crisis has exacerbated this situation for many, reducing households’ headroom to absorb unexpected financial…
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A coalition of businesses and charities have outlined a series of demands for urgent reform to unlock home ownership for millions of renters. Following a summit in London on 29th October, the group have sent a joint letter to the Chancellor ahead of the Autumn Budget, urging reforms that would ensure renters’ payment history is…
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Latest data from UK Finance has found that there were 415 million credit card transactions in July, 2.4 per cent more than in July 2024. The total spend of £22.8 billion was 2.1 per cent higher than July 2024. Outstanding balances on credit card accounts have increased by 7.5 per cent over the twelve months…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 10% in August 2025. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in August 2025 by 2% compared with the same month in 2024. In the eight months to August 2025, new business in this market was 4% higher than in the same period in 2024. The credit card and…
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