Credit, Collections & Insolvency News
UK households and businesses received £69 billion of new finance from Finance & Leasing Association (FLA) members in the first five months of 2026, up 4% on the same period last year, according to new figures published today. The new figures are being released at the same time of the FLA’s first Impact Report. The…
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New data from Updraft has suggested that the average person in the UK has £1,400 in credit card debt in 2026, and will pay £342 on interest this year alone – yet 82% haven’t consolidated their debt. The new figures, based on an analysis of Bank of England and ONS data, show that the average…
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Latest data from the Bank of England has shown that the outstanding value of all residential mortgage loans increased by 0.7% from the previous quarter to £1,746.1 billion, and was 2.6% higher than a year earlier. The value of gross mortgage advances decreased by 12.3% from the previous quarter to £69.6 billion, and was 10.2%…
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Brits are projected to splash out an estimated £6.6 billion on spontaneous spending while on holiday abroad this year as they look to make the most of their overseas breaks, research from savings app Spring has revealed. A survey of 2,000 Brits found that 79% of holidaymakers admit to spending extra on spontaneous purchases while…
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Mortgage activity continued to moderate in May as search volumes declined across all major lending categories, according to the latest Mortgage Market Snapshot from Twenty7tec. The data shows total mortgage searches reached 1,590,911 during May 2026, down 7% compared with April and 15% lower than May 2025. Residential searches totalled 1,341,508, representing a 7% monthly…
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The number of consumers returning to the high street continued to fall in May, according to data from the British Retail Consortium (BRC) (This is Money). Data showed a 2.6 per cent decline in footfall in May compared to the same time last year, although this is better than the year-on-year drop of 10.7 per…
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Latest Bank of England data has shown that mortgage approvals reached a 15-month high of 65,900 in April, a 3% increase from March. Net borrowing of mortgage debt by individuals fell to £4.4 billion in April, from £6.8 billion in March, below the previous 6-month average of £5.1 billion. Approvals for remortgaging were broadly unchanged…
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Buying a first home is one of life’s biggest milestones, but for many, the process comes with confusion and uncertainty. L&G’s survey of 2,000 UK homeowners found that both moving house (48%) and buying a home (35%) are considered more stressful than a divorce or romantic breakup (33%). Even with careful planning, the costs of…
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The winners of the 2026 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 21st May) at Eastwood Hall, Nottingham. There were 19 winners (three of which were partnership wins) from the awards categories, which were presented by awards compere Eshaan Akbar. The Credit & Collections Industry Awards were…
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Consumer confidence increased this month, defying expectations, with the GfK index rising to minus 23, despite economic concerns affecting lower-income households’ purchasing intentions. Four measures were up and one was down, compared to last month’s announcement. Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said “Consumers appear to be in a more generous mood…
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Around one in seven consumer insurance customers surveyed either decided against buying insurance or cancelled certain types of cover in the past year, new research from Premium Credit. The research found that 15% of consumers in the past year have cancelled or decided against cover, up from 11% in last year’s Insurance Index. Despite cancelling…
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The Government has announced that it will modernise the Consumer Credit Act (CCA) for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate. The Government says that consumers who take out loans, credit cards or overdrafts are expected to benefit from clearer information about costs and key…
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New data from Twenty7tec’s April 2026 Mortgage Market Snapshot (MMS) has revealed a significant slowdown in mortgage search activity following the heightened levels seen earlier this year, underscoring the market’s continued sensitivity to broader economic pressures and borrower affordability concerns. Total mortgage searches fell by 20% month-on-month in April, dropping from 2.15 million in March…
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