Credit, Collections & Insolvency News
New research from Oakbrook has found that the most complex repayment profiles in its dataset belong to higher earners in middle age. The data highlighted that applicants aged 45 to 54 earning £50,000 or more manage five or more separate credit repayments a month, the highest of any group measured. Across the population measured, applicants…
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With Black Friday almost here, new research commissioned by TopCashback has revealed that 44% of UK adults expect to shop during this year’s sales, spending an average of £237.40. Black Friday is also set to play an important role in Christmas shopping, with seven in ten (72%) of Black Friday shoppers who celebrate Christmas expecting…
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Latest data from Barclays has found that consumer card spending grew 2.3% year-on-year in October – up from 2.0% in September and the highest growth since July 2025, though still below the latest CPIH inflation rate of 3.6%. Essential spending rose 3.1%, up from 2.5 %, as fuel spending climbed 22.7% after diesel passed £2…
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The Bank of England has announced that it has raised the base interest rate from 3.75% to 4%. The Bank has raised interest rates by 0.25 percentage points to 4%, as policymakers try to contain the energy shock from the Middle East conflict Policymakers were unanimous in their decision. They are trying to dampen demand…
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A new report by the Finance & Leasing Association (FLA) is calling for a fresh approach to consumer finance, highlighting its role in employment, mobility and financial inclusion – and the need to better support people who are declined credit. The FLA says the national debate about consumer credit focuses heavily on debt and financial…
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Mortgage approvals for house purchases fell to their lowest level in nearly three years, with the Bank of England reporting 53,443 approvals in September. This follows a rise in mortgage rates linked to the ongoing Middle East conflict. Meanwhile, remortgaging approvals increased to 42,600 from 34,000 in August. Net borrowing of mortgage debt by individuals…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 3% in August compared with the same month in 2025 to reach £9.7 billion. In the eight months to August 2026, new business in this market was 4% higher than in the same period in 2025. The…
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A third (30%) of the lending market is being underserved amid heightening scrutiny around affordability and compliance rules designed to raise the bar for how lending decisions are made, according to the latest market study from Chartis Research and LexisNexis® Risk Solutions. In line with HM Treasury’s push to expand access to affordable credit, nearly…
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New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £110.8 billion of new lending in the eight months to August 2026, 4% higher than in the same period in 2025. Of this total 27.5 billion was provided to…
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One in five (20%), the equivalent of around 10.4 million people aged 18-802, are not planning for their financial futures because they are ‘too busy’ according to research by Standard Life.. While financial pressures are an obvious barrier to saving for retirement, with over half (52%) of those who worry they are not saving enough…
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The average interest rate for a new five-year fixed mortgage has reached 6%, the highest in three years, according to Moneyfacts latest analysis The data shows that the number of sub-5% fixed mortgage deals has plunged by 99%, from 1,494 since the start of September 2026 to just nine today. This figure excludes deals that…
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Around one in five remortgage borrowers were considering variable and tracker mortgages in September while first-time buyers’ interest in variable rate products collapsed, new Money Facts analysis has found. The data in September, 21% of remortgage borrowers researching mortgages on Moneyfactscompare.co.uk were considering variable or tracker mortgages, compared with 14% in July. Whilst 7% of homemovers…
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The latest Bank of England Money & Credit statistics for August find that mortgage borrowing increased to £4.4 billion in August, from £4.1 billion in July, but remained below the previous 6-month average of £5.2 billion. Net mortgage approvals for house purchases – an indicator of future borrowing – decreased to 54,900 in August, down…
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