Credit, Collections & Insolvency News
The number of Africans applying for, or planning to apply for a UK mortgage is falling as foreign nationals continue to struggle to navigate the UK home loan system, according to research by Afin Bank. The research by the specialist lender found that 38% had a mortgage in 2026, compared with 48% in 2025 and…
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New research from The Social Market Foundation has warned that many workers may face a ‘pension shock’ in the coming decade, as they realise their retirement income is likely to be significantly lower than expected. Gen X (those born between 1965 and 1980) fall in the gap between the two pension systems. Many were too…
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The UK is facing a growing financial literacy crisis, with millions of households navigating credit without fully understanding how it works, according to new research from Creditspring. As borrowing becomes faster and more accessible, consumers risk making costly, but entirely avoidable, financial decisions. Across the UK, understanding of even the most basic credit concepts remains…
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Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 10% in December 2025 compared with the same month in 2024. In 2025 as a whole, new business in this market was 6% higher than in 2024. The credit card and personal loans sectors together reported new business…
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Latest figures from the Bank of England show net mortgage approvals for house purchases fell to 60,000 from 61,000 in December, the fourth consecutive monthly drop and the lowest figure since January 2024. The decline follows uncertainty surrounding the November Budget. Remortgaging approvals also decreased slightly to 38,100, from 38,400 in December. Net borrowing of…
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Latest UK Finance data has shown that mortgage lending grew strongly in 2025, rising by over 16 per cent to its highest level since 2021. Overall, 2025 was a year of growth for the mortgage market. The number of mortgages for house purchase grew by 16.3 per cent to reach 720,000 loans, the highest number…
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UK Finance has released its latest data on the later life mortgage showing that lending increased by 15.1% in Quarter 4 (Q4). The data showed that 41,400 new loans advanced to borrowers over 55 in Q4 2025. £810 million pounds of lending was to leant borrowers aged 65 to 70, up a huge 26.56%. A…
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Lenders could have access to more comprehensive information to support lending decisions, under new proposals by the Financial Conduct Authority (FCA). The FCA is consulting on designating certain credit reference agencies (CRAs). If a lender shares credit information with one designated consumer CRA, it would be required to share it with them all. The changes…
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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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Evlo has announced a new partnership with rent-reporting platform, CreditLadder. The partnership is the next milestone in Evlo’s industry-focused’ Financial Freedom for Everyone’ campaign, which is calling for reforms that make the credit system fairer and more inclusive for renters. Through this collaboration, Evlo will be able to connect its renter customers, especially those with…
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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 Financial Conduct Authority (FCA) has outlined new measures for Buy Now, Pay Later (BNPL) lending, which will aim to simplify information for borrowers whilst ensuring income checks and support for those in financial difficulty. Lenders must now be authorised and comply with the FCA’s Consumer Duty, ensuring clearer information on agreements and affordability checks.…
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Consumer confidence has now been negative for ten consecutive years, with the GfK index falling sharply again in January. Analysts describe a mood of resignation rather than panic, as inflation continues to outpace wage growth and households remain cautious. The prolonged pessimism is dampening entrepreneurial risk-taking and discretionary spending. The Consumer Confidence Index was up…
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