Credit, Collections & Insolvency News
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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New research by UK Finance has found that more people are now using digital payments, with rising use of in-app purchases, digital wallets, and Buy Now Pay Later for shopping. At the same time, cash payments have again fallen. These trends indicate that people are increasingly opting for digital payment options, a trend that is…
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New research from MoneySuperMarket warned that former flatmate’s finances could be pulling down their credit score. Despite 79% of people having lived with a flatmate, 94% don’t realise that joint financial products – like shared bank accounts or bills – can directly link their credit score to a housemate’s. Worryingly, only 8% of those surveyed…
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Latest Bank of England data showed that net borrowing of mortgage debt fell by £200 million month-on-month to £4.3 billion in August. This came after a £900m decrease to £4.5bn in July. Mortgage approvals fell last month as uncertainty hit one of the key indicators in the property market. Mortgage approvals for house purchases decreased…
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Consumer confidence in the UK has declined, with GfK’s Consumer Confidence Index showing a fall by two points to -19 in September. Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said “There’s an autumnal chill in the air this month, with all five measures of consumer confidence down and the Overall Index Score for September…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.0%. Commenting on the MPC’s decision not to change the Bank Rate Paul Broadhead, Head of Mortgage and Housing Policy at the Building Societies Association said “CPI Inflation has remained elevated at 3.8% and is expected to stay higher for…
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New data from Updraft has shown that social media–fuelled travel fear of missing out (FOMO) is the largest driver in credit card debt, with September now emerging as a peak month for overspending. In a survey of 2,002 UK adults and 274 recent credit card loan recipients, 46% said they overspent this summer after feeling…
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Consumer card spending grew just 0.5 per cent year-on-year in August, down from 1.4 per cent in July and lower than the latest CPIH inflation rate of 4.2 per cent, according to new data from Barclays. Essential spend declined, however, discretionary spend rose 2.0 per cent, as clothing, furniture and health & beauty stores all…
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Later life mortgage lending continues to rise with people over 70 lending increasing by almost 10% according to latest UK Finance data. The data shows that £570 million pounds of lending was to borrowers over 70 up by 9.62%. Meanwhile there were 33,130 new loans advanced to borrowers over 55 in Q2 2025 – up…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in July 2025 by 4% compared with the same month in 2024. In the seven months to July 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 data from Moneyfacts has shown that despite softening house price growth, the burden of mortgage payments is impacting household finances. The data shows that an average earner is able to put down the required deposit and commit to a mortgage in the past couple of years, but will have found their monthly mortgage payment…
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New research from ATM network Link has shown that fewer than half of UK adults leave home with a wallet or a purse. The research makes recommendations focused on making sure we have a resilient and effective payments system in a world where digital is increasingly dominant. It also gives hints and tips to people…
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