Credit, Collections & Insolvency News
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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Latest Bank of England data showed mortgage approvals for house purchases rose in July for a third consecutive month, Mortgage approvals for house purchases increased by 800 in July, to 65,400. Approvals for remortgaging decreased by 2700 in July, to 38,900. Net borrowing of mortgage debt by individuals decreased by £0.9 billion to £4.5 billion…
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Since the financial crisis of 2008-9, 3.3 million prospective homeowners have missed out on the opportunity to own a home according to new research by leading Pepper Money. The research indicates that if pre-crash financial trends continued, then this would have enabled 3.3 million more households to geton the property ladder. The findings come in…
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Latest data from UK Finance has shown that credit card spending rises to £21.8bn, an increase of 1.8 per cent when compared to May 2024. There were 394.4 million credit card transactions in May, 3.1 per cent more than in May 2024. Outstanding balances on credit card accounts have grown by 6.4 per cent over…
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Latest credit card market data from global analytics software leader FICO shows how rising spend and falling payments to balance are continuing to push up average balances. Increased spending follows expected seasonal trends, but the percentage of balance paid continues to trend downwards, which will be a concern for lenders. The data showed that spending…
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Consumer card spending grew 1.4 per cent year-on-year in July, up from -0.1 per cent in June, but remaining below the latest CPIH inflation rate of 4.1 per cent. Essential spending declined -0.7 per cent, however discretionary spend rose by 2.4 per cent – an increase from June’s 0.8 per cent growth – as changeable…
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