Credit, Collections & Insolvency News
New data from Lloyds has shown that thousands of football fans have been scammed, with football fans are being urged to guard to against fraud when buying match tickets for the upcoming Premier League season . The data reveals that an estimated £2.5 million has been lost to football ticket fraud over the past two…
Read more
The Bank of England’s Monetary Policy Committee (MPC) has voted to reduce the base rate from 4.25% to 4%. The MPC voted 5 to 4 in favour of the move, with the dissenting members preferring to leave rates unchanged at 4.25%. Commenting on the change, Ryan McGrath, Director of Second Charge Mortgages at Pepper Money, said “Interest rates…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in June 2025 by 11% compared with the same month in 2024. In the first half of 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and personal…
Read more
New figures released by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £80.3 billion of new lending in the first half of 2025, 4% higher than in the same period 2024. Of this total £20.2 billion was provided to businesses for investment…
Read more
Younger generations are challenging outdated stereotypes that they are financially irresponsible by showing greater dedication to saving and investing than their older counterparts, new research from Scottish Friendly has revealed. The research shows that while a third (31%) of adults are saving less than they were a year ago, Millennials and Gen Z are nearly twice…
Read more
Lenders’ online and in-app application processes can help prospective borrowers understand what they’re signing up for, a review by the Financial Conduct Authority (FCA) has found. However, improvements could be made to these digital processes so that consumers can make informed decisions about their finances. The FCA’s review is part of its strategic focus…
Read more
Latest Bank of England data has shown that net borrowing of consumer credit by individuals rose to £1.4 billion, from £0.9 billion in the previous month. et borrowing through other forms of consumer credit remained broadly unchanged at £0.7 billion over the same period. Commenting on the date, Richard Pinch, Senior Director of Risk at…
Read more
£6.4 billion per year could be added to the UK economy by improving financial inclusion, according to new economic modelling by WPI Economics, commissioned by Fair4All Finance, the not-for-profit financial inclusion organisation. The study shows that £5.9 billion could be raised annually from increased productivity and employment due to improved financial wellbeing. A further £110…
Read more
New analysis by HSBC has found that 78 per cent of mortgage brokers have noticed a rise in the amount of lending agreed for their clients. The poll shows that 93% of the brokers surveyed said that it is important for their clients to increase their borrowing power. Nearly two-thirds (63 per cent) of brokers…
Read more
A new survey from the UK’s leading credit-building business, Loqbox, has revealed that people in the UK are struggling to understand how credit works and what it means for their everyday lives. At a time when the average credit score in the UK is 644 on the Equifax scale and an estimated one in ten…
Read more
Data from Barclays reveals a slight decline in consumer card spending, with a 0.1% fall recorded in June, less than the 1.0 per cent reported in May and below the latest CPIH inflation rate of 4.0 per cent. Confidence in household finances improved six percentage points to 73 per cent – a four-month high. Meanwhile,…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in May 2025 by 2% compared with the same month in 2024. In the first five months of 2025, new business in this market was 4% higher than in the same period in 2024. The credit card and…
Read more
Latest UK credit card data from global analytics software leader FICO provides stark evidence that consumer financial confidence remains low. Whilst spending has followed the usual seasonal drop after Easter, the average active balance is 4.7% higher year-on-year, suggesting consumers are not able to clear as much of their credit card debt. The percentage of…
Read more