Credit, Collections & Insolvency News
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…
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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…
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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,…
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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…
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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…
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Seven in ten people are set to holiday, though 75% of those are finding ways to cut travel costs compared to their last trip, according to new KPMG research. The number of people feeling financially secure has risen this quarter by three percentage points to 58%, whilst confidence that the UK economy is improving has…
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Lenders said they lifted the availability of household secured credit in the three months to the end of May and expect to do so again over the coming quarter, according to a latest Bank of England survey. The survey found that lenders reported that the availability of both secured and unsecured credit to households increased…
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New research from Compare the Market reveals that more than half (52%) of people would be willing to switch credit cards if they found one offering better rewards aligned to their personal needs, even if it came with a higher interest rate. Nearly half of respondents (46%) value cashback as the most important credit card…
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The average credit card debt per borrower has climbed to £2,920 according to research by TransUnion. With two-thirds (67%) of consumers feeling financially comfortable and 43% optimistic about their household finances over the next 12 months – up from 26% in 2022 – demand for credit is growing. Since 2022, the average credit card balance…
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Two-thirds (64 per cent) of wishful parents are dreaming of the day when the financial tide turns and they no longer have to support their grown children, but instead get to enjoy being on the receiving end of their generosity according to research by Moneyfarm. In fact, mums and dads hope the financial scales will…
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New research from TransUnion UK has revealed that over eight million people are using Buy Now Pay Later (BNPL) for items under £50, whilst 4% put purchases under £25 on this short-term credit. Over a quarter (26%) of people now prefer to use BNPL over credit cards for everyday spending, with 18 to 24-year-olds (20%)…
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Consumer confidence has seen a slight increase, with GfK’s consumer confidence index rising by two points in June. The index remains in negative territory at minus 18, four points lower than last year. Confidence among UK consumers has improved but remains fragile in the face of expected petrol price rises amid escalating conflict in the Middle…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.25%. The Bank of England has held interest rates at 4.25%. The Monetary Policy Committee (MPC) voted 6:3 for the hold, with three members voting for a cut. Commenting on the latest decision, John Phillips, CEO of Just Mortgages and…
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