Credit, Collections & Insolvency News
A new report from Pensions UK has warned that most workers are not saving enough for even a ‘moderate’ lifestyle during retirement. The Retirement Living Standards report argues that rising bills have pushed a moderate retirement, priced at £32,700 a year for one person or £45,400 for a couple, further out of reach, with only…
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Latest Bank of England data has shown that mortgage approvals reached a 15-month high of 65,900 in April, a 3% increase from March. Net borrowing of mortgage debt by individuals fell to £4.4 billion in April, from £6.8 billion in March, below the previous 6-month average of £5.1 billion. Approvals for remortgaging were broadly unchanged…
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Boss of firm which sparked almost 38,000 complaints over high-interest loan spam texts banned as company director until 2032. Leanne Richardson was the director of ESL Consultancy Services Ltd, which generated almost 38,000 spam text complaints. ESL Consultancy Services Ltd was fined £200,000 by the Information Commissioner’s Office (ICO) but went into liquidation without paying…
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Average mainstream house prices are expected to fall by 2% in 2026, as higher mortgage rates reduce demand, according to property firm Savills’ revised mainstream housing forecast. The report, however, states that there remains good capacity for house price growth in the medium term, as economic prospects are expected to improve and the market becomes…
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Latest data from UK Finance shows that there were 36,050 new loans advanced to older borrowers in Q1, down 4.8 per cent year on year. The value of this lending was £6 billion, up 0.3 per cent from the same quarter a year earlier. There were 5,300 new lifetime mortgages advanced in Q1, down 8…
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Buying a first home is one of life’s biggest milestones, but for many, the process comes with confusion and uncertainty. L&G’s survey of 2,000 UK homeowners found that both moving house (48%) and buying a home (35%) are considered more stressful than a divorce or romantic breakup (33%). Even with careful planning, the costs of…
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One in five (20%) UK consumers say bank branch closures are making it harder to access the financial services they need according to research from CRIF. The findings come as the government launches an independent Access to Banking Review to examine the real-world impact of branch closures and consider whether further intervention is needed to…
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Refund fraud could be costing UK online retailers up to £5.76 billion a year, according to new research from the University of Portsmouth, funded by fraud prevention service, Cifas. The research found fraudsters have been using these channels to openly share techniques, target retailers, and sell fraudulent refunds as a paid service. Some ‘refund‑as‑a‑service’ vendors…
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Consumer confidence increased this month, defying expectations, with the GfK index rising to minus 23, despite economic concerns affecting lower-income households’ purchasing intentions. Four measures were up and one was down, compared to last month’s announcement. Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said “Consumers appear to be in a more generous mood…
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Around one in seven consumer insurance customers surveyed either decided against buying insurance or cancelled certain types of cover in the past year, new research from Premium Credit. The research found that 15% of consumers in the past year have cancelled or decided against cover, up from 11% in last year’s Insurance Index. Despite cancelling…
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The Government has announced that it will modernise the Consumer Credit Act (CCA) for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate. The Government says that consumers who take out loans, credit cards or overdrafts are expected to benefit from clearer information about costs and key…
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New data from Twenty7tec’s April 2026 Mortgage Market Snapshot (MMS) has revealed a significant slowdown in mortgage search activity following the heightened levels seen earlier this year, underscoring the market’s continued sensitivity to broader economic pressures and borrower affordability concerns. Total mortgage searches fell by 20% month-on-month in April, dropping from 2.15 million in March…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 8% in March 2026 compared with the same month in 2025. The corresponding value of new business was 11% higher over the same period. In Q1 2026, new business volumes grew by 4% compared Q1…
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