Credit, Collections & Insolvency News
Consumer spending reached a 13-month high in August, driven by a resurgence in entertainment and travel, according to analysis by Barclays. Card spending grew by 2.1 % year-on-year in August, building on July’s 2.0 % increase, but remaining below the latest CPIH inflation rate of 3.1 %. Both essential and non-essential spending increased 2.1 %,…
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Latest Mortgage Lenders and Administrators Statistics for Quarter 2 data from the Bank of England, have shown that low-deposit mortgages hit their highest share in 18 years. The data also showed that the value of outstanding mortgage balances with arrears decreased by 1.9% from the previous quarter to £19.7 billion, the lowest since 2023 Q3,…
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Fraud prevention service, Cifas, has announced that Companies House is joining the National Fraud Database (NFD) membership. Identity fraud continues to be the most prevalent fraud type recorded to the NFD, accounting for 59% of all cases during the first half of 2026. With criminals increasingly using false or stolen identities, Companies House’s participation in…
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Major lenders have raised mortgage rates to catch up with recent rises in swap rates, according to the latest Moneyfactscompare.co.uk analysis. Over the coming days, more lenders are expected to review mortgage rates in response to higher swap rates, with HSBC and NatWest so far the biggest banks to increase rates since the start of…
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Almost four in ten parents with children under 18 have no Junior ISA (JISA) open for their children, Scottish Friendly has found. The mutual’s latest Family Finance Tracker research has found that 38 per cent of parents with children under 18 have no JISA in place for any of their children, with everyday pressures and a lack…
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Latest Bank of England data shows mortgage approvals fell to 56,100 in July, down from 58,215 in June and below the six-month average of 60,800, as higher borrowing costs weighed on housing demand. The figure was below the average of around 60,800 over the previous six months. Approvals for remortgaging increased to 34,500 from 34,100,…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 7% in June 2026 compared with the same month in 2025. The corresponding value of new business was 11% higher over the same period. In the first half of 2026, new business volumes grew by…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in June 2026 was 6% higher than in the same month in 2025. In the first half of 2026, new business in this market was 5% higher than in the same period in 2025. The credit card and personal…
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Latest data from UK Finance has shown that there were 37,300 new loans advanced to older borrowers in Q2, up 13.4 per cent year on year. The value of this lending was £6.2bn, which was up 20.5 per cent compared with the same quarter a year previously. However the year-on-year comparison is inflated due to the…
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New research from Close Brothers Motor Finance (CBMF) reveals that AI has transitioned into a mainstream operational tool for motor traders. Nearly two-thirds (65%) of UK motor dealerships are already actively using AI tools in their business today, with a further third (32%) planning to introduce them in the future. Among dealerships utilising or planning…
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Parents are taking different approaches to managing back-to-school costs, with 22% planning to use a credit card, 16% of parents planning to use Buy Now, Pay Later (BNPL) to cover back-to-school costs, and 19% saying they have cut back on other spending to afford the return to school, new research from Compare the Market has…
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Two-thirds of homeowners under 30 have mortgages lasting 30 to 40 years, with borrowers typically repaying them by age 59, according to analysis of 190,000 borrowers by Sprive. Analysis of more than 190,000 homeowners shows that two thirds (66%) of mortgage holders under 30 are now on terms of between 30 and 40 years. By…
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Latest data analysis by FICO has shown that average credit card spending increased by 5.6% to £835 in June. The average active balance increased 1.4% to a record £1,975, marking a 4.7% increase on a year earlier, while the proportion of balances repaid fell 2.4% month-on-month to 33.3%, with this 4.4% below June 2025. Missed…
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