Credit, Collections & Insolvency News
The latest Bank of England Money & Credit statistics for August find that mortgage borrowing increased to £4.4 billion in August, from £4.1 billion in July, but remained below the previous 6-month average of £5.2 billion. Net mortgage approvals for house purchases – an indicator of future borrowing – decreased to 54,900 in August, down…
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A new report from Go.Compare Car Insurance has found that the cost of getting on the road in 2026, including the cost of a first car, has fallen slightly (1%), from £7,040 in 2025 to £6,969. In 2024, the report revealed that the cost of getting on the road had hit an all-time high of £7,100.…
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Consumer confidence unexpectedly hit a more than two-year high in September, as households grew more optimistic about their personal finances, according to the GfK’s consumer confidence barometer. Confidence in the UK has improved for the third consecutive month, reaching minus 13 in September, up one point from last month and marking its highest level since…
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One in five people (15%) have provided personal information to someone before realising they were not genuine, according to new research from Nationwide. Among them is actress and broadcaster Lisa Riley MBE, who was tricked into providing personal information through a convincing scam that appeared completely legitimate. The research also found consumers are exposed to…
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Mortgage sales to borrowers with impaired credit histories have increased to their highest levels since 2008, according to analysis of FCA data provided following a FOI request by leading independent banking and credit advisory consultancy Broadstone. Through 2025, 10,089 mortgages were sold to borrowers with impaired credit histories, representing an increase of 23% from 8,183…
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The UK faces increasing competition for future investment and financial services activity from other global financial centres, and risks losing out unless action is taken to protect the country’s position. A new report from UK Finance and Norton Rose Fulbright draws on the work of UK Finance’s international bank membership, supported by detailed interviews with…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell by 2% in July 2026 compared with the same month in 2025, while the value of new business remained unchanged. In the first seven months of 2026, new business volumes grew by 3% compared with the…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance providers advanced £10.3 billion of new credit in July 2026, 1% lower than in the same month in 2025. In the first seven months of 2026, new business in this market was 4% higher than in the same period in 2025.…
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New research from PensionBee has found that for most adults, owning a home outright is considered more important than preserving their pension and is worth sacrificing retirement years to achieve. PensionBee’s survey of 2,000 UK adults found that 45% cite outright home ownership as the most important factor for retirement security, compared to 36% who…
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Financial firms are shutting down hundreds of thousands of suspected money mule accounts, but organised criminal groups are still shifting dirty money through multiple bank accounts before cashing out, according to a Financial Conduct Authority (FCA) survey. The FCA has found firms have closed an increasing number of suspected mule accounts over the last three…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s ninth annual Credit & Collections Technology Awards. The finalists for this year’s awards consist of 112 entrants (whittled down from nearly 130 entries) from over 60 companies on the shortlist. There are also 20 partner entries in the running to win across…
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New statistics published by HMRC today show 293,000 people currently have an open account with the Government’s Help to Save scheme. Due to a widening of eligibility to all working Universal Credit claimants, the number of people opening accounts has risen by around 53% year on year. While this is a welcome rise, up to…
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New research from Standard Life has found that among those aged 55-70 with a defined contribution pension found 90% of those yet to retire want to have their finances as simple and straightforward as possible before retiring, whilst over half of all those aged 55-70 with a DC pension (54%) view retirement as an opportunity to…
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