Credit, Collections & Insolvency News
Many aspiring homeowners could be delaying their plans to get on the property ladder because they mistakenly believe they wouldn’t qualify for a mortgage, new research from Lloyds suggests. The study of more than 1,000 prospective first-time buyers found widespread confusion about what could prevent someone from getting a mortgage. More than half (58%) incorrectly…
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The UK is increasingly embracing digital payments, with 91% of adults using online, mobile, or telephone banking in 2025, up from 88% in 2024, according to UK Finance’s Payment Markets Report. The analysis shows that mobile banking is the preferred method for 75% of adults. Cards and digital payments continue to dominate consumer spending. Debit…
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New findings from CRIF have shown how three in ten (29%) consumers hold pet insurance, more than double the average for the rest of Europe (12%). The UK is also the only country surveyed in which pet insurance is more widely held than health insurance (29% vs 19%). The devotion to their pets is costing…
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Latest analysis by Hargreaves Lansdown (HL) has found that two-thirds of people admit they will rely on the state pension ‘to some extent’ in retirement. Almost one-in-ten say they will be totally dependent on the benefit. Almost one in five say they will be heavily reliant on it, whilst 14% of people say they are unsure. Women…
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Despite growing up in one of the most connected generations, many young adults are keeping their finances firmly behind closed door. The research by Skipton Building Society found that four in ten (40 per cent) Gen Z don’t want to reveal how much they spend, earn or save with others. This ranges from talking about…
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Almost a fifth (18 per cent) of UK adults do not have or cannot identify a long-term financial goal, new research from Scottish Friendly has found. Nearly one in five people surveyed told the mutual they did not know what they wanted their finances to achieve over the next five years or more, according to…
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Research from the savings app Spring has found that adults receiving financial support from their parents receive an average of £11,241, highlighting the role family wealth plays in helping adult children navigate major financial milestones. While around one in seven (15%) UK adults receive financial support from their parents, those who do are often receiving…
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Bolton-based Hoot Savings & Loans has secured a stronger future for its members, joining forces with Manchester Credit Union (MCU) in a deal that extends access to affordable financial services across the north west. The merger secures the future for Hoot’s 6,500 members in Bolton and Bury and adds them to Manchester Credit Union’s 30,000-strong…
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The modern ‘Bank of Mum and Dad’ is expected to contribute around £30,000 (£30,209) towards a child’s biggest life milestones and two-thirds (66%) wish they could contribute even more financial help, according to new Yorkshire Building Society research. Analysis of the study found that parents who help fund key moments throughout their child’s life save…
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Almost one in three first-time buyers were considering variable and tracker mortgages in July as higher fixed rates push homebuyers to rethink how they finance their first home, new Moneyfactscompare.co.uk analysis. In July, 31.3% of first-time buyers (FTBs) researching mortgages on Moneyfactscompare.co.uk were considering variable or tracker mortgages, compared with just 9.5% in February. The…
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The equity release market returned to growth during Q2 2026, with lending and customer activity increasing as customer demand returned following a slower start to the year. According to the latest data from the Equity Release Council, total lending increased to £597 million during Q2 2026, up 4% on the previous quarter (£574m). Overall customer numbers also…
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Latest Bank of England data has shown that the total assets held by Credit Unions increased by nearly £100,000 to £4.99 billion in 2025, up 2% from the previous year. Membership also continued to grow, increasing by 0.80% to 2.29 million members. Total income increased by 6.03% in 2025 to £444.47 million, following growth of…
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Hodge Bank has announced that it has acquired the business and certain assets of Blue Motor Finance Limited through a pre-pack Administration process. Simon Edel, Alan Hudson and Richard Barker of EY Parthenon were appointed as Joint Administrators of the company, and the sale was completed immediately upon their appointment. The agreement means that the…
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