Credit, Collections & Insolvency News
Latest Ministry of Justice figures have shown increases in mortgage possession claims from 5,348 to 6,537 (22%), orders from 3,384 to 4,429 (31%), warrants from 2,959 to 3,787 (28%) and repossessions by county court bailiffs from 869 to 1,146 (32%) when compared to the same quarter in 2024. There were increases in mortgage possession claims…
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New data from the Royal Institution of Chartered Surveyors (RICS) UK Residential Survey for July 2025 revealed a slight retreat in the housing market, as previous signs of recovery became uncertain. Tentative signs of recovery that emerged in previous monthly feedback were partially reversed, with measures of demand and agreed sales slipping back into slightly…
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Consumer card spending grew 1.4 per cent year-on-year in July, up from -0.1 per cent in June, but remaining below the latest CPIH inflation rate of 4.1 per cent. Essential spending declined -0.7 per cent, however discretionary spend rose by 2.4 per cent – an increase from June’s 0.8 per cent growth – as changeable…
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The Financial Conduct Authority (FCA) has issued a warning over scammers posing as car finance lenders, highlighting concerns over fraudsters offering fake compensation in exchange for personal details, such as names, addresses, birth dates and bank information. The regulator clarified that no car finance compensation scheme is currently in place, despite recent announcements about potential…
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New data from Lloyds has shown that thousands of football fans have been scammed, with football fans are being urged to guard to against fraud when buying match tickets for the upcoming Premier League season . The data reveals that an estimated £2.5 million has been lost to football ticket fraud over the past two…
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Latest quarterly figures have shown that complaints to the Financial Ombudsman Service (FOS) fell to their lowest in more than a year in the April to June. Figures show that the FOS received 68,000 new cases in the period, with this down from 74,600 complaints seen a year ago. Complaints about motor finance were the…
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The Bank of England’s Monetary Policy Committee (MPC) has voted to reduce the base rate from 4.25% to 4%. The MPC voted 5 to 4 in favour of the move, with the dissenting members preferring to leave rates unchanged at 4.25%. Commenting on the change, Ryan McGrath, Director of Second Charge Mortgages at Pepper Money, said “Interest rates…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in June 2025 by 11% compared with the same month in 2024. In the first half of 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and personal…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in June 2025 by 5% compared with the same month in 2024. The corresponding value of new business grew by 9% over the same period. In the first half of 2025 (H1), new business volumes were…
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Nearly two-thirds of renters surveyed by Barclays expect rent increases this year, impacting their ability to save for a deposit. Rent and mortgage spending increased 5.2 per cent year-on-year in July, and spending on utilities was also up by 2.7 per cent, according to Barclays Property Insights data. As costs rise, renters are finding their…
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New figures released by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £80.3 billion of new lending in the first half of 2025, 4% higher than in the same period 2024. Of this total £20.2 billion was provided to businesses for investment…
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A majority of recent first-time buyers have relied heavily on family support and personal sacrifice to get onto the housing ladder, according to research commissioned by TSB. The survey found that four fifths (80%) had moved back in with parents to save towards a property, while 96% received financial help with their deposit – mostly…
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Younger generations are challenging outdated stereotypes that they are financially irresponsible by showing greater dedication to saving and investing than their older counterparts, new research from Scottish Friendly has revealed. The research shows that while a third (31%) of adults are saving less than they were a year ago, Millennials and Gen Z are nearly twice…
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