Credit, Collections & Insolvency News
The Government has announced new measures on how it intends to modernise payment services regulation and update it to support innovations in money and payments. The measures include improving the regulation of payment services and electronic money by integrating it with the UK’s core regulatory approach for financial services. This will mean establishing a single,…
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The Association of British Credit Unions (ABCUL) has announced it has rebranded to become All Together Money. All Together Money says that the change in name reflects a renewed commitment to bringing credit unions together, strengthening their collective voice and helping them grow in a fast-changing world. Built on cooperation, not competition, All Together Money…
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Mortgage adviser activity rose sharply in March, with total searches reaching 2,150,593, as borrowers responded to ongoing economic uncertainty and shifting mortgage pricing, according to the latest Mortgage Market Snapshot from Twenty7tec. Data from Insight Pro shows this represents a 19% increase compared with February and a 17% rise year on year, marking the highest…
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Adverts which used edited, unauthorised clips of Martin Lewis to make misleading claims about average motor finance compensation and used the Financial Conduct Authority (FCA) logo without permission have been banned by the FCA. Conclusive Financial Ltd (Conclusive), a claims management company (CMC) which also trades as PCP Refunds, was required to remove its advertising…
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The Financial Conduct Authority (FCA) has outlined new measures that aim to give consumers and businesses greater control over their financial data to help secure better deals. The FCA says that open finance will unlock the potential for people and businesses to share their financial data securely with a range of financial services providers, helping…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 2% in February 2026 compared with the same month in 2025. The corresponding value of new business was 5% higher over the same period. In the first two months of 2026, new business volumes grew…
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Latest data from the Royal Institution of Chartered Surveyors (RICS) has found the market losing momentum as rising borrowing costs and wider geopolitical uncertainty weighed heavily on buyer confidence and sales activity. New buyer enquiries fell to a net balance of -39%, down from -29% in February, marking the weakest reading since August 2023. Agreed…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 5% in February 2026 compared with the same month in 2025. In the first two months of 2026, new business in this market was 4% higher than in the same period in 2025. The credit card and…
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Some of the UK’s leading lenders have expressed their frustrations with UK banking regulation in a new report from the Association for Financial Markets in Europe (AFME). AFME welcomes the FPC’s move to lower its benchmark for Tier 1 capital requirements, which reflects both the effectiveness of postcrisis reforms and improvements in risk measurement. However, AFME cautions that a reduction…
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Mortgage rates have risen significantly since the start of the war in Iran, leaving homeowners facing steep increases in monthly payments – at a time when living costs are already rising across the board, warns Sprive. According to Moneyfacts, the lowest available 2-year fixed deal before the start of the conflict in the Middle East…
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The Government has announced a crackdown on unwanted and misleading subscriptions, which will save consumers around £400 million every year. The new rules will make it simpler and far less painful to escape unwanted subscriptions, stop people from being silently rolled onto expensive contracts and ensure that companies are upfront and open when selling subscription…
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The Financial Conduct Authority (FCA) has announced a £9.1 billion motor finance redress scheme, a significant reduction from earlier estimates of £11 billion. The number of qualifying agreements has decreased from 14.2 million to 12.1 million, leading to lower overall costs. Millions of motor finance customers will receive compensation this year under a Financial Conduct Authority (FCA)…
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Latest Bank of England data has shown that net borrowing of mortgage debt by individuals increased to £4.8 billion in February, from £4.2 billion in January. The rise in February is also above the previous six-month average of £4.5 billion. The data also shows that net mortgage approvals for house purchases increased to 62,600 in…
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