Credit, Collections & Insolvency News
Latest quarterly data from UK Finance for Quarter 1 (Q1) has found that there were 58,347 new buy-to-let loans advanced in the UK, worth £10.5 billion. This was up 38.6 per cent by number (46.8 per cent by value) compared with the same quarter in the previous year. The average gross buy-to-let rental yield for…
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New analysis by HSBC has found that 78 per cent of mortgage brokers have noticed a rise in the amount of lending agreed for their clients. The poll shows that 93% of the brokers surveyed said that it is important for their clients to increase their borrowing power. Nearly two-thirds (63 per cent) of brokers…
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A new survey from the UK’s leading credit-building business, Loqbox, has revealed that people in the UK are struggling to understand how credit works and what it means for their everyday lives. At a time when the average credit score in the UK is 644 on the Equifax scale and an estimated one in ten…
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New research by the Financial Conduct Authority (FCA) has revealed that while rising motor insurance premiums are largely driven by external cost pressures, shortcomings persist in how some insurers handle claims. FCA analysis shows that increases in the cost of motor claims – due to higher prices for cars, parts, labour, energy and more complex…
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Consumer confidence in the UK has reached its lowest point in over a year, primarily due to Labour’s tax increases, which have led to rising prices and job losses. According to Deloitte’s index, household confidence has not been this low since early 2024, coinciding with a four-year high in unemployment at 4.7% and inflation rising…
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The Financial Conduct Authority (FCA) has published a package of reforms to the mortgage market rules to support borrowers to find it easier to remortgage, saving time and money. The FCA says that under the new changes, borrowers will find it easier to reduce their mortgage term, helping to lower the total cost of borrowing…
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The average cost of driving for young motorists, aged under 25, has fallen by £678 in the past year, according to the latest research from Compare the Market. The decline in the cost of driving is mainly due to a drop in the average car insurance premium, which decreased to £1,437 in March 2025, compared…
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The Financial Conduct Authority (FCA) has proposed new regulations for Buy Now, Pay Later (BNPL) providers, requiring them to ensure that borrowers can afford repayments and to offer support in the event of financial difficulties. The rules will come into effect when BNPL falls under the FCA’s oversight next year, granting borrowers protections similar to…
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Data from Barclays reveals a slight decline in consumer card spending, with a 0.1% fall recorded in June, less than the 1.0 per cent reported in May and below the latest CPIH inflation rate of 4.0 per cent. Confidence in household finances improved six percentage points to 73 per cent – a four-month high. Meanwhile,…
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New analysis from FICO has revealed a worrying trend of rising card fraud levels and losses across the continent. The data from Euromonitor International on 18 countries shows that Card Not Present (CNP) fraud dominates card fraud losses and has increased across most countries. E-commerce fraud, e-wallet, social engineering and QR code fraud or “quishing”…
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The Financial Conduct Authority (FCA) has fined Barclays Bank a total of £42 million for separate instances of failings in its financial crime risk management – one relating to WealthTek and one relating to Stunt & Co. Barclays Bank UK PLC will make a voluntary payment to WealthTek’s clients. In the first case, Barclays Bank…
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The Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) have announced reforms with an aim to modernise the financial redress system to help prevent it from becoming overwhelmed, delaying consumer compensation. Currently, the majority of complaints are resolved by firms, and the redress system works well for individual cases that come to the Financial…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in May 2025 by 2% compared with the same month in 2024. In the first five months of 2025, new business in this market was 4% higher than in the same period in 2024. The credit card and…
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