Credit, Collections & Insolvency News
Fewer victims, more money returned and firms stepping up to tackle and prevent fraud. These are some of the findings from Frontier Economics’ independent review, which confirms that the Authorised Push Payment (APP) reimbursement policy is having a positive impact, with in-scope losses falling significantly since its introduction. Frontier found that APP fraud losses have…
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Latest data from the Bank of England has shown that mortgage approvals fell sharply in May 2026, reaching their lowest level in two and a half years. The data also showed a 14.9% decline, with approvals dropping to 56,205 from 66,034 in April. Net borrowing of consumer credit by individuals remained largely unchanged when compared…
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UK households and businesses received £69 billion of new finance from Finance & Leasing Association (FLA) members in the first five months of 2026, up 4% on the same period last year, according to new figures published today. The new figures are being released at the same time of the FLA’s first Impact Report. The…
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Young people born from the mid-1990s onwards are enjoying higher living standards than their millennial predecessors so far in their careers, in part by becoming the stay-at-home generation, according to new Resolution Foundation research. The report finds that Gen Z has become the stay-at-home generation, with almost two-thirds (63 per cent) of young adults aged…
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UK Finance announces it is supporting Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, NatWest Group and Santander in developing a financial services-led digital verification service. Many online processes still require customers to repeatedly verify their identity, often by sharing multiple physical documents or pieces of information to confirm a single detail, such as their…
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Following last week’s Bank of England decision to hold interest rates at 3.75%, many homeowners may be breathing a sigh of relief. But after a year of stubborn inflation and global instability keeping borrowing costs higher for longer, those nearing the end of cheaper fixed-rate deals are still facing a sharp jump in monthly outgoings…
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The Finance & Leasing Association (FLA) has welcomed the Financial Conduct Authority’s (FCA) market study into claims management services, while encouraging the regulator to take early action in areas where evidence of consumer and market harm is already well understood. The FLA said the review represents an important opportunity to improve outcomes for consumers and…
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Latest Resolution Foundation analysis has shown that today’s 24-year-olds earn more than any previous cohort since the 1950s. The data shows that their average weekly pay is 12% higher than peers born in the late 1980s. That is positive for many young workers, despite concerns about student debt and job opportunities. There has been widespread…
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The number of pure interest-only homeowner mortgages outstanding fell by 17.7% in 2025 to 445,000, according to latest figures from UK Finance. In addition, there were 156,000 partial interest-only (part and part) homeowner mortgages outstanding at the end of 2025, 10.3 per cent fewer than in 2024. The total interest-only mortgage stock (including part and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 3% in April 2026 compared with the same month in 2025. The corresponding value of new business was 9% higher over the same period. In the first four months of 2026, new business volumes grew…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 3% in April 2026 compared with the same month in 2025. In the first four months of 2026, new business in this market was 5% higher than in the same period in 2025. The credit card and…
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New data from Standard Life has found that nearly a quarter (23%) of Gen Z adults say they’re not focused on saving for retirement because they expect to inherit money or property The datas showed rge nearly one in four (23%) Gen Z (born between 1997 and 2012) say they are not prioritising retirement saving…
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New data from Updraft has suggested that the average person in the UK has £1,400 in credit card debt in 2026, and will pay £342 on interest this year alone – yet 82% haven’t consolidated their debt. The new figures, based on an analysis of Bank of England and ONS data, show that the average…
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