Credit, Collections & Insolvency News
New research by emerchantpay has found that there is strong market potential for merchants who prioritise the adoption of Open Banking payments early in their payment strategies. The survey of consumers found that one in two people are unknowingly using Open Banking during checkout, with more than half (51%) of the population being unfamiliar with the term…
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Natwest Group has announces that it has entered into an agreement with Sainsbury’s Bank to acquire the retail banking assets and liabilities of Sainsbury’s Bank which comprises its outstanding credit card, unsecured personal loan and saving accounts. NatWest Group expects to acquire approximately £2.5 billion of gross customer assets, comprising £1.4 billion of unsecured personal…
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Half of HMO (house in multiple occupation) landlords in a survey by buy-to-let lender Landbay have said they use their property or portfolio as their sole source of income. Just under 30% of landlords who took part in the survey owned an HMO property or portfolio. 72% of these landlords owned HMO properties through a…
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High interest rates and unaffordable deposits are pricing many Europeans out of buying their first home, whilst expensive rents put further pressure on non-homeowners according to research by Adevinta. As economic indicators – such as the European Central Bank interest rate cut in June – point to an improving Eurozone economy, greater affordability will be…
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More than half (57%) of banking executives surveyed across the UK say that attracting young consumers is one of the biggest challenges they are facing in the next twelve months, according to new research released by Tink. An estimated two thirds (67%) say it is a vital part of future proofing their business, with 50%…
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Latest data from UK Finance has shown that credit card spending has continued to increase as consumers face economic pressures. The report revealed an 0.8% rise in total credit card spending year-on-year and a 5.9% increase in contactless transaction values. James O’Donnell, Director of Research & Consulting at TransUnion said “The UK Finance card spending…
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Which? is calling on the next Prime Minister to appoint a dedicated fraud minister to finally get a grip on fraud, as the consumer champion launches its agenda for Government. Fraud continues to blight the lives of millions of consumers and accounts for around 40 per cent of crimes committed in England and Wales.Losses to…
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New data has found that households in the UK are facing the largest increase in home insurance premiums on record, with extreme weather events being a major factor. Quoted premiums have risen by 41.6% over the past year, the highest annual increase in a decade. While quoted premiums now average between £150 and £199, the…
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Nearly one in five (20%) consumers are using their credit score to better manage credit usage and reach their goals of paying down debts according to research by TransUnion. In the new study, TransUnion has identified and defined three primary categories into which the majority of people who regularly check their credit information fall. First…
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More couples are choosing to prioritise having children over homeownership, according to research by Santander. The research showed that the share of first-time buyers with at least one dependant has increased from 10 per cent in 2009 to 20 per cent in 2023 with the data indicating that more people getting their foot onto the…
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New research by Skipton Building Society has found that rising rental costs has shown that 40% of renters are considering moving back in with their parents to boost their first-time buyer savings. The poll of 2,000 renters with an ambition to buy a home found while 52 per cent of those considering it feel it’s…
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Data sourced from millions of Barclays current accounts has indicated that spending on rent and mortgages increased 6.3 per cent year-on-year in May – faster than April’s uplift of 3.6 per cent. However, signs of optimism are emerging owing to falling inflation and energy prices, and increased spending on home improvement shows indicators of recovery…
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New analysis by Moneyfacts has shown that the average ‘shelf-life’ of a mortgage has nearly halved in a month. At the start of May the average mortgage spent 28 days on the market, by the start of June the average had fallen to just 15 days. While deals are typically spending less time on the…
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