Credit, Collections & Insolvency News
Latest data from the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA has shown that the outstanding value of all residential mortgage loans increased by 0.3% from the previous quarter to £1,703.6 billion, and was 2.6% higher than a year earlier. Mortgage Lending and Administration Return (MLAR) data shows that mortgage advances decreased…
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Later life mortgage lending continues to rise with people over 70 lending increasing by almost 10% according to latest UK Finance data. The data shows that £570 million pounds of lending was to borrowers over 70 up by 9.62%. Meanwhile there were 33,130 new loans advanced to borrowers over 55 in Q2 2025 – up…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in July 2025 by 4% compared with the same month in 2024. In the seven months to July 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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New data from Moneyfacts has shown that despite softening house price growth, the burden of mortgage payments is impacting household finances. The data shows that an average earner is able to put down the required deposit and commit to a mortgage in the past couple of years, but will have found their monthly mortgage payment…
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Latest data from UK Finance has found that mortgage lending activity dipped in early Quarter 2 (Q2) following stamp duty changes but had recovered by June, with forward‑looking application data pointing to continued momentum into the third Quarter. The FCA’s mortgage affordability stress test has helped keep arrears low on mortgages granted since its introduction, but…
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Latest Bank of England data showed mortgage approvals for house purchases rose in July for a third consecutive month, Mortgage approvals for house purchases increased by 800 in July, to 65,400. Approvals for remortgaging decreased by 2700 in July, to 38,900. Net borrowing of mortgage debt by individuals decreased by £0.9 billion to £4.5 billion…
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Latest Office National Statistics (ONS) data has shown that private renters typically spend 36.3%, or £1,232 in monthly rent, of their income on an average-priced let home in England. This is higher than Wales and Northern Ireland, where 25.9%, or £702, and 25.3%, or £751, of pay was spent on rent last year, respectively, according to the…
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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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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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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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Latest Bank of England data has shown that net borrowing of mortgage debt by individuals increased by £3.1 billion to £5.3 billion in June, compared to a £2.8 billion increase to £2.2 billion of net borrowing in May. The ‘effective’ interest rate – the actual interest paid – on newly drawn mortgages decreased for the…
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New Freedom of Information (FOI) data from the Financial Conduct Authority (FCA), analysed by Quilter, has revealed a significant rise in the number of people taking out mortgages with a term of 35 years or more. In 2024, 30,338 mortgages with a term of 35 years or more were sold to people aged over age…
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A survey commissioned by the Building Societies Association (BSA), which represents UK mutual lenders like building societies and credit unions, found that 59% (nearly a third) of renters aged 25 to 44 had expected to be homeowners by now. Of those, 33% believe they will never own a home, while 31% hope to buy within…
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