Credit, Collections & Insolvency News
New data from Twenty7tec’s April 2026 Mortgage Market Snapshot (MMS) has revealed a significant slowdown in mortgage search activity following the heightened levels seen earlier this year, underscoring the market’s continued sensitivity to broader economic pressures and borrower affordability concerns. Total mortgage searches fell by 20% month-on-month in April, dropping from 2.15 million in March…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 9% in March 2026 compared with the same month in 2025. In Q1 2026, new business in this market was 6% higher than in Q1 2025. The credit card and personal loans sectors together reported new business…
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Latest data from Moneyfacts has revealed that despite mortgage turmoil easing in April, first-time buyers remain under pressure from reduced choice and stretched affordability. Mortgage product choice has contracted by around 10% since the start of March, with higher loan-to-value deals (10% or less deposit or equity) falling by 14%, a blow to first-time buyers…
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Homebuyers are experiencing the highest mortgage affordability pressures in nearly 20 years, with repayments consuming 21.3% of gross income, according to UK Finance. The data showed that 723,000 house purchase mortgages advanced in 2025, up 17 per cent year-on-year with average borrower spends 21.3 per cent of gross income on repayments. The analysis shows significant…
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Latest data from the Bank of England has shown that consumer credit growth climbing to 8.9%, exceeding the 8.6% recorded in February. Within this total, the annual growth rate for credit card borrowing increased to 12.3% from 12.1% a month earlier. Consumer deposits with banks and building societies increased by £5.5 billion in March. The…
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Latest data from Rightmove has found that higher mortgage rates have pushed monthly repayments above the cost of renting for the first time since June 2025. The average advertised monthly rent across the UK is currently £1,547, compared to an average new monthly mortgage payment of £1,670. Rightmove used the current average asking price for…
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The Financial Conduct Authority (FCA) has published a review into whether Annual Percentage Rates (APRs) help consumers understand borrowing costs, with the regulator seeking views on whether it should change how these are communicated in credit advertising. APRs indicate the yearly cost of borrowing, including interest and fees. A representative APR means at least half…
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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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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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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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