Credit, Collections & Insolvency News
Latest Mortgage Lenders and Administrators Statistics for Quarter 2 data from the Bank of England, have shown that low-deposit mortgages hit their highest share in 18 years. The data also showed that the value of outstanding mortgage balances with arrears decreased by 1.9% from the previous quarter to £19.7 billion, the lowest since 2023 Q3,…
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Major lenders have raised mortgage rates to catch up with recent rises in swap rates, according to the latest Moneyfactscompare.co.uk analysis. Over the coming days, more lenders are expected to review mortgage rates in response to higher swap rates, with HSBC and NatWest so far the biggest banks to increase rates since the start of…
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Latest Bank of England data shows mortgage approvals fell to 56,100 in July, down from 58,215 in June and below the six-month average of 60,800, as higher borrowing costs weighed on housing demand. The figure was below the average of around 60,800 over the previous six months. Approvals for remortgaging increased to 34,500 from 34,100,…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in June 2026 was 6% higher than in the same month in 2025. In the first half of 2026, new business in this market was 5% higher than in the same period in 2025. The credit card and personal…
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Latest data from UK Finance has shown that there were 37,300 new loans advanced to older borrowers in Q2, up 13.4 per cent year on year. The value of this lending was £6.2bn, which was up 20.5 per cent compared with the same quarter a year previously. However the year-on-year comparison is inflated due to the…
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Two-thirds of homeowners under 30 have mortgages lasting 30 to 40 years, with borrowers typically repaying them by age 59, according to analysis of 190,000 borrowers by Sprive. Analysis of more than 190,000 homeowners shows that two thirds (66%) of mortgage holders under 30 are now on terms of between 30 and 40 years. By…
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Many aspiring homeowners could be delaying their plans to get on the property ladder because they mistakenly believe they wouldn’t qualify for a mortgage, new research from Lloyds suggests. The study of more than 1,000 prospective first-time buyers found widespread confusion about what could prevent someone from getting a mortgage. More than half (58%) incorrectly…
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The equity release market returned to growth during Q2 2026, with lending and customer activity increasing as customer demand returned following a slower start to the year. According to the latest data from the Equity Release Council, total lending increased to £597 million during Q2 2026, up 4% on the previous quarter (£574m). Overall customer numbers also…
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The Bank of England maintained interest rates at 3.75% in a 6-to-3 vote. The Committee said that it is appropriate to maintain the Bank Rate at this meeting. The Committee stands ready to act as necessary to ensure that CPI inflation remains on track to meet the 2% target in the medium term. Commenting on the…
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Latest Bank of England data has shown that mortgage lending more than doubled from £3.3 billion in May to £7.7 billion in June. June’s figure was also substantially higher than the previous six-month average of £4.9 billion. Mortgage approvals for house purchases increased to 58,200 in June, from 56,600 in May. However, this was below…
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UK Finance’s latest buy-to-let mortgage market Update for Q1 2026 showed that there were 58,272 new buy-to-let loans advanced in the UK, worth £10.8 billion. This was up 3.26 per cent by number compared with the same quarter in the previous year, 7.02 per cent by value. The average gross buy-to-let rental yield for the UK…
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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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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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