Credit, Collections & Insolvency News
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 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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Latest data from the Bank of England has shown that the outstanding value of all residential mortgage loans increased by 0.7% from the previous quarter to £1,746.1 billion, and was 2.6% higher than a year earlier. The value of gross mortgage advances decreased by 12.3% from the previous quarter to £69.6 billion, and was 10.2%…
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The Financial Conduct Authority (FCA) has outlined plans to widen access to mortgages for groups including first-time buyers, older borrowers and self-employed people. Proposals include expanding access to interest-only and part interest-only loans, easing later-life borrowing rules and encouraging lenders to assess applicants based on their current financial circumstances rather than relying heavily on past…
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Mortgage activity continued to moderate in May as search volumes declined across all major lending categories, according to the latest Mortgage Market Snapshot from Twenty7tec. The data shows total mortgage searches reached 1,590,911 during May 2026, down 7% compared with April and 15% lower than May 2025. Residential searches totalled 1,341,508, representing a 7% monthly…
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Latest Bank of England data has shown that mortgage approvals reached a 15-month high of 65,900 in April, a 3% increase from March. Net borrowing of mortgage debt by individuals fell to £4.4 billion in April, from £6.8 billion in March, below the previous 6-month average of £5.1 billion. Approvals for remortgaging were broadly unchanged…
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Average mainstream house prices are expected to fall by 2% in 2026, as higher mortgage rates reduce demand, according to property firm Savills’ revised mainstream housing forecast. The report, however, states that there remains good capacity for house price growth in the medium term, as economic prospects are expected to improve and the market becomes…
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The winners of the 2026 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 21st May) at Eastwood Hall, Nottingham. There were 19 winners (three of which were partnership wins) from the awards categories, which were presented by awards compere Eshaan Akbar. The Credit & Collections Industry Awards were…
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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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