Credit, Collections & Insolvency News
The Bank of England has announced that it has held interest rates at 3.75% with the Monetary Policy Committee (MPC) voting unanimously to keep interest rates on hold. The Bank says that a “shock to the economy” sparked by the war in the Middle East could push inflation as high as 3.5% later this yeart,…
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New research from Compare the Market suggests there is still some uncertainty around how credit cards factor into mortgage applications, with 21% of prospective first-time buyers believing they need to be completely debt-free to be approved for a mortgage1 The survey findings indicate that around one in ten prospective first-time buyers believe they must never…
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New figures released by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided a record £162.8 billion of new lending in 2025, 5% higher than in 2024. Of this total £40.3 billion was provided to businesses for investment in machinery, equipment, and vehicles,…
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First-time buyers who benefitted from the Bank of Mum and Dad are staying closer to home to appease their parents, and in some cases falling out with friends, due to the help they have received, according to the latest Compare the Market research. Nearly two-thirds (62%) of homeowners under the age of 35 who bought…
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Latest figures from the Bank of England show net mortgage approvals for house purchases fell to 60,000 from 61,000 in December, the fourth consecutive monthly drop and the lowest figure since January 2024. The decline follows uncertainty surrounding the November Budget. Remortgaging approvals also decreased slightly to 38,100, from 38,400 in December. Net borrowing of…
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Latest UK Finance data has shown that mortgage lending grew strongly in 2025, rising by over 16 per cent to its highest level since 2021. Overall, 2025 was a year of growth for the mortgage market. The number of mortgages for house purchase grew by 16.3 per cent to reach 720,000 loans, the highest number…
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UK Finance has released its latest data on the later life mortgage showing that lending increased by 15.1% in Quarter 4 (Q4). The data showed that 41,400 new loans advanced to borrowers over 55 in Q4 2025. £810 million pounds of lending was to leant borrowers aged 65 to 70, up a huge 26.56%. A…
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February is on track to record the highest number of new home listings in a decade, according to Zoopla’s latest House Price Index. Combined with falling mortgage rates, the market is currently looking particularly good for first time buyers, with 40% of homes for sale now cheaper to buy with a mortgage than rent. Reflecting…
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The latest EY ITEM Club data has forecasted that consumer credit lending growth will remain largely flat at 5.8% in 2026 (from 6.1% in 2025), 5.7% in 2027, and 5.3% in 2028. Even though consumer credit remains expensive, demand is expected to remain steady over the coming years. This is largely due to a combination…
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New research from the Building Societies Association (BSA) shows that many aspiring first-time buyers could be closer to owning their own home than they think, but too many are ruling themselves out before exploring what is possible. The findings show that almost half (47%) of people who want to buy their own home have never…
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The Bank of England has announced that it has held interest rates at 3.75% following the first meeting of its Monetary Policy Committee of 2026. The Bank has voted by 5 to 4 to keep rates on hold at 3.75%. Four members voted to reduce the base rate to 3.5%, giving an indication of forward guidance. Commenting…
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Almost four in ten landlords plan to refinance buy-to-let property during the next 12 months, Paragon Bank research has revealed. The research, which covers Q4 2025, found that 39% intend to refinance throughout 2026, a figure that unsurprisingly increases in line with portfolio size. Over half (53%) of those with four or more buy-to-let mortgages…
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Latest data from the Bank of England data has shown that net mortgage approvals for house purchase fell by 3,100 to 61,000 in December 2025. By contrast, approvals for remortgaging rose by 1,600 to 38,400 in December. Net borrowing of mortgage debt by individuals remained unchanged when compared to November at £4.6 billion in December. The…
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