Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 7% in June 2026 compared with the same month in 2025. The corresponding value of new business was 11% higher over the same period. In the first half of 2026, new business volumes grew by…
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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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New research from Close Brothers Motor Finance (CBMF) reveals that AI has transitioned into a mainstream operational tool for motor traders. Nearly two-thirds (65%) of UK motor dealerships are already actively using AI tools in their business today, with a further third (32%) planning to introduce them in the future. Among dealerships utilising or planning…
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Almost one in three first-time buyers were considering variable and tracker mortgages in July as higher fixed rates push homebuyers to rethink how they finance their first home, new Moneyfactscompare.co.uk analysis. In July, 31.3% of first-time buyers (FTBs) researching mortgages on Moneyfactscompare.co.uk were considering variable or tracker mortgages, compared with just 9.5% in February. The…
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Blue Motor Finance Limited (BMFL) has been placed into administration. Simon Edel, Richard Barker and Alan Michael Hudson of Ernst & Young LLP have been appointed as joint administrators. BMFL operated as a motor finance lender; the firm had been running at a loss for several years and faced significant compensation liabilities it could not…
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The Information Commissioner’s Office (ICO) has executed search warrants across the UK as it cracks down on suspected nuisance marketing linked to car finance mis-selling claims as part of the joint regulatory taskforce. More than 12 million complaints about nuisance marketing text messages have been submitted by the public since September 2025, with up to…
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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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Millions of car finance customers who may be owed compensation can get help making a complaint for free, as the Financial Conduct Authority (FCA) launches a new national advertising campaign. Research by the FCA found that 27% of car finance customers lack confidence to make a complaint without using a claims management company (CMC) or law firm, despite free tools from…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 1% in May 2026 compared with the same month in 2025. The corresponding value of new business was 5% higher over the same period. In the first five months of 2026, new business volumes grew…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in May 2026 was at a similar level to May 2025. In the first five months of 2026, new business in this market was 4% higher than in the same period in 2025. The credit card and personal loans…
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As part of the joint taskforce’s continued crackdown, in June the Financial Conduct Authority (FCA) had 170 misleading car finance claims adverts removed or amended by claims management companies (CMCs), bringing the total up to 1,200 since January 2024. Some of the misleading adverts seen by the FCA were disguised as a consumer posting on social media recommending…
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The Financial Conduct Authority (FCA) has been forced to suspend parts of its £9.1 billion car finance compensation scheme, delaying payouts for millions of motorists. The scheme aimed to compensate drivers overcharged for loans due to commission payments between lenders and car dealers from 2007 to 2024. A hearing is set for December or February,…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 3% in April 2026 compared with the same month in 2025. The corresponding value of new business was 9% higher over the same period. In the first four months of 2026, new business volumes grew…
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