Credit, Collections & Insolvency News
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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Consumer confidence increased this month, defying expectations, with the GfK index rising to minus 23, despite economic concerns affecting lower-income households’ purchasing intentions. Four measures were up and one was down, compared to last month’s announcement. Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said “Consumers appear to be in a more generous mood…
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Around one in seven consumer insurance customers surveyed either decided against buying insurance or cancelled certain types of cover in the past year, new research from Premium Credit. The research found that 15% of consumers in the past year have cancelled or decided against cover, up from 11% in last year’s Insurance Index. Despite cancelling…
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The Government has announced that it will modernise the Consumer Credit Act (CCA) for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate. The Government says that consumers who take out loans, credit cards or overdrafts are expected to benefit from clearer information about costs and key…
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Afin Bank has announced that it has appointed Beth Jeffs as Head of Product and Proposition. Jeffs joins from the Nottingham Building Society, where she was Senior Mortgage Propositions Manager. She has previously held roles at providers including HSBC, Coventry Building Society and Sainsbury’s Bank in product and credit risk areas. She will oversee the…
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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 car finance new business volumes grew by 8% in March 2026 compared with the same month in 2025. The corresponding value of new business was 11% higher over the same period. In Q1 2026, new business volumes grew by 4% compared Q1…
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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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Dudley Building Society has announced the appointment of Helen Smith as Chief Growth Officer, as part of its ongoing focus on growing the Society, strengthening customer outcomes, supporting its communities, and developing its people. Smith joined the Society in April and brings extensive board-level experience across financial services, insurance, healthcare and funeral care. She has…
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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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The Financial Conduct Authority (FCA) is preparing for potential legal challenges regarding the motor finance scheme. It has received four legal challenges from lenders, including Volkswagen Financial Services and Mercedes-Benz Financial Services. The FCA says that its priorities remain to secure fair compensation for consumers as quickly as possible and ensure a healthy motor finance…
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UK Finance has published Plan for Growth: From Strategy to Delivery, a new report outlining a practical roadmap for how the financial services sector can help deliver the government’s economic growth ambitions. The Government’s strategies to grow the economy – spanning industrial renewal, infrastructure, housing, SMEs, trade and financial inclusion – all depend on a…
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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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