Credit, Collections & Insolvency News
New research by Confused.com has found that 66% currently give their child regular pocket money. A further 8% have done so in the past and 19% plan to start in the future. Among parents who currently give or previously gave pocket money and provided an amount, the most common weekly payment is £5 to £9.99…
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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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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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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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Parents are taking different approaches to managing back-to-school costs, with 22% planning to use a credit card, 16% of parents planning to use Buy Now, Pay Later (BNPL) to cover back-to-school costs, and 19% saying they have cut back on other spending to afford the return to school, new research from Compare the Market has…
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Yorkshire Building Society (YBS) has announced that it has appointed Amanda Bryden as Director of Distribution and Incoming Managing Director of Accord Mortgages. Bryden brings more than 25 years of mortgage and intermediary leadership experience, most recently with Lloyds Banking Group. She has also held senior roles at HSBC, Santander and Coventry Building Society. Jeremy…
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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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Outsourcer and software provider Target Group has announced the appointment of Paul Lynam as a Non-Executive Director. Lynam brings more than 35 years of leadership experience across the banking and financial services sector. He has held several senior executive and board positions, including serving as Chief Executive Officer of Equiniti Group and Secure Trust Bank.…
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Latest data analysis by FICO has shown that average credit card spending increased by 5.6% to £835 in June. The average active balance increased 1.4% to a record £1,975, marking a 4.7% increase on a year earlier, while the proportion of balances repaid fell 2.4% month-on-month to 33.3%, with this 4.4% below June 2025. Missed…
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Consumer confidence in the UK has reached its highest level for two years, according to GfK. The sentiment index rose two points to -14, marking an 11-point increase since April. The report shows that households are more optimistic about the economy and more willing to make major purchases. Savings intentions also fell, suggesting consumers may…
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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 UK is increasingly embracing digital payments, with 91% of adults using online, mobile, or telephone banking in 2025, up from 88% in 2024, according to UK Finance’s Payment Markets Report. The analysis shows that mobile banking is the preferred method for 75% of adults. Cards and digital payments continue to dominate consumer spending. Debit…
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