Credit, Collections & Insolvency News
A student from Northwest London has been sentenced at Southwark Crown Court to seven years in prison for the creation and selling of phishing kits, designed to help fraudsters steal money from victims. The sentencing follows investigation and arrest by specialist banking industry sponsored police unit, the Dedicated Card and Payment Crime Unit (DCPCU) who received…
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Over a third (35%) of bank customers do not feel valued by their bank, according to Which? research. The consumer champion’s survey in May of 13,660 members of its Connect Panel found that many people had noticed services being removed over the past two years. The most common issues raised included the loss of paper…
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Chetwood Bank has announced the appointment of Rob Pomphrett as Non-Executive Director (NED). Pomphrett brings over 30 years of extensive experience in the banking and financial markets sector, where he specialised in trading risk and leading global teams across credit, interest rates and government bonds, and structured products During a long and successful career, Rob…
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Latest quarterly data from UK Finance for Quarter 1 (Q1) has found that there were 58,347 new buy-to-let loans advanced in the UK, worth £10.5 billion. This was up 38.6 per cent by number (46.8 per cent by value) compared with the same quarter in the previous year. The average gross buy-to-let rental yield for…
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New analysis by HSBC has found that 78 per cent of mortgage brokers have noticed a rise in the amount of lending agreed for their clients. The poll shows that 93% of the brokers surveyed said that it is important for their clients to increase their borrowing power. Nearly two-thirds (63 per cent) of brokers…
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A new survey from the UK’s leading credit-building business, Loqbox, has revealed that people in the UK are struggling to understand how credit works and what it means for their everyday lives. At a time when the average credit score in the UK is 644 on the Equifax scale and an estimated one in ten…
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Momenta Finance has announced the appointment of Tim Boag as Chief Executive Officer, effective 1st September 2025. Boag brings with him more than 35 years’ experience in financial services. His career spans major UK banking institutions and specialist lenders, equipping him with a unique perspective to lead Momenta Finance into its next phase. Most recently,…
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New research by the Financial Conduct Authority (FCA) has revealed that while rising motor insurance premiums are largely driven by external cost pressures, shortcomings persist in how some insurers handle claims. FCA analysis shows that increases in the cost of motor claims – due to higher prices for cars, parts, labour, energy and more complex…
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NatWest has helped launch a transformative initiative aimed at driving inclusion, which is also being backed by Nikki King CBE, with business leaders, educators, innovators, and changemakers from across the country coming together to mark the beginning of the Future Talent Alliance. The programme aims to bridge the gap between businesses and schools, taking a…
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Consumer confidence in the UK has reached its lowest point in over a year, primarily due to Labour’s tax increases, which have led to rising prices and job losses. According to Deloitte’s index, household confidence has not been this low since early 2024, coinciding with a four-year high in unemployment at 4.7% and inflation rising…
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The Financial Conduct Authority (FCA) has published a package of reforms to the mortgage market rules to support borrowers to find it easier to remortgage, saving time and money. The FCA says that under the new changes, borrowers will find it easier to reduce their mortgage term, helping to lower the total cost of borrowing…
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The average cost of driving for young motorists, aged under 25, has fallen by £678 in the past year, according to the latest research from Compare the Market. The decline in the cost of driving is mainly due to a drop in the average car insurance premium, which decreased to £1,437 in March 2025, compared…
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Consumer lender Fluro has announced that it has appointed two new Non-Executive Directors to its board. David Kenmir joins the board as Chair. Having spent more than a decade at the Financial Services Authority – the precursor to the FCA – including five years as a member of its board, Executive Committee and Regulatory Policy…
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