Credit, Collections & Insolvency News
New research from TransUnion UK has revealed that over eight million people are using Buy Now Pay Later (BNPL) for items under £50, whilst 4% put purchases under £25 on this short-term credit. Over a quarter (26%) of people now prefer to use BNPL over credit cards for everyday spending, with 18 to 24-year-olds (20%)…
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Barclays UK has announced that it has appointed Roland McCormack as its Head of Mortgage Intermediaries. The newly created role is a senior leadership position that reflects the bank’s broker-first approach and its continued commitment to the intermediary market. As Head of Mortgage Intermediaries, McCormack will be responsible for leading Barclays’ intermediary channel strategy, delivering…
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A criminal has been sentenced at Inner London Crown Court to over a year in prison for operating a SMS Blaster to conduct a mass smishing campaign against victims with the intent to harvest their personal details to be used in fraud. The sentencing follows an investigation and arrest by the Dedicated Card and Payment…
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The Financial Conduct Authority (FCA) has released a discussion paper on mortgage market rules to help boost home ownership. The FCA says that first-time buyers, the self-employed and people borrowing into retirement could benefit from further possible changes to mortgage rules. The regulator says that the mortgage market has changed considerably over the years. First-time…
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Tandem Bank has announced that it has appointed Neil Chandler as its new Chief Executive Officer (CEO), subject to regulatory approvals. Chandler brings a wealth of leadership, banking and tech experience to Tandem, spending more than 30 years in senior banking, eCommerce, retailer finance and technology roles. He most recently served as CEO of digital…
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One in two (50%) consumers have reported a fraud attempt had been made against them in the last three months, with many even reporting to falling victim according to new research by TransUnion. The survey found that 14% of UK respondents reported they had lost money to fraud in the last year alone, through various…
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Consumer confidence has seen a slight increase, with GfK’s consumer confidence index rising by two points in June. The index remains in negative territory at minus 18, four points lower than last year. Confidence among UK consumers has improved but remains fragile in the face of expected petrol price rises amid escalating conflict in the Middle…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.25%. The Bank of England has held interest rates at 4.25%. The Monetary Policy Committee (MPC) voted 6:3 for the hold, with three members voting for a cut. Commenting on the latest decision, John Phillips, CEO of Just Mortgages and…
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UK Finance has released a new report on the progress made by banks following the introduction of the Disability Finance Code for Entrepreneurship (DFCE) in December 2024, which aims to improve the entrepreneurial landscape for disabled individuals. The Code sets out several commitments that signatories must make to further widen opportunities for disabled entrepreneurs, including…
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New research by Aviva has found that the number of people with a partner, that nearly half (47%) keep financial secrets, with more than £6,000 on average per person stashed away in secret accounts. This is despite almost half (45%) believing they ‘know everything’ about their partner’s finances. Of those who have secret accounts, the…
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Latest ONS data has shown that the average cost of monthly private rents increased by 7%, to £1,339, in the 12 months to May 2025 (provisional estimate); this annual growth rate is down from 7.4% in the 12 months to April 2025. The data showed that average rents increased to £1,394 (7.1%) in England, £799…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in April 2025 by 1% compared with the same month in 2024. In the first four months of 2025, new business in this market was 4% higher than in the same period in 2024. The credit card and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in April 2025 by 5% compared with the same month in 2024. The corresponding value of new business fell by 2% over the same period. In the first four months of 2025, new business was 1%…
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