Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell 1% in January 2026 compared with the same month in 2025. The corresponding value of new business was 3% higher over the same period. In the twelve months to January 2026, new business volumes grew by…
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Latest FICO analysis of credit card data for January 2026 shows a post-Christmas reduction in spending as customers prioritised payments after the festive break. However, with spending lower year-on-year and increases in missed payments, the financial pressures that were a feature of the UK economy for the majority of 2025 have continued into the new…
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The number of Africans applying for, or planning to apply for a UK mortgage is falling as foreign nationals continue to struggle to navigate the UK home loan system, according to research by Afin Bank. The research by the specialist lender found that 38% had a mortgage in 2026, compared with 48% in 2025 and…
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The Bank of England has announced that it has held interest rates at 3.75% with the Monetary Policy Committee (MPC) voting unanimously to keep interest rates on hold. The Bank says that a “shock to the economy” sparked by the war in the Middle East could push inflation as high as 3.5% later this yeart,…
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New research from The Social Market Foundation has warned that many workers may face a ‘pension shock’ in the coming decade, as they realise their retirement income is likely to be significantly lower than expected. Gen X (those born between 1965 and 1980) fall in the gap between the two pension systems. Many were too…
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New TSB data shows a series of recent scams in which criminals use social media to lure people into online friendships, then extract money ranging into the tens of thousands. TSB’s fraud expert, Stephanie Harrison, warns that ‘friendship fraud’ mirrors romance scams in its approach – with fraudsters building trust and rapport before demanding money.…
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Plans to reform the Financial Ombudsman Service (FOS) have been revealed by the Government. The reforms will return the FOS to its original role as a simple, impartial dispute resolution service that resolves complaints quickly and effectively, while ensuring it operates within a clearer and more predictable framework alongside the Financial Conduct Authority (FCA). The…
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Oakbrook has announed a new partnership with payments automation platform Modulr. The partnership will enable the lender to expand its repayment choices for customers and strengthening its technology-enabled servicing platform with the launch of Variable Recurring Payments (VRPs). The introduction of VRPs gives customers an additional way to manage their loan account repayments alongside Direct…
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A new analysis of its credit card data for 2025 by global analytics software specialist FICO has found a fundamental shift in market dynamics from traditional cyclical patterns to clearer management of affordability challenges. The year was characterised by consumers struggling to manage existing debt levels, with average balances reaching record highs while payment rates fell. The…
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Fraud prevention service, Cifas has revealed that more than 444,000 cases were recorded to the National Fraud Database (NFD) in 2025, the highest number ever recorded in a single year, and a 6% increase on 2024. The scale of fraud continues to accelerate, with Cifas members recording more than 1,200 cases every day and preventing…
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New research from Compare the Market suggests there is still some uncertainty around how credit cards factor into mortgage applications, with 21% of prospective first-time buyers believing they need to be completely debt-free to be approved for a mortgage1 The survey findings indicate that around one in ten prospective first-time buyers believe they must never…
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A man has been jailed for running an illegal sale-and-rent-back scheme targeting struggling homeowners. Rajinder Gill and his accomplices were sentenced for their involvement in a sale-and-rent-back scheme. Gill has been sentenced to two and a half years in prison for running a sale-and-rent-back scheme without being authorised and illegally providing credit agreements and mortgages.…
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Revolut Bank UK has announced that it has received regulatory approval from the Prudential Regulation Authority (PRA) to exit the mobilisation phase, and launch as a bank in the UK. The launch comes with an existing base of 13 million UK customers and follows Revolut’s recent commitment to invest £3bn ($4bn) and create 1,000 high-skilled…
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