Credit, Collections & Insolvency News
New findings from Pepper Money that that over half (51%) of UK adults are now aware of secured lending as an avenue to raise capital. This figure rises to 54% amongst homeowners who may be considering ways to borrow without interrupting their favourable, primary mortgage rate. The latest data marks a notable rise from previous…
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Chorley Building Society has announced it has completed the phase-in of LendingMetrics’ Auto Decision Platform (ADP) and is now fully on stream. The Society chose LendingMetrics’ ADP after considering a range of alternatives. Key factors determining the selection were ADP’s ability to deliver a sophisticated semi-automated customer assessment in milliseconds, reducing the level of manual…
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New research from The Current Account Switch Service has revealed that one in four (24%) UK adults have less than £250 in their current account. The data also shows a decline in those with higher balances in their current accounts, with a 15% decrease of those with over £2,500 since 2021. A vast majority of…
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Consumers are increasingly using credit to pay for insurance cover and switching to monthly payments for car and home insurance to manage their bills, new research from Premium Credit shows has found. Premium Credit’s Insurance Index, now in its sixth year, found that 76% of insurance customers use some form of credit to pay for…
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Global business and technology leaders are already seeing benefits from the use of AI and automation, with over three-quarters (78%) reporting measurable improvements in the ability to detect fraud and manage risk after their organisation’s integration of the technology, according to research by FIS in collaboration with Oxford Economics. To combat this disharmony, businesses across…
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Latest Financial Conduct Authority (FCA research has found that one in ten people lack any cash savings, raising concerns about their ability to manage emergency expenses. The data showed that 21% have less than £1,000 to draw on in an emergency. The regulator’s research also shows that one in four people in the UK have…
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More than one in three people (36%) do not have a rainy day fund, according to new research from Compare the Market. This includes more than half (52%) of Gen Z, or people aged between 16 to 28. A rainy day fund is money that you have saved to cover unexpected financial emergencies, such as…
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Latest Barclays property insight data has shown that rent and mortgage spending increased 5.2 per cent year-on-year in April, down slightly from 5.4 per cent in March, as many lenders reduced mortgage rates. Confidence in household finances remained consistent month-on-month at 70 per cent, while many UK homeowners are taking prudent steps to decrease their…
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New analysis from UK Finance has warned that increasing reliance on family support from the Bank of Mum and Dad risks deepening inequalities in the housing market, highlighting the impact of family financial support in the first-time buyer (FTB) market. Nationally, first-time buyers who receive assistance are able to buy a home at an average…
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Consumer confidence in the future of the UK economy has plummeted to the lowest levels seen since the height of the cost of living crisis due to concerns about global events such as the impact of the US tariffs and war in Ukraine, according to the Which? Consumer Insight Tracker. According to the tracker, consumer…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in March 2025 by 11% compared with the same month in 2024. The corresponding value of new business grew by 18% over the same period. In Q1 2025, new business was 3% higher by volume compared…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in March 2025 by 13% compared with the same month in 2024. In Q1 2025, new business in this market was 6% higher than in Q1 2024. The credit card and personal loans sectors together reported new business…
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New research by Compare the Market has found that 937,433 homeowners who took out mortgages in 2023 could benefit from a decline in monthly payments as they come off two-year fixed rate deals that had an average interest rate of 5.06%, according to their analysis based on a Freedom of Information request to the Financial…
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