Credit, Collections & Insolvency News
Following last week’s Bank of England decision to hold interest rates at 3.75%, many homeowners may be breathing a sigh of relief. But after a year of stubborn inflation and global instability keeping borrowing costs higher for longer, those nearing the end of cheaper fixed-rate deals are still facing a sharp jump in monthly outgoings…
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The Finance & Leasing Association (FLA) has welcomed the Financial Conduct Authority’s (FCA) market study into claims management services, while encouraging the regulator to take early action in areas where evidence of consumer and market harm is already well understood. The FLA said the review represents an important opportunity to improve outcomes for consumers and…
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PayPoint has announced it has completed the acquisition of AperiData, strengthening its capabilities in Open Banking for customers. AperiData is a real-time credit reference agency and Open Banking platform, focused on modernising the consumer credit market through the use of transaction-level data and advanced financial assessment tools. Since first partnering in 2023, PayPoint and AperiData…
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Quint Group, the award-winning fintech group focused on credit & payments, has announced the appointment of long-term fintech leader Laurence Krieger as Director. Formerly CEO of Tide and COO at Revolut, Krieger will now formally join Quint Group to work in close partnership with founder and CEO Greg Cox and the rest of the board…
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Latest Resolution Foundation analysis has shown that today’s 24-year-olds earn more than any previous cohort since the 1950s. The data shows that their average weekly pay is 12% higher than peers born in the late 1980s. That is positive for many young workers, despite concerns about student debt and job opportunities. There has been widespread…
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The number of pure interest-only homeowner mortgages outstanding fell by 17.7% in 2025 to 445,000, according to latest figures from UK Finance. In addition, there were 156,000 partial interest-only (part and part) homeowner mortgages outstanding at the end of 2025, 10.3 per cent fewer than in 2024. The total interest-only mortgage stock (including part and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 3% in April 2026 compared with the same month in 2025. The corresponding value of new business was 9% higher over the same period. In the first four months of 2026, new business volumes grew…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 3% in April 2026 compared with the same month in 2025. In the first four months of 2026, new business in this market was 5% higher than in the same period in 2025. The credit card and…
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Chetwood Bank has announced the launch of its Wholesale Banking division with the appointment of Alex Grove as Managing Director of Wholesale Banking, Toby Sharp FRICS as Director of Commercial Real Estate and Nirvan Sunderam as Managing Director of Wholesale Risk. Through the Wholesale Banking division, Chetwood Bank provides tailored funding solutions to corporate, institutional…
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New data from Standard Life has found that nearly a quarter (23%) of Gen Z adults say they’re not focused on saving for retirement because they expect to inherit money or property The datas showed rge nearly one in four (23%) Gen Z (born between 1997 and 2012) say they are not prioritising retirement saving…
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New data from Updraft has suggested that the average person in the UK has £1,400 in credit card debt in 2026, and will pay £342 on interest this year alone – yet 82% haven’t consolidated their debt. The new figures, based on an analysis of Bank of England and ONS data, show that the average…
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Latest data from UK Finance has shown that 48.% of credit card balances incurred interest in March 2026 compared to 48.6 per cent in March 2025. Credit card transactions increased year-on-year by 8.6%, and the total spend rose to £23.8 billion. There were 419 million credit card transactions in March, 8.6 per cent more than…
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Income and employment specialist, Teal has announced a partnership with global accountancy, HR, payroll, and education software specialist IRIS Software Group. The integration brings IRIS into Teal’s growing Direct Connections network, delivering enterprise- grade, real-time background verification of income and employment for millions of UK employees. The partnership marks a significant validation of Teal’s platform, with IRIS…
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