Credit, Collections & Insolvency News
New data from Premium Credit has shown that 44% of insurance customers are using credit or are reliant on finance from insurers and premium finance companies. The research showed that nearly six out of ten (57%) consumers use some form of credit to pay for one or more policies they have.. Whilst 44 per cent of…
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Afin Bank has announced it has appointed two new Senior Business Development Managers (BDMs) as the specialist lender focusses on growing its sales team in 2026. Debbie Lavender joins Afin from PWM (Partners Wealth Management), where she was a specialist mortgage broker, and will look after the Midlands and the North. John Smith joins from…
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Financial confusion and overwhelm are quietly draining the wallets of millions of people, costing them hundreds of pounds annually. On average, people lost over £640 in the past year alone because they delayed major financial decisions, according to new research from financial education charity Money Ready. Left unchecked, these annual losses can add up: over £3,000…
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Latest credit card analysis by Fico has revealed that pre-Christmas spending and average active balances fell, whilst average balances for missed accounts remain high, reflecting continued financial pressure. The October 2025 data showed a decline in credit card spending compared with the previous month and the previous year. Lower spending led to average balances falling…
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Cred, the next-generation credit app, has announced the appointment of Matt Trueman as its new Chief Executive Officer, effective immediately, pending FCA approval. J Trueman joins from credit management consultancy Arum. He brings over two decades of leadership experience in financial services, with extensive knowledge in technology deployment, and a wealth of expertise in scaling credit…
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New data from Pure Cremation has revealed that the average traditional funeral now costs £4,562. A cremation funeral typically comes in at £4,232, while an average burial funeral reaches £6,065, with prices vary dramatically depending on location. According to the data, Wales is the cheapest place to die, with a traditional funeral averaging £4,136. In…
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Latest Bank of England data showed that net borrowing of mortgage debt by individuals increased to £4.5 billion in November, following a decrease of £1.0 billion to £4.2 billion in October. Mortgage approvals for house purchase fell by 500 to 64,500. By contrast, approvals for remortgaging rose by 3,200 to 36,600 in November. Approvals for…
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Household spending in the UK decreased by 0.2% in 2025, marking the first decline since 2020, according to Barclays. Families are cutting back on essentials, including groceries. The figures fell after growing 1.6 per cent in 2024 and 4.1 per cent in 2023. In a year marked by careful and considered budgeting, confidence in household…
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Barclays’ latest Property Insights report reveals that the influence of the ‘Bank of Mum and Dad’ now extends well beyond first-time buyers, playing a pivotal role for ‘second steppers’. For renters, deposits remain a challenge, but they are less deterred by the cost of mortgages. Meanwhile, consumer confidence showed modest signs of recovery following the…
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The Financial Conduct Authority (FCA) has opened an enforcement investigation into The Claims Protection Agency Limited (TCPA) following concerns about its advertising and sales tactics in relation to potential motor finance claims. The FCA is investigating what customers were told about the amount of redress they might obtain, whether they were told they could make…
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New research from Aegon has revealed that most people value time with loved ones over expensive gifts this Christmas, as the cost-of-living crisis reshapes festive traditions. The survey found that 57% of people say spending time with loved ones matters most, while only 9% prioritise gifts. The average total spend in the UK on Christmas…
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New data from Hargreaves Lansdown has found thousands tackle their finances on Christmas Day, with the company finding that more than 100,000 of their clients logged into the financial planning app on Christmas Day last year. The busiest time was 8am – an hour earlier than previous Christmases. Last year, Christmas Eve saw almost three…
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London Capital Credit Union has announced the appointment of Gurminder Singh Bhagrath as its new Chief Executive Officer. Bhagrath takes over from Martin Groombridge, who led London Capital Credit Union for almost 18 years. Commenting on his appointment, Bhagrath said “As I step into the role of CEO at London Capital Credit Union, I want…
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