Credit, Collections & Insolvency News
Consumer confidence in the UK has reached its highest level for two years, according to GfK. The sentiment index rose two points to -14, marking an 11-point increase since April. The report shows that households are more optimistic about the economy and more willing to make major purchases. Savings intentions also fell, suggesting consumers may…
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Energy bills are forecast to rise by 4% from October, according to Cornwall Insight’s final forecast for the Default Tariff Cap (price cap). On a unit-for-unit basis, this would see bills rise to their highest level since July 2023. Under Ofgem’s new definition of a typical consumer introduced in July 2026, the annual cap is…
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Consumer confidence has risen, with the British Retail Consortium (BRC) reporting an eight-point increase in its index to -28 in August. Gen Z showed the most optimism, anticipating improved finances and increased spending. According to BRC-Opinium data, consumer expectations over the next three months of the state of the economy improved to -28 in August, up from -36 in…
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Families could be spending over £15,500 on hidden costs including school clubs, uniforms and trips over a child’s school career, according to new Nationwide research. School clubs account for the biggest share of that cost, with parents spending an average of £700 each year on clubs and associated costs, almost twice as much as uniform…
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Many aspiring homeowners could be delaying their plans to get on the property ladder because they mistakenly believe they wouldn’t qualify for a mortgage, new research from Lloyds suggests. The study of more than 1,000 prospective first-time buyers found widespread confusion about what could prevent someone from getting a mortgage. More than half (58%) incorrectly…
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The UK is increasingly embracing digital payments, with 91% of adults using online, mobile, or telephone banking in 2025, up from 88% in 2024, according to UK Finance’s Payment Markets Report. The analysis shows that mobile banking is the preferred method for 75% of adults. Cards and digital payments continue to dominate consumer spending. Debit…
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UK inflation hit 2.9 per cent in July, up from 2.6 per cent in June, according to the latest data from the Office for National Statistics (ONS). This was the first rise in the annual rate of inflation since March. The increase was mainly driven by an increase in the energy price cap. Commenting on the inflation…
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Latest data from The Insolvency Service has shown that the construction industry experienced the highest number of insolvencies in the 12 months to June 2026 at 3,841, making up 17% of all industry cases. Carly Thorpe, Construction & Engineering Partner at Walker Morris, said: “The latest insolvency figures reflect the continued pressures facing the construction…
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Prime Minister (PM) Andy Burnham’s early cost-of-living measures may have given households some immediate relief. Still, nearly two-thirds of UK consumers (63%) are concerned that the Government’s recently announced policies could ultimately leave their household worse off, according to new research from Novuna Personal Finance. The findings come after the Government decided to remove VAT…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales was 1,931 in July 2026, 5% higher than in June 2026 (1,847) but 5% lower than the same month in the previous year (2,031 in July 2025). The business insolvencies in July 2026 consisted of 288 compulsory liquidations,…
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Latest monthly figures from the Insolvency Service for England & Wales showed that personal insolvencies remained broadly stable in July 2026 compared to the previous month, with 11,926 people entering insolvency compared to 11,934 in June. Personal insolvencies were 14% higher when compared to July 2025, when the figure was 10,454. The insolvencies consisted of…
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Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland fell in July 2026. The data showed that there were 83 business insolvencies registered in Scotland, 28% lower than the number in July 2025. The total number of business insolvencies comprised 46 CVLs, 31 compulsory liquidations and six administrations. There…
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Latest data from the Insolvency Service has shown that business and personal insolvencies in Northern Ireland increased in July 2026. The data showed that there were 169 personal insolvencies in Northern Ireland. This was 10% higher than in July 2025. The insolvencies comprised of 137 IVAs, 15 bankruptcies and 17 DROs. There were 16 business insolvencies,…
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