Credit, Collections & Insolvency News
Latest data from UK Finance has found that residential and buy-to-let mortgage arrears and possessions fell in Q2 2026. A total of 1,150 homeowner mortgaged properties were taken into possession, an 8% fall from the previous quarter and a 14% decrease compared with the same period a year earlier. There were 630 buy-to-let mortgaged properties…
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Hampshire Trust Bank (HTB) has appointed Ashling Quinn as Lending Director within its Development Finance team, where she will support brokers and SME developers across the Midlands. Reporting to Rob Syrett, Head of Originations, Development Finance, Quinn brings more than a decade of banking experience, including seven years specialising in development finance. Quinn joins from Paragon…
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Economic growth in the UK slowed during the second quarter from April to June, as the effects of the Iran war began to show, according to the Office for National Statistics (ONS). Gross Domestic Product (GDP), a measure of everything produced in the economy, grew by 0.4 per cent, down from 0.6 per cent in…
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Latest analysis by Hargreaves Lansdown (HL) has found that two-thirds of people admit they will rely on the state pension ‘to some extent’ in retirement. Almost one-in-ten say they will be totally dependent on the benefit. Almost one in five say they will be heavily reliant on it, whilst 14% of people say they are unsure. Women…
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Despite growing up in one of the most connected generations, many young adults are keeping their finances firmly behind closed door. The research by Skipton Building Society found that four in ten (40 per cent) Gen Z don’t want to reveal how much they spend, earn or save with others. This ranges from talking about…
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Latest British Retail Consortium data has shown that consumer demand slowed in the summer heat wave. Total retail sales increased by 1.3% year on year in July, against a growth of 2.5% in July 2025. This was below the 12-month average growth of 1.8%. Food sales increased by 3.8% year on year in July, against…
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Consumer confidence in the UK reached its highest level in 21 months in July, according to Barclays’ survey. About 30% of respondents expressed optimism about the economy, a 6% increase from June. Consumer card spending was up 2per cent, with discretionary spending also up 1.6 per cent. The new data follows a 1.9 per cent…
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Research by Dun & Bradstreet has found that the UK’s largest businesses are the country’s worst payers, as insolvencies remain at their highest sustained level since the financial crisis The data showed that the largest businesses pay suppliers on time on fewer than one in seven occasions. Businesses employing more than 1,000 people paid suppliers…
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Prime Minister Andy Burnham has outlined a series of measures to tackle the cost-of-living challenges. The plan includes a ban on fake discounts and making it easier for people to opt out of unwanted subscriptions. Responding to the plans, Dame Clare Moriarty, Chief Executive of Citizens Advice, said “For too long consumers have been tricked…
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Almost a fifth (18 per cent) of UK adults do not have or cannot identify a long-term financial goal, new research from Scottish Friendly has found. Nearly one in five people surveyed told the mutual they did not know what they wanted their finances to achieve over the next five years or more, according to…
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A targeted energy discount scheme could save eligible households £175 and soften the impact of any further gas price shocks this winter. But the Government will need to act fast to have a scheme ready by January 2027, the Resolution Foundation warned. Despite the Prime Minister’s welcome day-one VAT cut on electricity bills, further escalation…
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A second-hand car dealer has been ordered to repay the Covid funds he fraudulently secured in full. Javed Akhtar was handed a confiscation order of £66,917 when he appeared at Bradford Crown Court. Akhtar must repay all the money within three months. If he fails to do so, he could face six months in prison…
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Three in ten small business owners (31%) say they are already using AI to support their enterprises – although 27% say they either have no plans to use it – and a further 21% don’t regard AI as relevant to their business, according to new research from Novuna Business Finance. Whilst some small businesses see…
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