Credit, Collections & Insolvency News
The UK is set for a decent but one-off increase in living standards this year, and a bumper rise for lower-income families. But a fresh energy price shock risks ruining this good news, while the medium-term picture for living standards remains bleak, according to the Resolution Foundation’s overnight analysis of the Spring Forecast 2026. With…
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The Financial Conduct Authority (FCA) has announced that it is likely to make several changes to the proposed compensation scheme after receiving more than 1,000 responses to its consultation on the plans. The FCA said that final decisions on the scheme have not yet been made. Given the scale and complexity of the scheme, there…
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The Chancellor, Rachel Reeves, has delivered her Spring Statement outlining the Government’s economic plans. The data showed public sector net borrowing set to fall from 4.3% this year, decreasing to 1.8% in 2029–30. The Office for Budget Responsibility lowers growth forecasts to 1.1% for 2026 but upgrades the outlook in 2027 and 2028 to 1.6%.…
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A director of a construction company has narrowly avoided jail after admitting to exaggerating his company’s turnover to claim £150,000 via three Covid Bounce Back Loans. An Insolvency Service investigation found that Adebanjo Adebayo Talabi was the director of Bebo Construction Limited when he applied for three loans, between August and November 2020, from three…
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First-time buyers who benefitted from the Bank of Mum and Dad are staying closer to home to appease their parents, and in some cases falling out with friends, due to the help they have received, according to the latest Compare the Market research. Nearly two-thirds (62%) of homeowners under the age of 35 who bought…
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Latest figures from the Bank of England show net mortgage approvals for house purchases fell to 60,000 from 61,000 in December, the fourth consecutive monthly drop and the lowest figure since January 2024. The decline follows uncertainty surrounding the November Budget. Remortgaging approvals also decreased slightly to 38,100, from 38,400 in December. Net borrowing of…
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Independent risk consultancy, Broadstone, has announced that it has agreed to acquire Rockstead, a specialist supplier of governance, risk and consultancy services across the financial services market. The transaction will strengthen Broadstone’s capabilities in its growing banking & credit advisory vertical, which has offered a range of credit risk, data analytics and modelling services, following…
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Latest UK Finance data has shown that mortgage lending grew strongly in 2025, rising by over 16 per cent to its highest level since 2021. Overall, 2025 was a year of growth for the mortgage market. The number of mortgages for house purchase grew by 16.3 per cent to reach 720,000 loans, the highest number…
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Leonard Curtis has announced it has appointed Liam Griffin as its Restructuring Advisory Director. Griffin joins from Teneo to lead the firm’s offering alongside Dane O’Hara. Griffin, who will be based out of Manchester, has extensive experience advising corporates and their stakeholders to deliver positive outcomes in a range of challenging situations involving financial distress. He…
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A study by the University of Bristol’s Personal Finance Research Centre and Aberdeen Group Charitable has shown a sharp increase in those aged 40-59 using Buy-Now-Pay-Later loans (BNPL). These loans are currently accessed by 18% of households (up from 15% in May 2025), and while BNPL use is highest among younger households, growth has been…
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UK Finance has released its latest data on the later life mortgage showing that lending increased by 15.1% in Quarter 4 (Q4). The data showed that 41,400 new loans advanced to borrowers over 55 in Q4 2025. £810 million pounds of lending was to leant borrowers aged 65 to 70, up a huge 26.56%. A…
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The IoD Directors’ Economic Confidence Index, which measures business leaders’ optimism about prospects for the UK economy, dropped back to -63 in February 2026, from -48 in January. Business leaders’ confidence in their own organisations also fell, to +1 in February from +14 in January. There were also declines in many of the underlying indicators,…
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The Credit Services Association (CSA), the UK’s recognised trade body for the debt collection and debt purchase industry, has announced the appointment of four board directors following its 124th Annual General Meeting (AGM). There were two new appointments, including Samantha Reed, Risk and Compliance Director at Intrum, who brings extensive experience in governance, regulatory engagement…
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