Credit, Collections & Insolvency News
Financial anxiety is significantly impacting the daily lives and well-being of millions of people across the UK, according to new research from financial education charity Money Ready. The study reveals that 39% of adults feel anxious when they think about money – and this anxiety extends into having a real effect on people’s wellbeing, behaviour…
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The National Association of Commercial Finance Brokers (NACFB) originated £33 billion in SME lending in 2025, a 25% year-on-year increase. NACFB analysis indicates that its Members account for nearly two-thirds of broker-facilitated SME lending in the UK, placing the total broker-led market at approximately £50 billion annually. The data shows that during 2025, the NACFB’s broker Members arranged 180,000 loans for UK…
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Energy regulator Ofgem has announced a 7% (or £117) reduction of the energy price cap for the period covering 1st April to 30th June 2026. This change amounts to a reduction of around £10 a month for the average household using both electricity and gas. The price cap refers to the default tariff applied when a…
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New figures published by StepChange Debt Charity Scotland have revealed that the average debt among people seeking help from the charity has reached on average £20,116 per client, a 10% rise year-on-year, and the highest level recorded in over a decade. Two in three clients were in arrears on their household bills, owing an average…
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UK-based debt recovery firm Lawton Hathaway has partnered with European digital debt collections specialist Debtist, marking the company’s formal entry into the UK market and reflecting growing international interest in the UK debt recovery and lending sector. Under the agreement, Debtist UK will operate in the UK as an authorised representative of Lawton Hathaway, allowing…
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Latest data from Barclays has revealed diverging behaviour, with larger firms increasing longer-term lending and smaller firms relying more on shorter-term liquidity financing in the last quarter of 2025. While economic uncertainty remains the greatest challenge businesses are facing, confidence in the UK is resilient. Six in ten (58 per cent) back the home market…
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Digital bank, OakNorth, has announced that it has appointed Gergely Zaborszky as its new Chief Financial Officer (CFO), subject to regulatory approval, effective from July 2026. Gergely succeeds Rajesh Gupta, who will retire this year after more than five years with the company. Gergely joins OakNorth’s Board and Executive Leadership Team from Virgin Money, where…
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Four in five (80%) of adults believe younger generations are worse off now than two decades ago, according to research from Hymans Robertson Personal Wealth. More than half (59%) blame the rising cost of living as a key pressure, while almost half (43%) highlight increasing housing costs. Surprisingly, almost three-quarters (74%) of over-55s say young…
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The latest EY ITEM Club data has forecasted that consumer credit lending growth will remain largely flat at 5.8% in 2026 (from 6.1% in 2025), 5.7% in 2027, and 5.3% in 2028. Even though consumer credit remains expensive, demand is expected to remain steady over the coming years. This is largely due to a combination…
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Following growth of 6.9% (net) in 2025, bank-to-business lending is forecast to slow to 3.5% (net growth) this year, as global and economic headwinds impact business confidence and reduce investment demand, according to the latest EY ITEM Club Bank Lending Forecast. While falling interest rates helped boost business lending last year to the highest level since…
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The Financial Conduct Authority (FCA) reported a 174% rise in actions against influencers last year, including the first arrests for promoting high-risk investments. The FCA says that financial advice on social media has become increasingly risky, with ‘finfluencers’ promoting dubious financial products, with seven reality TV stars pleading guilty to illegal promotions, receiving fines between…
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The British Retail Consortium (BRC) latest survey of retail CFOs (Chief Financial Officers) and Finance Directors reveals a sharp rise in anxiety about labour costs over the next year. These concerns have shot up the agenda since the start of the implementation of the Employment Rights Act, which became law in January. With weak wage…
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Four companies linked to a scheme which risks undermining insolvency legislation have been shut down. Atherton Corporate Partners LLP, Jones & Harlington Ltd, TYA GRP Ltd and TYA Two GRP Ltd formed part of the Atherton scheme, which allowed business owners to keep their assets and drop their debts. More than £18 million in previously…
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