Credit, Collections & Insolvency News
Latest Bank of England data has shown that mortgage lending more than doubled from £3.3 billion in May to £7.7 billion in June. June’s figure was also substantially higher than the previous six-month average of £4.9 billion. Mortgage approvals for house purchases increased to 58,200 in June, from 56,600 in May. However, this was below…
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The Equity Release Council, the representative body for the UK equity release and later life lending sector, has announced the appointment of John Godfrey as its new Chair. Godfrey brings more than four decades of experience gained from senior leadership across financial services, government and public policy, including as head of the No.10 policy unit,…
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Shop price inflation slowed to 0.9 per cent higher than the previous year in July, down from 1.2 per cent in June, according to data from the British Retail Consortium (BRC). Inflation on non-food products fell to 0.2 per cent from 0.6 per cent, and overall food price inflation fell from 2.4 per cent from…
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New research by Money.co.uk has found that childcare providers are struggling to break even despite childcare fees increasing. Analysis of 2025 Department for Education data reveals that the average private nursery in England makes just £933.66 profit per child each year — around £78 per month — after operating costs. Far from profiteering, many providers…
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New polling from StepChange Debt Charity reveals that almost one in six (15%) of adults, equivalent to more than 8 million people, find keeping up with their credit card repayments a very or fairly large burden each month, highlighting the growing challenge of credit card debt across the UK. The research, conducted by YouGov on…
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The UK’s Open Banking ecosystem has reached two landmark milestones, with more than one billion Open Banking payments and 100 billion API calls now recorded across the CMA9 banks since the launch of Open Banking more than eight years ago. A defining moment in the evolution of Open Banking in the UK, these milestones demonstrate how the initiative has become an integral part of…
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The cost of a traditional funeral has risen by £90 in just three months and by £151 since the start of the year, according to new data from Pure Cremation. The research found that the average traditional funeral now costs £4,713, a rise of 1.95% between July and April 2026 and 3.3% since January. The…
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Paylink Solutions has announced the appointment of Andy Hart as Managing Director and Nicky Mikulla as Sales Director. The company says that the appointments reflect Paylink Solutions’ continued investment in shaping the future of affordability. Over the coming months, the company will introduce a range of new platform capabilities that combine AI, intelligent decisioning, automation…
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Millions of car finance customers who may be owed compensation can get help making a complaint for free, as the Financial Conduct Authority (FCA) launches a new national advertising campaign. Research by the FCA found that 27% of car finance customers lack confidence to make a complaint without using a claims management company (CMC) or law firm, despite free tools from…
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A fourth company director has been disqualified for their role in a scheme involving unauthorised banking transactions worth almost £14 million. Daryl Dylan allowed unarranged overdrafts with Barclays Bank to be used to make transfers of more than £1.6 million from the accounts of Oldcocdt Ltd and Oldcostl Ltd in 2021. Most of the transfers…
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Independent SME lender Time Finance has announced that it has strengthened its Invoice Finance Operations team with the appointment of Emma Caton as Relationship Manager. Caton joins Time Finance in its Invoice Finance North team with over 13 years’ experience in the industry, having previously held Relationship and Client Manager roles at RBS, HSBC, Bibby…
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Wilkin Chapman Rollits has announced three new Partner appointments. Louisa Shilleto has been promoted to Partner at Wilkin Chapman Rollits, having started her career with the firm as a paralegal in 2015. Shilleto studied law at the University of Hull and joined Wilkin Chapman Rollits as a paralegal in 2015. She went on to complete…
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The Federation of Small Businesses (FSB) says that the AI Minister’s new cabinet role allows the Government to help small firms adopt the technology with confidence, FSB has a new report, days after Prime Minister Andy Burnham gave AI Minister Kanishka Narayan a seat at the Cabinet table. The report found that 59 per cent…
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