Credit, Collections & Insolvency News
New analysis from debt management firm Lowell has found that 61% of households (17 million) don’t have sufficient emergency savings to cover these unexpected costs without turning to credit. At the time of reporting, the cheapest fridge/freezer available at Argos would set someone back £160, a washing machine £189 and a dishwasher £189. Replacing a…
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The gap between what aspiring homeowners can realistically afford and the actual cost of purchasing a home has widened significantly in recent years, according to the latest research by the Home Builders Federation (HBF). As a result, despite strong demand for housing, millions are unable to turn that demand into a purchase, with young people…
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Energy company, OVO will pay over £2.7 million in redress after failing to provide Warm Home Discount (WHD) rebates to 11,646 customers by the statutory deadline of 31st March 2024. These customers did not receive their rebate until November 2025 – more than 19 months late. The delay meant that some of the most vulnerable…
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Research by Pepper Money has found that more than 16 million people have now experienced adverse credit, showing that rising living costs and financial pressures are driving a sharp increase in credit struggles across the UK, the highest figure since the study began nine years ago. The data showed that adverse credit is now increasingly common…
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Dains has announced the appointment of Lee Brocklehurst as Business Recovery Director, based in Dains’ Birmingham office. Brocklehurst brings more than 25 years of experience in business recovery, restructuring and insolvency and joins Dains from Quantuma, where he was an appointment-taking Insolvency Practitioner. In his new role, he will lead the development of Dains’ Midlands…
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A Yorkshire waste operator has been sentenced after illegally acting as a company director while bankrupt. Jonathan Waldron was sentenced to 16 months in prison, suspended for two years, when he appeared at York Crown Court on Wednesday 21 January. Waldron was ordered to complete 200 hours of unpaid work and pay costs of £1,000.…
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UK Finance has today announced that another eight institutions have become signatories to its refreshed Financial Abuse Code. This expansion means almost 90 per cent of the UK’s mortgage market will now be covered, reinforcing the industry’s commitment to supporting customers experiencing domestic abuse, including economic abuse. The announcement marks a significant milestone, bringing the total number of firms signing the Code to 33, covering 49 brands, supporting the Government’s ambition to halve…
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Latest data from UK Finance has found that buy-to-let (BTL) lending rose by 22.7% in Quarter 3 (Q3) 2025. The research showed that there were 59,467 new buy-to-let (BTL) loans advanced in the UK worth £10.9 billion in the third quarter of 2025. This was up quite significantly compared with the same quarter in the…
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New research by the People’s Partnership has revealed how the majority of adults think that without financial education, we will all be poorer in the future, and we are failing future generations if we don’t equip them with financial literacy. The data shows that nine in ten (85%) of adults believe that without financial education,…
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More than one in five SMEs say international trade tariff disputes remain the biggest challenge facing their business, according to new research from FTSE 250 lender Paragon Bank. Nearly a year since Donald Trump set out a range of global tariffs and as geopolitical tensions continue over Greenland, the study of 1,000 small and medium-sized…
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The Office for National Statistics (ONS) data has shown that Inflation rose to 3.4 per cent in December, slightly above forecasts, ending a five-month cooling trend. The rise was driven mainly by tobacco duty timing and volatile air fares. Core inflation held steady at 3.2 percent, while services inflation rose modestly to 4.5 percent, below…
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Welcom Digital, a trusted provider of loan management systems to the finance sector, has announced the launch of Financier Homeowner, a brand-new module designed to support lenders operating in the residential mortgage sector with an intelligent API first approach providing the tools they need. Built as part of Welcom Digital’s proven loan management suite, Financier…
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Latest data from the Insolvency Service for England & Wales has shown that business insolvencies increased by 0.2% in 2025 when compared to 2024, rising to 23,938 from 23,880 The 2025 insolvencies comprisied of 18,525 creditors’ voluntary liquidations (CVLs), 3,730 compulsory liquidations, 1,495 administrations, 186 company voluntary arrangements (CVAs) and two receivership appointments. In 2025,…
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