Credit, Collections & Insolvency News
Latest Bank of England figures show that mortgage lending recorded its strongest quarterly jump in five years in the third quarter of 2025, with gross advances rising 36.9% to £80.4 billion. The increase marks the sharpest quarterly gain since 2020 amid a renewed surge in the UK property market. The data showed that the outstanding…
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Latest data from Barclays shows that consumer card spending declined -1.1 per cent year-on-year in November – the greatest fall recorded since February 2021 (-9.5 per cent), and considerably lower than the latest CPIH inflation rate of 3.8 per cent. Amid ongoing consumer uncertainty, essential spend dropped -2.9 per cent, marking seven consecutive months of…
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Sophie Hutcherson has been reappointed as a Non-Executive Director to the Financial Conduct Authority (FCA) Board by the Economic Secretary to the Treasury. Her first three-year term will end on 17th April 2026. Following her reappointment, Hutcherson will continue to serve on the FCA Board for a second three-year term to expire 16 April 2029.…
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The Financial Conduct Authority (FCA) has confirmed changes to simplify its rules and lower costs for insurers, while maintaining appropriate levels of protection for smaller commercial customers. The regulator’s final rules aim to give insurance firms greater flexibility and responsibility, including determining the frequency of their product reviews and how much continual professional development (CPD)…
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Asset finance is expected to see the strongest demand for SME funding over the next 12 months, commercial finance brokers have told SME funding provider Asset Advantage. In the latest survey, 72% of commercial brokers said asset finance will be driving business funding demand in the coming year. Brokers also anticipate significant interest and demand…
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Time Finance has announced the appointment of Geoff Worrall as its Head of Structured Credit in the independent lender’s Asset Finance Division. Worrall’s appointment forms part of Time Finance’s ongoing strategy to grow its lending book to £300 million, which has seen the lender strengthen its presence across key UK regions with a succession of…
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Research by Synectics Solutions has revealed that 23% of individuals who commit credit card-related fraud go on to offend again, the highest repeat-offending rate of any major financial product. This figure has grown from 17% to 23% in just five years, representing a 35% increase. Repeat offenders are also spreading their activity across multiple organisations,…
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Hospitality leaders say the Budget has failed to deliver real business rates reform, leaving pubs and hotels facing steep increases in their rateable values—some of which could rise fivefold by 2029. They warn this will accelerate closures and push more venues into distress, undermining communities and local economies The analysis from UKHospitality reveals that small…
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A new report from the Financial Conduct Authority (FCA) looks to promote the growth of the mutuals sector, which includes customer or worker-owned organisations and credit unions. The FCA’s report offers a series of recommendations aimed at encouraging Credit Unions to expand and to offer more services. Credit Unions serve 2 million members and hold…
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The package of measures announced in the Government’s Child Poverty Strategy – including the abolition of the two-child limit on benefit support and an expanded Free School Meals offer – will result in child poverty rates falling in 2026-27, the first time in nine years (outside the pandemic), according to new analysis by the Resolution…
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The Insolvency Service has announced that it has appointed Duncan Beach as its new Chief Executive. Beach who was previously Managing Director, Global Head of Risk & Compliance Transformation at HSBC, will move to the Insolvency Service on 5th January 2026. He will replace the service’s current interim Chief Executive, Alex Pybus, who took on the role…
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Ofgem has announced that household energy bills will rise to help fund a £28 billion investment to upgrade the UK’s energy network. The energy regulator said that it has approved more than £17.8 billion of spending plans to upgrade gas transmission and distribution networks in the five years from April 2026. The remaining initial investment…
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The Government has announced a new Child Poverty Strategy, which aims to lift 550,000 children out of poverty by 2030. The Government says that following the reversal of the two-child limit, the strategy tackles the root causes of poverty by cutting the cost of essentials, boosting family incomes, and improving local services so every child…
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