Credit, Collections & Insolvency News
New research from Fico has shown that fraud leaders across Europe, the Middle East and Africa (EMEA) are grappling with rising fraud complexity and AI-enabled threats, even as they accelerate investment in AI-driven detection and enterprise-wide fraud strategy. The findings, drawn from Fico’s global survey of 202 senior fraud, risk and technology professionals at retail…
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New polling from Independent Age has shown that 55% of adults under the age of 65 are not confident they will have enough money to live comfortably in retirement. The charity, which today launches a new strategy and visual identity, says these findings should raise the alarm about the threat of poverty in later life…
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A new report commissioned by Fair4All Finance and authored with PwC has found that although UK financial services providers have made progress in making products and services accessible over the last decade, disabled consumers continue to experience different levels of support depending on the provider they use, the product they need, the channel they choose…
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The average UK home now costs the equivalent of 7.3 times average earnings, down from 7.6 a year ago, according to new research from Lloyds. The ratio is now at its lowest level since 2015. Nationally, the average property price increased by +0.5% over the last year, to £299,131, while average earnings rose by +4.5%…
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Motor finance lenders should continue strengthening their redress preparations despite the ongoing legal challenges to the FCA’s compensation scheme, leading banking and credit advisory firm Broadstone has warned ahead of an Upper Tribunal hearing this week wwk A case management hearing is scheduled for Monday 5th and Tuesday 6th October, which is expected to consider…
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InDebted has announced the appointment of Chris McNamara as Chief Executive Officer (CEO) and Brendan Lee as Chief Financial Officer (CFO). The appointments complete a CEO search that InDebted opened in April, when founder Josh Foreman moved from Chief Executive Officer into a dedicated Founder and Executive Director role. McNamara joins from Advanced Navigation, where…
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Energy UK has again warned the Government of the growing economic cost of failing to tackle high energy bills, with predictions pointing to the biggest rise in four years come January, while customers are in an even more challenging financial position. This week saw the current price cap, which runs until the end of December,…
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EY has forecast that mortgage lending will grow 3.3% before slowing to 2.2% in 2027 as economic pressures and uncertainty are reducing borrowing demand. Mortgage lending remains comparatively resilient, after interest rates and inflation fell back last year, with growth expected to rise marginally from 3.0% in 2025 to 3.3% in 2026. However, rising unemployment,…
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Business lending growth is forecast to more than halve from 5.3% last year to 2.1% this year, then rise modestly to 2.8% in 2027, according to a new EY UK Bank Lending Outlook analysis. Higher costs and economic uncertainty weigh on investment demand. From 2027, stronger spending on AI and wider digital technology is expected…
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Around one in five remortgage borrowers were considering variable and tracker mortgages in September while first-time buyers’ interest in variable rate products collapsed, new Money Facts analysis has found. The data in September, 21% of remortgage borrowers researching mortgages on Moneyfactscompare.co.uk were considering variable or tracker mortgages, compared with 14% in July. Whilst 7% of homemovers…
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Three in five people (62%), equating to more than 34 million adults, will face a major life event or financial challenge which could seriously affect their retirement savings, according to Scottish Widows’ latest Retirement Report, focusing on the impacts of vulnerability. These experiences range from ill health, divorce and bereavement, to lower financial resilience and…
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Moore Kingston Smith has announced it has appointed David Smithson as a Restructuring and Insolvency Partner, strengthening the practical support available to businesses, directors and lenders primarily across the South, as well as in London, as they navigate financial pressure and uncertainty. Smithson has 37 years’ experience in the profession, including 22 years as a licensed…
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UK SMEs are facing growing cash flow pressure, with 40 per cent saying they have been forced to cut customer payment terms to protect their own finances, according to the latest SME Confidence Tracker by the UK’s largest independent invoice financier, Bibby Financial Services (BFS). With the Commercial Payments Bill yet to be passed, and…
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