Credit, Collections & Insolvency News
Latest data from UK Finance has shown that home repossessions rose sharply in Quarter 3 (Q3) 2025, but mortgage arrears fell. The analaysis showed that there were 1,390 homeowner repossessions, up 51% annually, and 900 buy-to-let repossessions, with this up 29%. Despite this, levels remain close to pre-pandemic norms and well below long-term averages, with…
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Unity Trust Bank has announced the appointment of Kiran Samra as its Chief Risk Officer. Samra started her career in finance and chartered accountancy 18 years ago at Deloitte, before moving to the Co-operative Bank, and then joining Unity in 2018 as Financial Controller. Samra has achieved a wealth of industry qualifications during her career,…
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Contracts for Difference (CFD) providers have been warned by the Financial Conduct Authority (FCA) to provide fair value, after its review found some firms had not risen to the Consumer Duty. Introduced in July 2023, the duty set a higher standard for consumer protection in financial services. The FCA says that good practice was in…
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The average length of energy debt repayment plans for electricity usage has now surpassed five years, jumping from three years just 12 months ago. According to data from energy providers, obtained via a Freedom of Information (FOI) to the energy regulator Ofgem submitted by Compare the Market, energy bill payers on debt repayment plans for…
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Nearly half (49%) of UK SME decision makers are positive about the year ahead – rising from 43% this time last year – but ongoing tax and cost burdens continue to impact growth prospects and productivity, according to new research from Simply Asset Finance. Carried out ahead of the Autumn Budget, the research highlights that…
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New research by Canada Life has found that despite being the demographic most likely to have built up significant assets the data shows that one in four (27%) over 55s have no will in place, leaving millions exposed to potential probate complications and unexpected inheritance tax bills. When asked why they have not yet written a…
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Around 2 million struggling households are receiving lower water bills through water companies’ social tariff schemes to combat rising prices, according to new figures from The Consumer Council for Water (CCW). The report shows that England and Wales provided help to more than 1.96 million customers through social tariff schemes in 2024-25 – a rise…
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Interest-free car repair financing platform Bumper International has announced that it has received Financial Conduct Authority (FCA) authorisation with permissions for consumer credit lending in the UK. The authorisation represents a major milestone for Bumper as it expands its mission to make car ownership more flexible and affordable, enabling the development of longer-term credit products…
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As many as seven in ten (71%) high-value decisions made by UK businesses are based on incomplete or partial data, according to a new study from EY. The research surveyed 250 leaders of UK companies with revenues above £100 million. In the last year, of these companies’ high-value business decisions – defined as decisions involving…
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Insolvency-related activity rose by 17% in Scotland last month, says R3, the UK’s restructuring, turnaround and insolvency trade body. R3’s analysis of data provided by CreditSafe indicated an increase in insolvency-related activities from 106 in September to 124 in October. October 2025 figures are 9% higher than the same period in 2024, which saw a spike…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in September 2025 grew by 11% compared with the same month in 2024. In the nine months to September 2025, new business was 2% higher than in the same period in 2024. The…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in September 2025 by 8% compared with the same month in 2024. In the nine months to September 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 22% in September 2025 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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