Credit, Collections & Insolvency News
The latest mortgage lenders’ statistics suggest the housing market is cooling down, according to property experts. In the latest figures published by the Bank of England, the outstanding value of all residential mortgage loans was £1,613.4 billion at the end of Q4, 2021 – up 4.7% on the same period the year before. The value…
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Victims are losing more to bank transfer scams every hour than the average UK worker earns a year, new research from Which? has revealed. A voluntary reimbursement code on bank transfer scams, also known as authorised push payment fraud (APP), was introduced in May 2019, and most major banks have signed up. It instructs them…
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Latest data from Barclaycard has revealed that spending on essential items rose 12 per cent in February. This increase was largely driven by an 11.2 per cent rise in spend on fuel, likely due to climbing prices at the pump, as well as the easing of work-from-home guidance encouraging more Brits to commute. While supermarket…
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Research by KIS Finance has revealed that as a direct result of the rising cost of living, 57% of people in the UK are either already struggling financially, or expect to do so in the very near future. With no solution to the war in Ukraine in sight, the situation is set to get much worse, as…
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Registry Trust, the not-for-profit organisation which maintains the Register of Judgments, Orders and Fines for the UK & Ireland, has appointed Polly Mackenzie, CEO of think tank Demos, as a Non-Executive Director. As former Founding Director of the Money and Mental Health Policy Institute and Director of Policy Innovation at 10 Downing Street, MacKenzie brings a…
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Nearly one in 10 smartphone users in the UK (9%), as many as 5.7 million people, have fallen victim to identity fraud in the last 12 months, according to research by GBG, the experts in digital identity. GBG’s State of Digital Identity Report 2022 has revealed that young adults aged 18-to-24 were hardest hit with…
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Latest ONS statistics highlighting the social impacts of Coronavirus have indicated that one in seven people borrow to pay bills. The research also showed that 81% of people said their cost of living has risen over the past month. When asked how this was affecting them, 22% of people said they were spending their savings.…
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Millions of people are failing to compare lending products from at least two providers and risk not getting the best deal available to them, according to analysis of FCA data from Freedom Finance, The data shows a widespread lack of shopping around across most loan products, and a low-level understanding of terms like APR that…
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Over 1.8 million adults in Scotland have seen their finances get worse during the Covid pandemic, according to new analysis from Citizens Advice Scotland (CAS). Polling for the charity by YouGov found 41 per cent of Scottish adults found their financial position got worse during the pandemic, with 15 per cent saying their position has…
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The Bristow & Sutor Group is calling for more like-minded businesses to commit to worthy causes long-term, after achieving successful outcomes in partnership with The Money Charity. The enforcement specialists announced The Money Charity as their latest charity partner in 2021 and have committed to providing both fundraising and volunteering support for at least the next three…
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Insolvency and restructuring trade body R3 has published new research which aims to address a range of misconceptions about insolvency fees. R3’s paper, ‘Insolvency fees and the cost of regulation – the detail behind the headlines’, explains how insolvency fees are charged, paid and regulated, and provides an overview of the role of the…
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United Trust Bank (UTB) has announced that it has recruited experienced underwriter Rob Irving to its asset finance credit team. Irving is a highly experienced asset finance professional with a career in commercial banking spanning nearly 20 years. He joins UTB as senior underwriter from Wesleyan Bank and has previously held positions with Haydock Finance…
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The Resolution Foundation has warned that a typical household’s income will fall by about £1,000 this year once the effect of inflation is accounted for. The change in inflation would be the biggest real-terms fall in incomes since the mid-1970s, the think tank added. It expects inflation to peak in April at 8.3% – much…
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