Credit, Collections & Insolvency News
New research commissioned by TopCashback has revealed that one in seven (14%) people will be celebrating this Halloween, but not dressing up to cut back on costs. The survey highlights that among those skipping costumes this Halloween, 59% say they’re doing so to save money. Other reasons include wanting to save time (20%) and to…
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The DWP has published income-related benefits data, including Pension Credit, indicating that up to £2.5 billion of Pension Credit goes unclaimed by 950,000 eligible families. The data showed that 62% of those entitled to Pension Credit received the benefit in the tax year 2023/24, down from 65% in 2023. The research showed that the number…
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Financial services firms need to enhance the accessibility and supportiveness of their online content for individuals with financial and mental health concerns, according to a new report from the LSB (Lending Standards Board). The report, based on research commissioned by the LSB from the Money & Mental Health Policy Institute, assesses financial services firms’ websites…
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New research from FICO has revealed that consumers are prioritising fraud protection over other considerations when selecting financial service providers. Banking-related fraud, such as stolen cards and identity theft leading to application fraud, tops their list of concerns, while traditional scams like cash theft and shopping fraud rank far lower. The data showed that 35%…
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Latest Bank of England data showed that net borrowing of mortgage debt rose by £1.2 billion to £5.5 billion in September, the highest since March 2025 (£13.2 billion). Net mortgage approvals for house purchase increased by 1,000, to 65,900 in September. By contrast, approvals for remortgaging decreased by 600 over the same period, to 37,200.…
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The National Association of Commercial Finance Brokers (NACFB) has announced the appointment of Charlotte Loomes as its new Operations Director, as the trade body continues to expand its membership and strengthen its operational capabilities. Loomes joins the NACFB with extensive industry experience, having held senior operational roles at NACFB Patron Arkle Finance and Member firm Tower…
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Ofgem has announced a new plan to tackle the growing crisis of energy debt through a new Debt Relief Scheme (DRS). The regulator has confirmed the first phase of the scheme will write off up to £500 million of historic debt built up during the energy crisis, with total energy debt across the UK now…
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The Government’s landmark Renters’ Rights Bill has received Royal Assent, officially becoming law and paving the way for the most notable reform of the private rented sector in almost four decades. The new Renters’ Rights Act introduces a far-reaching set of changes, which include the abolition of fixed-term tenancies and Section 21 notices. Commenting on…
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More than a quarter of a million families will receive confirmation this week of their £150 discount on energy bills this winter, as part of the Government’s drive to help families tackle energy affordability. The Prime Minister took the decision last year to expand the Warm Home Discount to a further 2.7 million families, meaning six million households now receive…
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Rapid rent increases since the Local Housing Allowance (LHA) has been frozen mean the gap between the support low-income private tenants receive and the 30th percentile of local rents is already at 14 per cent (£104 a month for a typical two-bedroom property). This affordability gap is expected to reach a record 17 per cent…
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A proposed £1.7 billion business rates tax increase on large businesses could jeopardise 120,000 jobs, industry leaders have warned. The British Retail Consortium (BRC) and UK Hospitality have expressed concerns over the Chancellor’s plans to raise business rates for superstores, hotels, and restaurants, arguing that it could lead to site closures. The proposals could mean…
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Latest data from Barclays has shown that spending on mortgage and rental payments rose by 7.3 per cent year-on-year in September, the highest increase since February. Amid the Bank of England base rate being held at 4 per cent in September, and rising costs, confidence in the housing market has also decreased slightly from 29…
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Skipton Business Finance (SBF) has appointed Katrina Nolan as Head of Restructuring and Recoveries. Nolan joins SBF from Close Brothers, where she served as Recoveries Manager (North) since 2019, managing all recoveries across commercial and corporate lending portfolios. Her earlier career includes senior client-care and customer-facing roles at Moorepay and HBOS/Lloyds Banking Group, bringing a…
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