Credit, Collections & Insolvency News
Almost one in three first-time buyers were considering variable and tracker mortgages in July as higher fixed rates push homebuyers to rethink how they finance their first home, new Moneyfactscompare.co.uk analysis. In July, 31.3% of first-time buyers (FTBs) researching mortgages on Moneyfactscompare.co.uk were considering variable or tracker mortgages, compared with just 9.5% in February. The…
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Small and medium-sized enterprises (SMEs) are missing out on an estimated £54 billion in revenue due to a lack of confidence in accessing external finance, according to new research from broker-lender Portman Finance Group. The research found that 30% of businesses have missed a growth opportunity because of a lack of external finance, with affected…
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International credit management and technology company, Pepper Advantage, has announced the appointment of Matthew Wye as Chief Executive Officer (CEO), effective October 2026, subject to regulatory approval. He will lead the company’s expanding credit management operations, including the mortgage servicing business acquired from Computershare earlier this year. Wye will bring over 20 years of credit…
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Paragon Bank has announced the appointment of Colin Sanders as Managing Director (MD) of its new bridging proposition. Sanders joins Paragon with more than three decades of specialist lending experience, having previously led bridging lender Omni Capital as its CEO, and later founding Tuscan Capital and selling the business to Allica Bank. Paragon has also…
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Corporate restructuring firm Leonard Curtis has announced that it has appointed Colin Mills as its first Director of Data, marking a significant investment in the firm’s data, technology and AI capabilities. Mills brings over 20 years of experience leading data and AI strategy across some of the UK’s most recognisable organisations, spanning financial services, telecommunications…
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More than 220,000 fraud-risk cases were recorded to the UK National Fraud Database (NFD) in the first six months of 2026, with identity fraud accounting for 59%. The figures, revealed by fraud prevention service Cifas, mark the highest total volume of cases recorded throughout January-June. The latest data shows that stolen personal information is a…
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The equity release market returned to growth during Q2 2026, with lending and customer activity increasing as customer demand returned following a slower start to the year. According to the latest data from the Equity Release Council, total lending increased to £597 million during Q2 2026, up 4% on the previous quarter (£574m). Overall customer numbers also…
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Dudley Building Society has strengthened its leadership team with the appointments of Jayne Roberts as Head of Lending and Richard McDonald as Brand and Communications Manager. Roberts joins from Skipton Building Society, bringing extensive experience across the mortgage and lending sector. In her new role, she will lead Dudley Building Society’s lending function, overseeing the continued development…
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Following an external recruitment process, the Bank of England has appointed Nicholas Segal as Chair of its Enforcement Decision Making Committee (EDMC), and Peter King as Deputy Chair, The EDMC is the Bank’s decision-making body for contested enforcement cases in the statutory regimes the Bank operates in relation to Prudential Regulation, Financial Market Infrastructures, Resolution,…
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The UK economy has demonstrated continued resilience despite disruption from the conflict in the Middle East and is now forecast to grow at a slightly better-than-expected pace in 2026, according to the new EY UK Economic Outlook. EY predicts that UK GDP will grow by 0.9% in 2026, a slight increase from the 0.8% growth…
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Business confidence in the UK hit a four-month high, rising five points to 49% in July, two points higher than the 12-month average of 47%, according to the Lloyds Business Barometer. This was driven by an increase in economic optimism, reflecting the decline in global energy prices, the Bank of England holding interest rates and…
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Latest Bank of England data has shown that the total assets held by Credit Unions increased by nearly £100,000 to £4.99 billion in 2025, up 2% from the previous year. Membership also continued to grow, increasing by 0.80% to 2.29 million members. Total income increased by 6.03% in 2025 to £444.47 million, following growth of…
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The IoD Directors’ Economic Confidence Index, which measures business leaders’ optimism about prospects for the UK economy, fell marginally to -63 in July 2026, down from -61 in June. Business leader confidence in their own organisations also fell, to -2 in July from +7. The majority of the underlying indicators also declined; revenue expectations fell…
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