Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 27% in February 2026. Commenting on the latest new business figures for the second charge mortgage market, Geraldine Kilkelly, Director of Research and Chief Economist at the Finance & Leasing Association (FLA), said “The second…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 2% in February 2026 compared with the same month in 2025. The corresponding value of new business was 5% higher over the same period. In the first two months of 2026, new business volumes grew…
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Latest data from the Royal Institution of Chartered Surveyors (RICS) has found the market losing momentum as rising borrowing costs and wider geopolitical uncertainty weighed heavily on buyer confidence and sales activity. New buyer enquiries fell to a net balance of -39%, down from -29% in February, marking the weakest reading since August 2023. Agreed…
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Latest data from the Bank of England has found that loan defaults have risen to 6.2% in early 2026, the highest since late 2024 (7.8 per cent), when the UK had seen several hikes in interest rates. Unsecured lending defaults hit 18.6% in Q1 this year, the highest figure since the last quarter of 2023.…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 5% in February 2026 compared with the same month in 2025. In the first two months of 2026, new business in this market was 4% higher than in the same period in 2025. The credit card and…
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Snap Finance has announced that it has made three senior appointments to its business development team. Dave Fletcher joins as Head of Business Development from HSBC, where he spent almost three years as Head of Retail Merchant Relationships covering UK point-of-sale (POS) credit. He brings more than 20 years’ experience in the consumer finance sector,…
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More than half (55.8%) of failed payment transactions among UK SMEs are never recovered, according to new research by Access PaySuite. The survey of 250 UK SME finance and payments decision-makers found that 3.4% of transactions fail on average. Nearly 50% of SMEs experience checkout abandonment, with an average rate of 7.8%. Whilst almost one…
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A criminal from London has been sentenced at Southwark Crown Court to four years and five months in prison after defrauding customers of potentially up to £500,000 over 19 months. The sentencing follows investigation and arrest by a specialist banking industry-sponsored police unit, the Dedicated Card and Payment Crime Unit (DCPCU). Between October 2022 and…
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Increasing numbers of businesses are seeking protection against bad debt as they navigate tough trading conditions, according to SME funder, Bibby Financial Services (BFS). BFS’s latest SME Confidence Tracker reveals that the average amount SMEs are owed in unpaid invoices is £66,770 – a 10 per cent increase year-on-year – and 30 per cent have…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s third annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 108 entrants (whittled down from nearly 115 entries) from nearly 80 companies within the shortlist. There are over 20 partnership entries in the running to win across…
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In March 2026, the following administration notices were issued and advertised in the London Gazette for the following companies: 12 TREVOR PLACE LIMITED 17 BERKELEY STREET (FLAT 8) LIMITED 17 CRESSWELL GARDENS LIMITED 17 HERTFORD STREET LIMITED 172 OAKWOOD CT LIMITED 23 QG PLACE (THE PENTHOUSE) LIMITED 24 MOUNT ROW (FLAT 1) LIMITED 2C SERVICES…
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In March 2026, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 1ST CARS LIMITED 1ST ECO GEN LTD 1ST PAY LIMITED 2 BY 2 DEVELOPMENTS LTD 327GB LTD 59 CHARLOTTE STREET LIMITED A.L.RINSTALLATIONSERVICES LTD A.M. ENFORCEMENT LTD A&B HOME CARE LTD ABREY CONSTRUCTION LIMITED ABU ZAR LIMITED…
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The ICAEW’s Business Confidence Monitor shows sentiment has fallen for a fifth consecutive quarter, reversing earlier signs of recovery. Before the conflict, businesses had reported improving domestic sales and easing inflation, but rising geopolitical tensions have sharply dented optimism. Labour costs and energy price volatility remain the biggest pressures on firms. Business confidence in the…
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