Credit, Collections & Insolvency News
The UK risks developing an AI adoption divide between businesses embedding AI across their operations and those still experimenting with the technology, according to new NatWest research. The study of 1,400 UK SMEs and mid-market businesses found that 44% currently use AI and a further 41% expect to adopt it within five years. However, only…
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Mortgage sales to borrowers with impaired credit histories have increased to their highest levels since 2008, according to analysis of FCA data provided following a FOI request by leading independent banking and credit advisory consultancy Broadstone. Through 2025, 10,089 mortgages were sold to borrowers with impaired credit histories, representing an increase of 23% from 8,183…
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Seven seemingly unrelated companies have been shut down after Insolvency Service investigators and Companies House combined to unearth evidence of a connection between them. The companies, three of which were based in London and the other four in Lancashire, Manchester and Reading, were said to be involved in various trades including the wholesale of fruits,…
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With households already stretched by the cost of food, energy and other essentials, new research suggests millions of UK drivers are just one fault away from a financial shock. New research commissioned by subscription lender Creditspring among 1,273 UK drivers found that a quarter (25%) have no money put aside specifically for vehicle emergencies, leaving…
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Citizens Advice has warned that while energy supplier customer service is slowly improving, suppliers must go further to support households ahead of a challenging winter. The charity’s latest Star Rating, covering April to June 2026, shows a small improvement across the board. The median score sits at 3.4 out of 5 – up from 3.26…
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Consumer confidence has fallen, with the British Retail Consortium’s index dropping to -34 in September from -28 in August. The decline follows four months of improvement, with households becoming increasingly concerned about their finances and reluctant to increase spending in shops. Speculation over potential tax rises in the upcoming Budget has intensified as economists warn…
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Ofgem’s latest social obligations (debt and arrears) report has revealed that total domestic customer debt and arrears, across a period of more than 91 days, now top £5 billion among households in Britain. This marks a 4.8% increase from Q1 2026 and a 13% year-on-year increase. This comes as StepChange data further illustrates the pressures…
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New analysis by Purbeck Insurance of personal guarantee-backed small business loans shows how the rising cost of doing business over the past 18 months (notably the increase in National Insurance contributions) has led to an increase in the value of loans taken on by small business owners, outpacing the value of the family home in…
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Shawbrook has expanded its Healthcare Lending team with the appointment of Emma Glynn as Senior Director. Emma joins to strengthen our ThinCats Healthcare proposition, whilst having responsibility for originating opportunities across both the Shawbrook and ThinCats Healthcare platforms. Glynn brings more than 20 years of experience as a healthcare property and governance leader, having advised…
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Specialist SME lender 365 Finance has announced George Visser as its new Chief Risk Officer. Visser joins the company after 11 years at Bayport Financial Services Group, in which time he rose from being a Financial Modeller to Head of Commercial Analytics and then Group Credit Executive. Visser will lead 365 Finance’s risk function, overseeing credit…
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The Chancellor must use next month’s Budget to give businesses the breathing space they need to deliver growth – including by freezing the business rates multiplier for one year – according to the chartered accountancy body ICAEW. Research from ICAEW, which was used to form its Budget submission to HM Treasury, pointed to a clear…
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The UK faces increasing competition for future investment and financial services activity from other global financial centres, and risks losing out unless action is taken to protect the country’s position. A new report from UK Finance and Norton Rose Fulbright draws on the work of UK Finance’s international bank membership, supported by detailed interviews with…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 2% in July 2026 compared with the same month in 2025. In the first seven months of 2026, new business was 6% higher than in the same period last year. Growth was…
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