Credit, Collections & Insolvency News
A majority of recent first-time buyers have relied heavily on family support and personal sacrifice to get onto the housing ladder, according to research commissioned by TSB. The survey found that four fifths (80%) had moved back in with parents to save towards a property, while 96% received financial help with their deposit – mostly…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in June 2025 grew by 1% compared with the same month in 2024. In the first half of 2025, new business was also 1% higher than in the same period in 2024. The…
Read more
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 16% in June 2025. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
Read more
New data from global credit management provider Pepper Advantage has shown that arrears and direct debit rejections (DRRs) have declined, with the overall arrears rate decreasing by 4.4% and the DRR rate falling by 5.1% with Quarter 2 (Q2) 2025 marking the first quarter since the Covid-19 pandemic in which a decline in both areas…
Read more
Younger generations are challenging outdated stereotypes that they are financially irresponsible by showing greater dedication to saving and investing than their older counterparts, new research from Scottish Friendly has revealed. The research shows that while a third (31%) of adults are saving less than they were a year ago, Millennials and Gen Z are nearly twice…
Read more
Summer 2025 is proving even tougher for families, with 81% of parents feeling financially stressed and 52% worse off than last summer, according to new research from credit-building business Loqbox. The data shows households feeling the squeeze, driven by pricier holidays, rising childcare costs, and mounting back-to-school expenses, with 52% feeling worse off than in…
Read more
A Staffordshire businessman who sold seven historic cars, including two Jaguars and three Rolls-Royces for just £1 to another company he also controlled has been banned as a director. Kulbarg Singh, was the director of Aldridge Construction Engineering Ltd when he entered into an asset purchase agreement with Ace Earth Solutions Ltd in 2021. At…
Read more
Housing association Thirteen Group has become the first social landlord across England and Wales to introduce Open Banking payments as part of a partnership with PayPoint. The partnership between PayPoint and Thirteen was first established in June 2024. At the core of the partnership is ensuring customers have more control, more choice and a simpler way…
Read more
The Finance and Leasing Association (FLA) has criticised the Financial Conduct Authority’s (FCA) proposed redress scheme for car finance mis-selling, labelling it ‘completely impractical.’ Stephen Hadrill, Director General of the FLA has expressed concern about the scheme covering loans dating back to 2007, stating that both firms and customers may lack necessary documentation. The FCA…
Read more
Water regulator, Ofwat has announced that Chief Executive Officer (CEO) David Black is stepping down at the end of the month. The news follows the Defra announcement that Ofwat is to be transferred into a new, integrated water regulator. Black will be standing down at the end of August with an interim appointment will be…
Read more
Martin Jackson, Founder and Managing Director of JMAC Business Consulting, has been shortlisted as a finalist for the prestigious Institute of Directors (IoD) England Director of the Year Awards in the Innovation category. Jackson’s recognition stems from his leadership in JMAC’s pioneering work with FinTech leader Hope Macy. Tasked with developing a credit rating system…
Read more
Total like-for-like retail sales (in-store and online) grew by just +2.8% in July, compared to a base of +3.0% in July 2024, according to the latest High Street Sales Tracker from accountancy and business advisory firm BDO. Sales in bricks-and-mortar stores grew by just 0.8% compared to July 2024, delivering a result significantly below inflation and therefore…
Read more
Digital credit specialist ,LoanTube has announced that it has partnered with Push Group to embed its business loans infrastructure. This integration allows small and medium businesses to access a wide range of loan products from more than 50 lenders, including high-street banks, fintechs and specialist providers. Applicants receive personalised offers in real time, without needing…
Read more