Credit, Collections & Insolvency News
Chetwood Bank has announced the appointment of Rob Pomphrett as Non-Executive Director (NED). Pomphrett brings over 30 years of extensive experience in the banking and financial markets sector, where he specialised in trading risk and leading global teams across credit, interest rates and government bonds, and structured products During a long and successful career, Rob…
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A former world sprint champion has been sentenced after he spent Covid loan funds to help buy a £1.3 million house. Rick Beardsell secured two £50,000 Bounce Back Loans for his Sports Creative Limited company in 2020 and 2021 when businesses were only allowed a single loan. The 46-year-old then moved the Bounce Back Loan…
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Latest quarterly data from UK Finance for Quarter 1 (Q1) has found that there were 58,347 new buy-to-let loans advanced in the UK, worth £10.5 billion. This was up 38.6 per cent by number (46.8 per cent by value) compared with the same quarter in the previous year. The average gross buy-to-let rental yield for…
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Latest Accountant in Bankruptcy figures have shown that business insolvency numbers (liquidations and receiverships) in Scotland for Q1 2025-2026 increased by 17.3% compared with Q1 2024-2025, to a total of 332. The number of business insolvencies (liquidations and receiverships) in Scotland for Q1 2025-2026 increased by 12.9% compared with the previous quarter’s total of 294…
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Latest Accountant in Bankruptcy figures have shown that personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for Q1 2025-2026 decreased by 5.8% compared with Q1 2024-2025, to a total of 1,935. The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland for Q1 2025-2026 increased by 15.8% compared with the previous…
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New research from HSBC has revealed that three in four people (75%) consider financial compatibility essential. The nationwide survey of 2,000 adults explored how modern couples navigate finances – from dating apps to wedding vows – and the pressures, expectations and unspoken rules that come with spending in relationships. The impact of this silence is clear, with 58%…
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New analysis by HSBC has found that 78 per cent of mortgage brokers have noticed a rise in the amount of lending agreed for their clients. The poll shows that 93% of the brokers surveyed said that it is important for their clients to increase their borrowing power. Nearly two-thirds (63 per cent) of brokers…
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Latest figures revealed by the Insolvency Service show that £57.5 million has been returned to the UK economy in the past year, and over 69,000 people have been supported through emergency redundancy payments. The Annual Report and Accounts show that Insolvency Service Official Receivers handled 10,817 new insolvency cases during 2024-25 , this has resulted…
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Gen Z is rewriting the rule book when it comes to overspending – from fashion to frappés or the glow of ‘glass skin’ to bingeing on Stranger Things, new research from Nationwide reveals. The research highlights that younger generations are prepared to invest in feeling good, brand identity and self-care – even if it means…
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A new survey from the UK’s leading credit-building business, Loqbox, has revealed that people in the UK are struggling to understand how credit works and what it means for their everyday lives. At a time when the average credit score in the UK is 644 on the Equifax scale and an estimated one in ten…
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Momenta Finance has announced the appointment of Tim Boag as Chief Executive Officer, effective 1st September 2025. Boag brings with him more than 35 years’ experience in financial services. His career spans major UK banking institutions and specialist lenders, equipping him with a unique perspective to lead Momenta Finance into its next phase. Most recently,…
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New research by the Financial Conduct Authority (FCA) has revealed that while rising motor insurance premiums are largely driven by external cost pressures, shortcomings persist in how some insurers handle claims. FCA analysis shows that increases in the cost of motor claims – due to higher prices for cars, parts, labour, energy and more complex…
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NatWest has helped launch a transformative initiative aimed at driving inclusion, which is also being backed by Nikki King CBE, with business leaders, educators, innovators, and changemakers from across the country coming together to mark the beginning of the Future Talent Alliance. The programme aims to bridge the gap between businesses and schools, taking a…
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