Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell by 2% in July 2026 compared with the same month in 2025, while the value of new business remained unchanged. In the first seven months of 2026, new business volumes grew by 3% compared with the…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance providers advanced £10.3 billion of new credit in July 2026, 1% lower than in the same month in 2025. In the first seven months of 2026, new business in this market was 4% higher than in the same period in 2025.…
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New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes grew by 1% in July 2026. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said “The…
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Debt recovery and enforcement agency CDER Group has announced it has acquired Reventus. Reventus is an enforcement agency and debt collection company specialising in recovering public sector and local authority debts based in Hertfordshire. Director of Local Government Revenues, Andy Cummins, said “CDER Group Ltd are delighted to announce our acquisition of Reventus Ltd. We…
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New research from PensionBee has found that for most adults, owning a home outright is considered more important than preserving their pension and is worth sacrificing retirement years to achieve. PensionBee’s survey of 2,000 UK adults found that 45% cite outright home ownership as the most important factor for retirement security, compared to 36% who…
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A new IFS and LSE report, published as part of the IFS Green Budget and funded by the Nuffield Foundation, has suggested that the Government could ease cost-of-living pressures caused by high electricity prices by promoting time-varying electricity tariffs. The report says that. the Government should promote the take-up of contracts with time-varying electricity prices…
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Hanley Economic Building Society has appointed Paul Learoyd as Chief Operating Officer (COO). Learoyd joins the Society’s executive team with extensive experience across the building society and wider financial services sectors, spanning operations, mortgage propositions, technology and major transformation programmes. Most recently, he served as Digital Programme Director at West Brom Building Society, where he…
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Millions of households that appear financially secure today could be vulnerable to future financial shocks, according research by Yorkshire Building Society in collaboration with the University of Bradford, which provides a practical framework for understanding financial vulnerability and resilience. Drawing on data from 10,000 UK adults and advanced predictive modelling, the report finds that many households…
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Financial firms are shutting down hundreds of thousands of suspected money mule accounts, but organised criminal groups are still shifting dirty money through multiple bank accounts before cashing out, according to a Financial Conduct Authority (FCA) survey. The FCA has found firms have closed an increasing number of suspected mule accounts over the last three…
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New research from Trust Payments has found that missed payments in the consumer credit and collections sector are not solely a question of customer willingness, with industry professionals also pointing to administrative errors, limited payment options and communication failures as contributing factors. The findings come as millions of UK consumers continue to experience difficulty meeting…
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Gross lending to small and medium-sized businesses (SMEs) hit £5.35 billion in the second quarter of this year, its highest level since the pandemic, UK Finance’s latest Business Finance Review found. SME lending has shown growth for two and a half years, with gross lending more than 26 per cent higher than in the same…
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The Financial Conduct Authority (FCA) has issued a fresh warning to people in need of debt advice about the importance of seeking free, impartial and trustworthy advice. The Regulator has identified several red flags to look out for to ensure consumers are dealing with properly regulated and legitimate debt advice providers. The red flags include:…
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Yorkshire Building Society has announced the appointment of James Mack as its new Chief Financial Officer and Executive Director, subject to regulatory approval. With over 20 years’ experience in financial services, he is currently Chief Executive Officer at John Lewis Money and previously held the role of Chief Financial Officer at Barclays UK and Aldermore,…
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