Credit, Collections & Insolvency News
A Management Consultant who secured two Covid Bounce Back Loans – totalling £80,000 – having twice significantly overstated his company’s turnover has been disqualified for 11 years. Romain McLean was the sole director of RMC Associates Limited, registered at Kingston Road in Wimbledon. He applied for a £30,000 Covid Bounce Back loan for his business…
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New research from SunLife has reveals that seven in ten (73%) over 50s have private pensions, rising to 75% in the South West, 76% in the South East and 83% in Northern Ireland, in the North West 30% of over 50s have no private pension savings at all. Average incomes in the region are also…
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New analysis by Sprive, suggests a perfect storm is brewing as millions face retiring with mortgage debt hit by late homebuying, sky-high prices, and AI disrupting income security Analysis of official Government housing data* reveals that as buyers are being forced to take on longer mortgage terms later in life, they are increasingly likely to carry…
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Chancellor Rachel Reeves has delivered her Spending Review, setting out budgets for government departments. Responding to the announcement, Tina McKenzie, Policy Chair of the Federation of Small Businesses (FSB), said “Small businesses will be wondering when they will feel the benefits of today’s Spending Review. It was not the business-focused day they had hoped for. “As spending allocations…
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Business decision-makers are becoming ‘paralysed’ by constant crisis and their excessive caution is limiting growth opportunities, a new report from accountancy and business advisory firm BDO has warned. In total, 84% of international business leaders surveyed as part of BDO’s annual Global Risk Landscape Report 2025 said the global risk landscape is now, more than ever, defined…
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Accountants and Financial Advisers increasingly are seeing clients struggle to pay their fees with a knock on effect on their cashflow, new research from Premium Credit. Nearly nine out of ten (87%) say more clients are struggling to pay their fees and nearly three out of four (74%) expect a rise in the number of…
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The founder of a football betting investment firm has been banned as a director after his company went into administration owing investors more than £10 million. Former television presenter Alan Bentley allowed his Bentley Global (UK) Limited company to obtain more than £1.5 million from investors during late 2019 and the first half of 2020,…
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Chancellor Rachel Reeves has delivered her Spending Review, setting out budgets for government departments. Responding to the Spending Review, Dame Clare Moriarty, Chief Executive of Citizens Advice, said “The elephant in the room today has been the looming cuts to support for disabled people, which threaten to increase poverty and will inevitably strain the very health…
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New research from HSBC and Young Enterprise has found that Gen Z feels judged about their financial management, with 67% expressing embarrassment, primarily from family. Nearly two thirds (63%) of Gen Z respondents say they’ve ‘felt judged’ about how they manage their money – whether by family (39%), friends (31%), or by social media (17%).…
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According to the latest report by the ONS there were 2.76 million jobs in retail in March 2025. The four-quarter average, which smooths out the seasonal variations in hiring, was 2.80 million jobs in March 2025, 93,000 fewer than at the same point last year, and 364,000 fewer than in 2015. On a four-quarter average…
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Latest data from the Bank of England has shown that the number of new mortgages competed by lenders jumped 50.4% to £77.6 billion in the first three months of the year compared to 12 months ago, hitting the highest quarterly level for more than two years. The data shows that the outstanding value of all…
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The Financial Conduct Authority (FCA) has announced that it has appointed Sarah Pritchard as its Deputy Chief Executive to manage growing remit, support growth and drive reform The new role has been created to reflect the FCA’s expanding remit, with the integration of the Payment Systems Regulator, regulation of stablecoin and crypto firms as well…
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UK Finance has published its later life mortgage lending update for Q1 2025 which showed that there were 38,510 new loans advanced to older borrowers in Quarter 1 (Q1), increased 33.5 per cent year on year. The value of this lending was £6.1 billion, which was up 42.6 per cent compared with the same quarter…
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