Credit, Collections & Insolvency News
New figures from UK Finance has indicated the highest annual volume, and value, of mortgages to borrowers aged over 55 since 2014 occurred last year, according to UK Finance’s latest later life mortgage lending report. The report found that there were 187,120 new mortgages to borrowers aged 55 years and over completed during 2021, totalling…
Read more
The average price of a property in the UK increased by more than £24,500 last year to hit a new record high of £276,091, according to the Halifax. The 9.8% rise during 2021 was the fastest increase for any calendar year since a 12.5% rise in 2004. The mortgage lender said buyers sought more space…
Read more
New figures released by the Finance & Leasing Association (FLA) have indicated that’s second charge mortgage new business volumes grew by 43% in October 2021 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),…
Read more
Latest Bank of England data has shown that October saw a surge in credit card borrowing. Consumers borrowed a net additional £706 million last month, with new credit card borrowing accounting for £637 million of the credit, the largest amount of card borrowing since July last year. Between the start of the pandemic and April…
Read more
Latest Bank of England data has shown that individuals borrowed £9.5 billion of mortgage debt on net in September, the highest since June 2021. This was a rise from £4.4bn in August, and the highest figure since June 2021, when net borrowing reached a record of £17.1bn. Consumers borrowed an additional £0.2 billion in consumer…
Read more