Credit, Collections & Insolvency News
New research from Chase has found that two in five adults (39%) use the new tax year as an opportunity to reset and reassess their finances. The data showed that over half (52%) actively use this time to think about where they’re putting their money as their ISA allowance resets. Nearly half (44%) reset their…
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Research published by the Building Societies Association has shown that three-quarters (73%) of UK adults with Cash ISAs are against the Government scrapping or reducing Cash ISAs. Just 8% were supportive, and the others didn’t have an opinion either way. The analysis highlights that the majority of UK savers who currently save in Cash ISAs…
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New research by HSBC has found that boosting mental health is a key driver for adopting good saving habits, with one in three (31%) people in the UK confirming that they are less stressed when they are saving regularly. HSBC says that consumers will be using the ‘Twixmas’ period to lean into saving habits and…
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New research by the Building Societies Association has revealed that around half (48%) of all parents* have a secret savings account or have had one in the past, compared to just one in five (22%) of non-parents. The main reasons people admit to doing this are to maintain independence (40%), followed by wanting to be…
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A report from UK Savings Week shows that having a regular savings habit can help protect individuals and families from financial shocks, increase their chances of achieving long-term life goals, and generally improve their mental wellbeing. UK Savings Week, an annual campaign aimed at getting people engaged in the benefits of saving, commissioned the University of…
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Social media may be inspiring a new generation of savvy savers and fiscally responsible young adults, with 74% of Gen Z participating in social media-driven challenges to boost their overall savings according to research by NatWest Savings Index. In comparison to other age groups, Gen Z are the most likely of any generation to budget.…
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Research by Phoenix Group has found achieving a comfortable retirement is the top long-term savings goal for people in midlife, but many face an uphill challenge to meet this standard. Midlife is a key life stage which often prompts people to think about their future finances, with retirement less than 10 years away for some…
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New research by Chetwood Financial has found that two-thirds of people (65%) feel that big banks prioritise profits over supporting savers. The majority of consumers say they are unhappy with high-street banks, believing they have prioritised profits over passing higher interest rates on to savers and believe that mainstream banks are putting their profits ahead…
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One in four people (26%) say rising prices have forced them to eat into savings – and one in 20 (5%) say it has forced them to empty their accounts according to research by by Opinium for Hargreaves Lansdown. The research found that higher rate taxpayers are much more likely to have spent some at…
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Nearly three quarters (74%) of parents feel guilty they are not saving enough for their kids according to new research by leading financial mutual Scottish Friendly. A study of 1,000 parents found that nearly three quarters (74%) of parents admit to feeling guilty about their children’s savings. Nearly nine in ten (87%) worry about how…
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The Financial Conduct Authority (FCA) has told the UK’s largest banks to do more to improve returns for savers following months of criticism over the gulf between the cost of mortgages and rates offered on easy-access savings accounts. In a statement after the meeting with senior executives from Barclays, Lloyds Banking Group, NatWest and HSBC, the regulator said they had…
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Meagre savings rates offered by high street banks are shortchanging customers by hundreds of pounds every year compared to deals from challenger banks, Which? analysis of rates stretching back three years has found. The consumer champion’s in-depth research looked at six types of accounts: instant access savings accounts and Isas; one-year fixed-rate savings accounts and…
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