Lenders expect mortgage defaults to increase
Latest data from the Bank of England has found that lenders expect default rates on home loans to climb in the coming months, The data showed that mortgage default rates rose in Quarter 2 (Q2) with...
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Credit & Collections Industry Award winners revealed
The winners of the inaugural 2024 Credit & Collections Industry Awards have been revealed. There were thirteen winners (four of which were partnership wins) from the fourteen awards categories...
View ArticleOne in three expect household spending to increase
New research by StepChange Debt Charity ahead of the school summer holidays has revealed that almost one in three (29%), equivalent to around 15.5 million people, expect their household spending to...
View Article6.8m people struggling to pay for essentials
New research from the Money Advice Trust, the charity that runs National Debtline and Business Debtline, shows 6.8 million (13 percent) UK adults are struggling to pay for their essential costs, such...
View Article320,000 have been pushed into poverty by high mortgage rates
A new report from the Institute for Fiscal Studies (IFS) estimates that an extra 320,000 people have been pushed into poverty as they moved onto more expensive deals, as a result of the rise in...
View ArticleMoney Statistics: July 2024
Here is an overview of The Money Charity’s latest statistics for July 2024 Personal debt in the UK People in the UK owed £1,852.8 billion at the end of May 2024. The average total debt per household,...
View ArticleMortgage arrears improve for first time since mini-Budget
New data from Pepper Advantage, has shown that the overall rate of mortgage arrears growth has dropped to only 1.1% in Quarter 2 (Q2) 2024. This marks the third consecutive quarterly decrease in the...
View ArticleScottish council tax arrears rises
StepChange Debt Charity Scotland’s latest quarterly client data has revealed the ongoing pressure that council tax is having on households, as average council tax arrears per client in Scotland have...
View ArticleMore that a quarter have fallen into troubling financial behaviours
More than a quarter (27%) of consumers have fallen into troubling patterns with their finances, with many having engaged in risky financial behaviour over the last year, according to new research from...
View ArticleMiddle-earning households has the worst gaps in their finances
Latest data from Hargreaves Lansdown has found that middle-earning households has the worst gaps in their finances are in long-term planning aith almost two thirds score ‘poor’ or ‘very poor’ when it...
View ArticleMore than 2.7m debts referred to bailiffs by councils
More than 2.7 million debts were referred to bailiffs by local authorities in England and Wales during the 2022/23 financial year, according to new research conducted by the Money Advice Trust, the...
View ArticleOver 1.3m households no longer paying council tax
More than 1.3 million households in the UK are no longer paying council tax, resulting in local authorities failing to collect a record £6bn annually, according to a report by the Centre for Social...
View ArticleHome repossessions rise by 31%
The number of home repossessions has increased to the highest level in five years, data from UK Finance shows. The analysis shows that mortgage possession claims increased by 34% year-on-year in Q2,...
View ArticleMortgage possession claims increase 34%
Latest Ministry of Justice (MoJ) data has shown that mortgage and landlord possession volumes between April and June increased when compared to the same period last year. The data shows that mortgage...
View ArticleConsumers are feeling more confident about their household finances
Latest research by Which has found that consumer sentiment rose in the week following the general election, with consumers feeling slightly more confident about their household finances and the future...
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2024 Credit & Collections Industry Awards Review published
Credit Connect has published its first-ever annual Credit & Collections Industry Awards Review. The annual review highlights why the judges decided the winners at this year’s Industry Awards which...
View ArticleGovernment launches child poverty taskforce
Cabinet ministers including the Deputy Prime Minister, Chief Secretary to the Treasury as well as ministers for the devolved nations have joined the taskforce’s co-chairs, the Work & Pensions and...
View ArticleTwo fifths believe financial situation will improve in the next 12 months
Over two fifths (43%) of UK adults believe that their financial situation will improve in the next 12 months, new research by SmartSave, a Chetwood Financial company, has found. The digital bank...
View ArticlePre-payment households will be hardest hit by energy price rise
Millions of households across the UK will be left in the cold and dark this winter, with energy prices forecast to rise by more than £150 a year according to Fuel Bank Foundation. The Foundation says...
View ArticlePersonal insolvency numbers remain stable
Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures in July 2024 remained at similar levels to June 2024, but were 24% higher than...
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