All the updated news related to consumer credit

All the news related to consumer credit updated in real time

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Consumer credit borrowing grows at fastest annual rate since lockdowns started

Households’ non-mortgage borrowing grew in January at the fastest annual rate since the start of the UK coronavirus lockdowns. The annual growth rate for borrowing using various forms of consumer credit accelerated to 3.2% in January, up from 1.5% ...

01 Mar 2022 at 12:25

Households ‘borrowing more and saving less’ amid surging inflation

Households are borrowing more and putting less money into savings, according to Bank of England figures. Some experts pointed to the statistics as evidence of people trying to maintain their lifestyles as their incomes are battered by high ...

01 Feb 2022 at 12:25

Consumer lending jumps to five-year high as squeezed households rely on credit

Consumer lending jumped to a five-year high last month as more UK households relied on loans to pay bills amid higher living costs, according to new data. But in better news for the housing market, mortgage approvals ticked up ...

31 Jul 2023 at 11:16

Personal Finance

Calls for limit on how often people can be contacted about missed payments

Stronger rules are needed to prevent borrowers who are behind on their payments from being overwhelmed with correspondence chasing their debts, according to consumer champion Martin Lewis and the Money and Mental Health ...

14 Dec 2023 at 00:01

City

Troubled Amigo to return to lending with new brand

Troubled sub-prime lender Amigo has set out plans to return to lending after a two-year hiatus marred by claims that it mis-sold loans. Shares in the business moved higher on Tuesday morning after it announced plans ...

28 Jun 2022 at 11:13

Personal Finance

Consumer Credit Act will be reformed ‘to keep pace with the modern world’

The Consumer Credit Act, which regulates credit card purchases and personal loans and dates back to the 1970s, is to be reformed to make it fit for modern life, the Government has announced. The move will cut costs ...

16 Jun 2022 at 14:33

City

Myprotein operator THG strikes deal with Frasers for consumer credit roll-out

Cult Beauty operator THG has announced a tie-up with retail giant Frasers Group, which will see millions of shoppers able to access buy now, pay later and loyalty rewards across its health and beauty websites. THG,...

24 Jun 2024 at 11:14

Millions set to miss out on car finance compensation after Supreme Court ruling

Lenders have avoided potentially having to pay compensation to millions of drivers after the Supreme Court ruled they are not liable for hidden commission payments in car finance schemes. Two lenders, FirstRand ...

01 Aug 2025 at 18:31

Lenders do not owe millions compensation over car finance, Supreme Court rules

Lenders have avoided potentially having to pay compensation to millions of drivers, after the Supreme Court ruled they are not liable for hidden commission payments in car finance schemes, but some motorists ...

01 Aug 2025 at 20:14

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