The FCA is launching market study in Premium Finance because it has had concerns about the sector for some time. The regulator is concerned that premium finance may not represent fair value for some customers and that competition may not be functioning effectively. Rising premium prices may be making the situation worse.

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Source: FCA
Date: 22 July 2025

The Money Charity has published its statistics for July. The figures highlight that:

• inflation was 3.6%
• the average credit card debt per UK household was £2,616 in May
• the total unsecured debt per UK adult was £4,390
• the total debt, secured and unsecured, per UK household was £67,016.

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Source: The Money Charity
Date: 28 July 2025

The Bank of England (BoE) has published its latest Money and Credit statistics for the month of June. The key figures highlight that:

• net mortgage approvals for house purchases increased by 900, to 64,200 in June. Approvals for remortgaging also increased by 200, to 41,800 in June. This marked the highest number of approvals for remortgaging since October 2022 (50,000).
• net borrowing of consumer credit by individuals rose to £1.4 billion, from £0.9 billion in the previous month. Within this, net borrowing through credit cards increased to £0.7 billion in June, from £0.2 billion in May. Net borrowing through other forms of consumer credit remained broadly unchanged at £0.7 billion over the same period.

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Source: BoE
Date: 29 July 2025