UK Consumer Information

New figures release today from Barclay reveal that credit card spending in July rose by 9.9%.

July was the third month in a row where the annual rate in sales was above 9%.

A recent rise of £0.1 billion in credit card lending has caused concern for the Credit Action organisation, who are reminding consumers not to rely on credit even if the economy shows signs of improvement.

Figured from the Bank of England reveal that consumer credit credit in June fell by £0.1 billion, whilst in the same month credit card lending rose by the same amount.

Mortgage lending in the United Kingdom rise by 15% for the month of June according to new data published by the Council of Mortgage Lenders (CML).

Gross lending totals (which includes home buyers and remortgages), rose to £13.1 billion which is a 15% increase on May’s figure, making it the largest monthly figure so far this year.

UK consumers can now access their statutory credit report online for just £2, thanks in part to a recent agreement between the Department for Business, Innovation and Skills and the three major UK credit reference agencies: Experian, Equifax, and Callcredit.

Previously, consumers were only able to gain access to their statutory credit report in paper form for a £2 fee.

Credit reference agency Callcredit have today published a report which identifies areas in the UK that have a high and low risk of ID fraud.

Topping the list of 121 localities in the Britain is Sunderland, which has been listed as the most “at risk” area.

The research published today helps to highlight the scale to which fraudulent activity takes place across the UK.

Leading UK credit reference agency Equifax are urging consumers to ensure they are registered to vote in the run-up to May’s General Election.

Registering to vote will not only enable individuals to have their say on which Party will be next to run the Country, but being registered on the electoral roll also improves and individual’s credit status.

In some cases, consumers who are not registered could find it more difficult to get credit.

Equifax’s External Affairs Director, Neil Munroe, explained that, “A lot of people, particularly the younger generations such as students, aren’t aware that not being on the electoral roll at their current address can affect their credit score”.

Equifax have recently announced that consumers are now able to access their statutory credit report direct from their official website.

The announcement follows new Government guidelines which aim to give consumers easier access to their credit files.

The new guidelines will also enable consumers to to gauge how likely they are to be accepted for new credit such as loans, mortgages, or credits and enable to quickly spot any errors on their files.

The Government want everyone to have access to their credit report online by June 2010, with access to the report set at a maximum of £2.

UK credit references agencies Experian and Call Credit have both also announced plans to offer their reports online by the set June deadline.