More Archive News

Scottish Widows has launched ‘drip-feed drawdown’, a phased retirement income capability, which is available through its retirement account
20/04/2018
Collective defined contribution (CDC) pension schemes are either 10 years too early or 10 years too late, Aon Hewitt senior partner Kevin Wesbroom has said
20/04/2018
HM Revenue and Customs could assist the self-employed with pension savings through the tax return system, Royal London director of policy Steve Webb has said
20/04/2018
Tax chiefs have been criticised for refusing to raid the offices of a firm suspected of laundering huge sums of money seemingly because they donated money to the Conservatives
19/04/2018
During the second half of 2017, a total of 3.76 million complaints made to financial services firms were received, an increase of 427,032 on the first half of the year, new data from the FCA has revealed
19/04/2018
There is a significant number of advisers are now outsourcing investment management, with multi-asset funds and model portfolios built using external expertise now accounting for over 55% of assets, according to research in Aegon’s latest Adviser Attitudes Report
19/04/2018
Defined benefit transfers could cost companies £25bn due to members transferring out in order to access pension freedoms, according to Xafinity Punter Southall
18/04/2018
A single flat-rate of tax relief could help boost self-employed pensions and see 75 per cent of pension savers better off, the Royal Society of Arts (RSA) has said
18/04/2018
UK consumer price inflation fell in March to 2.5%, the lowest rate seen in 12 months, according to the Office for National Statistics
18/04/2018
Homeowners aged 55+ released £870m from the value of their homes between January and March 2018; an increase of 120% from the £394m seen in Q1 2016, according to the latest quarterly lending figures from the Equity Release Council (the council).

The data revealed a similar trend in the number of new customers, which has almost doubled during the same period, rising from 5,175 to 10,195, a 97% growth.
18/04/2018
Pension experts have criticised HMRC for failing to remove a flawed tax relief calculator, despite being aware that it was providing consumers with incorrect advice
18/04/2018
There are many options for millennials when it comes to getting on the property ladder, claiming that “an outdated view of mortgages and the property ladder persists amongst some audiences", Leeds Building Society has said
18/04/2018
It is "not the right time" to implement a pot follows member system into UK pensions, Pensions Minister Guy Opperman has said
17/04/2018
The pound has continued its recent strong run against the dollar, pushing firmly above $1.43 for the seventh consecutive session, resulting in the UK having the best performing currency this year among the G10 group of rich nations
17/04/2018
Total homeowner house purchases, including first-time buyers and home movers, reached 50,000 in February, the highest levels recorded in February since 2007, according to UK Finance’s latest mortgage trends update
17/04/2018
Invoice finance and asset-based lending stood at £23.4bn at the end of 2017, a 5% increase on the funds advanced at the end of 2016, according to figures published by UK Finance
17/04/2018
Over half of live easy access accounts pay less than the base rate at its current level of 0.50% - which means that anyone with one of these accounts cannot even keep up with the base rate, let alone CPI inflation, according to Savings Champion
17/04/2018
For the first two months of 2018, consumer spending saw the strongest reduction for the opening of a year since 2012, a trend that is looking likely to continue going forward, according to Visa’s UK Consumer Spending Index
16/04/2018
Only three of the top 17 master trusts offer pension tax relief to their lowest paid members, Hymans Robertson has revealed
16/04/2018
Robo advice for pension members would work better in data rich “big scheme environments”, but has yet to see good solutions in the at-retirement space, Aon has said
16/04/2018
The UK’s bridging sector ended in a strong position in 2017 with a particularly powerful performance in Q4, yielding a new high of £5bn, according to West One’s Bridging Index
16/04/2018
Increasing numbers of people are missing out on inheritance tax relief as a result of executing wills without legal advice
16/04/2018
Britons have been handed their first pay rise since the beginning of 2017 as a year-long squeeze on real incomes, stemming economic growth, comes to an end, data this week is expected to reveal
16/04/2018
A 'trap' in the tax system means HMRC is wrongly overcharging people thousands of pounds for drawing cash from their pensions, experts have warned
16/04/2018
Halifax research has revealed that today, 16 April, homeowners have earned on average a sufficient amount to cover their mortgage payments for the rest of 2018, based on the average annual mortgage repayment cost of £8,039 and an average annual income of £27,724
16/04/2018
Millions of pounds from dormant bank accounts are being invested in a pioneering fund aimed at lending to socially or environmentally friendly projects with no access to public markets
16/04/2018
Just one in seven (14%) of advisers feel that FAMR’s key measures are helping to close the advice gap, despite 33% agreeing that FAMR’s key measures are beneficial, according to research conducted by Aegon
13/04/2018
Legal & General has announced the launch of its new mortgage product, the Optional Payment Lifetime Mortgage (OPLM), designed to help the growing number of borrowers in retirement who are “trapped” between the traditional lifetime mortgage and residential mortgage markets
13/04/2018
A senior Bank of England (BoE) official yesterday said it should resist pressure to combine its financial and monetary policy committees due to fears of it diminishing the importance of difficult-to-measure stability concerns
13/04/2018
A senior city figure has warned that the UK risks being stuck with a “token minimalist” deal on financial services as part of the post-Brexit agreement with the EU in October
13/04/2018
The number of UK professionals fined for money laundering fell by 20 per cent last year after seeing record high figures in 2015/16
12/04/2018
Pension transfer values increased in March, mainly due to a drop in gilt yields over the month, Xafinity Punter Southall has reported
12/04/2018
Regulation since the financial crisis has imposed an annual cost of £26bn ($37bn) on the world’s largest investment banks’ capital markets activities, a recent study has found
12/04/2018
London’s housing crisis has continued as buyer demand falls for the 11th consecutive month, according to a new UK residential survey by the Royal Institution for Chartered Surveyors (Rics)
12/04/2018
J.P. Morgan Chase has been hit with a lawsuit in Manhattan federal court accusing it of charging unexpected fees when it stopped allowing customers buy cryptocurrency with credit cards in late January, and began treating the purchases as cash advances
12/04/2018
Last year, HMRC collected a record-breaking £4.9bn from IHT, and research from TIME Investments revealed that 36% of consumers aged 55 and over that seek financial advice from an IFA have not considered IHT planning, despite IHT taking 40% of a total qualifying estate
11/04/2018
Demand for Selectapension’s defined benefit transfer value analysis (TVAS) tool has outstripped demand for its money purchase tool for the first time, according to the investment software firm
11/04/2018
New Universal Credit claimants already in receipt of Housing Benefit will receive an additional two weeks’ support with their rent when their claim, ends to support them during the transition onto Universal Credit
11/04/2018
Women in drawdown face a 37% shortfall in their annual retirement income compared to men, resulting in them being over £47,000 worse off, according to report, Drawdown: Is it working for consumers?, from Zurich UK
11/04/2018
The Bank of England must explain the financial impact of monetary policy on society to aid the British public understand its decisions , chief economist Andy Haldane has said
11/04/2018
Former City trader Philippe Moryoussef facing charges that he helped to rig bank borrowing rates will be tried in absentia after he failed to attend court, arguing that he did not think he would get a fair trial
11/04/2018
The majority of defined benefit pension schemes have seen between 20-30 per cent of their non-pensioner members aged over 55 transfer out to access greater flexibilities, Willis Towers Watson has reported
10/04/2018
The PPF has recently released its monthly funding update, illustrating that the aggregate deficit of the 5,588 schemes in the PPF 7800 Index is estimated to have increased over the course of the month to £115.6bn at the end of March 2018
10/04/2018
Connect for Intermediaries has announced that it is going to provide all of its network members with a Financial Intermediary and Broker Association (FIBA) membership, as one of their benefits for being a Connect for Intermediaries representative
10/04/2018
HMRC is currently in the process of investigating 129 footballers over £250m worth of investments in a tax avoidance scheme, according to The Mirror
10/04/2018
The UK’s financial system is “under almost constant cyber-attack” according to a senior Bank of England official, with the regulator planning to introduce new standards for financial firms’ cyber security
10/04/2018
Greater London was the largest contributor towards stamp duty tax takes, at around 39%, with over £600m coming from two boroughs; Kensington and Chelsea and the City of Westminster
09/04/2018
After a “vibrant” 2017 for the bulk annuity market, expectations for 2018 are high with transactions potentially reaching £30bn, according to Aon
09/04/2018
One of the “biggest barriers” to changing governance and investment policy for defined benefit pension plans is the lack of financial resources, BlackRock has found
09/04/2018
The Financial Conduct Authority has reiterated its warning to firms offering “unsuitable pensions advice”, saying it will “not hesitate to intervene”
09/04/2018
Roughly 70% of financial advisers are willing to advise on investment portfolios of £50,000 or less, according to NS&I’s latest Financial Advice Barometer
09/04/2018
Savers planning to make ad-hoc pension freedoms withdrawals in the new tax year could be overtaxed by £3,000 on a £10,000 payment, and have to either wait at least 12 months to get the money back or contact HMRC to ask them to return it
09/04/2018
This year is set to be “the year of the IPO” and while London remains an attractive global hub for IPOs, despite Brexit concerns and trade wars, with a number of flotations already in the pipeline, according to J.P. Morgan head of equity capital for Europe, the Middle East and Africa Achintya Mangla
09/04/2018
Nearly 20 banks have committed to launching new European Union hubs in Frankfurt since the Brexit vote, while rival cities are still competing for the 60 firms that are yet to decide
09/04/2018
deVere Group has expanded its deVere Germany brand even further by opening offices located near Marienplatz, in an operation that will be headed by Glen Crossfill
06/04/2018
Asset management campaigner Gina Miller has criticised the new rules imposed by the FCA that are designed to help reduce the costs for end investors and improve transparency
06/04/2018
The second charge sector reached £1.02bn in 2017, the highest levels seen since the financial crash and a 9% growth over 2016. The market also experienced seven consecutive months of increased annualised lending, according to Enterprise Finance’s Second Charge Report
06/04/2018
There remains “much food for thought” for sponsors, trustees and advisers of defined benefit pension schemes when setting funding plans, Pensions and Lifetime Savings Association head of governance and investment Joe Dabrowski has said
06/04/2018
The FTSE 350 pension deficit has fallen by £4bn to £72bn in the first quarter of 2018, figures by Mercer show
06/04/2018
Millions of workers are set to have their income tax slashed under government changes that come into effect today
06/04/2018
Latest figures illustrate that, of the 10,000 companies that submitted gender pay gap data, 78% of them pay men more on average than women, while 14% of firms pay women more, according to the BBC’s analysis of the reports
05/04/2018
The government should allow Nest to provide decumulation products in order to drive competition from other providers, the Work and Pensions Committee has said
05/04/2018
The Work and Pensions Committee has called for pension providers to offer default decumulation pathways for its members
05/04/2018
The Financial Conduct Authority has been told to conduct a review that compares the outcomes of automated advice to traditional face-to-face appointments
05/04/2018
Rental payments across the UK accounted for 52% of the average disposable income of £1,471 for those living outside of London, with the average monthly rental payment coming in at £761 outside of the capital
05/04/2018
Over the last ten years, investing a full ISA allowance at the start of the tax year could have left you with almost £20,000 more than if she/he had waited until the last-minute to invest
05/04/2018
Six pension and finance companies, involved in the operation of occupational pension schemes, have been placed into provisional liquidation by the High Court
04/04/2018
Fund manager Neil Woodford has continued to suffer in 2018 as his flagship fund shrunk to a near three-year low. Woodford’s equity income fund assets slumped to £6.6bn as at the end of March
04/04/2018
SimplyBiz has completed its £130m listing on the London Stock Exchange, raising £65m
04/04/2018
The official UK pension incomes, as published by HM Revenue and Customs show a “shocking disparity” between regions, Royal London has argued
04/04/2018
UK private sector defined benefit pension scheme deficits were “largely unchanged” in the 12 months to March 2018, JLT Employee Benefits has found
03/04/2018
More than half of brokers (52%) said that they have used specialist lenders more frequently since the PRA’s new guidelines for portfolio landlords came into effect in October, according to new research from Kent Reliance
03/04/2018
Investors that are remaining in cash long-term risk poor returns and a loss in purchasing power, compared to investing in the stock market, according to research conducted by Royal London
03/04/2018
HSBC is being investigated over a £134m 'tax evasion' scheme created by the bank, The Times has revealed
03/04/2018
Young people should receive a "minimum inheritance" package of £10,000 when they turn 25, a think-tank has said
03/04/2018
Vida Homeloans has widened its B2L Expat criteria for a limited number of distributors to accommodate existing UK property owners working in FATF member countries across the globe, whilst its ‘EEA only’ B2L Expat product continues to be available to the entire market
03/04/2018
The proportion of Britons paying the highest rates of tax is now at a record level and double that of 20 years ago
03/03/2018
more 2 life, the equity release lender, has announced that recent “product innovations” and “technological advancements” has led to record levels of growth in Q1 2018
29/03/2018
Gross mortgage lending is forecast to continue growing in 2018, the eighth consecutive year in a row, to reach its highest level since 2007, with falling inflation to support the growth despite the uncertainty surrounding Brexit, according to the Intermediary Mortgage Lenders Association’s (IMLA) forecast, The New Normal: Prospects For 2018
29/03/2018
UK financial services “increasingly” feel as though risks will outweigh opportunities as Brexit draws nearer, according to the recent snapshot member survey by ACCA
29/03/2018
The rising auto-enrolment contribution rates next week, and in April 2019, are not likely to prompt a “significant negative behavioural response”, Nest Insight has claimed
29/03/2018
Lloyds Banking Group is to pay almost £3m to its former chief executive and another director after it lost a legal battle to withhold payments relating to the purchase of HBOS
29/03/2018
The average British consumer will waste more than £30,000 in their lifetime as a result of having lost track of monthly direct debits, a new study has shown
29/03/2018
A “simple solution” of withdrawing only the natural yield from a drawdown product to live on, known as guided drawdown, has been proposed as a fix to the retire-as-you-go generation’s desire for flexibility combined with life-long income
28/03/2018
Oliver Wade looks at how a rising base rate could affect the UK mortgage market
28/03/2018
Debt on UK credit cards is growing at the quickest rate recorded in the past 12 years, according to the figures published by UK Finance
28/03/2018
Just over 1 in 3 (37%) of all drawdown is sold on a non-advised basis, though the percentage is higher for small pots and much lower for large pots
28/03/2018
Nucleus and Zero Support managing partner Phil Young have partnered up to launch a white paper on the General Data Protection Regulation (GDPR) specifically targeted at financial advisers
28/03/2018
Twitter has become the latest social media platform to disallow advertising relating to cryptocurrency on its webpage, resulting in Bitcoin’s value plummeting below $8,000
28/03/2018
The High Court has found that Capital Alternatives, Renwick Haddow, Marcia Hargous and Robert McKendrick and others should pay a total of £16.9m in compensation for their roles in four unauthorised collective investment schemes (CIS’s), which were unlawfully promoted to the public
27/03/2018
Over two in five, 42 per cent, of businesses state that their ability to recruit and retain staff has been improved by their pension scheme, it has been reported
27/03/2018
HM Revenue & Customs has confirmed it will maintain the requirement for savers giving up
‘safeguarded’ benefits worth £30,000 or more when transferring to an overseas pension scheme to take regulated advice from a UK-based adviser
27/03/2018
Only 35% of working consumers believe that they have seen an increase in their household income over the past 12 months, according to the latest Lloyds Bank Spending Power Report
27/03/2018
MPs are set to scrutinise the VAT system to examine why the tax man is failing to collect billions as part of a trio of investigations launched by the Treasury Select Committee
27/03/2018
Purchases of investment companies by advisers and wealth managers on adviser platforms in 2017 reached a record £990m, according to latest research published from the AIC using Matrix Financial Clarity
27/03/2018
Scammers and criminals have been using a variety of “sophisticated” methods in order to con people over the age of 50 out of their savings. Retirement Advantage has warned that people need to be “wary of unsolicited approaches” by email, telephone, text messages or in writing
27/03/2018
Gross mortgage lending in February was estimated to have been £19bn, 4.9% more than the previous year but below the monthly average of £21.4bn seen throughout 2017, according to the figures published in the Lending Update by UK Finance
26/03/2018
The Financial Conduct Authority has backtracked on its proposal to remove the assumption for advisers that a defined benefit pension transfer is unsuitable, instead launching a consultation on whether a ban on contingent charging is needed
26/03/2018
Both private and public bodies have been instructed to publish their gender pay cap for the first time, with a deadline of 4 April 2018 set. Those who do not meet the deadline could face legal action and an “unlimited fine” set by the courts, the Equality and Human Rights Commission (EHRC) has said
26/03/2018
London and New York remain at the top of the global financial centre rankings and the gap between them in ratings closed to one point on a scale of 1,000
26/03/2018
Those who choose to avoid raising pension contributions post April 2018 could potentially lose out on over £250,000 over the course of their working life, according to Fidelity International
26/03/2018
Pension savers are losing thousands of pounds from their pension pots as a result of high investment charges on drawdown schemes
26/03/2018
Companies that have passed RLAM’s sustainable investment criteria returned 10.2% per annum over the past five years, a total of 62.1%, compared to a 9.5% annual return from the FTSE 100, according to analysis by Royal London Asset Management, which suggests that “investing sustainably can outperform the market”
26/03/2018
Interest rates are set to hit 2% by 2021, Bank of England policymaker Gertjan Vlieghe has warned
26/03/2018
In 2016/17, 28% of people owned their own home, with a mortgage, compared to 37% in 2006/07.
23/03/2018
Forty per cent of default funds are still targeted to annuities, which could be leaving members exposed to “unintended investment risks”, according to Aon
23/03/2018
Almost 30 per cent of eligible employees don’t understand or are unsure of the benefits of auto-enrolment, the Department for Work and Pensions has found
23/03/2018
The financial ombudsman has agreed to hold an inquiry into allegations of bias against consumers and claims that its staff are inadequately trained amid fears that complaints may have been mishandled
23/03/2018
As the help-to-buy (H2B) scheme is approaching its fifth anniversary, many homeowners who took advantage of the Governments’ interest free loan will be facing hefty charges come April
23/03/2018
The 2018 MoneyAge Awards are now open for entries
22/03/2018
The Bank of England left interest rates unchanged today at 0.5%, but two committee members broke consensus and voted for an immediate rise to 0.75%
22/03/2018
deVere Group has opposed Twitter chief executive Jack Dorsey by stating that “Bitcoin will not become the world’s sole currency in 10 years”
22/03/2018
Credit card and loan debt is preventing more than one in five over-65s from enjoying retirement as they struggle to maintain their standard of living with one in seven (14%) relying on credit cards to boost their income in retirement, new research from over-55s financial specialist Key Retirement shows
22/03/2018
The newly proposed Pension Superfund that will consolidate the pension assets and liabilities of UK defined benefit schemes looks to offer an “affordable solution” for employers to fulfil pension promises
22/03/2018
Around 700,000 more pensioners could be living in poverty in 2050 if the pensions triple lock is scrapped, a new report has revealed
22/03/2018
HMRC collected a “record high” £5.3bn through inheritance tax (IHT) last year, according to leading private client firm Wilsons
22/03/2018
The government is to launch an independent inquiry into the operations of the Financial Reporting Council
22/03/2018
January 2018 saw a growth in the consumer finance new business market, with an increase of 12 per cent compared to the same month last year, according to the Finance & Leasing Association (FLA), resulting in a recorded £8,212m being lent
21/03/2018
A group made up of M&G Prudential, Invesco, GAM, Blackrock, Legal & General and Eden Tree have clashed with Aviva over its plan to cancel £450m of preference shares, many of which are owned by pensioners
21/03/2018
Second charge mortgage new business volumes increased by 13 per cent in January 2018 compared to the same period the year before, resulting in a value growth of 8 per cent, equating to £76m and 1,645 new deals, according to the Finance & Leasing Association (FLA)
21/03/2018
The FCA has today published its Approach to Supervision and its Approach to Enforcement
21/03/2018
PerfectHome has agreed with the FCA a package of redress totalling over £2.1m
21/03/2018
The EU has ruled out government demands for special treatment for the UK financial sector
21/03/2018
The Financial Conduct Authority and The Pensions Regulator have revealed plans on how they will work together over the next decade, in a bid to tackle low levels of retirement saving
21/03/2018
Over seven out of 10, 71 per cent, of defined contribution pension holders are unaware of the charges they are paying, the Financial Conduct Authority has found
20/03/2018
Housing prices in the UK have grown by 4.9% since January 2017, according to the UK housing pricing index (HPI), with Scotland and the East Midlands seeing the largest growth at 7.3%
20/03/2018
Collectively, UK households will need to spend an additional £21.2bn to maintain the current standard of living for the next year, according to Retirement Advantage
20/03/2018
Hargreaves Lansdown (HL) has won a challenge presented to HMRC over “discount tax”, which saw around 150,000 investors receiving at least £15m back after being taxed on their annual management fees, known as loyalty bonuses, since March 2013
20/03/2018
The Department for Work and Pensions (DWP) is to launch a consultation this year on the legislative framework and authorisation regime to enable the establishment of commercial consolidation vehicles for DB schemes, its Protecting Defined Benefit Pension Schemes white paper has revealed
20/03/2018
Due to stamp duty increasing by 3% on buy-to-let (B2L) investments, 69 per cent of landlords have been “put off” investing in further rental property, according to the Residential Landlords Association, despite rented homes becoming the “norm” in the UK
20/03/2018
The government has dropped plans to allow defined benefit pension schemes to change their indexation, whilst highlighting the British Steel Pension Scheme's arrangement as an alternative “positive outcome”
19/03/2018
The Department for Work and Pensions (DWP) has confirmed its intention to legislate to introduce a criminal offence against those found to have committed “wilful or reckless behaviour” in relation to a pension scheme
19/03/2018
February 2018 saw mortgage approvals fall by 1.25% compared to the previous month and 2.6% lower than in February 2017, according to e.surv’s latest mortgage monitor
19/03/2018
The UK has a tax burden of 38% of GDP, 76% higher than the average rate for the major emerging BRIC (Brazil, Russia, India and China) economies (21.8%), research has shown by accountancy group UHY Hacker
19/03/2018
Schroders chief executive Peter Harrison saw his total pay packet jump by 12% last year
19/03/2018
Capita is expected to strip its former boss Andy Parker of an £845,000 cash bonus
19/03/2018
The finance minister of Luxembourg has called on the EU to “be creative” by offering a unique deal that will protect financial services in Britain and on the Continent
19/03/2018
Large numbers of householders may be “in too deep” with their borrowing, FCA director of supervision Jonathan Davidson said
19/03/2018
Mortgages in the UK have reached their most affordable level in a decade, according to new research from Halifax, despite house prices rising by 3% in the past year
19/03/2018
Banks and card companies prevented £1,458.60m in unauthorised financial fraud last year, equivalent to £2 in every £3 of attempted unauthorised fraud being stopped, latest data from UK Finance has shown
19/03/2018
Recent figures published in a report on the same day as the Spring Statement reveal “catastrophically low” numbers have opted into a scheme to prevent their support for mortgage interest (SMI) benefit being cut off in April
16/03/2018
The UK banking system could continue to support the real economy through a disorderly Brexit, the Bank of England has said
16/03/2018
HSBC’s women are paid 60% less than its men, according to gender pay gap data, revealing one of the biggest differences among the largest UK banks and also an increase over 2017’s reported 59%
16/03/2018
Onesavings Bank announced a 21 per cent full-year pre-tax profit yesterday achieving £167.7m, beating its 2017 forecast of £162.8m and crushing its 2016 profit of £138.2m
16/03/2018
Leeds Building Society has announced that it will be lending on more properties on a site, up to a maximum of ten sites or 25% of available units, whichever is greater, to support the government’s affordable housing policy; and more...
16/03/2018
The bulk annuity market could hit £30bn in 2018 as providers overcome the “missed opportunities” of 2017, Aon has said
16/03/2018
Defined benefit transfers will “come to a head when stockmarkets fall”, an expert on a roundtable of pension specialists has predicted
16/03/2018
A demand for specialist residential mortgages is being “driven by a diverse set of customer needs”, primarily from those that are self-employed, according to Paragon’s Q4 2017 FACT index report, involving 198 mortgage intermediaries
15/03/2018
Workers on national average earnings will be contributing over 20 per cent of their disposable income under auto-enrolment by 2019, leaving millions of pension savers facing an affordability crisis
15/03/2018
Prudential is set to separate from M&G Prudential to create two separately-listed companies
15/03/2018
The Government will need to introduce a tax increase of £41bn per year to keep government spending stable, whilst also achieving Chancellor Philip Hammond’s targets, according to the Institute for Fiscal Studies (IFS)
15/03/2018
Downing Street has signalled a retreat in the face of a public backlash around its plans to scrap 1p and 2p coins
15/03/2018
Signs are emerging that the Treasury is considering the withdrawal of 1ps, 2ps and the £50 note
14/03/2018
The number of remortgages in January 2018 reached a nine-year high while the number of first-time buyers and home movers both increased compared to the same period in the previous year, UK Finance’s latest mortgage trends update has revealed
14/03/2018
Pressure is rising for an inquiry into the Financial Ombudsman Service (FOS) ‘failings’ around ‘mishandled complaints’
14/03/2018
Best buy ISA rates have fallen by up to 61% since the introduction of the Funding for Lending Scheme in July 2012, according to Savings Champion
14/03/2018
Rothesay Life is to purchase a £12bn annuity portfolio from Prudential, covering around 400,000 policyholders, in the largest transaction of its type in the UK
14/03/2018
UK borrowing is forecast to be £45.2bn this year, £4.7bn lower than forecast last November and the country has experienced its first sustained fall in debt for 17 years, Chancellor Philip Hammond has said
13/03/2018
Barclays Bank issued £22.2m worth of shares to its senior executives yesterday, despite not hitting their profit expectations and posting a loss of £1.9bn in 2017
13/01/2018
The total amount of equity release by homeowners so far in 2018 is more than double (132%) the total amount released during the same period in 2017, according to equity release provider Responsible Equity Release
13/03/2018
Six in ten people without any exposure to cryptocurrencies would consider introducing cryptocurrencies, such as Bitcoin, into their investment portfolio, revealed a global poll
13/03/2018
The minimum auto-enrolment increase to 5 per cent next month will not lead to large-scale opt-outs by members, according to Royal London
13/03/2018
Vida Homeloans has launched a new ‘Vida Premier’ range, covering both residential and buy to let mortgages, with rates starting from 2.79% for specialist residential businesses and an LTV of up to 70%, and 2.89% for specialist buy to let businesses, also with a 70% LTV
13/03/2018
HM Treasury forecasts that it will benefit from an additional £5.1bn in a ‘bonus’ tax take by April 2019 as a result of the pension freedoms policy of 2015
12/03/2018
The head of Beaufort Securities, Tanvier Malik, has claimed he injected more cash into the broker just days before it was shut down by the FCA over growing concerns it was insolvent
12/03/2018
NS&I have today announced an increase of their Junior ISA interest rates by 25 basis points to 2.50% tax-free
12/03/2018
Capita is planning a £700m asset sale as part of a balance sheet shake-up
12/03/2018
AJ Bell yesterday announced that it has appointed Numis Securities to explore an IPO on the primary market of the London Stock Exchange, with a float estimated to be “upwards of £500m”, according to the firm
12/03/2018
Former Barclays staff have lost their fight to prevent the bank moving its past pension promises away from its core retail banking business
12/03/2018
Yesterday Chancellor Philip Hammond said there was a “light at the end of the tunnel” for the UK’s public finances, but indicated that he will not be making adjustments to the fiscal regime
12/03/2017
The drop in the lifetime allowance has led to a 2,100% increase in the government’s tax take, in the 16/17 tax year compared to the 06/07 tax year, a freedom of information request from Old Mutual Wealth has shown
12/03/2018
The pensions and asset management industry has been "tarred with the brush of the financial services industry", leading to a lack of trust among the public, SCM Direct co-founder and transparency and ethics activist Gina Miller has claimed
09/03/2018
Lady Barbara Judge has been suspended from her role as IoD chair following accusations against her of sexism, racism and bullying
09/03/2018
2018 is set to be “year one” of a new post financial crisis era, as growing profits from the UK’s largest banks will absorb the economic and political shocks from 2018, according to top ratings agency, S&P Global Ratings
09/03/2018
Lloyds Banking Group has launched its £1bn share buyback programme
09/03/2018
TMA Club launches AML checks through Smartsearch and more...
09/03/2018
Shadow chancellor John McDonnell has slammed Chancellor Philip Hammond’s speech on the financial services industry, arguing that this priority was to protect financial services, rather than ensuring a good deal for every sector
09/03/2018
Sin stocks such as tobacco are increasingly posing potential regulatory risks to pension scheme portfolios, it has been noted
08/03/2018
The assertion that financial services cannot be part of a free trade agreement between the UK and the EU post-Brexit must be challenged, Chancellor Philip Hammond has said, highlighting that it is not a “zero-sum game, where any loss of market share in London is automatically a gain to another EU Capital"
08/03/2018
Eighty-per cent of employers feel as though their employees are not saving enough for their retirement, according to a study conducted by WEALTH at work
08/03/2018
Lloyds TSB agreed to “remove” £800,000 of fees due to be paid to PwC from its 2008 accounts in order to avoid breaching internal rules governing auditor independence, according to documents revealed in a High Court battle
08/03/2018
The FCA has today announced that Alex Hope has pleaded guilty to perverting the course of justice
08/03/2018
Women experience higher levels of debt, more career breaks and lower paid work, according to statistics released by HMRC on 6 March 2018. The figures indicate that, on average women not only earn less, but their income peaks at a much younger age
08/03/2018
Thousands of people who took advantage of the government’s Help to Buy mortgage scheme could be facing expensive fees on their existing loans, as they near the end of their five-year interest free period
07/03/2018
Total pension liabilities of the UK rose by just over £1trn, to £7.6trn, between 2010 and 2015, latest figures published by the ONS have shown
07/03/2018
The preference for longer-term mortgage products has overtaken two-year deals for the first time in five years, with 48% of mortgage customers choosing a term of five years or more during Q4 2017, compared to 41% in Q3 2017, according to Paragon’s FACT (Financial Adviser Confidence Tracking) index report
07/03/2018
A pensions cold calling ban is to be put in place by June this year, as the government has tabled an amendment to the Financial Guidance and Claims Bill
07/03/2018
Anyone with offshore assets is being warned to make sure they disclose them, or they could face new, tougher penalties
07/03/2018
House prices in the last three months to February were 1.8% higher than in the same three months a year earlier, slowing from the 2.2% annual growth recorded in January, according to the latest Halifax House Price Index
07/03/2018
Fully investing the maximum ISA allowance (£186,560) with a lump sum investment each year in the average investment company since ISAs were introduced in 1999 would have grown to £436,894 by the end of February 2018, research from the Association of Investment Companies has shown
07/03/2018
Vida Homeloans has introduced a new maximum LTV of 90% for first time buyers on its specialist residential range, along with a 100% discounted purchase price for right to buy and a new maximum loan amount of £1.5m
07/03/2018
People of all generations should contribute towards the rising costs of health and welfare and suggests introducing higher capital taxes to avoid “putting the entire tax burden on young people who are already struggling to match the living standards gain of older generations”, according to Resolution Foundation executive chair Lord David Willetts
06/03/2018
The Pensions Regulator has appointed David Fairs as its executive director for regulatory policy, analysis and advice, effective July 2018
06/03/2018
Hermes Investment Management has recognised that to close its gender pay gap of 30.2%, it needs to “increase senior female representation across the firm”
06/03/2018
NS&I is cutting the rate on its 3-year guaranteed growth bonds from 2.2% to 1.95%, and the rate on its 3-year guaranteed income bonds from 2.15% to 1.9% on 10 April 2018
06/03/2018
Bankhall, a firm that provides support to regulated financial advisers, is “urging advisory firms not to delay embedding the new MiFID II aggregated costs and charges requirements”
06/03/2018
The FCA has banned the former chair of Co-op Bank from the financial services industry
06/03/2018
A radical simplification of the UK’s ISA framework should be implemented as soon as possible, a Committee comprising MPs and industry experts has said
06/03/2018
“Informed inertia” is required to ensure that members remain auto-enrolled up to and following the planned contribution rises this year and in 2019, Now Pensions director of policy Adrian Boulding has said
06/03/2018
Defined benefit transfer values remained stable throughout February, rising by just £1,000, according to the Xafinity Transfer Value Index
06/03/2018
An IHT gifting allowance update to £11,000 could cascade £82.6bn to lower generations, Old Mutual Wealth has said
05/03/2018
Tax bands should be scrapped to allow a more progressive system that would give money back to most taxpayers while raising the same amount of revenue, according to the Institute for Public Policy Research
05/03/2018
The FCA has fined Guillaume Adolph £180,000 and banned him from performing any function in relation to any regulated financial activity
05/03/2018
Liberal Democrat pensions spokesman Stephen Lloyd has called for a ban on contingent charging for advice on pension transfers following the scandal surrounding the British Steel Pension Scheme (BSPS)
05/03/2018
Trustees are using pension schemes’ funds to pay for independent financial advice for their members, it has emerged
05/03/2018
Two thirds (68%) of new mortgages approved in 2017 were with the Big Six lenders, amounting to just over 1 million in total, according to research from online mortgage broker, Trussle
05/03/2018
Two friends lost more than £650,000 of their retirement pots as a result of the recommendations given by their financial adviser, who has now liquidated his firm, Knightsbridge Financial Management, and set up a new business, Knightsbridge Personal & Corporate Solutions.
05/03/2018
Over 39% of ‘second-time buyers’ (second steppers) are concerned about interest rates increasing and 35% believe that it will be more difficult to sell their home this year, according to Lloyds Bank, which has recently launched their Second Stepper report
05/03/2018
Investors are set to be paid £34m in compensation from asset managers overcharging them for investment funds, with another asset manager being pursued by the FCA
05/03/2018
“Welcome news for savers with cash in the bank can be a warning of challenges ahead for shares and bonds”, SVM Asset Management has reported
02/03/2018
Cryptocurrencies are “failing” in fulfilling the roles of money, Bank of England governor Mark Carney has stated
02/03/2018
OneSavings Bank revamps ICR requirements; Newbury Building Society joins Legal & General Mortgage Club; and more...
02/03/2018
The government yesterday hit its target on reducing the deficit in public finances – two years after former Chancellor George Osborne initially promised
02/03/2018
An average defined contribution pension pot could grow by 30 per cent as the minimum auto-enrolment contribution rises to 5 per cent in April
02/03/2018
The Competition and Markets Authority has published a working paper on its investigation into investment consultants’ fees and quality, finding that information on fees for trustees is “limited”
02/03/2018
The MoneyAge website has been re-designed ensuring all our readers have a smoother news experience
01/03/2018
Mortgage approvals for both property purchasing and remortgaging increased in January by 9.3% and 5.4% respectively, figures released by the Bank of England (BoE) revealed today
01/03/2018
Annual house price growth has slowed to 2.2% and prices are falling 0.3% month-on-month, according to Nationwide’s most recent house price index (HPI) for February 2018
01/03/2018
The Post Office Limited Section of the Royal Mail Pension Plan has secured its defined benefit liabilities through a £450m bulk annuity transaction with Rothesay Life
01/03/2018
The Minister for Pensions Guy Opperman has admitted that the April rise to auto-enrolment contributions is his “biggest hurdle” to implementing the government’s 2017 AE Review recommendations
01/03/2018
Auto-enrolled members of workplace pension schemes have been largely “side-lined” out of investment decisions, with only one UK provider having a member on its board, it has been highlighted
01/03/2018
The deficit of all UK private sector schemes has fallen by £75bn in the 12 months to 28 February 2018, JLT Employee Benefits has reported
01/03/2018
From tomorrow, 1 March 2018, all pension providers offering an annuity option to scheme holders will be required to show a market comparison alongside their offer, allowing consumers to judge whether they are being offered the best package
28/02/2018
The government is "pressing ahead to accelerate the state pension age" on a "flawed basis", Shadow Secretary of State for Work and Pensions Debbie Abrahams has said
28/02/2018
“There have been some real barriers to women investing”, SavvyWoman founder, Sarah Pennells, has said at a roundtable in London this week
28/02/2018
Annual revenues from unarranged overdrafts among five of the largest providers were around 200 per cent of the average amount outstanding, according to FCA chief executive Andrew Bailey
28/02/2018
Personal pension contributions hit a record high in 2016/17 with £24.6bn being paid into personal pensions – up from £24.3billion in 2015/16
28/02/2018
The overall cost of tax relief rose only slightly from £38.5bn in 2015/16 to £38.6bn in 2016/17, representing a stabilisation after some large increases in previous years, according to latest figures
28/02/2018
The FCA has today published its final policy statement on new rules for the credit card market. The FCA estimates the changes will save consumers between £310m and £1.3bn a year in lower interest charges
27/02/2018
The FCA has today imposed a fine of £1,976,000 on credit card lender, Vanquis, for failing to disclose the full price of an add-on product, called Repayment Option Plan (ROP)
27/02/2018
Annuity pricing for 2018 is set to remain attractive as it continues to deliver better yields than comparable low-risk assets for pensioner transactions, Aon has found
27/02/2018
Many workers face a “pension lottery” when retiring, the TUC has warned
27/02/2018
Three warnings have been issued around the failure to meet the LISA transfer deadline
27/02/2018
UK savers would be £46bn richer today if they had invested in stocks and shares ISAs rather than cash ISAs, suggests data compiled by UBS Smartwealth following Freedom of Information requests
27/02/2018
A 1% interest rate rise would add £10bn to the UK’s mortgage bill, ultimately adding £930 a year to the cost of servicing the average mortgage, according to new analysis from international property adviser, Savills
27/02/2018
The founder of Retirement Income Alliance Malcolm Small has died at the age of 62
26/02/2018
Credit card spending in January 2018 was 5.8% higher than what it was in January 2017, UK Finance has found. However, due to higher repayment levels, the pace of borrowing saw a minor change with an annual growth of 4.8%
26/02/2018
During the period leading up to the implementation of MiFID II last month, Adviser Rankings found that brokers specialising in the mid-cap space experienced the fastest growth in clients
26/02/2018
The former financial director of Carillion, Richard Adams, "dumped" all of his shares in the outsourcing firm for £776,000, just a few months before its share price tanked, it has been revealed
26/02/2018
The UK’s new open banking initiative may provide a £1bn boost to the economy, according to a new study from the Centre for Economics and Business Research (CEBR) and Trustpilot
26/02/2018
Aberdeen Standard Investments is setting up a new EU base in Dublin to mitigate the fallout of Brexit
26/02/2018
UK master trust Now: Pensions has been put up for sale following continued administration problems, it has been revealed
26/02/2018
The finance director of Carillion, Richard Adam, thought funding the firm’s pension schemes was a “waste of money”, it has emerged
26/02/2018
Former BHS owner Dominic Chappell has been told to pay £87,170 for breaching Section 72 notices under the 2004 Pensions Act, it has been revealed
26/02/2018
Over 750,000 people nearing retirement are at risk of leaving their pension to the wrong person when they die, according to research carried out by Royal London, and those aged between 55 and 64 are most vulnerable
26/02/2018
The expected annual income for divorcees retiring in 2018 is £17,600 compared to £21,400 for those who have never been divorced, Prudential has found
23/02/2018
MPs are calling for new transparency measures to tackle tax avoidance in overseas territories
23/02/2018
Those on volatile incomes , such as zero-hour contracts or in part-time work, are five times more likely to turn to high-cost credit products such as rent to own and doorstep lending, Citizens Advice has recently found
23/02/2018
Asset managers are looking to clamp down on the controversial ‘last look’ practice which allows banks and brokers to reject orders even after a price has been agreed
23/02/2018
UK GDP growth rose by just 0.4% in the fourth quarter of 2017, 0.1 percentage points down from its first estimate, according to the Office for National Statistics
23/02/2018
Standard Life Aberdeen is to sell its insurance business to Phoenix Group in a £3.2bn deal
23/02/2018
Brilliant Solutions, the specialist provider of solutions for mortgage intermediaries, has add-ed Masthaven to its panel of lenders
23/02/2018
RBS, which is majority-owned by the taxpayer, has announced a statutory profit of £752m in 2017. The bank hasn’t seen a full year of profitability since 2007, and this is a vast improvement over the £7bn loss posted in 2016
23/02/2018
InterBay Commercial, part of specialist lending group OneSavings Bank, has decided to extend its residential investment and commercial bridging finance proposition to its entire broker panel, allowing a much wider market to take advantage of their offer, following a successful trial in 2017
22/02/2018
The FCA is introducing new measures to encourage consumers looking to buy a lifetime income through an annuity at the point of retirement to shop around
22/02/2018
AJ Bell has held a beauty parade of investment bankers in the last few weeks to prepare for an initial public offering (IPO), Sky News has reported.
22/02/2018
NatWest is testing an artificial intelligence-powered "digital human" to help customers with basic banking questions, raising the possibility of further job cuts at the state-controlled bank
22/02/2018
The Treasury Committee is today launching a new inquiry into digital currencies
22/02/2018
Only small changes to existing law is needed to introduce collective defined contribution schemes and all members will have the right to transfer out, it has been claimed
22/02/2018
The number of pension credit claimants has dropped to 1.8 million as of August 2017, according to the latest statistics from the Department for Work and Pensions
22/02/2018
HM Revenue and Customs has clarified the rules around pensions tax relief for the new Scottish income tax bands, allowing those paying the intermediate rate of 21 per cent to claim back the additional 1 per cent due on their contributions
22/02/2018
Lloyds Banking Group has announced plans to increase its financial planning and retirement market by a million customers and increase its open book assets by £50bn in three years
21/02/2018
There is a “strong case for legislation” for the pensions dashboard, the Department for Work and Pensions has confirmed
21/02/2018
London’s mortgage market remains competitive, with strong growth in the number of home movers and remortgaging reaching an eight-year high, according to UK Finance
21/02/2018
Half of cash Isa savers aged over 55 have never transferred their accounts to obtain a better rate while two in five say they won’t switch, Charter Savings Bank has said
21/02/2018
The FCA’s incoming chair Charles Randell has been quizzed over his involvement in a tax avoidance scheme, telling MPs it is an “error of judgement”
21/02/2018
Blame and responsibility is being disproportionately placed upon the advice sector, following the Work and Pensions Select Committee’s report on the British Steel pension scheme, the Personal Finance Society has said
21/02/2018
The FCA has today announced that it is seeking views on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide
20/02/2018
A bespoke Brexit deal on financial services "cannot be the outcome of negotiations" according to EU parliament’s Brexit chief
20/02/2018
More than two thirds of income taxpayers will pay less tax next year on their current income, Finance Secretary Derek Mackay has confirmed as MSPs prepare to debate proposals to reform income tax in Scotland
20/02/2018
AJ Bell has launched an active management version of its Managed Portfolio Service for financial advisers
20/02/2018
HSBC has posted $21bn of adjusted profit before tax in 2017, 11% up on the previous year, but below analyst expectations
20/02/2018
UK homeowners took more than three times the average annual UK salary out of their properties in January, according to the latest figures from equity release provider Responsible Equity Release
19/02/2018
Almost 80 per cent of pension savers have called for stricter checks to prevent scams, the Pensions and Lifetime Savings Association has found
19/02/2018
The Financial Services Compensation Scheme (FSCS) is aware that Active Wealth (UK) Ltd is in creditors’ voluntary liquidation, and is preparing to declare the firm in default
19/02/2018
The profits being racked up by Private Finance Initiative (PFI) companies should be subject to a new windfall tax, so much-needed resources can be put back into the UK’s cash-strapped public services, UNISON has said today
19/02/2018
The number of small deposit borrowers being approved has increased, according to e.surv’s latest Mortgage Monitor, with 21% of all approvals now going to this part of the market
19/02/2018
Equity release lender, more 2 life, has announced an additional feature to its Capital Choice Plan for joint borrowers
19/02/2018
The end of term funding scheme is set to come to an end in nine days, meaning banks will no longer be able to access cash at reduced repayment rates from the Bank of England, which will subsequently increase the banking sector’s reliance on savers’ cash to supplement this source of funding, according to Insignis Cash Solutions.
19/02/2018
The biggest decline in homeownership has been among young adults with middle incomes, new research has shown
16/02/2018
The government should give £10,000 to every citizen under 55, a report published by The Royal Society for the encouragement of the Arts, Manufactures and Commerce has said
16/02/2018
The Committee has told the FCA to ban contingent charging, which it claims is a “key driver of poor advice” in its report on the British Steel Pension Scheme
16/02/2018
The British Steel Pension Scheme has processed £1.1bn of defined benefit pension transfers since March 2017, with the Work and Pensions Committee stating that members have been “shamefully bamboozled”
15/02/2018
7IM launches retirement planning service, new Innovative Finance ISA launched; and more...
15/02/2018
The FCA is to collect data from all firms who hold the pension transfer permission with a view to assessing practices across the market, the regulator’s director of supervision Megan Butler has said
15/02/2018
Scottish Widows and Lloyd’s Banking Group's wealth businesses have terminated over £100bn worth of partnership agreements with Standard Life Aberdeen
15/02/2018
The Serious Fraud Office has today charged Barclays Bank with unlawful financial assistance contrary to s151(1) and (3) of the Companies Act 1985
14/02/2018
The UK’s personal tax system has a number of inconsistencies when it comes to promoting the institution of marriage, Blick Rothenberg accounting, tax and advisory practice partner Nimesh Shah said
14/02/2018
Solicitors are being targeted by organised criminals during property purchases as it emerged red flags over home transactions surged 66% in two years, according to anti-money laundering and big data specialists Fortytwo Data
14/02/2018
Rising gilt yields causing a fall in liabilities has helped the PPF 7800 deficit to fall by more than half over January, the Pension Protection Fund has revealed
14/02/2018
The number of employers meeting their workplace pension duties has hit one million, new figures show
13/02/2018
The Financial Conduct Authority and the Prudential Regulation Authority have today announced the appointment of Marshall Bailey as chair of the Financial Services Compensation Scheme (FSCS) with effect from 1 April 2018
13/02/2018
The amount paid out from pension pots to relatives of deceased pensioners is up 33% in a year, new data from Salisbury House Wealth has shown
13/02/2018
The amount paid out from pension pots to relatives of deceased pensioners is up 33% in a year new data from Salisbury House Wealth has shown
13/02/2018
The number of first-time buyers annually increased by 7.4% from 340,000 in 2016 to 365,000 in 2017, according to latest figures published by UK Finance
13/02/2018
UK inflation (CPI) grew by 3% in January 2018, unchanged from December 2017. This rate of inflation leaves UK households collectively needing to find an extra £23.5bn a year to maintain their standard of living compared to 12 months ago, according to Retirement Advantage
13/02/2018
Chancellor Philip Hammond’s IHT regime review should look at how current gift rules interact with the wider IHT system and look at simplifying the rules around the residence nil rate band (RNRB), a tax expert has advised
12/02/2018
Illegal money lender, Dharam Prakash Gopee, has been sentenced to three and a half years imprisonment by a Judge in Southwark Crown Court after guilty verdicts for offences under the Consumer Credit Act 1974 and the Financial Services and Markets Act 2000
12/02/2018
Pension transfer values fell by £5,000 to £231,000 at the end of January, Xafinity Punter Southall has reported
12/02/2018
The Pensions Ombudsman is investigating a group of over 150 complaints in relation to transfer values given to members of the British Steel Pension Scheme
12/02/2018
Over a third (36%) of professional investors plan to increase their allocation to private debt in the next 12 months, according to a new study commissioned in Q4 2017 by Intertrust
12/02/2018
Three point three million cohabiting couples could be set for a multi-billion pound boost as a result of legislation currently being considered by MPs, according to mutual insurer Royal London
12/02/2018
The trial of Dharam Prakash Gopee concluded yesterday at Southwark Crown Court with the jury returning a guilty verdict to the charges brought by the Financial Conduct Authority (FCA) for offences under the Consumer Credit Act 1974 and the Financial Services and Markets Act 2000
09/02/2018
New figures released today by the Finance & Leasing Association (FLA) show growth of 6% in consumer finance new business in 2017
09/02/2018
The rise of bitcoin and other cryptocurrencies is like a gold rush – “but there is no gold”, the ECB has said
09/02/2018
Financial services should be “enormously welcoming” to a Jeremy Corbyn-led government, Labour shadow chancellor John McDonnell has said
09/02/2018
Removing the triple lock on state pensions could reduce the retirement income of a low-earning millennial by 5 per cent, according to research from the Pensions Policy Institute (PPI)
09/02/2018
The opposition party’s suggestion to keep the state pension age at 66 is “simply unaffordable and cannot be justified,” Undersecretary of State for Pensions and Financial Inclusion Guy Opperman has said
09/02/2018
Knowledge Bank has partnered with Loans Warehouse enabling brokers to compare criteria for both first and second charge loans
09/02/2018
Defined benefit schemes are set to reduce by more than 80 per cent over the next 25 years, according to Hymans Robertson
08/02/2018
The Bank of England’s MPC has voted unanimously to maintain the Bank Rate at 0.5%
08/02/2018
The number of second charge mortgage repossessions in 2017 was 105, 27% lower than in 2016, new figures released by the Finance & Leasing Association (FLA) have shown
08/02/2018
The number of landlords who are lagging behind with their mortgage payments has jumped by 20%, according to UK Finance
08/02/2018
Personal Finance Society chief executive Keith Richards explores the effects Brexit could have on the markets
08/02/2018
Investors put a record £63bn into funds in 2017, taking the total amount invested within the funds industry to £1.2trn, also a record level, according to latest Investment Association data
08/02/2018
Active fund choices of engaged scheme investors have beaten default fund returns by 4.89% a year over the past five years, according to latest figures
08/02/2018
London’s FTSE 100 Index has joined global markets by crashing into the red, its lowest level in around two months
07/02/2018
Mortgage broker Trussle has hit back over claims that mortgages from building societies are cheaper than mortgages from banks
07/02/2018
The average cost of renting a home is now rising across every UK region for the first time in almost two years, according to the latest Landbay Rental Index, powered by MIAC
07/02/2018
Increases in UK house prices in the three months to January were lower than that recorded in the three months to December 2017, the latest Halifax index has found
07/02/2018
Women are being held back from investing by subtle but important barriers, new research from HSBC UK has shown
07/02/2018
The pensions and long-term savings industry is trusted on an organisational level, but mistrusted at a sectoral level, research has found
07/02/2018
The Pensions Regulator has fined the trustee of NOW: Pensions a total of £70,000 and notified the company of a deadline by which it must resolve its administrative failings
07/02/2018
The EU has no excuse to financial services being excluded from a post-Brexit free trade deal between the UK and the EU, the FCA has argued
06/02/2018
First Complete & Pink, appointed representative networks of parent company LSL Property Services plc, have announced they are joining forces under a single brand – Primis Mortgage Network
06/02/2018
BT has confirmed its plan to close its defined benefit BT pension scheme for 10,000 managers, it has been reported.
06/02/2018
Masthaven has today announced a new deal that sees its second charge mortgage range available through Legal & General Mortgage Club
06/02/2018
Interest rates are set to be held at 0.5% on Thursday, but rate rises are set to be implemented later in the year
06/02/2018
Virgin Money has followed Lloyds Banking Group’s footsteps in banning customers from buying Bitcoin and other digital currencies with their credit cards
06/02/2018
Lloyds Banking Group is to ban its credit card customers from purchasing Bitcoin and other cryptocurrencies
05/02/2018
Forty-nine per cent of the population believe property is the best way to make most of your money when saving for retirement, according to latest figures published by the ONS
05/02/2018
AJ Bell has reduced the management charge on its Managed Portfolio Service (MPS) by 40%
05/02/2018
Work and Pensions Committee chair Frank Field has again criticised The Pensions Regulator for “sniffling” around Carillion, “clearly to no effect” as it collapsed under the watch of the regulator
05/02/2018
The Pension Protection Fund should “modernise” its rules so that pension members can obtain advice on transferring out of the scheme to make use of the pension freedoms, Aegon has said
05/02/2018
The Financial Conduct Authority (FCA) has today published a discussion paper to gather views on the market for non-workplace pensions
02/02/2018
One in five pensioners retiring this year will owe an average of £33,900 in debt, Prudential has found
02/02/2018
Six years on from the launch of auto-enrolment in 2012, today marks the final staging date for small and micro employers to enrol their staff into a workplace pension
02/02/2018
Current actuarial valuations are likely to show a need for increased cash funding for pension schemes, while deficits have slowly decreased, JLT has reported
02/02/2018
The average holder was charged £152 in bank fees last year which, if incurred by every one of the 65 million active current accounts in the UK, suggests banks made £9.9bn from charges in 2017, according to latest figures
02/02/2018
The latest mandates in the industry...
02/02/2018
Total private pension wealth increased to £5.3trn between July 2014 and June 2016, up from £4.4trn between July 2012 and June 2014, the Office for National Statistics has revealed.
02/02/2018
Many attractive low-rate mortgage deals are costing borrowers thousands of pounds more than deals with higher headline rates, according to the latest Mortgage Saver Review from online mortgage broker Trussle
02/02/2018
Annual house price growth rose to 3.2% in January, according to the Nationwide Building Society
01/02/2018
A corporate adviser who played a prime role in the operation of an investment scheme which led to investors losing just over £1.4m has been sentenced at Southwark Crown Court to a total of three and a half years’ imprisonment.
01/02/2018
Enhanced annuities have been hit the hardest since the introduction of the pension freedoms, according to research by Moneyfacts
01/02/2018
The government has been urged all pension withdrawals to be taxed at the standard rate of income so people are not emergency taxed
01/02/2018
Briton’s releasing equity from their homes for retirement have supported the UK economy by over £7bn in 2017, according to new research from Legal & General Home Finance and the Centre for Economics and Business Research
01/02/2018
A series of measures designed to maintain and rebalance the UK’s ATM network – shifting incentives from deploying ATMs in city centres to rural and less-affluent communities have been announced by LINK
31/01/2018
The number of people who became insolvent surged by 9.4% in 2017 - the second year running that figures rose
31/01/2018
Government plans to replace the benefits paid to help people pay their mortgage interest with repayable loans could cause real hardship according to a Freedom of Information reply obtained by Royal London
31/01/2018
Nearly one in five mortgage customers have an interest-only mortgage and the FCA is concerned that shortfalls in repayment plans could lead to people losing their homes
31/01/2018
HMRC is ‘out of control’ when it comes to over-taxing people and then expecting them to claim back refunds, Royal London has argued
31/01/2018
Increasing the state pension age is “not enough” to tackle the growing UK pension crisis, the Centre for the Study of Financial Innovation (CSFI) has reported
30/01/2018
Aegon’s pension transfer approach has been criticised as “arduous” and considerably more taxing than other industry leaders
30/01/2018
Chancellor Philip Hammond has written to the Office of Tax Simplification for a review of inheritance tax ensuring the system is “fit for purpose”
30/01/2018
A man whose pension savings went into unregulated funds says he was offered £6,000 by his financial adviser not to raise concerns with the authorities
30/01/2018
The AMPS Committee has written to FSCS to ask for its urgent comments on statements made in its Plan and Budget 2018/19, and in a “Summary note on the basis of claims for the three SIPP operators declared in default” published on 19 January 2018, in which FSCS signals its acceptance of claims against those operators based on factors including alleged “failing to carry out any due diligence on the underlying investment held in the SIPP”
30/01/18
Vida Homeloans is conducting a pilot in the second charge mortgage market, offering a range of residential and buy to let second charge mortgages through two selected master brokers – CSC Loans and Loans Warehouse
30/01/18
The Financial Conduct Authority (FCA) is urging vigilance in the face of increasing online investment fraud, revealing that last year investors lost £87,410 per day to binary options scams.
29/01/2018
Online mortgage broker Trussle has opened up its pioneering mortgage monitoring service to mortgage borrowers.
29/01/2018
The amount withdrawn from pension pots in 2017 increased to £6.5bn, up from £5.7bn in 2016, new data from HMRC has found.
26/01/2018
Defined contribution pension schemes saw a 21 per cent increase in contributions year on year, with a total of £5.4bn paid into schemes in 2017, news figures from The Pensions Regulator reveal.
26/01/2018
Towards the end of last year, M&S Bank announced the intention to enter the mortgage markets, and has now done so, adding home loans to its portfolio of credit cards, current accounts and personal loans.
26/01/2018
UK Finance's latest Lending Update shows a relatively healthy mortgage market, with gross mortgage lending in December estimated to have been £20.2bn, an increase of 1.2 per cent on the previous year.
25/01/2018
The ABI has released figure showing the average motor premium has risen by 9 per cent in 2017 to a record high, adding an extra £40 to the average motor insurance policy.
25/01/2018
HM Revenue and Customs has stopped thousands of scam text messages, with 90 per cent of the most convincing texts now halted before they reach taxpayers’ phones.
25/01/2018
The government is to review proposals put forward by the work and pensions select committee to make guidance mandatory for people at retirement, pension minister Guy Opperman has said
23/01/2018
Retirement Advantage is to stop selling annuities.

This follows the recent takeover of the company by Canada Life
23/01/2018
Four people who ran a series of scam pension schemes have been ordered to pay back £13.7m they took from their victims
23/01/2018
Nearly three quarters of portfolio landlords have found it more difficult to secure a mortgage since the PRA changes were introduced, according to figures from Foundation Home Loans, based on research by BDRC Continental
23/01/2018
The FCA’s decision to drop plans to create a standalone equity release qualification for financial advisers last year should be rethought and ultimately the proposals renewed, Intrinsic mortgage network’s managing director Gemma Harle has argued, on the back of the latest Equity Release Council Figures
23/01/2018
The total amount of housing wealth unlocked by over-55 homeowners reached £3.06bn in 2017 – the first time it has exceeded £3bn in a single year
23/01/2018
The estimated cost of pension tax relief is set to hit a record £41bn
23/01/2018
Consumers could get back money they have lost as a result of their dealings with three SIPP operators which the Financial Services Compensation Scheme has declared in default
22/01/2018
Vida Homeloans has been appointed to Personal Touch Financial Services’ panel of lenders to provide specialist residential and buy to let mortgages to clients of the adviser network
22/01/2018
The FCA has today launched a consultation on plans to give more small businesses access to the Financial Ombudsman Service (the Ombudsman). This follows a review of the protections available to small and medium sized enterprises (SMEs) as users of financial services
22/01/2018
Up to £45bn could be knocked off the combined pension deficits of FTSE 350 companies, due to lower life expectancy and changes in the conversion rates of employees' retirement benefits, according to Willis Towers Watson
22/01/2018
The level of hidden charges in investment management highlighted through the disclosure requirements of MiFID II has been blasted by investment consultancy, the lang cat
22/01/2018
Prime Minister Theresa May has said the government will “set out new tough new rules for executives who try to line their own pockets by putting their workers’ pensions at risk” in Spring, ending an “unacceptable abuse”
22/01/2018
More than 625,000 men receive at least a six-figure salary compared with 155,000 women; new research published by law firm Wilsons has shown
22/01/2018
The Department for Work and Pensions has laid out its single departmental plan for the next four years, in order to help people increase savings and financial security in later life
22/01/2018
Just one pound in every £6,120 netted by organised criminals is recovered by the CPS, according to research by anti-money laundering and Big Data specialist Fortytwo Data
19/01/2018
Vida Homeloans is expanding its UK key account management team, and more...
19/01/2018
Proposals from LINK to lower its fees by 20% could lead to mass closures of free-to-use ATM machines across Britain, hitting already suffering communities even harder
19/01/2018
The UK housing market continued to display a lack of momentum in December, with buyer interest edging lower and the changes to stamp duty for first time buyers having little immediate effect, according to the latest RICS UK Residential Market Survey
19/01/2018
The FCA has “wholly” rejected the conclusions made by the Work and Pensions Select Committee on the regulator’s work on the British Steel Pension Scheme (BSPS) and its pension transfer advice review
19/01/2018
The proposed management expenses budget covering the FSCS’ ongoing expenses and IT, outsourcing, legal and claims handling costs has been proposed at £72.7, for 2018/19
18/01/2018
HMRC is to provide practical advice and guidance to those affected by Carillion’s liquidation through its Business Payment Support Service (BPSS)
18/01/2018
Average weekly household spending rose to £554.20 in the financial year ending 2017; in real terms, a return to pre-economic downturn levels, according to the ONS
18/01/2018
Collective defined contribution schemes could offer “potentially superior outcomes” for many schemes in the UK and the necessary secondary legislation should be produced to implement this, Aon has voiced
18/01/2018
Master trusts thinking about exiting the market in the face of the new regulatory regime need to take action now, according to an industry expert
18/01/2018
Around half of households in Great Britain have some unsecured consumer debt with almost half of this from loans from banks and other financial institutions (43%), with credit and store card debt (25%) and hire purchase debt (21%) the next most significant, according to new IFS research
17/01/2018
The number of people moving home is at its highest level since 2007, according to the latest Lloyds Bank Homemover Review
17/01/2018
The FCA's consultation on reviewing the funding of the FSCS is right to propose that product providers should contribute to the cost of the intermediation class, but it wrongly assumes every firm within the investment provision class is a product provider, according to PIMFA
17/01/2018
The Consumer Price Index rate of inflation has dropped to 3 per cent in December, down from the six-year high of 3.1 per cent in November
17/01/2018
Consumers should be wary of companies asking them to transfer out of their defined benefit pension pots in the wake of the Carillion crisis, the Pensions and Lifetime Savings Association has warned
17/01/2018
Defined benefit transfer values ended 2017 at £236,000, according to Xafinity Punter Southall's index
17/01/2018
MiFID II is credit negative for Europe’s asset management industry as it will accentuate the move to cheaper passive funds, intensify competition and drive sector consolidation, a report published by Moody’s Investors Service has said
15/01/2018
Banks and building societies have started carrying out checks on the immigration status of all personal current account holders under government measures to encourage those in the UK illegally to leave
15/01/2018
A fundamental change in the way people can bank, manage and spend their money in the digital world is under way
15/01/2018
The annual growth rate for house prices in England and Wales fell for the seventh month in a row, to just 0.2% - down from 0.9% in November, according to latest England & Wales HPI from Your Move
15/01/2018
Up to 1.3 million recipients of pension advice could miss out on £236m of potential tax savings, if advisers and employers do not act on new legislation in time for April
15/01/2018
The defined benefit pension schemes of crisis hit Carillion will enter the Pension Protection Fund (PPF), after the government contractor entered liquidation today (15 January 2018)
15/01/2018
Members of the distressed Carillion pension scheme should have “protection and guarantees” from the government, according to the RMT Rail Union
15/01/2018
The Financial Conduct Authority has said it is to collect data from all financial advice firms with permission to advise on defined benefit pension transfers, as Work and Pensions Committee chair Frank Field has warned of a “huge misselling scandal”
12/01/2018
The Mortgage Awards 2018 from MoneyAge is delighted to announce a number of high profile industry names on its judging panel with more to follow
12/01/2018
The latest product launches, mandates and more...
12/01/2018
The FCA has today published a list of 94 firms without authorisation that are offering binary options trading to UK consumers
12/01/2018
A total of 144,826 properties were bought with an equity loan since the launch of the Help to Buy: Equity Loan Scheme, resulting in a total value of £7.39bn, according to the latest DCLG Help to Buy Q3 statistics
12/01/2018
A total of 106,612 property completions have been supported by the Help to Buy: ISA since the scheme’s launch in 2015 with a total of 143,894 bonuses having been paid, new data has revealed
12/01/2018
Average retirement incomes have hit a new record high of £19,900 for people planning to stop work this year, according to Prudential’s Class of… research
12/01/2018
Transfers out of defined benefit schemes by individual members could be removing more than £10bn a year of DB liability, according to JLT Employee Benefits
12/01/2018
The Department for Work and Pensions has been urged to make it clear that state pension forecasts are provisional and subject to change
12/01/2018
The government should increase auto-enrolment contributions to 12 per cent to ensure the next generation of retirees have a good quality of retirement, according to the Personal Investment Management and Financial Advice Association
12/01/2018
Dominic Chappell has been convicted for failing to hand over information to The Pensions Regulator about the sale of BHS
12/01/2018
The Low Incomes Tax Reform Group (LITRG) is urging people with outstanding tax liabilities to take steps urgently to avoid penalties for late payment
10/01/2018
More than 300,000 UK households are using illegal money lenders to support their finances, the Illegal Money Lending Team has said
10/01/2018
Aldermore, the specialist bank, has more than doubled its maximum property development loan size from £10m to £25m with immediate effect
10/01/2018
Collective individual defined contribution schemes are the best pension scheme model, and “better” than collective defined contribution schemes, a top pension academic has said
10/01/2018
Disposable income for retired households has grown slower than non-retired households over the past year, with state support making a crucial difference for the poorest pensioners, latest figures published by the ONS have shown
10/01/2018
National insurance contributions will need to increase by 5 per cent in the future to fund the state pension, the Government Actuary’s Department has revealed
09/01/2018
Dominic Chappell, the former owner of BHS, failed to provide information to investigators regarding the firm's pension schemes, Brighton Magistrates' Court has heard
09/01/2018
Sajid Javid has retained his position as part of Prime Minister’s Theresa May’s cabinet reshuffle with his job title now secretary for housing, communities and local government
09/01/2018
Prime Minister Theresa May has appointed MP for Tatton, Esther McVey, as Secretary of State for Work and Pensions, it has been confirmed
09/01/2018
The Pensions Ombudsman has ruled in favour of Royal London on a case where the applicant claimed the firm provided misinformation relating to his s226 policy
09/01/2018
BT has reached an agreement with its members on a new pension deal, according to union Prospect
09/01/2018
Halifax is offering first-time buyers, homemovers and those who remortgage from another lender £500 cashback on qualifying mortgages until 18 March 2018
09/01/2018
Thirty-four per cent of British investors deal with their investments themselves with no help or advice from experts, back in line with previous years, according to Platforum
08/01/2018
Over half of pension professionals think that collective defined contribution schemes are not a solution for stressed defined benefit schemes, the Pensions Management Institute has found
08/01/2018
The FCA has imposed a financial penalty of £250,000 on former RBS interest rate derivatives trader, Neil Danziger, and prohibited him from performing any function in relation to any regulated financial activity
08/01/2018
An estimated £300m in forgotten and unclaimed money will be released by banks and building societies in order to support disadvantaged people and those trapped in spiral debt
08/01/2018
Consumer spending fell for the fourth consecutive month in December, signalling the weakest annual performance for household expenditure since 2012
08/01/2018
Four in ten pensioner homeowners who are eligible for state support are failing to claim any state benefit, new research has shown
08/01/2018
Mortgage broker, Advance Mortgage Funding, must pay a former client more than £60,000 after an adviser provided unsuitable mortgage advice in 2009, the Financial Ombudsman Service has said
05/01/2018
The Financial Services Compensation Scheme will raise an additional £23.9m levy, in order to plug the deficit created by growing SIPP-related claims against life and pensions advisers
05/01/2018
The Financial Conduct Authority has appointed Charles Randell CBE as its new chair
05/01/2018
UK investment platforms are suspending hundreds of ETFs and investment companies for failing to comply with new regulations
05/01/2018
Growth in consumer credit has fallen to its slowest rate since 2015, with the amount borrowed by home buyers also declining, according to latest figures published by the Bank of England
05/01/2018
Over 16,000 first-time buyers have saved thousands due to the recent stamp duty changes, the government has said
04/01/2018
UK annual house price growth ended 2017 at 2.6% compared with 4.5% in 2016 according to Nationwide's latest House Price Index
04/01/2018
The average UK earner requires a pension pot that is over £300,000 to maintain their current lifestyle in retirement, it has been reported
04/01/2018
Pension schemes will need to pay close attention to their cash outflows as defined benefit transfers are set to continue in 2018, Willis Towers Watson has warned
04/01/2018
The pensions diary for 2018 is already looking busy with the likes of the DB white paper, pensions dashboard, collective DC and master trusts among others taking up time. Natalie Tuck looks ahead for the year
04/01/2018
FCA director of life insurance and financial advice Linda Woodall has stepped down from her role
03/01/2018
Four defendants have appeared at Southwark Crown Court to be sentenced for their role in the operation of an investment scheme which left investors losing just over £1.4m
03/01/2018
The added cost transparency and ban on commissions for independent financial advisers as a result of today’s MiFID II implementation will encourage greater use of low cost passive funds among retail clients, supporting the growth of ETFs, according to Moody’s vice president and senior analyst Marina Cremonese
03/01/2018
For a year that has seen Brexit takeover the agenda, it has still been a busy one for pensions. From the appointment of a new pensions minister, to government reviews and consultations, pension scheme closures, and court rulings, Natalie Tuck looks back at some of the themes of 2017
03/01/2018
The deficit of all UK private sector pension schemes fell by £37bn in the 12 months to 31 December 2017, JLT Employee Benefits has reported
03/01/2018
Mortgage arrears are the biggest source of debt in households across the UK at 31 per cent, according to leading debt charity StepChange
03/01/2018
Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

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