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Majority of retail investors oppose changes to cash ISA rules


By Dan McGrath

Retail investors are "overwhelmingly opposed" to scrapping or restricting access to cash ISAs, adding that they are doubtful that changes would boost stock market investing, Rathbones Group has found.

The wealth management firm’s latest study revealed that 61% of retail investors do not want to see changes to ISA rules that would scrap or restrict the annual allowance to cash ISAs


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Former banking non-executive director fined £72k by PRA

A former non-executive director at Wyelands Bank, George Hambro, has been fined £72,000 by the Prudential Regulation Authority (PRA) for breaching its conduct rules

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Second charge mortgages boom in popularity

Second charge mortgages have cemented their position as the fastest-growing segment in the post-pandemic UK property finance market, according to analysis by Pepper Money

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BTL loan advancements jump 39% in Q4, UK Finance finds

The number of buy-to-let (BTL) mortgage loans advanced in the UK jumped by 39.2% in the last quarter of 2024 to 52,648, UK Finance has revealed

Meridian Mortgages acquires William Lowden & Associates

Meridian Mortgages Group has acquired William Lowden & Associates, a Bedfordshire-based mortgage broker specialising in the new build sector

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Monthly house price growth remains flat in March, Nationwide finds

UK house prices remained flat month-on-month in March ahead of the April stamp duty changes, Nationwide has revealed
TransUnion completes acquisition of Monevo

TransUnion has completed the acquisition of credit prequalification and distribution platform, Monevo, from Quint Group

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Mortgage approvals slip in February ahead of stamp duty changes

Net mortgage approvals for house purchases fell by 600 in February to a total 65,500, new figures released by the Bank of England (BoE) have shown

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Advisers see surge in IHT advice demand, Downing finds

Advisers have reported a surge in demand for inheritance tax (IHT) planning advice, with new clients accounting for most of the enquiries, research by Downing has found

IHT receipts hit new annual record a month early

The amount of inheritance tax (IHT) collected by HMRC has reached £7.6bn in the 11 months to February, surpassing the annual record with a month to spare. HMRC took the previous annual record last year, when IHT receipts totalled £7.5bn across the full 2023/24 financial year

Amount of additional rate taxpayers up 9.5%, HMRC reveals

The number of additional rate taxpayers increased by 9.5% between 2021/22 and 2022/23, HM Revenue and Customs (HMRC) has revealed

HNWIs voice concern around Labour’s tax policy

Eight in ten (83%) high net worth individuals (HNWIs) are expecting taxes to rise further in the next 12 months, a new study by Saltus has indicated

Former banking non-executive director fined £72k by PRA

A former non-executive director at Wyelands Bank, George Hambro, has been fined £72,000 by the Prudential Regulation Authority (PRA) for breaching its conduct rules

PRA proposes raise to FSCS deposit protection limit

The Prudential Regulation Authority (PRA) has proposed an increase to the deposit protection limit of the Financial Services Compensation Scheme (FSCS), from £85,000 to £110,000

UK 2025 growth estimate halved to 1%, Chancellor reveals

Growth estimates for the UK in 2025 have been halved to 1% by the Office for Budget Responsibility (OBR), the Chancellor of the Exchequer, Rachel Reeves, has announced in the Spring Statement

FCA outlines action plan on Consumer Duty rule review

The Financial Conduct Authority (FCA) has launched an action plan in which it has outlined proposals to review its expectations for mortgages and lending, and explore how it can simplify communications about savings accounts

Majority of retail investors oppose changes to cash ISA rules

Retail investors are "overwhelmingly opposed" to scrapping or restricting access to cash ISAs, adding that they are doubtful that changes would boost stock market investing, Rathbones Group has found. The wealth management firm’s latest study revealed that 61% of retail investors do not want to see changes to ISA rules that would scrap or restrict the annual allowance to cash ISAs

17% of UK adults unaware of stocks and shares ISAs

Almost one in five (17%) UK adults have "never heard" of a stocks and shares ISA, while 25% of those who have heard of the investment product don’t know anything about it, The Investment Association has revealed

UK inflation falls to 2.8% in February

The rate of inflation in the UK slowed to 2.8% in the 12 months to February, the Office for National Statistics (ONS) has revealed. This compares to consumer price index (CPI) inflation totalling 3% in the year to January

Savers ‘increasingly’ switching cash to fixed rate accounts

Savers are increasingly switching cash from instant access and notice accounts to fixed rate accounts in the expectation of more Bank of England (BoE) base rate cuts, Investec Save has found

Anglo American completes combined £785m buy-in with L&G

Anglo American Services (UK) has completed a £785m combined buy-in with Legal & General Assurance Society (L&G) for three of its defined benefit (DB) schemes

Church of Scotland Pension Trustees completes £75m buy-in with Just Group

The Church of Scotland Pension Trustees has completed a £75m multi-scheme buy-in with Just Group, insuring the benefits of 1,500 pensioner and dependant members and 850 deferred members

Standard Life launches guaranteed lifetime income plan

Standard Life has furthered its strategic partnership with Fidelity International by launching the guaranteed lifetime income plan

Fuller’s DB Pension Plan agrees full buy-in with L&G

The Fuller’s Defined Benefit (DB) Pension Plan has secured a full buy-in with Legal & General (L&G), following recent funding improvements

Meridian Mortgages acquires William Lowden & Associates

Meridian Mortgages Group has acquired William Lowden & Associates, a Bedfordshire-based mortgage broker specialising in the new build sector

TransUnion completes acquisition of Monevo

TransUnion has completed the acquisition of credit prequalification and distribution platform, Monevo, from Quint Group

Quarter of ISA holders unaware of tax deadline

A quarter (24%) of ISA savers are not aware there is a tax deadline for their £20,000 ISA allowance, meaning some could be missing out on accruing tax-free interest on their savings, Charles Stanley has found

Wealthtime rebrands as The Quanta Group

Wealthtime has rebranded to The Quanta Group and become a fully integrated wealth manager, following its acquisition of Craven Street Wealth

Mortgage Brain adds Gatehouse Bank to tech platforms

Tech provider Mortgage Brain has added Gatehouse Bank to its Sourcing Brain and Criteria Brain platforms

Metro Bank announces new AI partnership with Covecta

Metro Bank has launched a new partnership with Covecta, an AI platform for financial services that will be deployed across its corporate and commercial credit businesses

Octopus Money and Aveni launch new AI partnership

Octopus Money has launched a new partnership with Aveni.ai which will see the firm adopt Aveni’s AI solutions across its adviser and coaching teams

Nivo launches AI-powered assistant for specialist lenders

Nivo has launched an AI-powered product that aims to help specialist lenders grow without hiring more people

Quantum Mortgages enters bridging market

Quantum Mortgages has announced its entry into the bridging market with the launch of a new short-term finance proposition

News in brief - 3 April 2025

Today's round up of developments coming out of the consumer finance space, featuring Hampshire Trust Bank, Foundation Home Loans and United Trust Bank Mortgages

Fluent Money partners with Compare the Market

Compare the Market has launched a new partnership with Fluent Money to further expand its money eligibility and comparison service

MagiClick renews partnership with Vida Bank

MagiClick has announced the renewal of its partnership with Vida Bank, following the implementation of a modern digital platform with the specialist mortgage bank

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