Latest News

Net mortgage approvals down for fourth month running – BoE


By Michael Griffiths

Net mortgage approvals for house purchases have fallen for a fourth consecutive month in April, new figures published by the Bank of England (BoE) have indicated.

Approvals declined by 3,100 compared to March’s total, to reach 60,500 in April


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Number of estates liable for IHT to surpass 37,000 by 2027

The number of estates in the UK subject to inheritance tax (IHT) will exceed 37,000 by 2027, according to analysis by Irwin Mitchell

Story 3

House prices recover in May – Nationwide

House prices increased month-on-month by 0.5% in May, after dropping by 0.6% in April, Nationwide has revealed

Story 4

Over £1.1bn stolen through fraud in 2024

Criminals stole £1.17bn through unauthorised and authorised fraud in the UK during 2024, new figures released by UK Finance have shown

Skybound Wealth Management outlines plan for UK expansion

International wealth advisory group Skybound Wealth Management has announced plans to expand its UK-regulated business

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Starling Bank profits slide after setting aside cash for legacy costs

Starling Bank has reported a 26% fall in pre-tax profit to £223m in its latest annual results, after revealing it had set aside cash to cover issues relating to COVID loan repayments
PEXA completes UK’s first fully digital property purchase

PEXA has completed the UK’s first fully digital property transaction

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Habito partners with Norton Home Loans

Norton Home Loans has announced a new partnership with the digital mortgage broker, Habito

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Categories

Number of estates liable for IHT to surpass 37,000 by 2027

The number of estates in the UK subject to inheritance tax (IHT) will exceed 37,000 by 2027, according to analysis by Irwin Mitchell

IHT receipts hit second highest ever total in April

Inheritance tax (IHT) receipts reached the second highest monthly total ever recorded, totalling £780m in April, HMRC data has revealed

Two thirds of platforms not providing holistic CGT support

Over two thirds of platforms are not providing advisers with holistic capital gains tax (CGT) planning support, despite it being an "issue they’re grappling with daily", FSL has found

Seven in 10 people don’t understand how IHT works – Schroders Personal Wealth

Seventy-one percent of people have admitted to not knowing how inheritance tax (IHT) works or what their beneficiaries may have to pay, Schroders Personal Wealth (SPW) has found

FCA streamlines complaints data reporting requirements

The Financial Conduct Authority (FCA) has streamlined the way in which firms submit data on the complaints they receive

FSCS reduces levy burden by £38m

The Financial Services Compensation Scheme (FSCS) has announced a £38m reduction in the total levy payable by firms for the 2025/26 financial year

Half of UK adults have at least one vulnerability characteristic

Almost half (49%) of UK adults have at least one characteristic of vulnerability, research by MorganAsh has found

Trio of associations outline reforms to unlock UK’s economic growth

Three associations from the financial services have come together to launch a new report that outlines four key pillars to reform the UK’s private banking and wealth management (PBWM) sector

Nationwide returns £2.8bn to members as society enjoys record profit

Nationwide returned a record £2.8bn to its members last year, including £1bn in direct payments to eligible members

Over £1.1bn stolen through fraud in 2024

Criminals stole £1.17bn through unauthorised and authorised fraud in the UK during 2024, new figures released by UK Finance have shown

Starling Bank profits slide after setting aside cash for legacy costs

Starling Bank has reported a 26% fall in pre-tax profit to £223m in its latest annual results, after revealing it had set aside cash to cover issues relating to COVID loan repayments

Third of adults don’t know interest rate on current or savings account

Over a third (35%) of British adults have admitted to not knowing how much interest their current or savings account earns, Spring has found

Morrisons pension scheme completes £270m buy-in with Aviva

The Morrisons Retirement Saver Plan has completed a £270m buy-in with Aviva, securing the retirement benefits of over 32,000 deferred members of the RSP Section of the scheme

More than half of savers ‘don’t know’ their pension is invested

Six in 10 people "don’t know" their pension is invested, according to a survey by Opinium, on behalf of Hargreaves Lansdown

CommScope Connectivity pension scheme agrees £63m buy-in with Aviva

The trustees of the Andrew Limited Pension and Life Assurance Plan have secured a £63m bulk annuity policy with Aviva, securing the pensions of all 570 scheme members

AQA Pension Scheme agrees £120m buy-in with Rothesay

The AQA Pension Scheme has completed a £120m full scheme buy-in with Rothesay, covering the benefits of all 869 scheme members, including 471 pensioners and dependants as well as 398 deferred members

Skybound Wealth Management outlines plan for UK expansion

International wealth advisory group Skybound Wealth Management has announced plans to expand its UK-regulated business

House prices recover in May – Nationwide

House prices increased month-on-month by 0.5% in May, after dropping by 0.6% in April, Nationwide has revealed

Mattioli Woods and Kingswood announce merger

Mattioli Woods and Kingswood Group have announced a merger agreement that will see them combine to create a single UK wealth management group, subject to regulatory approval

Retirement planning is top priority for financial planning clients

Retirement and estate planning (31%) and intergenerational wealth planning (31%) are the top priorities for clients of financial planning firms, Saltus has found

PEXA completes UK’s first fully digital property purchase

PEXA has completed the UK’s first fully digital property transaction

Afin Bank partners with Nivo

Afin Bank has launched a new partnership with Nivo to implement its technology solution to handle all broker interactions

Hinckley & Rugby Building Society partners with SBS to launch mobile app

Hinckley & Rugby Building Society has partnered with software provider SBS to launch a fully integrated mobile app

Finova and Aldermore renew partnership

Aldermore has extended its partnership with cloud-based mortgage and savings software provider, Finova

Bank of Ireland for Intermediaries partners with UK Business Mentoring

Bank of Ireland for Intermediaries has announced a new strategic partnership with UK Business Mentoring to support intermediaries with the challenges of growing a business

News in brief - 2 June 2025

Today's round up of developments coming out of the consumer finance space, featuring Just Group, HouzeCheck and Arc & Co.

News in brief - 30 May 2025

Today's round up of developments coming out of the consumer finance space, featuring Hinckley & Rugby for Intermediaries, Darlington Building Society and MPowered Mortgages

Habito partners with Norton Home Loans

Norton Home Loans has announced a new partnership with the digital mortgage broker, Habito

BLOG: Expand the holistic solutions you can offer with Royal London Equity Release

Royal London Equity Release discusses the importance of holistic support for clients when it comes to later life lending

BLOG: The younger generation have spotted an alternative route into the housing market – and we should embrace it

Head of business development at Saffron for Intermediaries, Tony Hall, discusses how the younger generation can find their way onto the housing ladder

BLOG: Introducing eConveyancer+ | Raising the bar on communication

The latest MoneyAge blog explores eConveyancer+, a new standard in conveyancing designed to support brokers in delivering exceptional service with complete confidence

BLOG: What You Need to Know About Portfolio Landlords in 2024

Portfolio landlords – those with four or more properties - are the backbone of the private rented sector. Our latest report, Portfolio Landlord 2024, looked into who these landlords are, how they feel about their property business and their plans for expansion

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An estimated 1.8 million fixed rate mortgage deals are due to expire in 2025, 400,000 more than in 2024. This surge in remortgaging presents a critical opportunity for mortgage brokers to offer essential advice and financial support to homeowners across the UK, ensuring they transition smoothly to new deals amid stabilising interest rates and heightened affordability checks.

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