Latest News

Bank of England cuts interest rates to 4%


By Michael Griffiths

The Bank of England (BoE) has announced a 0.25% cut to its base rate to bring interest rates down to 4%.

The latest move is the fifth cut to the base rate since the BoE started to bring interest rates down in August last year, from a peak of 5.25%


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House price growth flat in June – Halifax

House price growth stayed flat in June, following a month-on-month dip of 0.3% in May, the latest Halifax House Price Index has shown

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Metro Bank's profits treble in H1

Metro Bank has seen its profits more than treble in the first half of its financial year, increasing 252% to £45.1m from H2 2024

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Mortgage arrears and direct debit rejections on the decline

This year’s Q2 was the first quarter since the COVID pandemic in which both arrears and direct debit rejections (DRRs) declined, according to analysis by Pepper Advantage

Quilter hits £100m profit in H1

Quilter has posted an adjusted pre-tax profit of £100m in its first half results, a 3% improvement on H1 last year

FCA fines Woodford and WIM £46m over WEIF collapse

The Financial Conduct Authority (FCA) has fined both Neil Woodford and Woodford Investment Management (WIM) a total £45.9m for failures in their management of the Woodford Equity Income Fund (WEIF)
Octopus Money to acquire Virgin Money’s investment business

Octopus Money has agreed to acquire Virgin Money Investments in a move that the firm said would "significantly accelerate its growth in the direct-to-customer wealth market"

Perspective Financial Group completes five new acquisitions

Perspective Financial Group has completed a further five acquisitions to take the group’s total number of acquisitions to 121

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Higher IHT burden leading to rise in inheritance gifting

Wealthy parents are increasingly gifting more of their funds to charity amid a rising inheritance tax (IHT) burden, a new study by Rathbones has indicated

Number of estates paying IHT climbs 13% in a year

The number of estates subjected to inheritance tax (IHT) has risen by 13% in the space of a year, new figures from HMRC have shown

IHT inclusion of pensions to drive significant growth in later life lending

The inclusion of unused pension assets in inheritance tax (IHT) calculations will have a significant positive impact on the later life lending market, according to Key Advice

UK CGT liabilities fell by 18% in 2023/24; property disposals hit record high in 2024/25

Capital gains tax (CGT) liabilities in the UK fell by 18% year-on-year to £12.1bn in 2023/24, despite the number of people paying CGT increasing, the latest figures from HMRC have revealed

FCA fines Woodford and WIM £46m over WEIF collapse

The Financial Conduct Authority (FCA) has fined both Neil Woodford and Woodford Investment Management (WIM) a total £45.9m for failures in their management of the Woodford Equity Income Fund (WEIF)

FCA begins court action over £23m unauthorised scheme

The Financial Conduct Authority (FCA) has begun high court proceedings against Concept Capital Group (CCG) over a £23m unauthorised collective investment scheme. Riverrun Consulting, Gateridge Consulting, and six individuals – Ian Elliott, Adrian Felix, Ayub Swaibu, Edmund Brew, Ernest Kargbo, Raymondip Bedi – are also alleged to have taken part in a scheme involving consumer investments in static homes

Former H2O deputy CEO fined £1m and banned from financial services

The former deputy CEO of asset manager H2O, Jean-Noel Alba, has been fined £1m by the Financial Conduct Authority (FCA) and banned from the financial services industry

FCA announces simplified mortgage rules

The Financial Conduct Authority (FCA) has simplified its mortgage rules to make the remortgaging process easier for borrowers, while saving them time and money

Bank of England cuts interest rates to 4%

The Bank of England (BoE) has announced a 0.25% cut to its base rate to bring interest rates down to 4%. The latest move is the fifth cut to the base rate since the BoE started to bring interest rates down in August last year, from a peak of 5.25%

Metro Bank's profits treble in H1

Metro Bank has seen its profits more than treble in the first half of its financial year, increasing 252% to £45.1m from H2 2024

Advisers face ‘major challenges’ in dealing with vulnerable customers

Wealth managers and financial advisers are at risk of ‘failing’ vulnerable customers and face major challenges in dealing with them, according to a study by Huntswood

Most over-40s yet to arrange power of attorney, study finds

Seventeen per cent of UK adults over the age of 40 have appointed a power of attorney (POA) in place, new research by Canada Life has highlighted

MMC pension fund’s Sedgwick section completes £1.9bn buy-in with Standard Life

The Sedgwick Section of the MMC UK Pension Fund has completed a £1.9bn buy-in with Standard Life, covering the benefits of all members of this section of the scheme

National Grid UK Pension Scheme completes £900m buy-in with Rothesay

The National Grid UK Pension Scheme has completed a £900m buy-in with Rothesay, securing the benefits of 7,130 pensioners and their dependants

Quarter of UK adults don’t feel financially independent – Scottish Widows

A quarter (25%) of UK adults have stated that they do not feel financially independent, research by Scottish Widows has found

Govt publishes legislation to bring pensions into scope of IHT

The Government has confirmed it is proceeding with its plans to include unused pension pots within inheritance tax (IHT) from April 2027 with the publication of draft legislation

Perspective Financial Group completes five new acquisitions

Perspective Financial Group has completed a further five acquisitions to take the group’s total number of acquisitions to 121

Octopus Money to acquire Virgin Money’s investment business

Octopus Money has agreed to acquire Virgin Money Investments in a move that the firm said would "significantly accelerate its growth in the direct-to-customer wealth market"

Quilter hits £100m profit in H1

Quilter has posted an adjusted pre-tax profit of £100m in its first half results, a 3% improvement on H1 last year

BWS strikes £2.4bn deal to acquire Just Group

Just Group has agreed to a £2.4bn acquisition offer from the Bermuda-headquartered retirement services firm, Brookfield Wealth Solutions (BWS)

e4 Strategic launches new digital workflow management platform

e4 Strategic has launched anew digital workflow management platform, VERSA, which aims to improve efficiency in the conveyancing process

Wealth management platform Stratiphy launches

Personalised wealth management platform Stratiphy has launched, seeking to take advantage of demand from UK investors to have more control over their investments

Fiducia announces partnership with Doc2

Fiducia Commercial Network has launched a partnership with Doc2, a software firm that provides automated document creation and eSigning

Lantern launches tech integration with DebtStream

Lantern has adopted new software, powered by DebtStream, to improve its customer-facing portal and provide clients with support as they manage their financial situations

Aspen’s total lending surpasses £750m in July

Aspen Bridging has surpassed £750m in total lending in July, as the firm targets £1bn in lending this year

News in brief – 7 August 2025

Today's round up of developments coming out of the consumer finance space, featuring Buckinghamshire Building Society, ModaMortgages and Hampshire Trust Bank

April Mortgages added to Access FS’ lender panel

Access Financial Services has added April Mortgages to its lender panel

News in brief - 6 August 2025

Today's round up of developments coming out of the consumer finance space, featuring Atom bank, Luminosity and Black & White Bridging

Mortgage Awards 2026: Open for entries

The Mortgage Awards 2026 are now open to entries for firms across the mortgage space serving clients in the UK

Lending with a difference: A conversation with Family Building Society’s Nathan Waller

With demand growing for more flexible mortgage solutions, Family Building Society is carving out a strong reputation in later life, family-assisted, and buy to let lending. We speak to Nathan Waller, Business Development Manager at Family Building Society, to discuss how they’re supporting brokers, addressing complex borrower needs, and adapting to an evolving market.

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

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