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Savings product choice beats all-time high for sixth consecutive month


By Dan McGrath

Overall savings product choice has beaten all-time highs for a sixth consecutive month, increasing to 2,583 savings products, including ISAs in July, Moneyfacts has revealed.

The latest Moneyfacts UK Savings Trends Treasury Report found that excluding ISAs, product count rose to 1,853, which is the highest number of non-ISA products listed since records began in February 2007


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GDP returns to growth in May

UK gross domestic product (GDP) increased by 0.1% month-on-month in May, following 0.3% growth in March and 0.1% drop in April

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Mortgage applications remain highly stressful for borrowers, study finds

Almost nine in ten UK borrowers found their most recent mortgage application stressful, with waiting for lender approval emerging as the biggest source of anxiety, according to research by Boon Brokers

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DIY investors’ risk appetite increases somewhat following Starmer resignation

Over a third (36%) of DIY investors have stated that their risk appetite has increased since Keir Starmer announced his resignation as Prime Minister, Charles Stanley Direct has found

Property transaction market shows resilience in Q2 as remortgage activity normalises

The property sale and purchase market remained resilient in the second quarter of 2026, with transactions accounting for a larger share of overall instructions as remortgage activity returned to more normal levels following a spike earlier in the year, new data from conveybuddy has revealed.

Pure Retirement

Pensions UK calls for national retirement adequacy framework

Pensions UK has called for the development of a national framework to measure retirement adequacy that would be built around a minimum income threshold and target replacement rates
Public supports fundamental reform of homebuying process

New research from the Open Property Data Association (OPDA) has revealed there is "overwhelming public support" for digital property packs and backing for fundamental reform of the homebuying and selling process.

The association’s Future of Homebuying Report 2026, which is based on research from more than 5,000 recent home movers, revealed that consumers are ready to embrace digital solutions to tackle the delays, uncertainty and frustration in the homebuying and selling process

Pure Retirement

Mortgage fixes fall at quickest rate since 2024

Two- and five-year fixed mortgage rates dropped by 0.16% and 0.11% respectively, marking the largest monthly reductions since October 2024, Moneyfacts has revealed.

The product data firm’s latest Moneyfacts UK Mortgage Trends Treasury Report found that both two- and five-year fixed rates averaged 5.52% in July, the lowest rate since March

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Lower mansion tax threshold could widen impact on homeowners

Lowering the proposed threshold for Labour's planned council tax surcharge on higher-value homes from £2m to £1.5m could bring significantly more homeowners into scope, Saltus has warned

Inheritance tax receipts to climb due to ageing population - OBR

Receipts from inheritance tax (IHT) and capital gains tax (CGT) will see a steep rise over the next 50 years, as will state pension spend, as the UK population ages and wealth is transferred between generations, according to the Office for Budget Responsibility (OBR). In its latest Fiscal Risks and Sustainability Report, the OBR projected IHT and CGT receipts will increase from 1.4% of GDP in 2030-31 to 2.2% by 2075-76 under its baseline scenario, driven by the proportion of people aged over 80 rising from 5% in 2025 to 12% in 2075

Third of people unaware of changes to IHT and pension rules

Almost a third (32%) of people do not know how upcoming changes to pensions and inheritance tax (IHT) will affect them, Hargreaves Lansdown has revealed

Frozen tax thresholds push HMRC income tax and NICs receipts higher in May

HMRC collected £153.7bn in tax and National Insurance contributions (NICs) between April and May 2026, up £9.8bn year-on-year, driven largely by stronger income tax and NIC receipts

FCA cracks down on illegal promotions in first year of new strategy

The Financial Conduct Authority (FCA) has led an international crackdown in illegal finfluencer promotions in the first year of its five-year strategy

FSCS pays out £125m in compensation for unsuitable advice in 2025/26

The Financial Services Compensation Scheme (FSCS) paid out more than £125m in compensation to customers who received unsuitable investment, pension, and self-invested personal pension (SIPP) advice in 2025/26, its Annual Report and Accounts has revealed

FCA consults on investment disclosure regime for advisers and wealth managers

The Financial Conduct Authority (FCA) has launched a consultation on simplifying how advisers, wealth managers, and platforms communicate the costs of investing

PIMFA and Macfarlanes publish guidance on ECCTA information sharing provisions

The Personal Investment Management & Financial Advice Association (PIMFA) and law firm Macfarlanes have published guidance on how wealth managers and financial advisers can use information sharing provisions set out in the Economic Crime and Corporate Transparency Act 2023 (ECCTA)

Halifax brand to disappear after 173 years

Lloyds Banking Group has today confirmed that the Halifax brand will change to Lloyds. Existing Halifax customers will start to use the Lloyds app in the coming months and will see their accounts rebranded to Lloyds over time. As part of this change, the Halifax brand will stop opening new accounts

£227bn sits in £10k+ current account balances earning no interest

More than six million current accounts pay no interest despite holding balances of £10,000 or more, with a combined £227bn in deposits, Spring has revealed

Bank of England base rate held at 3.75%

The Bank of England (BoE) has announced that interest rates will be held at 3.75%, the lowest bank base rate (BBR) since February 2023. The central bank's latest decision, which had been widely anticipated by economists, comes after inflation remained unchanged at 2.8% in May

Average high street easy access savings account rate falls below 1% - Spring

The average interest rate on a true high street easy access savings account has fallen below 1%, Spring has revealed

Pensions UK calls for national retirement adequacy framework

Pensions UK has called for the development of a national framework to measure retirement adequacy that would be built around a minimum income threshold and target replacement rates

Self-employed face pensions crisis with entrepreneurs falling behind

Business owners and entrepreneurs are at risk of a retirement savings crisis because many prioritise investing in their businesses over pensions, Rathbones has argued

Many over-55s lack retirement income goals, study finds

Almost 40% of workers aged 55 and over do not have a clear retirement income goal, while almost one in five are unsure what their pension will be worth when they retire, according to new research from Wealth at work

Stantec UK pension scheme secures full-scheme buy-in with Aviva

The Stantec Pension Plan (UK Section) has secured a full-scheme buy-in with Aviva for an undisclosed amount, securing the benefits of the remaining 629 deferred and 51 pensioner members of the scheme

GDP returns to growth in May

UK gross domestic product (GDP) increased by 0.1% month-on-month in May, following 0.3% growth in March and 0.1% drop in April

Savings product choice beats all-time high for sixth consecutive month

Overall savings product choice has beaten all-time highs for a sixth consecutive month, increasing to 2,583 savings products, including ISAs in July, Moneyfacts has revealed. The latest Moneyfacts UK Savings Trends Treasury Report found that excluding ISAs, product count rose to 1,853, which is the highest number of non-ISA products listed since records began in February 2007

DIY investors’ risk appetite increases somewhat following Starmer resignation

Over a third (36%) of DIY investors have stated that their risk appetite has increased since Keir Starmer announced his resignation as Prime Minister, Charles Stanley Direct has found

Millions risk missing out on better savings returns

More than half of UK savers are not confident they are earning a competitive interest rate on their savings, despite regularly checking their balances, leaving millions at risk of missing out on higher returns, LHV Bank has warned

Innovation and technology to unlock later life lending growth, more2life states

Product innovation and technology must remain central to the later life lending market if it is to achieve sustainable growth, improve consumer outcomes and encourage wider adoption, more2life has argued

AI will transform financial services by 2030 - FCA

Artificial intelligence will fundamentally reshape retail financial services by 2030, bringing significant opportunities for consumers and firms alongside heightened risks, according to a first-of-its-kind review by the Financial Conduct Authority (FCA). The Mills Review, led by executive director Sheldon Mills, found growing consumer appetite for agentic AI, with research suggesting around one in five people, equivalent to 11 million UK adults, are likely to use AI capable of acting autonomously within predefined goals.

AI could reshape retirement planning but raises new risks - Aon

Artificial intelligence (AI) is set to play a growing role in how people plan for retirement, but new research from Aon argues it should complement rather than replace human advice

Rosemount Financial Solutions (IFA) launches new AI-powered tool

Rosemount Financial Solutions (IFA) has announced the launch of ProCeding, its new AI-powered tool designed to simplify dealing with ceding scheme providers

News in brief - 16 July 2026

Today's round up of developments coming out of the consumer finance space, featuring Fleet Mortgages, Brickflow, Molo and Leeds Building Society

News in brief - 15 July 2026

Today's round up of developments coming out of the consumer finance space, featuring LiveMore, LSL Financial Services, Landbay, Pluto Finance and Charles Street Finance

Omni Protect becomes first provider to launch Beagle Street’s intermediary proposition

Omni Protect has launched a new partnership with Beagle Street, becoming the first service provider for directly authorised firms in the UK to offer the firm’s newly launched intermediary proposition to advisers

News in brief - 14 July 2026

Today's round up of developments coming out of the consumer finance space, featuring Together, Dudley Building Society, Foundation and InterBay

BLOG: Royal London Equity Release: How high-net-worth individuals could benefit from releasing equity with the exclusive Premier product offering

In February 2026, we were recognised at the MoneyAge Mortgage Awards, taking home the title of ‘Later Life Lender of the Year’, with judges highlighting our rapid distribution growth, extensive adviser engagement and meaningful product enhancements. As an equity release provider, our approach is rooted in a holistic view of retirement, aiming to provide good customer outcomes with backing from the UK’s largest mutual life, pensions and investment company* – but what can we offer you and your clients?

BLOG: Are added-value services the key to engaging clients in protection?

Scottish Widows Protection Director, Rose St Louis, discusses how reframing protection conversations can help to engage clients

BLOG: Award-winning lending, built brick by brick

Saffron for Intermediaries discusses its latest lending offering on the MoneyAge blog

BLOG: Doing Good is Good Business

MoneyAge Awards winner Bespoke Advice discusses the key fundamentals of good financial planning in our latest blog piece

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