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Later life loans up 33.5% YoY


By Adam Cadle

A total of 38,510 new loans were advanced to older borrowers in Q1, up 33.5% YoY, UK Finance’s latest later life mortgage lending update for Q1 2025 has revealed


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Mercer agrees to acquire Fundhouse

Mercer, a Marsh McLennan business, has reached an agreement to acquire the UK investment advisory firm Fundhouse for an undisclosed amount

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Spending Review: Reeves to double Govt spending on affordable housing to £39bn

Chancellor Rachel Reeves is to double Government spending on affordable housing to £39bn, in what she described as “the biggest cash injection into social and affordable homes in 50 years"

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FCA rings bell on new type of private stock market in growth boost

A new type of private stock market will be launched later in 2025 after the FCA announced the final rules for its Private Intermittent Securities and Capital Exchange System (PISCES)

UK GDP weaker than expected in April

UK GDP was weaker than expected in April, with the economy contracting by 0.3%, compared to market expectations for a 0.1% fall

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FCA appoints deputy chief exec

The FCA has appointed Sarah Pritchard as deputy chief executive
Household spending on rent and mortgages rose by 4.6% YoY in May

Household spending on rent and mortgages rose 4.6% year-on-year in May, according to new data from Barclays Property Insights

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Third of savers feel confident about affording retirement

The majority of pension savers are not confident they can afford to retire, according to research from Hargreaves Lansdown, which found that just 36% of people surveyed are confident they can afford to retire

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Late payment interest on income tax soars to £513m in last five years

HMRC has charged £513m in interest on the late payment of income tax since 2020, a new Freedom of Information (FOI) request submitted by NFU Mutual has shown

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

FCA appoints deputy chief exec

The FCA has appointed Sarah Pritchard as deputy chief executive

Caring responsibilities among most common customer vulnerabilities – MorganAsh

Caring responsibilities are one of the most common life events experienced by vulnerable financial consumers, MorganAsh has found

UK Finance calls for new drive in demand for green home upgrades

UK Finance has called for action from the financial services sector to drive demand for green home upgrades

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

Over four in five savers ‘over-reliant’ on current account provider – Investec Save

More than four in five (83%) people are "over-reliant" on their current account provider by having a savings account with the bank or building society that also provides their current account, Investec Save has revealed

Growth in concern around intergenerational planning

Advisers have reported a rise in the number of clients now concerned about intergenerational planning, new research by HSBC Life (UK) has indicated

Over eight million current accounts with £10k earning zero interest

Over 8.3 million current accounts in the UK contain balances of more than £10,000, the majority of which are generating zero interest, according to new findings by savings app Spring

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

Two-thirds of workers missing out on salary exchange pension boost

Just over a third (35%) of salaried workers are enrolled in their company’s salary exchange scheme, Scottish Widows has found, warning that the rest could be missing out on a pensions pot boost potentially worth tens of thousands of pounds

Third of savers feel confident about affording retirement

The majority of pension savers are not confident they can afford to retire, according to research from Hargreaves Lansdown, which found that just 36% of people surveyed are confident they can afford to retire

Grant Thornton Pensions Fund secures £275m buy-in with Royal London

The Grant Thornton Pensions Fund has secured a £275m buy-in with Royal London, securing the benefits of around 2,200 members

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

Broadstone acquires ExactVAL

Broadstone has announced the acquisition of ExactVAL, aimed at strengthening its capabilities in the life insurance and bulk purchase annuity (BPA) market, for an undisclosed amount

UK GDP weaker than expected in April

UK GDP was weaker than expected in April, with the economy contracting by 0.3%, compared to market expectations for a 0.1% fall

FCA rings bell on new type of private stock market in growth boost

A new type of private stock market will be launched later in 2025 after the FCA announced the final rules for its Private Intermittent Securities and Capital Exchange System (PISCES)

Mercer agrees to acquire Fundhouse

Mercer, a Marsh McLennan business, has reached an agreement to acquire the UK investment advisory firm Fundhouse for an undisclosed amount

FCA allows firms to experiment with AI alongside NVIDIA

The Financial Conduct Authority (FCA) will launch a Supercharged Sandbox to help financial services firms experiment safely with AI to support innovation

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

News in brief - 9 June 2025

Shepherds Friendly, more2life, and more...

Nivo appointed as NACFB AI partner

Nivo has been appointed as the National Association of Commercial Finance Brokers' (NACFB) new AI partner

News in brief - 6 June 2025

Today's round up of developments coming out of the consumer finance space, featuring Chetwood Bank, Darlington Building Society and LiveMore

News in brief - 5 June 2025

Today's round up of developments coming out of the consumer finance space, featuring Pepper Money, Nationwide and Masthaven Finance

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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Later Life Lending

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Is 2025 the year of the remortgage?
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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