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Inflation jumps 3.6% in June

By Dan McGrath

16/07/2025

UK inflation increased to 3.6% in June, after remaining at 3.4% in the 12 months to May, the Office for National Statistics (ONS) has revealed.

The latest figure is the highest inflation rate recorded since January 2024, when consumer prices index (CPI) inflation reached 4%

Lenderhive, a new digital mortgage broker specialising in energy efficiency and appointed representative of the Rosemount Financial Solutions (IFA) network, has launched today

FCA fines Barclays £42m for crime risk management failings

The Financial Conduct Authority (FCA) has fined Barclays Bank and Barclays Bank UK £42m for separate instances of financial crime risk management failings

UK house prices surge 3.9% in May

The average house price in the UK increased by 3.9% in the year to May, the Office for National Statistics (ONS) has found.

Ecology Building Society joins Paradigm’s lender panel

Paradigm has become the first mortgage club distributor to add Ecology Building Society to its lender panel

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Lloyds to add £4bn in FTB lending following recent reforms

Lloyds Banking Group has stated that it will make an extra £4bn available in lending to high LTV first-time buyers (FTBs)

UK house prices surge 3.9% in May

The average house price in the UK increased by 3.9% in the year to May, the Office for National Statistics (ONS) has found.

Govt cuts red tape on first-time buyer market in Leeds Reforms

The Government has stated that first-time buyers will be supported in getting on the housing ladder as part of the Leeds Reforms, which aim to cut financial red tape in order to "attract investment and drive growth". Under the changes, the Bank of England will allow lending at over 4.5 times a buyer’s income, which could help an extra 36,000 people to buy their first home in the first year of the reforms

Bridging finance ‘surging’ in 2025 – Clifton Private Finance

Bridging finance is "surging" in 2025, Clifton Private Finance has stated, with market conditions and evolving borrower behaviour contributing to this performance

Three quarters of British adults would support introduction of a wealth tax

Seventy-five per cent of British adults would support the introduction of a wealth tax of 2% on wealth over £10m, according to a survey from YouGov

Families make over 18k reclaims for overpaid IHT – NFU Mutual

Families in the UK have made more than 18,000 reclaims for overpaid inheritance tax (IHT) in the last three years, NFU Mutual has revealed

Popularity of trusts on the rise as pensions set to move into scope of IHT

Legacy wealth planning is becoming increasingly significant and trusts are playing a larger role in financial planning as pensions are set to come into scope of inheritance tax (IHT) from April 2027, according to Quilter

IHT receipts jump 7% year-on-year in May

Inheritance tax (IHT) receipts totalled £1.5bn between April and May, increasing by 7% year-on-year in the first two months of the tax year, HMRC has revealed

FCA fines Barclays £42m for crime risk management failings

The Financial Conduct Authority (FCA) has fined Barclays Bank and Barclays Bank UK £42m for separate instances of financial crime risk management failings

Chancellor to ‘consider’ changes to ISA rules following Mansion House speech

The Chancellor, Rachel Reeves, stated that she will continue to "consider further changes" to ISAs in her Mansion House speech last night

FCA launches reform proposals to senior manager regime

The Financial Conduct Authority (FCA) has begun the first phase of its reform proposals designed to streamline the senior managers and certification regime (SM&CR).

UK Finance publishes Mansion House submission for Govt

UK Finance has published its submission to the Government ahead of the Chancellor’s Mansion House speech on 15 July

97% of savers against Govt’s plans to cut cash ISA allowance, study finds

The vast majority of savers (97%) are against the Government’s plans to reduce the annual cash ISA allowance, according to a new survey by Hampshire Trust Bank (HTB)

Monzo fined £21.1m for financial crime control failings

Monzo has been fined £21.1m by the Financial Conduct Authority (FCA) for having inadequate anti-financial crime systems and controls

Cash ISAs boom in popularity over last year

The last 12 months have seen a significant increase in the number of savers opening a cash ISA, analysis by Hargreaves Lansdown (HL) has shown

Darlington BS warns of impact of changes to cash ISAs

Darlington Building Society has warned that the Government’s anticipated cut to the cash ISA allowance could have "wide-reaching consequences" for mortgage funding, savers, the housing market and the UK economy

Honda Group pension scheme completes £800m buy-in with L&G

The Honda Group UK Pension Scheme has completed an £800m buy-in with Legal & General (L&G) Assurance Society Limited, securing the retirement benefits of over 1,700 retirees and over 3,000 deferred members

Quarter of people see providing family support in retirement as ‘realistic aim’

Almost half (49%) of people have stated that they want to financially support family members in retirement, but just 28% see it as a "realistic aim", Hargreaves Lansdown has found

One in five boomers describe inheritance as ‘retirement goal’

One in five (20%) baby boomers have described leaving an inheritance as one of their top five goals for retirement, Just Group has revealed

HNWIs ‘significantly underestimating’ money needed for comfortable retirement

High net worth individuals (HNWIs) are significantly underestimating the amount of money they will need to achieve their desired standard of living in retirement, according to analysis from Saltus

Inflation jumps 3.6% in June

UK inflation increased to 3.6% in June, after remaining at 3.4% in the 12 months to May, the Office for National Statistics (ONS) has revealed. The latest figure is the highest inflation rate recorded since January 2024, when consumer prices index (CPI) inflation reached 4%

The Right DA Club reports ‘strong’ H1 results

The Right DA Club has reported "strong results" for the first half of 2025, with growth in both its membership take-up and income

Cash ISA balances total £417bn in May

Adult cash ISA balances reached a total of £417bn at the end of May, increasing from £410.5bn in April, Paragon Bank has revealed

GDP shrinks 0.1% in May

Gross domestic product (GDP) fell by 0.1% month-on-month in May, after dropping by 0.3% in April, the Office for National Statistics (ONS) has revealed. In the three months to May, GDP is estimated to have increased by 0.5% compared to the three months to February 2025

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

Verso develops strategic platform partnership with Nucleus

Wealth management consolidator Verso has developed a strategic partnership with Nucleus to launch a new platform

AJ Bell launches new advice platform

AJ Bell has launched a new streamline platform, AJ Bell Touch, to help financial advisers implement investment advice for their clients

News in brief - 18 July 2025

Today's round up of developments coming out of the consumer finance space, featuring Skipton Building Society, Foundation Home Loans and Aspen Bridging

WealthAi and MDOTM partner to deliver AI tools to wealth managers

WealthAi and MDOTM have announced a strategic partnership to expand the reach of MDOTM’s artificial intelligence (AI) platform, Sphere, to more wealth managers and advisers

Lenderhive launches as new mortgage broker

Lenderhive, a new digital mortgage broker specialising in energy efficiency and appointed representative of the Rosemount Financial Solutions (IFA) network, has launched today

News in brief - 17 July 2025

Today's round up of developments coming out of the consumer finance space, featuring Santander, Accord Mortgages and GB Bank

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.

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