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BoE raises interest rates to 4%


By Goran Nastic

The Bank of England has raised interest rates by 0.25% to 4%, as it attempts to contain rising inflation driven by higher energy prices and disruption to global supplies.

The Monetary Policy Committee (MPC) voted eight to one in favour of increasing the base rate to 4%


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Remortgage searches increase 37% in October

Residential remortgage searches increased by 37% year-on-year in October, despite overall mortgage searches falling by 5% compared with September, Twenty7tec has revealed

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Half of Brits open to switching to Islamic finance

Half of UK consumers would consider switching from conventional banking to Islamic finance if offered comparable services, with ethical considerations and alignment with personal values among the main attractions, research by Gatehouse Bank has found

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One in four remortgage borrowers consider variable products in October

Around one in four (24%) remortgage borrowers considered variable or tracker mortgages in October, compared with 14% in February, Moneyfactscompare.co.uk has revealed.

The financial product comparison site found that remortgage borrowers researching variable and tracker mortgages increased by 71% in October compared to February, as rates shifted following the US-led conflict in the Middle East

Landlord confidence plunges despite 85% remaining profitable

Landlord confidence has slumped over the past 15 years despite rental property remaining a profitable investment, according to research from Pegasus Insight

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Delcam Retirement Benefits Scheme completes £28m buy-in with Royal London

The Delcam Retirement Benefits Scheme has completed a £28m full-scheme buy-in with Royal London, securing the benefits of 171 members
Only one in five young adults used Junior ISA savings for a house deposit

Just one in five young adults used matured junior ISA (JISA) savings for a house deposit despite strong homeownership ambitions, according to research from Skipton Building Society

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Half of adults expect finances to worsen post-Budget

More than half (53%) of UK adults expect their household financial situation to worsen in the next 12 months, revealing concerns about the financial outlook following the recent Budget, Mattioli Woods has stated

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Nearly one in five unmarried Brits consider marriage to cut IHT

Almost one in five unmarried Britons are considering getting married to reduce their inheritance tax (IHT) liability, according to research by MoneySuperMarket

Budget 2026: Property income tax rates to rise by 2 percentage points

The government is increasing all rates of income tax applied to property income by two percentage points

Budget 2026: Chancellor introduces temporary higher tax on banks

Chancellor John Healey has announced a 15-month increase in the Bank Corporation Tax Surcharge from 3% to 6% to help fund energy bill support for households

ISA tax break falls for first time in four years

The cost of ISA tax relief fell for the first time in four years, dragging down the value of tax reliefs designed to encourage saving and investment in the UK, new research has revealed

Budget 2026: Chancellor abandons Reeves' 'car crash' ISA reforms

Chancellor John Healey has scrapped controversial plans to cut the annual cash ISA allowance from £20,000 to £12,000

FCA calls on AI providers to issue disclaimers on advice

The Financial Conduct Authority (FCA) has called on general-purpose large language models (LLMs) such as ChatGPT, Gemini and Claude to provide "clear, proportionate and consistent" disclaimers when generating AI financial advice

Half of UK young adults facing housing insecurity highlight lack of financial education

Almost half (48%) of young adults facing housing insecurity say that a lack of financial education is the primary cause of these problems, Money Ready has found

FCA joins industry and consumer groups to boost protection insurance uptake

The Financial Conduct Authority (FCA) is teaming with industry, government and consumer groups to encourage more people to consider protection insurance, after finding that around 58% of UK adults have no life insurance, critical illness cover or income protection

Majority of regular saver accounts beaten on returns by easy access accounts

Nine out of 10 regular savings accounts deliver poorer returns annually compared to standard easy access accounts, despite attractive headline rates, Spring has revealed

LISA savers hit with multiple withdrawal penalties in 2024/25

Around 45,000 lifetime ISA (LISA) savers were penalised with unauthorised withdrawal charges more than once in 2024/25, Plum has revealed

Savings accounts earning 1.5% or less reach £327bn

UK savings accounts earning 1.5% or less in interest currently hold a collective £327bn, Spring has revealed

Britons feel unprepared for financial shocks, study finds

Almost half of Britons feel financially unprepared for major life events, despite recognising the importance of long-term financial planning, according to new research

Delcam Retirement Benefits Scheme completes £28m buy-in with Royal London

The Delcam Retirement Benefits Scheme has completed a £28m full-scheme buy-in with Royal London, securing the benefits of 171 members

Retirement reforms to offer 17m savers a pension-for-life option

Around 17 million private sector workers saving into defined contribution (DC) pensions will be given the option of a secure income throughout retirement under new government plans to introduce default retirement products

Motive Partners completes acquisition of Mobius

Private equity firm Motive Partners has completed the acquisition of investment administrator Mobius for an undisclosed sum

Standard Life enters Ireland's pension risk transfer market

Standard Life has launched into Ireland's growing pension risk transfer (PRT) market, targeting a €65bn defined benefit (DB) pensions sector

BoE raises interest rates to 4%

The Bank of England has raised interest rates by 0.25% to 4%, as it attempts to contain rising inflation driven by higher energy prices and disruption to global supplies. The Monetary Policy Committee (MPC) voted eight to one in favour of increasing the base rate to 4%

Only one in five young adults used Junior ISA savings for a house deposit

Just one in five young adults used matured junior ISA (JISA) savings for a house deposit despite strong homeownership ambitions, according to research from Skipton Building Society

41% of retired people fear family gifts could leave them short of cash

More than two in five retired people worry that giving financial support to their children and grandchildren could leave them short of money in later life, research by Investec Save has revealed

Half of adults expect finances to worsen post-Budget

More than half (53%) of UK adults expect their household financial situation to worsen in the next 12 months, revealing concerns about the financial outlook following the recent Budget, Mattioli Woods has stated

AI one of the most influential advisers in the UK – the lang cat

AI is one of the most influential advisers in the UK, with tools shaping financial decisions over an estimated £47.7bn of UK savings and investments, the lang cat has stated

Nivo launches AI assistant to streamline specialist lending cases

Nivo has launched Lender Collect, an AI assistant designed to help manage specialist lending cases from initial broker enquiries through to post-decision conditions

AI poised to reshape workplace pensions

Artificial intelligence is poised to reshape the UK defined contribution (DC) pensions market, with employers increasingly looking to use the technology to improve member communications, engagement and retirement outcomes, according to a new WTW survey

AI will raise speed expectations for letting agents

Artificial intelligence is more likely to replace individual tasks than letting agents themselves, but the technology will raise expectations for faster service, smarter decision-making and greater efficiency across the lettings sector, Propoly has argued

News in brief - 5 November 2026

Today's round up of developments coming out of the consumer finance space, featuring Accord Mortgages, Target Group, CAL and Vida Homeloans

Phoenix Money joins the BDLA

The Bridging & Development Lenders Association (BDLA) has announced that Phoenix Money Group has joined as a lender member

News in brief - 4 November 2026

Today's round up of developments coming out of the consumer finance space, featuring Together, Landbay, Nivo, Keystone Property Finance and Rosemount Financial Solutions (IFA)

News in brief - 3 November 2026

Today's round up of developments coming out of the consumer finance space, featuring Hampshire Trust Bank, Fleet Mortgages, LendInvest, Maslow Capital and TwentyCi

Alan Ritchie: Looking to the future for Equity Release

Royal London Equity Release's CEO explores property wealth’s role in retirement planning

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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