Latest News
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Advisers ‘should record client interactions’ FCA suggests
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First-time buyer boom ‘driving older borrower mortgage enquiries’
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RBS appoints Alison Rose as its new chief executive
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‘Lowest ever’ fixed rate lifetime mortgage hits UK market
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BoE’s MPC votes unanimously to maintain Bank Rate at 0.75%
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Landlords’ tenant optimism on the rise
Archive News
Financial advisers should consider recording client interactions to help both in the event of a complaint and in understanding their clients’ needs better, an FCA director has advocated
Posted: 20/09/2019
Mortgage advisers have seen a surge in enquiries from those aged over 55 looking for ways to help their children or grandchildren onto the property ladder, according to a new industry survey
Posted: 20/09/2019
The Royal Bank of Scotland Group has named Alison Rose as its new CEO, set to take over from Ross McEwan on 1 November
Posted: 20/09/2019
The all-time lowest fixed interest rate for a lifetime mortgage has been launched in the UK by Responsible Lending
Posted: 20/09/2019
The Bank of England’s MPC has voted unanimously to maintain the Bank Rate at 0.75%
Posted: 19/09/2019
The proportion of landlords who believe that tenant demand is ‘growing or booming’ has increased to its highest level in almost a year, according to a new survey
Posted: 19/09/2019
UK citizens paid £5.4bn in inheritance tax (IHT) in 2018/19, up 3% increase on the previous tax year, new HMRC figures have revealed
Posted: 19/09/2019
Investment and financial planning group Tilney is to merge with professional services and accountancy firm Smith & Williamson
Posted: 19/09/2019
Families could claim back thousands of pounds in inheritance tax (IHT) following the latest slump in house prices, a financial advice firm has highlighted
Posted: 19/09/2019
Habito has unveiled its first suite of company buy-to-let (BTL) mortgages, adding to the individual BTL mortgages that it launched two months ago
Posted: 18/09/2019
A record number of people have contacted StepChange for help with their debts this year, the UK’s largest debt advice charity has revealed
Posted: 18/09/2019
UK house prices have seen their lowest annual growth in seven years
Posted: 18/09/2019
Broadleaf Financial Services has been bought by the AFH Financial Group, the two companies have confirmed
Posted: 18/09/2019
Advisers should be urging their clients to check if any trusts they hold are registered in order to avoid an unintentional fine, WAY Investment Services has cautioned
Posted: 18/09/2019
The vast majority of young Britons would still prioritise buying a home over renting one, research collated by Share to Buy has shown
Posted: 17/09/2019
Mortgage lending has gone up across the majority of the sector, according to the new Mortgage Trends Update released by UK Finance
Posted: 17/09/2019
Conveyancing platform and case management system The Moving Hub has partnered with The Property Jungle, a provider of bespoke and template property websites
Posted: 17/09/2019
Homeowners planning on taking out one of the new retirement interest-only (RIO) loans face paying a “shocking” premium for continuing to delay the repayment of their capital balance, according to Royal London
Posted: 17/09/2019
Investment platform AJ Bell has introduced a new solution to help financial advisers manage clients taking an income in retirement
Posted: 16/09/2019
Sainsbury’s is in talks with financial advisers as it explores a sale of its mortgage book for £1.3bn
Posted: 16/09/2019
Vida Homeloans has unveiled a new education campaign called Every mortgage tells a story, that aims to assist brokers in identifying specialist customers
Posted: 16/09/2019
The Conveyancing Association (CA) has outlined issues around ID checks in the home buying process in its response to the government’s consultation on digital identity
Posted: 16/09/2019
Foundation Home Loans has announced the launch of two new five-year buy-to-let (BTL) fixed-rate mortgages, as well as a series of rate cuts across other products in its range
Posted: 16/09/2019
The number of new agreements for second charge mortgages rose by nearly a quarter in July, according to the latest figures from the Finance & Leasing Association (FLA)
Posted: 13/09/2019
Specialist lender Together has today revealed record growth as its loan book reached a new high of £3.7bn
Posted: 13/09/2019
Shadow chancellor John McDonnell has indicated that the Labour party would propose a new financial transaction tax to raise money for the Treasury
Posted: 13/09/2019
The AFH Financial Group has completed the acquisitions of two IFA businesses – Mulberry Independent Financial Advisers and AE Garment Independent Financial Services
Posted: 13/09/2019
Paragon Banking Group has announced today that it will be appointing Richard Rowntree as its new managing director of mortgages, subject to regulatory approval
Posted: 12/09/2019
The next autumn report by the Equity Release Council will reveal that the number of customers served by the industry in the first half of 2019 was down on the same period in 2018
Posted: 12/09/2019
A son has lost a three-year court battle with his three siblings over his mother’s will, after a judge decided that her dementia symptoms had not adversely affected her capacity to set out her final wishes
Posted: 12/09/2019
The mortgage market does not want to see the FCA rowing back on the commitments it made in the Mortgage Market Review (MMR) around the need for advice, a leading group of lenders has said
Posted: 12/09/2019
Near term sales expectations in the UK residential market have slipped deeper into negative territory
Posted: 12/09/2019
Borrowers who originally came through the intermediary channel but opt to conduct future mortgage business via execution-only channels have been branded ‘a missed opportunity’ for advisers
Posted: 11/09/2019
Housing market sentiment in the UK has fallen to its second lowest level since the EU referendum, the Building Societies Association (BSA) has revealed
Posted: 11/09/2019
The government’s approach to the private rented sector is “incoherent”, according to a former member of the Bank of England’s Monetary Policy Committee (MPC)
Posted: 11/09/2019
Four in ten people do not know how much money can be passed on inheritance tax free in the UK, new research from Zurich has found
Posted: 11/09/2019
Britons aged over 60 are missing out on up to £1.75bn in pension savings by opting out of their workplace pensions, according to new figures released by Royal London
Posted: 11/09/2019
The proportion of mortgages advanced last quarter with a loan to value (LTV) ratio exceeding 90% was the highest in nearly 11 years, the latest official statistics have shown
Posted: 10/09/2019
The Money Group has rolled out a new enquiry to completion mortgage processing CRM platform for brokers across all of its brands
Posted: 10/09/2019
Major digitisation of the wealth management industry is needed if traditional sector players are to prosper in the future, a new report has claimed
Posted: 10/09/2019
Interest only loans continued to attract strong attention from mortgage brokers and borrowers in August, according to the latest analysis released by criteria search specialist Knowledge Bank
Posted: 10/09/2019
Lloyds Banking Group faces an extra bill of up to £1.8bn, covering claims for the mis-selling of Payment Protection Insurance (PPI)
Posted: 09/09/2019
Over 90% of UK advisers have changed their approach to adviser charging in the last two years, according to Platforum
Posted: 09/09/2019
Earl Shilton Building Society (esbs) has joined the SimplyBiz Mortgages panel
Posted: 09/09/2019
Smartr365 has announced the upcoming integration of Legal & General Mortgage Club’s digital mortgage criteria searching tool, SmartrCriteria
Posted: 09/09/2019
The Institute of Public Policy Research Commission on Economic Justice is calling for a change to the way wealth is taxed.
It has suggested capital gains should be taxed at the same rate as income, and this would see tax rates on gains from share price rises hiked from 18% to 45% for higher rate taxpayers
It has suggested capital gains should be taxed at the same rate as income, and this would see tax rates on gains from share price rises hiked from 18% to 45% for higher rate taxpayers
Posted: 09/09/2019
Product providers, financial advisers and the FCA are being urged by the Personal Finance Society (PFS) to ensure that Innovative Finance ISAs are designed and promoted in a way that won’t exploit behavioural biases
Posted: 09/09/2019
Specialist lender, Hodge, has launched the UK’s first ever RIO mortgage with a fixed rate for life
Posted: 09/09/2019
Four out of every five (80 per cent) savers underestimate how much money they will need to save to see them through retirement, according to research from Scottish Widows
Posted: 06/09/2019
The Payment Systems Regulator (PSR) has named its new managing director, Chris Hemsley
Posted: 06/09/2019
eKeeper has partnered with Optimus to streamline its conveyancing process with the latest release of its broker-CRM solution, used by over 400 regulated broker firms
Posted: 06/09/2019
First-time buyers (FTBs) will continue to be the largest home buyer group in the UK over 2019, accounting for 36 per cent of residential property sales, data published by Zoopla revealed
Posted: 06/09/2019
House prices held steady in August, recording a 0.3 per cent monthly rise and a 0.1 per cent quarterly rise in the month, according to the latest Halifax House Price Index
Posted: 06/09/2019
Victims of property scams pay-out an average £107,669, with 678 property fraud claims having been made in the last 14 years and the total loss equating to £73.3m
Posted: 05/09/2019
Lower salaries, insecure employment and austerity are fuelling a growing debt crisis, the Trades Union Congress (TUC) has warned
Posted: 05/09/2019
The Financial Conduct Authority (FCA) has announced that Kate Collyer has been appointed as its new chief economist, taking up the role in October
Posted: 05/09/2019
Premier Asset Management has agreed a merger with Miton to create a group with £11.5bn assets under management
Posted: 05/09/2019
Bluestone Mortgages has today announced its latest distribution partnership with Dynamo for Intermediaries, with the club’s members now able to access Bluestone’s product range
Posted: 05/09/2019
Moneybox has announced the launch of a 95-day notice account powered by Investec, offering customers a competitive rate of 1.65 per cent AER variable on savings from £1 to £85,000
Posted: 04/09/2019
An unfurnished, pet-friendly home with access to a garden is the most desirable rental property, according to research conducted by specialist Buy-to-Let (BTL) lender Landbay
Posted: 04/09/2019
Specialist Buy-to-Let (BTL) lender Landbay has partnered with the Next Intelligence mortgage club, Mortgage Intelligence, Mortgage Next and FYB Network brands
Posted: 04/09/2019
Just over 70 per cent of British workers feel that Brexit will damage the UK economy in the long term, according to a poll conducted by Spearvest
Posted: 04/09/2019
Investors have been urged to safeguard their wealth by deVere group founder and CEO Nigel Green, after Prime Minister Boris Johnson lost the first round of a 48-hour Brexit battle in the House of Commons
Posted: 04/09/2019
Ahead of tomorrow’s Spending Review, the Institute for Fiscal Studies (IFS) has calculated that the Treasury will need to find an extra £5bn from next year to fund the government’s spending promises, adding that the increase could undermine the Treasury’s commitment to reduce borrowing
Posted: 03/09/2019
Online financial advice service OpenMoney has appointed James Brocklebank as head of mortgage proposition, as the firm extends its offering to include mortgage advice
Posted: 03/09/2019
An increased number of millennials are falling victim to scams designed to trick them into handing over cash to fraudsters than any other age group, new data from Lloyds Bank revealed
Posted: 03/09/2019
Specialist Buy-to-Let (BTL) lender Fleet Mortgages has announced a new funding partnership with New York-based asset management firm One William Street (OWS) Capital Management
Posted: 03/09/2019
Keeping income withdrawal rates within sustainable levels is crucial to the long-term success of income drawdown portfolios, according to Royal London
Posted: 03/09/2019
British digital banks such as Revolut and Monzo are set to treble their number of customers in the next year, as the challengers increase their efforts to complete against high street rivals and disrupt the retail lending market
Posted: 03/09/2019
British expatriates in EU countries will continue to have their state pensions uprated in a no-deal Brexit scenario, the government said over the weekend
Posted: 02/09/2019
Buy-to-Let lender Landbay has announced a rate cut on its most popular product, with its standard five-year fixed offer now starting at 3.35%
Posted: 02/09/2019
One in six people admitted they will definitely be over the age of 65 by the time they finish repaying their mortgage, while another 9 per cent said they have no idea when it will be paid off, research from Hargreaves Lansdown revealed
Posted: 02/09/2019
Bluestone Mortgages has completed its inaugural residential mortgage-backed securitisation, Genesis 2019-1, which raised £210m of rated term funding for the lender
Posted: 02/09/2019
House prices in London could fall by up to 7% by the end of 2020 if the UK leaves the bloc without a deal on 31 October, according to research from accountancy firm KPMG
Posted: 02/09/2019
Smartr365 has launched SmartrSuitability, a new platform feature which significantly reduces the time to produce both mortgage and protection suitability letters, saving brokers up to an hour per application
Posted: 30/08/2019
Annual house price growth remained below 1% for the ninth month in a row in August, at 0.6%, according to the Nationwide House Price Index
Posted: 30/08/2019
Mortgage approvals for house purchase increased in July to 67,300, the highest level since July 2017, latest figures published by the Bank of England (BoE) have shown
Posted: 30/08/2019
Just 100,000 people have deposited money into the Help to Save scheme, with the average deposit rising to £47 a month
Posted: 30/08/2019
HMRC raked in an extra £11bn in income tax in 2018/19, according to latest figures.
According to the non-ministerial department, total net income tax receipts for 2018/19 was estimated at £191bn, 6% higher than the previous year. Furthermore, UK citizens are paying almost 30% more income tax today than they did 10 years ago
According to the non-ministerial department, total net income tax receipts for 2018/19 was estimated at £191bn, 6% higher than the previous year. Furthermore, UK citizens are paying almost 30% more income tax today than they did 10 years ago
Posted: 30/08/2019
The Low Incomes Tax Reform Group (LITRG) is advising taxpayers to check the accuracy of the savings income figures shown in their HMRC PAYE Notices of Coding and tax calculations (P800 forms), as many are paying are too much tax
Posted: 29/08/2019
Just under 80 per cent of investors admitted they would switch financial adviser if they felt they were not receiving value for money, according to data published by AFH Wealth Management
Posted: 29/08/2019
Bluestone Mortgages has appointed its former director of sales and marketing Steve Seal as its new managing director
Posted: 29/08/2019
The “already battered pound” has taken yet another hit as the Queen approves Prime Minister Boris Johnson’s request to suspend Parliament from mid-September
Posted: 29/08/2019
Almost half (44 per cent) of advisers admitted they advise clients who stagger their retirement to make no changes to the risk profile of their investments
Posted: 28/08/2019
Just under a third (28 per cent) of families are saving to be able to help their children with the deposit on their first home, according to figures published by Foresters Friendly Society
Posted: 28/08/2019
Investec Structured Property Finance (Investec) has provided James Taylor Homes, a residential developer, with a £25m term loan to fund the redevelopment of the former Antionette Hotel in Kingston-upon-Thames into 89 residential units
Posted: 28/08/2019
Equity release and later life adviser Air Mortgage Club has added Mansfield Building Society to its retirement lending panel
Posted: 28/08/2019
First 4 Bridging has launched its specialist distribution offering into the second charge mortgage market
Posted: 28/08/2019
Prime Minister Boris Johnson has asked the Queen to suspend Parliament between 9 September and 14 October, therefore restricting MPs’ ability to prevent a no-deal Brexit
Posted: 28/08/2019
Claims management companies (CMCs) must do more to ensure their promotions do not mislead potential customers, the FCA has said
Posted: 27/08/2019
The Bank of Mum and Dad (BoMaD) contributed £6.3bn in 2019 to help their children get on the housing ladder, the equivalent of a top 10 UK mortgage lender, latest L&G research has revealed
Posted: 27/08/2019
The number of people moving home increased for the first time in three years in the first half of 2019, according to latest figures
Posted: 27/08/2019
Gross mortgage lending across the residential market in July 2019 was £26.1bn, 2.9% higher than the same month in 2018 and the highest since March 2016, latest statistics from UK Finance have revealed.
In its latest Household Finance Update, UK Finance said there were 95,126 mortgages approved by the main high street banks in July 2019, the highest monthly total since July 2009 when the figure stood at 99,970. Mortgage approvals for home purchase were 16.4% higher, remortgage approvals were 19.4% and approvals for other secured borrowing were 12.7% higher than the same month a year earlier
In its latest Household Finance Update, UK Finance said there were 95,126 mortgages approved by the main high street banks in July 2019, the highest monthly total since July 2009 when the figure stood at 99,970. Mortgage approvals for home purchase were 16.4% higher, remortgage approvals were 19.4% and approvals for other secured borrowing were 12.7% higher than the same month a year earlier
Posted: 27/08/2019
Increasing the higher rate income tax threshold from £50,000 to £80,000 would create “income tax winners” for those earning above £50k, but pension savers earning between these two values “will need to swallow the loss of higher rate pensions tax relief or take a 25% cut in future pension”, Aegon has said
Posted: 27/08/2019
Conveyancing cases have dropped to their lowest number for two years, according to latest figures
Posted: 22/08/2019
John Charcol has formed an equity release referral partnership with Key Partnerships
Posted: 22/08/2019
UK homeowners on a fixed rate repayment mortgage could save £5,895 and reduce their term by three years and two months by overpaying an extra £100 a month, new research has shown
Posted: 22/08/2019
Financial planning tech firm, Wealth Wizards, is developing software that will enable financial advisers to implement a digital ‘abridged advice’ service
Posted: 22/08/2019
Customers of Royal Bank of Scotland (RBS), Tesco and Nationwide Building Society were unable to pay credit card bills and access account information yesterday after US payments company TSYS suffered an IT outage
Posted: 21/08/2019
Work and Pension Secretary Amber Rudd has said the state pension age (SPA) will not be increased to 75, as proposed by think tank The Centre for Social Justice (CDJ)
Posted: 21/08/2019
Saffron Building Society has introduced a new 5-year fixed product in a bid to strengthen its specialist lending range for landlords, while also improving its rates and reducing arrangement fees on its 2-year limited company buy-to-let (BTL) mortgage
Posted: 21/08/2019
Builders and developers registered the highest number of new homes for 12 years in the last three months, with more than 43,000 recorded in the UK, according to the National House Building Council (NHBC)
Posted: 21/08/2019
Residential property transactions in July dropped 12.4% annually and 8.5% monthly, totalling 86,630, according to the latest figures from HM Revenue & Customs (HMRC)
Posted: 21/08/2019
Right to buy was amongst the most-searched-for residential lender criteria by brokers for the first time in July, according to Knowledge Bank’s monthly criteria tracker
Posted: 20/08/2019
There were 9,960 new first-time buyer (FTB) mortgages completed in London in Q2 2019, 1.2 per cent more than in the same quarter in 2018
Posted: 20/08/2019
Bank of England (BoE) governor Mark Carney has claimed the central bank will not pursue negative interest rates, a monetary policy method previously adopted by the European Central Bank (ECB) and Bank of Japan
Posted: 20/08/2019
The amount of prospective home buyers who meet the qualifying criteria for every mortgage deal on the market is as low as 3.5 per cent, according to analysis from Experian
Posted: 19/08/2019
Chancellor Sajid Javid stated he has no plans to transfer stamp duty from buyers to sellers, claiming in a tweet that it’s a motion he “wouldn’t support”
Posted: 19/08/2019
Three quarters of advisers claimed there was a need for greater education and additional resources in the market to provide practical guidance on how to recognise and handle vulnerable clients
Posted: 19/08/2019
Banks need to invest in their mobile banking channel to make it more mainstream, according to GlobalData
Posted: 19/08/2019
The Upper Tribunal has found that Andrew Tinney, the former Chief Operating Officer (COO) of Barclays Wealth and Investment Management (Barclays Wealth), breached his obligation as an approved person to act with integrity
Posted: 16/08/2019
Landlords who are planning to add to portfolios in the next year, are much more likely to do so via a limited company vehicle, latest landlord research from Foundation Home Loans has revealed
Posted: 16/08/2019
A third of all landlords intend to remortgage over the course of the next 12 months, with larger, portfolio landlords much more likely to do so within a limited company
Posted: 16/08/2019
A majority of landlords believe future government U-turns on the increase in stamp duty payable on additional property and on the phased-in cuts to mortgage interest tax relief, could provide a significant stimulus to both the buy-to-let and private rental sectors
Posted: 16/08/2019
Scottish Building Society has launched a mortgage product designed to allow the purchase or remortgage of holiday lets marked through companies such as Airbnb
Posted: 15/08/2019
Monzo has announced it will be offering short-term loans to its 2.5 million customers as the digital bank looks to take on incumbents with a range of digital banking services
Posted: 15/08/2019
Specialist residential and buy-to-let lender Vida Homeloans has appointed Mil Consiglio as its new key account manager for the Midlands region
Posted: 15/08/2019
The number of first-time buyer (FTB) and homemover mortgage completions dropped by 1.5 per cent and 3.6 per cent respectively in June, according to UK Finance’s latest Mortgage Trends data
Posted: 15/08/2019
UK conveyancer and panel management specialist LMS has partnered with Leek United Building Society, with the firm becoming the twenty-fifth mortgage lender to utilise Panel Link
Posted: 15/08/2019
More than a third (34 per cent) of investors have predicted a world-wide recession within the next 12 months, the highest proportion in eight years as trade war worries linger over global markets
Posted: 14/08/2019
Almost 80 per cent of brokers claimed some of their clients have expressed some dissatisfaction with the manual, paper-based mortgage process
Posted: 14/08/2019
deVere CEO and founder Nigel Green has claimed that Her Majesty’s Revenue and Customs’ (HMRC) latest bid to recover unpaid taxes on cryptocurrencies demonstrates that digital assets are the “future of money”
Posted: 14/08/2019
Financial advisory firms “should be more concerned” over the rise in popularity of digital finance advice platforms, according to data and analytics firm GlobalData
Posted: 14/08/2019
Trade association for investment managers and financial advisers PIMFA has criticised the latest 50:50 funding proposal from the Financial Ombudsman Service’s (FOS) Our Future Funding consultation
Posted: 14/08/2019
Half of advisers advising DB members think that a ban on contingent charging would result in a fall in demand for DB advice, effectively increasing the advice gap
Posted: 13/08/2019
UK wage growth picked up to 3.9% in the year to June, the highest rate for 11 years, according to the ONS
Posted: 13/08/2019
Five brokers in Just Mortgages’ self-employed division will now be trading as commercial brokers thanks to a partnership with leading commercial broker Fiducia
Posted: 13/08/2019
More than half of landlords plan to use limited companies to buy properties in the year ahead underlining the ongoing transformation of the buy-to-let market
Posted: 13/08/2019
The investment company industry’s assets have passed the £200bn milestone for the first time, reaching a record £200.3bn on 31 July 2019, driven by the alternative sectors
Posted: 13/08/2019
Bridging loan books grew to a record £4.62bn at the end of the second quarter of this year, representing growth of 11.7% compared to Q1 2019 and an increase of 14.4% on the same quarter last year
Posted: 13/08/2019
A quarter of British adults agreed that seeing Unicorns and their initial public offerings (IPOs) fail or not fulfil their potential, such as Uber’s, has made investing into them less attractive
Posted: 12/08/2019
Experience Invest has announced the launch of Yieldbase – an online platform dedicated to the buying and selling of income-generating rental properties
Posted: 12/08/2019
Saffron Building Society has added new mortgage products to its retirement interest only (RIO) offering, including new fixed rate options and reduced rates on existing RIO products
Posted: 12/08/2019
Paradigm Mortgage Services has revealed the addition of Beverley Building Society to its lender panel
Posted: 12/08/2019
TMA Club has announced the addition of Harpenden Building Society to its lender panel, granting TMA members immediate access to the lender’s range of mortgage products
Posted: 12/08/2019
The UK economy declined by 0.2 per cent between April and June, its worst recorded performance since 2012, according to data published by the Office for National Statistics (ONS)
Posted: 09/08/2019
Former Pensions Minister Steve Webb has branded “reckless caution” a fault of pension freedoms, labelling it as the thing that has “gone wrong” with the policy
Posted: 09/08/2019
UK adults spend an average of £1,093.90 each month on treats and non-essential items, despite having £371.30 in disposable income
Posted: 09/08/2019
A majority (52 per cent) of mortgage brokers claimed the specialist lending market will grow by at least £1bn over the next six months, according to Bluestone Mortgages Specialist Lending Tracker
Posted: 09/08/2019
Specialist lender Together has increased its maximum age to 85, meaning those aged up to 82 can take out a loan from the provider
Posted: 09/08/2019
The proportion of homeowner mortgages in arrears remained at “historically low levels” in Q2 2019, figures published by UK Finance revealed
Posted: 08/08/2019
A landlord stepped in to support his son in purchasing a home by releasing equity against one of his existing rental properties, having the finance provided in ten days after contacting Together
Posted: 08/08/2019
Four Hargreaves Lansdown executives, including the chief executive, have said they will surrender their bonuses this year after the company supported Neil Woodford’s flagship fund up until its suspension
Posted: 08/08/2019
Almost a third (30 per cent) of older homeowners are using equity release to repay unsecured debt while 20 per cent are using it to repay mortgages, analysis from Key revealed
Posted: 08/08/2019
Average house prices dipped once again in July, falling 0.2 per cent month-on-month to £236,120, after being recorded at £237,110 last month
Posted: 07/08/2019
Those actively seeking to increase their retirement income who are presented with a pension scam are 60 per cent more likely to fall victim to it, joint research conducted on behalf of the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) revealed
Posted: 07/08/2019
Saffron Building Society has reduced its rates and extended terms on self-employed and contractor mortgages in a bid to further expand its specialist situations range
Posted: 07/08/2019
HSBC Global Asset Management has announced the appointment of Nicolas Moreau as its new CEO
Posted: 07/08/2019
Over 55s claimed they would need to inherit an extra £184,484 to feel “comfortable” for the rest of their lives, according to research from SunLife
Posted: 07/08/2019
Savers are not receiving the best deals and rates for their savings by sticking with same account provider, research published by the Current Account Switch Service revealed
Posted: 07/08/2019
There were 49.1 million application programming interface (API) requests made in April, more than double the number recorded in February, the Open Banking Implementation Entity (OBIE) revealed
Posted: 06/08/2019
Investors should receive clearer warnings surrounding the risks of fund suspension, according to the Association of Investment Companies (AIC) chief executive Ian Sayers
Posted: 06/08/2019
Hope Capital has extended its lending to borrowers who have filed for bankruptcy, Individual Voluntary Agreements (IVAs) or who have an impaired credit history
Posted: 06/08/2019
Private equity investment in the UK has plummeted to its lowest level in over five years, with continued economic and geopolitical uncertainty leaving vendors wary of putting assets up for sale
Posted: 06/08/2019
Prime property prices in the capital recovered slightly in the second quarter of 2019, edging up 3.1 per cent when compared to prices at the end of 2018
Posted: 06/08/2019
The Work and Pensions (W&P) Committee is “unconvinced” the industry can illustrate how they are providing value for money to customers and has called on the government to compel them to do so
Posted: 05/08/2019
Ipagoo, authorised and supervised by the Financial Conduct Authority (FCA) to issue e-money and provide payment services under the Electronic Money Regulations (EMRs) 2011, has entered administration
Posted: 05/08/2019
Half of global financial services organisations have fallen victim to sensitive data theft of system failure and downtime due to insecure software or technology, a survey conducted by Ponemon Institute revealed
Posted: 05/08/2019
Online mortgage broker Trussle has started providing customers with advice on shared ownership mortgages, in a bid to help prospective customers take their first steps on the property ladder
Posted: 05/08/2019
Financial Conduct Authority (FCA) chief executive and frontrunner of the Bank of England (BoE) leadership race Andrew Bailey has warned politicians not to interfere with the central bank’s independence
Posted: 05/08/2019
Former business secretary Greg Clark has put himself forward to replace Nicky Morgan as chair of the Treasury Select Committee
Posted: 05/08/2019
As sterling reaches 31-month lows against the dollar, the Bank of England (BoE) has warned of consequences for the UK economy in the event of a no-deal Brexit
Posted: 02/08/2019
The Treasury Select Committee has called for the Financial Conduct Authority (FCA) to be granted greater formal regulatory powers, claiming its current regulatory perimeter is “insufficient”
Posted: 02/08/2019
Big four firm KPMG has been hit with a £3.5m fine by the Financial Reporting Council (FRC), while one of its directors, Richard Hinton, was handed a £52,000 penalty over their client assets report for The Bank of New York (BNY) Mellon London branch and BNY Mellon in 2011
Posted: 02/08/2019
London Stock Exchange Group (LSE) revealed yesterday it had finalised a deal to acquire data firm Refinitiv in a transaction worth £22.3bn
Posted: 02/08/2019
PMS Mortgage Club and Sesame Network have added Gatehouse Bank’s range of finance products to its respective panels
Posted: 02/08/2019
PRIMIS Mortgage Network has announced the addition of specialist lender Together to its lender panel
Posted: 01/08/2019
The Bank of England’s (BoE) Monetary Policy Committee (MPC) voted unanimously to maintain bank rate at 0.75 per cent in its latest meeting
Posted: 01/08/2019
Neil Woodford has breached fund restrictions after two of his largest funds were delisted from the Guernsey stock exchange
Posted: 01/08/2019
The UK’s new Chancellor, Sajid Javid, announced an additional £2.1bn of funding to “turbocharge” no-deal Brexit preparations, including funds to ensure the “continuity of vital medicines”
Posted: 01/08/2019
A two-speed equity release market emerged in the second quarter of 2019 as sales of new drawdown mortgages increased, while take-up of new lump sum mortgages mirrored the volumes seen in Q1 2018, figures published today found
Posted: 31/07/2019
Bank of England (BoE) governor Mark Carney failed to make the short-list of candidates hoping to be appointed as the next head of the International Monetary Fund (IMF)
Posted: 31/07/2019
Pension savers hit with the emergency ‘Month 1’ tax bills from HMRC for accessing their pension reclaimed a record £47m using official forms in Q2 2019, according to latest figures
Posted: 31/07/2019
Attitude Financial Services has announced the launch of a new financial advice proposition targeted at the LGBTQ community
Posted: 31/07/2019
The number of pension transfers to QROPS remained relatively flat in the 2018/19 tax year at 5,000 transfers (up 6%) worth a total of £640m (down 14%) compared to the previous tax year (4,700 transfers worth £740m), highlighting the effect that the QROPS charge has had
Posted: 31/07/2019
Lloyds Banking Group has entered exclusive talks to purchase the £3.7bn mortgage book from the banking arm of supermarket giant Tesco
Posted: 31/07/2019
Proposals set out today by the FCA around banning contingent charging for pension transfer advice, particularly for DB to DC transfers, is estimated to result in up to a £445m pa reduction in adviser revenue
Posted: 30/07/2019
Neil Woodford’s flagship fund, the Woodford Equity Income Fund, will remain suspended until December, Link Fund Solutions, the Authorised Corporate Director (ACD) of the fund, said in a letter issued yesterday
Posted: 30/07/2019
Barclays, the Royal Bank of Scotland (RBS) and three other banks have been targeted in a class action lawsuit, worth £1bn, over foreign exchange (forex) rigging, filed yesterday
Posted: 30/07/2019
The FCA has today confirmed its intention to require providers to offer investment ‘pathways’ to non-advised drawdown customers
Posted: 30/07/2019
Vida Homeloans has announced the launch of a new range of Help-to-Buy (HTB) specialist mortgage products for first-time buyers, movers and remortgagers which includes an option specifically designed for HTB staircasing
Posted: 30/07/2019
A proposed ban on contingent charging for pension transfer advice has today been set out by the FCA
Posted: 30/07/2019
The growing number of individuals entering a personal insolvency procedure displayed “few signs of slowing” as the rolling twelve-month insolvency figure continued to rise, representing the highest second quarter figure since 2010
Posted: 30/07/2019
The pound is going to continue to fall in the short to medium-term under Boris Johnson or Jeremy Corbyn, argued deVere Group founder and CEO Nigel Green
Posted: 30/07/2019
Transaction volumes on the London Stock Exchange (LSE) were down by almost 25 per cent in the first half of 2019 compared to the same period in 2018, with The Share Centre blaming the drop on Brexit uncertainty
Posted: 29/07/2019
FinTech financing hit $10.9 billion during the second quarter of 2019 – the second best quarterly performance ever recorded by FT Partners
Posted: 29/07/2019
The majority of advisers feel that they are relied upon ‘completely’ by newly established business clients to help them through their auto-enrolment (AE) responsibilities, The Pensions Regulator (TPR) has revealed
Posted: 29/07/2019
The self-employed are selling “selling themselves short” when it comes to the prospect of homeownership, according to specialist lender Together
Posted: 29/07/2019
More than 60 per cent of financial advisers claimed there has been insufficient industry focus on decumulation solutions and predict this area will grow exponentially within the next five years
Posted: 29/07/2019
Locally administered pensions schemes are struggling to get to grip with their responsibilities, The Pensions Regulator (TPR) has revealed
Posted: 29/07/2019
Several European associations representing banks and third party providers (TPPs) have released a joint statement agreeing on joint efforts regarding the transition to EU new payment rules
Posted: 29/07/2019
Long-term charges on auto-enrolment (AE) schemes are costing savers up to nearly £7,000 of their pension pots over two decades of saving, Now Pensions has revealed
Posted: 26/07/2019
Demand from investors for bridging finance has gathered pace as Brexit uncertainty continued to mound alongside lending restrictions on banks, data from Bridging Trends revealed
Posted: 26/07/2019
Following its entrance into the later-life lending advice market, Knight Frank Finance has joined the Equity Release Council, making it the first major property firm to do so
Posted: 26/07/2019
Vida Homeloans has recently joined the lending panel of Master Private Finance, the specialist mortgage desk for the mortgage and protection network
Posted: 26/07/2019
Boris Johnson's promise to fix problems with the Lifetime Allowance (LTA) should cover all pension savers in the UK, not just NHS doctors, says Salisbury House Wealth
Posted: 26/07/2019
People favour face-to-face and over-the-phone contact, despite the increasing amount of digital communication channels available to them, according to new research
Posted: 26/07/2019
Amber Rudd has kept her role as the Work and Pensions Secretary in the new Prime Minister Boris Johnson’s cabinet reshuffle, in what has been described by some as a “bloodbath”
Posted: 26/07/2019
Business bank account switching has more than doubled in a year, according to the latest figures from the Current Account Switch Service (CASS)
Posted: 26/07/2019
Gross mortgage lending in June was down on May’s total and the figure from June 2018, according to the latest figures published by UK Finance
Posted: 24/07/2019
Saga Money CEO Jeff Bromage has called on the government to simplify inheritance tax (IHT) rules after describing them “as clear as mud”
Posted: 24/07/2019
The Public Accounts Committee (PAC) has slammed the government for failing to sell enough public land for new houses to be built on, arguing it has prolonged “the nation’s housing crisis”
Posted: 24/07/2019
More than half (52 per cent) of UK consumers are looking for new tools and apps, such as those enabled by Open Banking, to help them feel more in control of their finances
Posted: 24/07/2019
The pensions industry has reacted to the election of Boris Johnson as leader of the Conservative Party, with one expert asking him not to 'neglect' the domestic pensions agenda in the UK
Posted: 24/07/2019
After being dubbed as the favourite by many and winning today’s Tory leadership race, deVere Group CEO and founder Nigel Green claimed the pound will “not drop too much” or “for too long”
Posted: 23/07/2019
Former Mayor of London and Foreign Secretary, Boris Johnson, has been announced as the new Conservative leader, succeeding Theresa May
Posted: 23/07/2019
Lloyds Bank is to pay Standard Life Aberdeen (SLA) around £140m in a settlement intended to end their long-running dispute over an asset management contract
Posted: 23/07/2019
The government has no plans to uprate the ‘age additional amount’ of 25 pence per week paid out to state pension recipients over the age of 80, Pensions Minister Guy Opperman has said
Posted: 23/07/2019
Morgan Stanley is launching a digital vault to enable document sharing between wealth management clients and their financial advisers
Posted: 23/07/2019
Drawdown investors' pension savings could have increased by up to £62,000 since the introduction of pension freedoms, research from Aegon has revealed
Posted: 23/07/2019
Over 5,000 inheritance tax (IHT) investigations are opened by Her Majesty’s Revenue & Customs (HMRC) each year, accounting for nearly 25 per cent of all estates that were liable for the tax in 2018/19, a freedom of information (FOI) request found
Posted: 22/07/2019
Token.io has partnered with UK property marketplaces, StuRents and Mashroom, to give renters, landlords and agents access to Open Banking services, including bank direct payments and data aggregation
Posted: 22/07/2019
ME Group, the legal tech business, has asked MPs for help in encouraging regulatory bodies to speed up thousands of claims for mortgage mis-selling and mortgage overpayments
Posted: 22/07/2019
Asset managers are beginning to regain some initiative after having control of the market taken away from them as a result of the Retail Distribution Review (RDR) in Q4 2012, according to Platforum research director Richard Bradley
Posted: 22/07/2019
TMA Club has today announced its partnership with insurance provider, LV=, to offer its members access to the lender’s Lifetime Mortgage Lump Sum+ and Flexible Lifetime Mortgage products
Posted: 22/07/2019
The Pensions Regulator’s (TPR) latest annual report has highlighted its increase in regulatory activity following its change to a ‘quicker, clearer, tougher’ approach
Posted: 22/07/2019
A quarter of UK investors currently hold investments they want to liquidate but are unable to as a result of unexpected fees, research from Experience Invest has revealed
Posted: 19/07/2019
Average equity release loans taken out by customers slipped in value by nearly £2,000 to £76,064 in the first half of 2019, when compared to H1 2018, suggesting that the market has stabilised in the face of economic and political uncertainty, according equity release adviser Key
Posted: 19/07/2019
Almost three-quarters (74 per cent) of businesses want auto-enrolment (AE) to be extended to include the self-employed and those earning less than £10,000, a study has shown
Posted: 19/07/2019
Bitcoin, the world’s largest cryptocurrency by market value, jumped 9 per cent on Thursday, despite U.S. lawmakers’ and Trump’s recent criticisms of digital assets, with the U.S. president last week tweeting they were “based on thin air”
Posted: 19/07/2019
Around 90 per cent of cases heard by The Pensions Ombudsman are concluded without the intervention of the pensions ombudsman, Anthony Arter, himself taking part
Posted: 19/07/2019
New research from TSB has revealed that more than half (57 per cent) of over 55s say they never use mobile banking, despite being smartphone users. This is in contrast to 82 per cent of 18 to 34 year-olds who say they use mobile banking
Posted: 19/07/2019
Banking Competition Remedies (BCR) has announced the results of the second Incentivised Switching Scheme application process, with only Habib Bank Zurich applying and meeting the eligibility criteria
Posted: 18/07/2019
HMRC does not know how many people they are fining each year over breaches to pension tax relief regulations, Royal London has revealed
Posted: 18/07/2019
Members of the Sesame network now have access to Investec’s range of mortgages for high-net worth (HNW) individuals, following the addition of the private bank to its panel
Posted: 18/07/2019
Facebook is prepared to postpone the launch of its Libra digital currency until global financial regulators are satisfied that it meets security, data privacy and consumer protection standards
Posted: 18/07/2019
Investors estimated that platform fees would cost an average of £7,400, undervaluing the true £12,500 cost by more than £5,000, according to research from AFH Wealth Management
Posted: 18/07/2019
The number of self-employed workers in the UK has increased by 17 per cent to 5 million since the introduction of auto-enrolment (AE), according to the Office for National Statistics (ONS), leading to further calls for the government to amend AE legislation
Posted: 18/07/2019
Investigations have begun into whether “rogue advisers” are advising employers to change their identity to avoid compliance with pension regulations
Posted: 17/07/2019
Boris Johnson, favourite to win the Tory leadership race, has confirmed his interest in switching stamp duty liability from the house buyer to the seller, as proposed by the Association of Accounting Technicians (AAT)
Posted: 17/07/2019
Annual house price growth dipped from 1.5 per cent in April to 1.2 per cent in May, driven mainly by a slowdown in the south and east of England, according to data from the Office for National Statistics (ONS)
Posted: 17/06/2019
Specialist mortgage lender Vida Homeloans has announced the appointment of Claire Ashkam as its new sales manager for the North, supporting its existing key account managers
Posted: 17/07/2019
Consumers could be in line to receive money they had lost as a result of their dealings with any of the 11 failed regulated firms declared in default in June 2019 by the Financial Services Compensation Scheme (FSCS)
Posted: 17/07/2019
The Consumer Prices Index rate of inflation remained at the Bank of England’s 2 per cent target in the 12 months to June 2019, the Office for National Statistics has revealed
Posted: 17/07/2019
The Open Banking Implementation Authority (OBIE) has published a report on the progress of the data sharing reforms, paving the way for expanding them into other areas of finance
Posted: 17/07/2019
The use of artificial intelligence (AI) in financial services is still only at a “nascent” phase, with a number of firms yet to ask themselves fundamental questions around ethical use, according to the Financial Conduct Authority’s executive director of strategy and competition
Posted: 17/07/2019
The average FTSE 250 employer contribution rate into defined contribution pension schemes has risen by 40 per cent year-on-year, from 4.3 per cent to 6.1 per cent
Posted: 16/07/2019
Key workers, such as nurses and teachers, are being priced out of London and the South East as private rents soar beyond average wages
Posted: 16/07/2019
The UK FinTech sector is on course for a record year, with investment in the first half of 2019 reaching $2.9 billion across 123 deals, up 45 per cent on 2018
Posted: 16/07/2019
The number of remortgages completed in May increased sharply compared to the same month last year, rising almost 20 per cent, while purchases dipped slightly, figures from UK Finance revealed
Posted: 16/07/2019
After acquiring Burrow, eKeeper has worked in coalition with mortgage broker One77 Mortgages to “shape and integrate the technology into the traditional broker model”
Posted: 16/07/2019
The European Securities and Markets Authority (ESMA) has found regulatory gaps in the licensing regime for crypto-asset related activities, as well as in the governance processes associated with cyber security and cloud outsourcing
Posted: 16/07/2019
Several asset managers have been criticised for investing in companies that have provided surveillance tools to China, exposing pension savers and other investors to investments that “contribute” to “violations of human rights”
Posted: 16/07/2019
The length of mortgage term being taken out by first-time buyers (FTBs) and the loan to value (LTV) opted for have both significantly increased since the beginning of 2018, according to new research from HSBC
Posted: 15/07/2019
Despite the preparation for, and implementation of, MiFID II dominating regulatory change over the last few years, 59 per cent of financial advisers argued the regulation is failing to deliver on its objectives
Posted: 15/07/2019
The number of data breaches reported by whistleblowers to the Information Commissioner’s Office (ICO) has jumped 175 per cent in since the General Data Protection Regulation (GDPR) was introduced
Posted: 15/07/2019
The Financial Conduct Authority’s (FCA) acknowledgement of the limitations of its data on defined benefit pension transfers has been welcomed by the Personal Finance Society
Posted: 15/07/2019
The price of property coming to market has fallen by 0.2 per cent (-£656) in July 2019, the first monthly fall recorded this year, according to data published by Rightmove
Posted: 15/07/2019
The volume of domestic money transfers via mobiles will exceed 203 billion in 2024, up from 130 billion in 2019, driven by peer-to-peer (P2P) payments, and will account for 80 per cent of all domestic transfers in 2024
Posted: 15/07/2019
US President Donald Trump is “wrong and is placing himself on the wrong side of history”, claimed deVere Group founder and CEO Nigel Green
Posted: 12/07/2019
President Trump has hit out at Facebook’s plan to launch the Libra digital currency and has said that the social media giant must apply to become a licensed bank if it wishes to operate in the US
Posted: 12/07/2019
Companies with defined benefit pensions are paying out nearly five times more in dividends than in DB scheme contributions, research from the University of Bath has shown
Posted: 12/07/2019
Interest rates could be reduced to almost zero if the UK leaves the European Union (EU) without a deal, according to Bank of England (BoE) monetary policy committee (MPC) member Gertjan Vlieghe
Posted: 12/07/2019
The changes government has made to capital gains tax is likely to be detrimental to second homeowner and small landlords, experts have argued
Posted: 12/07/2019
Women could be over £100,000 worse off than men by the time they reach retirement as they seek to balance caring responsibilities by working part time, new research has found
Posted: 12/07/2019
Facebook’s plans to launch a digital currency have come under pressure from the US federal reserve chairman, who warned that the plan “cannot go forward” unless regulatory concerns over data privacy and financial stability have been dealt with
Posted: 12/07/2019
Fraud is costing individuals and businesses in the UK £130bn each year, according to research published today
Posted: 11/07/2019
Sadiq Khan is on course to miss one of his main housing targets, according to critics, after recently published figures revealed that just over 300 homes have been built on land owned by Transport for London (TfL)
Posted: 11/07/2019
Young people are predicting a revival of High Street banks in the coming years despite the arrival of the cashless economy and digital banking, according to a new study
Posted: 11/07/2019
Britain’s housing market displayed tentative signs of recovery in June as interest among buyers rose for the first time since shortly after 2016’s Brexit referendum, according to the Royal Institution of Chartered Surveyors (RICS)
Posted: 11/07/2019
The number of savers who have sought guidance from Pension Wise in 2018/19 increased by more than 55,000 year-on-year, to 167,726
Posted: 11/07/2019
Defined benefit transfer values fell slightly over June 2019, according to XPS Transfer Watch
Posted: 11/07/2019
The deficit of schemes eligible for the Pension Protection Fund (PPF) decreased by £18.2bn to £51.7bn over June, as total scheme assets increased by 1.6 per cent over the month
Posted: 10/07/2019
Searches for lenders accepting first-time landlords has been revealed as the most popular search for UK mortgage criteria, according to data from criteria specialist Knowledge Bank
Posted: 10/07/2019
The amount of people in the UK saving enough for a comfortable retirement has reached a record 59 per cent, research from Scottish Widows has revealed
Posted: 10/07/2019
Online mortgage broker Trussle is calling for a ‘Mortgage Switch Guarantee’ to make switching fairer for homeowners, after discussing the growing need for transparency and accessibility to mortgage switching with MPs
Posted: 10/07/2019
Financial services firms are at higher risk of hacking attempts and cybersecurity breaches than other industries, according to a new report
Posted: 10/07/2019
High-net-worth (HNW) individuals will increasingly be seeking to Corbyn-proof their finances, according to deVere Group CEO and founder Nigel Green
Posted: 10/07/2019
The Financial Conduct Authority (FCA) is failing to protect consumers from high interest rates on credit cards, according to a new report from the Centre for Responsible Credit, Jubilee Debt Campaign, New Economics Foundation and Research for Action as part of the End the Debt Trap Coalition
Posted: 10/07/2019
The challenges of digital transformation are taking their toll on Chief Information Officers (CIOs) and straining their relations with other executives according to a survey which revealed that just 23 per cent of UK CIOs are aligned with their chief financial officer (CFO) on tech strategy
Posted: 10/07/2019
More than half (59 per cent) of payments leaders admit they are losing money due to issues with their payments gateways, according to new research
Posted: 09/07/2019
Aon has assessed the benefits and shortcomings of transferring into defined benefit commercial consolidators, following the government consultation in December last year
Posted: 09/07/2019
Investors have a lack of understanding of some of the fundamental risks associated with investing through property investment platforms, according to new research from property lender Fitzrovia Finance
Posted: 09/07/2019
Cryptocurrencies such as Bitcoin could play a significant role in reshaping the UK’s financial services sector post-Brexit, repairing the “unprecedented damage” inflicted on the UK as a result of the uncertainty, according to deVere CEO and founder Nigel Green
Posted: 09/07/2019
European FinTech leaders expect Artificial intelligence (AI) and Open Banking to set the standard for wide-ranging innovation in the financial services industry, according to research from Barclays
Posted: 09/07/2019
Knight Frank has become the first estate agent to offer later life lending advice, offered through its Knight Frank Finance arm to those over 55
Posted: 09/07/2019
The housing market could take a hit if inheritance tax (IHT) is reformed the way the Labour party intends, according to experts.
Last month the Labour Party’s independent report on cutting inequalities in land ownership called for the abolition of IHT in a bid to stabilise house prices. Under the proposals, Labour would replace IHT with a lifetime allowance of £125,000 on the gifts each person could receive
Last month the Labour Party’s independent report on cutting inequalities in land ownership called for the abolition of IHT in a bid to stabilise house prices. Under the proposals, Labour would replace IHT with a lifetime allowance of £125,000 on the gifts each person could receive
Posted: 08/07/2019
Thousands of jobs are at risk in London after Deutsche Bank announced it will cut 18,000 roles globally in an attempt to stem its 10-year decline
Posted: 08/07/2019
Two thirds (66 per cent) of UK consumers are more concerned about the security than the speed of making payments online, according new research
Posted: 08/07/2019
The income gap between pensioner couples in the top and bottom income bands has widened over the past ten years, analysis from Aegon has revealed
Posted: 08/07/2019
Specialist buy-to-let (BTL) lender Landbay today announced it has received a further £1bn to bolster its mortgage lending
Posted: 08/07/2019
A planned tax on digital businesses should be canned because it risks making Britain look unfavourable to innovative technology firms, the Confederation for British Industry (CBI) has warned
Posted: 05/07/2019
In the latest quarter (April to June), house prices increased by 2.4 per cent over the previous quarter, with property prices remaining stable despite mounting uncertainty surrounding the UK’s departing from the bloc
Posted: 05/07/2019
The number of second charge mortgage agreements written in May increased by 22 per cent when compared to May 2018, rising to 2,378, according to data published by the Finance & Leasing Association (FLA)
Posted: 05/07/2019
Societe Generale has reportedly made plans to sell its UK private banking arm, after having made a major acquisition to expand the business just three years ago
Posted: 05/07/2019
The government has been accused of “dragging its heels” on rectifying gender inequality in the pensions system by Royal London director of policy, Steve Webb
Posted: 05/07/2019
The Office of Tax Simplification (OTS) has proposed cutting the “seven-year rule”, a pivotal aspect of UK inheritance tax (IHT) planning that governs gifting, to five years to simplify its administration
Posted: 05/07/2019
The pension deficit for defined benefit schemes in the FTSE 350 decreased by £9bn over June to £48bn, Mercer has revealed
Posted: 05/07/2019
Nearly half (46 per cent) of people aged 55 and over do not feel prepared for retirement, research from Close Brothers has found
Posted: 04/07/2019
Specialist mortgage lender Vida Homeloans has announced the launch of four new residential and buy-to-let (BTL) products
Posted: 04/07/2019
Santander has reportedly been hit with a €100m (£90m) legal challenge from former UBS investment banker Andrea Orcel, who was denied the role of chief executive just four months after being offered the post
Posted: 04/07/2019
UK peer-to-peer (P2P) lender RateSetter have revealed that at the end of June its ISA had attracted more than £250m in subscriptions, since being launched in February 2018
Posted: 04/07/2019
With the second Payment Services Directive (PSD2) Regulatory Technical Standards (RTS) deadline approaching on 14 September, new analysis has revealed that European banks have so far failed to provide the proper technology environment for third party providers (TPPs) to access payments data as required by the new law
Posted: 04/07/2019
Savers have been facing a more challenging investment market in a period where they have had to take more individual responsibility of their savings, Financial Conduct Authority (FCA) chief executive, Andrew Bailey, has warned
Posted: 04/07/2019
The government is at risk of missing its target to build 300,000 homes a year by the mid-2020s if it does not embrace modern methods of construction (MMC) and shrug off its reliance on traditional methods, according to the Housing, Communities and Local Government Committee.
The report, published today, underlined that the UK has not built enough homes, leading to increased housing costs, and urged that the “ambitious target” to build 300,000 homes annually is not feasible due to constraints such as the shortages of skilled workers
The report, published today, underlined that the UK has not built enough homes, leading to increased housing costs, and urged that the “ambitious target” to build 300,000 homes annually is not feasible due to constraints such as the shortages of skilled workers
Posted: 03/07/2019
The government has published a roadmap aimed at reducing financial instability for women in later life, including pensions wealth
Posted: 03/07/2019
Almost 40 per cent of landlords want the government to introduce a fast track housing tribunal if the Section 21 ‘no-fault’ eviction process is abolished, according to Paragon’s PRS Trends Report for Q2 2019
Posted: 03/07/2019
Banks are preparing for their industry’s digital evolution by building their own standalone operations, with more than a third (36 per cent) looking at a greenfield digital bank, according to a survey by the Economist Intelligence Unit (EIU)
Posted: 03/07/2019
SimplyBiz Mortgages has partnered with 360 Dotnot to offer access to its practice management system, 360 Lifecycle, to member firms
Posted: 03/07/2019
More than half of banking and financial services customers around the world use FinTech products and services, according to a poll
Posted: 03/07/2019
The value of aggregate funding liabilities for UK defined benefit pension schemes has increased by £55bn over the past eight weeks, analysis from Buck has revealed
Posted: 03/07/2019
The Financial Conduct Authority (FCA) is proposing rules to address harm to retail consumers from the sale of derivatives and exchange traded notes (ETNs) referencing certain types of crypto assets
Posted: 03/07/2019
Moneybox has today announced the launch of its Cash Lifetime ISA (LISA), in partnership with OakNorth Bank, offering a market-leading interest rate of 1.4 per cent
Posted: 02/07/2019
The UK government has today published its Green Finance Strategy, recognising the role of the financial sector in delivering global and domestic climate and environmental objectives
Posted: 02/07/2019
Just under half (46 per cent) of adults in the UK are currently in debt and have blamed the rising cost of independent living as the cause, according to The UK Spending Report, commissioned by Creditfix.co.uk
Posted: 02/07/2019
Since Prudential Regulation Authority (PRA) CEO Sam Woods warned that the Bank of England (BoE) is watching mortgage rates “like a hawk”, wholesale cuts to the average two-year fixed rate have dwindled and the average rate has started to instead increase, rising from 2.47 per cent in May to 2.5 per cent in July
Posted: 02/07/2019
Almost two thirds (65 per cent) of chief financial officers (CFOs) expect digital transformation to significantly reduce the number of jobs in the financial services industry
Posted: 02/07/2019
UK house price growth remained subdued in June, with prices increasing by just 0.5 per cent when compared to June 2018, taking the average property price to £216,515, according to the latest Nationwide House Price Index published today
Posted: 02/07/2019
Just under half (45 per cent) of advisers have predicted worsening volatility over the coming year, according to research published by TIME Investments
Posted: 02/07/2019
The Money and Pension Service (Maps) should be given “greater scope” to be able to provide stronger financial guidance, the Pensions and Lifetime Savings Association (PLSA) has said
Posted: 02/07/2019
Mobile banking is set to overtake the popularity of branch services by 2021, according to new analysis
Posted: 02/07/2019
Homeowners could be offered better mortgage rates for improving the energy efficiency of their homes under plans rolled out by the government today
Posted: 01/07/2019
Pensions freedoms are failing to meet the needs of consumers and could lead to a scandal in the next few years, a new paper by Age UK has said
Posted: 01/07/2019
Over a third (36 per cent) of British adults – 18 million people – are concerned that their finances will worsen post-Brexit, up from 32 per cent six months ago, according to a YouGov survey conducted on behalf of Royal London
Posted: 01/07/2019
Net mortgage lending to households fell to £3.1bn in May, marking the smallest increase in mortgage lending in a month since April 2017, figures published by the Bank of England (BoE) revealed
Posted: 01/07/2019
The number of cyber security incidents reported by the UK’s financial services firms rose to 819 last year, up from just 69 in 2017, according to new data obtained from the Financial Conduct Authority (FCA)
Posted: 01/07/2019
Pensions consultancy firm XPS Pensions Group share price dropped by 65 pence per share yesterday (27 June) despite a recording a 75 per cent growth in total revenue
Posted: 01/07/2019
The Department for Work and Pensions (DWP) has estimated that it will cost £2.5bn to uprate the state pension by 2.6 per cent in 2019/20
Posted: 28/06/2019
The direct financial impact of Brexit on major financial services firms in the UK has almost reached £4bn, as of 31 May 2019, EY’s Financial Services Brexit Tracker revealed
Posted: 28/06/2019
Monzo’s latest annual report revealed that losses rose to £47.2 million, up 54 per cent on the previous year, as the chief executive admitted there was “still plenty of work to do” to achieve profitability
Posted: 28/06/2019
Financial advisers predicted that wealth managers and platform providers will start to lose business as MiFID II reporting standards allow clients to be more aware of costs and charges, new research has found
Posted: 28/06/2019
Retired homeowners saw their property wealth increase by more than £1,000 over the last 12-months, despite current housing market uncertainty, analysis from equity release adviser Key revealed
Posted: 28/06/2019
The Pensions Regulator (TPR) has published updated defined contribution investment guidance highlighting changes to the way trustees will present their statement of investment principles (SIP) in the future
Posted: 27/06/2019
The Mortgage Lender has extended its 2.83 per cent initial rate with 2 per cent completion Buy-to-Let (BTL) product to the entire market
Posted: 27/06/2019
The Financial Conduct Authority (FCA) is concerned that lenders could either over-lend or under-lend as a result of not having a sufficient amount of credit data
Posted: 27/06/2019
With Austria set to launch a new 100-year bond, Royal London Asset Management (RLAM) head of fixed income Jonathan Platt questioned why the UK has not introduced something similar, stating that it has “lost the sense of ‘seizing the moment’ to make transformational change”
Posted: 27/06/2019
Despite house prices in London falling, first-time buyers (FTBs) are still often paying more than homemovers to begin their climb on the housing ladder, analysis from Gatehouse Bank revealed
Posted: 27/06/2019
Cyber attacks have been ranked as a top business issue in the next 12 months, but UK firms are facing paralysis in the face of increasingly advanced methods of cyber crime, according to a new study
Posted: 27/06/2019
Following the announcement of Facebook diving into the world of cryptoassets with its own virtual currency, Libra, eToro analyst Simon Peters has predicted the value of Bitcoin could soar to $50,000 “or even $100,000” this year
Posted: 27/06/2019
Mortgage lenders supported 84,900 first-time buyers (FTBs) get onto the housing ladder in the North of England in 2018, up 3 per cent when compared to the previous year and the highest level since 2006, figures published today revealed
Posted: 27/06/2019
Roughly 9.5 million people who plan to work past retirement age fear their health will make it too difficult to do so, new research has found
Posted: 27/06/2019
The Prudential Regulation Authority (PRA) only approved four applications for banking licences in the last year, down from 14 in the previous year, while the number of applications (11) has remained virtually unchanged from last year (10)
Posted: 26/06/2019
Ahead of the G20 summit taking place in Osaka, Japan, this week, deVere CEO and founder Nigel Green said leaders must take decisive steps towards a multilateral cryptocurrency regulatory framework, arguing that failure to do so would be “irresponsible and negligent”
Posted: 26/06/2019
The government has estimated that it will spend over £120bn on pension benefits in 2019/20, including £99bn of expenditure on the state pension
Posted: 26/06/2019
Gross mortgage lending across the residential market was down 0.4 per cent in May 2019 when compared to the same month in 2018, falling to £21.9bn, according to the latest figures published by UK Finance
Posted: 26/06/2019
A new report has suggested that Open Banking could realise £18 billion value for people and small businesses in the UK over the course of a year, but also highlighted complex challenges ahead to realise this value
Posted: 26/06/2019
The Pensions Regulator (TPR) “must increase its focus on savers” in light of rising membership through auto-enrolment and increased saver risk due to pensions freedoms, according TPR chief executive Charles Counsell
Posted: 26/06/2019
UK challenger banks may be more vulnerable than more established banks to late-cycle and Brexit-related risks, according to Fitch Ratings
Posted: 26/06/2019
FCA chief executive Andrew Bailey has called for the full regulation of mortgage lending
Posted: 25/06/2019
The rules which reduce pension tax relief limits for higher earners are causing confusion for taxpayers which HMRC “simply does not grasp”, according to Royal London director of policy Steve Webb
Posted: 25/06/2019
Latest figures from HMRC have revealed an 18% increase in capital gains tax receipts in 2018/19 compared to the previous year
Posted: 25/06/2019
Increasing the number of advisers in the later life sector and raising customer awareness are two of the major challenges needing to be addressed, Key Advice CEO Will Hale said
Posted: 25/06/2019
The FCA needs to review its approach to later life lending, particularly the current placement of Retirement Interest-Only (RIO) mortgages within its mainstream mortgage rules, former FCA Mortgage Policy Manager, and industry consultant, Lynda Blackwell has said
Posted: 25/06/2019
Advisers must “call out” bad practice in the financial services industry, as it “affects the reputation of our profession and ultimately our customers”, Pimfa chief executive Liz Field said
Posted: 25/06/2019
The continued pursuit of various opportunistic strategies in the credit derivatives markets, including but not limited to those that have been referred to as ‘manufactured credit events’, may adversely affect the integrity, confidence and reputation of the credit derivatives markets, as well as markets more generally, the FCA has said in a joint statement
Posted: 25/06/2019
Members of The Personal Finance Society (PFS) can now mentor and be mentored by other members from anywhere in the world
Posted: 25/06/2019
Almost a quarter (73%) of specialist lending intermediaries feel confident about the specialist mortgage market’s prospects over the next 12 months – up by 12% from the previous year
Posted: 25/06/2019
The Investment Association is due to announce a new long-term asset fund structure that will limit when people can sell their investments in order to avoid the liquidity problems that have beset the Woodford Equity Income fund
Posted: 24/06/2019
Barclays Mortgages has made improvements to its Family Springboard Mortgage, making it easier for first time buyers to get onto the property ladder
Posted: 24/06/2019
Lloyds Banking Group has reportedly frozen 8,000 accounts of offshore banking customers amid a regulatory clampdown on money laundering
Posted: 24/06/2019
Banks are now charging nearly double the advertised rate to personal loan applicants, new research from Zopa has revealed
Posted: 24/06/2019
TMA Club has announced a new partnership with Eligible.ai, providing members of the club access to Eligible.ai’s automated customer retention tool - ‘Retain’
Posted: 24/06/2019
The later life lending market is set to almost double in size over the next decade, new research from the Centre for Economics and Business Research (Cebr) commissioned by equity release lender more 2 life has revealed
Posted: 24/06/2019
Specialist buy-to-let lender Fleet Mortgages has today announced the appointment of two new business development managers (BDM), Jacqui Simmons and Katy William
Posted: 21/06/2019
Liberal Democrat MP for Eastbourne Stephen Lloyd has written to Chancellor Philip Hammond urging him to fix the net pay pension tax anomaly
Posted: 21/06/2019
Facebook’s jump into cryptocurrencies is another “nail in the coffin” for traditional banks, according to deVere Group CEO and founder Nigel Green
Posted: 21/06/2019
The Financial Conduct Authority (FCA) has today fined Bank of Scotland (BOS) £45.5m after the lender failed to disclose information about its suspicions that fraud may have occurred at the Reading-based Impaired Assets (IAR) team of Halifax Bank of Scotland (HBOS)
Posted: 21/06/2019
Philip Hammond has announced a Treasury-led review of the UK’s evolving payments landscape
Posted: 21/06/2019
The Bank of England’s governor has backed various FinTech initiatives, including opening its balance sheet to new payment providers like Facebook’s cryptocurrency
Posted: 21/06/2019
Total membership of workplace pension schemes in the UK has increased by 4.5 million year-on-year to a record 45.6 million in 2018, according to the latest Office for National Statistics data
Posted: 21/06/2019
Investec Structured Property Finance (Investec) has announced that it has agreed to provide Valor Real Estate Partners (Valor), a pan-European industrial real estate investor, with a £27m senior loan, to fund the speculative development of a 153,000 sq ft Grade A urban logistics park in Mitcham, South London
Posted: 20/06/2019
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has voted unanimously to maintain bank rate at 0.75 per cent at today’s meeting
Posted: 20/06/2019
Nearly one in three UK adults have considered changing banks in the last 12 months after IT glitches and poor digital experience left them frustrated
Posted: 20/06/2019
Specialist lender Foundation Home Loans has announced the launch of its new portfolio landlord product, featuring a 3.39 per cent five-year fix and a 1.5 per cent product fee
Posted: 20/06/2019
Individuals with problem debt will be protected by a new Breathing Space scheme, due to be introduced in 2021, City minister John Glen announced today
Posted: 20/06/2019
There are around 70 per cent more women saving into workplace pension schemes than before the introduction of auto-enrolment (AE), Equiniti has revealed
Posted: 20/06/2019
Clydesdale and Yorkshire Bank parent company CYBG will take on the name Virgin Money in a significant rebranding to “disrupt the status quo” of UK banking
Posted: 20/06/2019
A state-backed cyber attack could secretly corrupt the records of financial services providers over a period of months, according a senior Bank of England policymaker, which could pose a risk that many would probably struggle to guard against on their own
Posted: 20/06/2019
The number of people earning below the personal allowance threshold who contribute to a net pay or relief at source pension scheme steadily increased over three years, HMRC has revealed
Posted: 20/06/2019
InterBay Commercial, part of specialist mortgage provider and retail savings group OneSavings Bank, was approached by Vantage Finance on behalf of a client seeking refinance of a block of flats and capital raising to repay existing development finance totalling just under £16m
Posted: 19/06/2019
More than half (54 per cent) of UK businesses are unaware of the potential benefits of Open Banking, according to a new survey, which also revealed that just 17 per cent consider themselves to be completely prepared for the move to the new model
Posted: 19/06/2019
Over half (52 per cent) of drawdown investors are unaware they can vary their income, according to research by Zurich
Posted: 19/06/2019
Average house prices across the UK increased by 1.4 per cent in year to April 2019, down from 1.6% in March 2019, figures published in the Office for National Statistics (ONS) UK House Price Index: April 2019 revealed
Posted: 19/06/2019
The number of interest-only mortgages fell by 13.1 per cent to 1.23 million in 2018 when compared to 2017, UK Finance figures revealed
Posted: 19/06/2019
Specialist mortgage lender Vida Homeloans has announced the appointment of Amanda Meadows as its new key account manager for the North East and Yorkshire region
Posted: 19/06/2019
The Consumer Prices Index (CPI) rate of inflation dropped to 2 per cent in May 2019, down from 2.1 per cent in April 2019, hitting the Bank of England’s target rate
Posted: 19/06/2019
UK assets and the pound can be expected to fall further, according to deVere Group CEO Nigel Green, who highlighted that the debate between the five men vying to become the next Prime Minister “underscores that the pound can be expected to fall further"
Posted: 19/06/2019
Cifas, the UK's largest cross-sector fraud sharing database, has revealed that its members have reported a six per cent overall annual increase in fraud cases
Posted: 19/06/2019
Three quarters (75 per cent) of UK defined benefit pension schemes are paying out higher benefit payments than they are receiving in contributions, Buck has revealed
Posted: 18/06/2019
The ‘Bank of mum and dad’ (BoMaD) will lend £6.3bn in 2019, rising 10 per cent from £5.7bn in 2018, making the ‘lender’ the eleventh largest in the UK, research from Legal & General (L&G) and Cebr revealed
Posted: 18/06/2019
Facebook expects its cryptocurrency ecosystem called Calibra, including a digital currency and wallet, to go live in 2020
Posted: 18/06/2019
Roughly 1.75 million low earners in net pay pension schemes are missing out on up to £111m of pensions tax relief, research from Now Pensions has found
Posted: 18/06/2019
A group of 88 investors, including the Environment Agency Pension Fund (EAPF), have urged 707 of some of the world’s largest companies to start disclosing their environmental information
Posted: 18/06/0219
Jointly-developed artificial intelligence (AI) systems hold great potential for tackling common security issues, according to a new Euro Banking Association (EBA) report
Posted: 17/06/2019
According to a Freedom of Information (FOI) request submitted by AJ Bell, 286,000 Lifetime ISA (LISA) accounts have been opened since the savings product launched in April 2017
Posted: 17/06/2019
Newbury Building Society has become the latest lender to join the Equity Release Club’s retirement lending panel
Posted: 17/06/2019
A report commissioned by the Labour party has suggested replacing inheritance tax (IHT) with a lifetime tax on all gifts from parents to their children in excess of £125,000
Posted: 17/06/2019
Wealth managers believe that delivering highly personalised services is essential to achieve a competitive differentiation, but a third are being held back from doing so by old technology
Posted: 17/06/2019
The asking price of newly-marketed property prices neared a record high in June, driven by a number of regions defying a market slowdown amid political uncertainty, data from Rightmove suggested
Posted: 17/06/2019
Retirement savers in the UK are expected to outlive their savings by over a decade, according to new research from the World Economic Forum (WEF)
Posted: 17/06/2019
Since its launch in April 2013 up until December 2018, 211,000 loans with a value of £11.7bn had been lent to homeowners via the Help-to-Buy scheme, according to figures published by the National Audit Office (NAO).
In its latest Help to Buy: Equity Loan scheme – progress review, the office revealed that between April 2013 and September 2018. 38 per cent of all new-build property sales have been supported by loans through the scheme, accounting for around 4 per cent of all house purchases during this period
In its latest Help to Buy: Equity Loan scheme – progress review, the office revealed that between April 2013 and September 2018. 38 per cent of all new-build property sales have been supported by loans through the scheme, accounting for around 4 per cent of all house purchases during this period
Posted: 14/06/2019
More than 5 million Britons (10 per cent) have fallen victim to a financial scam at some point in their lives, according to new research published by Lloyds Bank and YouGov, while a quarter know of someone that has been fooled by a fraudster
Posted: 14/06/2019
Another of Neil Woodford’s funds, the Income Focus fund, has shrunk by more than £100m in less than two weeks, with Hargreaves Lansdown withdrawing £45m
Posted: 14/06/2019
During his speech, Financial resilience and economic earthquakes, at the University of Warwick yesterday, Bank of England (BoE) senior official Alex Brazier emphasised that suspending funds can be a “double-edged sword”
Posted: 14/06/2019
The Monetary Authority of Singapore (MAS), the Bank of England (BoE) and the Financial Conduct Authority (FCA) announced that they will be working together to strengthen cyber security in their financial sectors
Posted: 14/06/2019
If Boris Johnson were to win a general election, deVere Group CEO and founder Nigel Green has warned that UK asset prices and the pound would tumble
Posted: 13/06/2019
Almost half (45 per cent) of those over the age of 30 are most likely to ask their parents for financial support, according to research from Portafina
Posted: 13/06/2019
There were 27,370 new first-time buyer (FTBs) mortgage completion in April 2019, 7.9 per cent more than in the same month in 2018, suggesting that prospective homeowners are displaying resilience despite uncertainty
Posted: 13/06/2019
Transfer values were recorded at £241,500 over May, close to the £251,000 peak recorded in March, XPS Pensions Group has revealed
Posted: 13/06/2019
More than seven million people in the UK were left unable to use their debit or credit cards due to an IT or technical crash in the last year, according to research from Which?
Posted: 13/06/2019
The rising level of employment is being driven by older workers as state pension age changes, improved life expectancy and transitional retirement’s growing popularity take effect
Posted: 12/06/2019
Following the comments from Michael Saunders, highlighting that the Bank of England’s (BoE) Monetary Policy Committee (MPC) will need to vote in favour of a rate rise ahead of expectations, a further two members have warned that the central bank is on track to increase rates several times over the next couple of years
Posted: 12/06/2019
Just under 40 per cent of self-employed borrowers are making “worrying lifestyle changes” and professional sacrifices in a bid to start the climb on the property ladder, new research from online mortgage broker Trussle revealed
Posted: 12/06/2019
The number of over 50s not just supporting their children, but also their grandchildren, is increasing, as the older generations gift £53bn per year to their families, research from Saga Money has revealed
Posted: 12/06/2019
After dropping to a low of £6.4bn at the end of last month, the Pension Protection Fund has revealed the aggregate deficit of schemes in the PPF 7800 Index jumped up to £69.9bn at the end of May 2019
Posted: 12/06/2019
New research has found consumer openness to alternative payment options - including wearables and smartphones - although acceptance of cashless payments comes with a high degree of concern surrounding the ability to secure these devices
Posted: 12/06/2019
A third of self-assessment taxpayers do not pay as much tax as they are required to, resulting in the Treasury missing out on £8bn per year and contributing to the annual ‘tax gap’ of £30bn revenue that goes uncollected, new research has revealed
Posted: 11/06/2019
The outstanding value of all residential mortgage loans was £1,451bn in the first quarter of 2019, 3.4 per cent higher than in the same period last year, despite Brexit uncertainties amounting
Posted: 11/06/2019
The Bank of England (BoE) may be required to raise interest rates ahead of financial market’s expectations, according to central bank policymaker Michael Saunders
Posted: 11/06/2019
The number of pension transfers with reports of scam ‘red flags’ has increased by 21 percentage points over the past year, according to XPS Pensions Group
Posted: 11/06/2019
Amazon and Synchrony have announced the launch of the Amazon Credit Builder card, for customers who are looking to build or rebuild their credit responsibly
Posted: 11/06/2019
The Financial Conduct Authority (FCA) has come under scrutiny from the Treasury Select Committee (TSC) over the suspension of Neil Woodford’s LF Woodford Equity Income Fund
Posted: 11/06/2019
Traditional retail banks are lagging behind in terms of blockchain adoption, potentially losing out on customers and competitive advantage
Posted: 11/06/2019
Plans announced by Boris Johnson, who is standing to be leader of the Conservatives, to raise the higher rate income tax threshold from £50,000 to £80,000 would have a knock-on impact for pensions tax relief
Posted: 11/06/2019
Boris Johnson’s vow to cut income tax for higher earners is “half-baked”, according to deVere Group CEO Nigel Green
Posted: 10/06/2019
The Association of Consulting Actuaries is in favour of allowing younger pension savers the flexibility to access their pensions to use towards a deposit for a house, provided there are ‘sufficient safeguards’ it has said
Posted: 10/06/2019
Tory leader contender Boris Johnson pledged to cut income tax bills for those earning more than £50,000 a year, if he wins the race to succeed Theresa May as Prime Minister
Posted: 10/60/2019
As of 4 June 2019, the Financial Conduct Authority (FCA) has imposed a number of requirements on Allied Wallet, with the firm no longer able to carry on any regulated activities
Posted: 10/06/2019
International digital remittances will reach $525 billion by 2024, up from an estimated $332 billion in 2019, with mobile and blockchain solutions becoming increasingly popular
Posted: 10/06/2019
All pension schemes should appoint a pensions manager to oversee their investment responsibilities, a leading chief investment officer (CIO) has suggested
Posted: 10/06/2019
The Financial Conduct Authority (FCA) has today announced it is introducing reforms to fix a “dysfunctional overdraft market”, in a bid to make them simpler, fairer and easier to manage
Posted: 07/06/2019
The government has estimated that it would cost a total of £181.4bn to reverse the state pension age (SPA) for women back to 60 between now and 2025/26
Posted: 07/06/2019
Average house prices in the UK creeped up to £237,837 in May, representing an annual increase of 5.2 per cent, according to the latest Halifax House Price Index
Posted: 07/06/2019
JP Morgan Chase is to close its mobile-only bank for Millennials, Finn, just a year after it was launched across the US
Posted: 07/06/2019
UK consumers are taking a ‘pick n mix’ approach to how they make payments, with mobile banking, mobile payments and contactless all becoming increasingly popular, according to research by UK Finance
Posted: 07/06/2019
Pension fraudsters are playing the long game when it comes to scamming members, The Pensions Ombudsman (TPO) has warned
Posted: 07/06/2019
The Institute of Fiscal Studies (IFS) has said that the current pensions system loads “too much risk onto individuals”
Posted: 06/06/2019
Mortgage broker earnings were up 13 per cent between 2017 and 2018, rising to £1.31bn from £1.16bn, according to data collected the Financial Conduct Authority (FCA)
Posted: 06/06/2019
Five banks including Royal Bank of Scotland (RBS) and Barclays have been fined £71.39m for fixing the foreign exchange market, with the Swiss competition regulator Weko stating the lenders were involved in a “three-way banana split”
Posted: 06/06/2019
The Financial Conduct Authority (FCA) board has appointed Baroness Zahida Manzoor as chair of the Financial Ombudsman Service (FOS), having already been approved by HM Treasury
Posted: 06/06/2019
The PRA and the FCA have published a number of observations across eight key areas linked to the transition from LIBOR to alternative interest rate benchmarks
Posted: 06/06/2019
Facebook does not view itself as a payments company and is looking to partner with banks and other players in the market as it considers the role of payments and Open Banking solutions across its family of apps
Posted: 06/06/2019
Following the decision to suspend his Woodford Equity Income Fund, Neil Woodford has apologised to investors, claiming to be “extremely sorry”
Posted: 05/06/019
Eligible employees participating in a workplace pension increased to 87 per cent over 2018, a 3 per cent rise on the previous year, government stats have revealed
Posted: 05/06/019
HSBC, Europe’s largest lender, is set to appoint Morgan Stanley as one of two joint corporate brokers to replace Goldman Sachs
Posted: 05/06/019
Global incumbents should embrace partnerships with tech titans, as well as smaller FinTechs, in order to keep up with the emerging challenge posed by Silicon Valley, according to Santander’s chief digital officer
Posted: 05/06/019
Women born in the 1950s that have had increases to their state pension age are heading to the High Court today as a judicial review commences looking into whether they were told about the changes sufficiently
Posted: 05/06/019
Specialist lender West One Loans has announced the launch of its first charge Buy-to-Let (BTL) mortgage products
Posted: 04/06/2019
Since the start of 2018, the Financial Ombudsman Service (FOS) has received 47,220 complaints in relation to payday loan providers, though only 16,940 have been resolved
Posted: 04/06/2019
Pensions Minister Guy Opperman has admitted there has been a “significant problem”, as 3 per cent of online state pension forecasts were erroneous due to issues with HMRC data
Posted: 04/06/2019
The difference between the average two-year and five-year fixed mortgage rate has shrunk by 0.06 per cent, from 0.42 per cent to 0.36 per cent since the beginning of the year, the lowest difference recorded in seven years.
The average two-year fixed rate has fallen by 0.03 per cent from 2.52 per cent in January 2019 to 2.49 per cent this month, while the average five-year fixed rate decreased by 0.09 per cent from 2.94 per cent to 2.85 per cent over the same period
The average two-year fixed rate has fallen by 0.03 per cent from 2.52 per cent in January 2019 to 2.49 per cent this month, while the average five-year fixed rate decreased by 0.09 per cent from 2.94 per cent to 2.85 per cent over the same period
Posted: 04/06/2019
Indexes from both Mercer and PwC have revealed that the deficits of UK defined benefit pension schemes increased during May
Posted: 04/06/2019
Europe’s largest lender, HSBC, has announced it will bring an end to its corporate broking relationship with Goldman Sachs, putting an end to the pair’s long relationship
Posted: 04/06/2019
Following consultation, the Financial Conduct Authority (FCA) is introducing rules in the peer-to-peer (P2P) sector, “designed to prevent harm to investors, without stifling innovation”
Posted: 04/06/2019
Neil Woodford’s flagship fund, the Woodford Equity Income Fund, suspended trading yesterday evening after the number of investors cashing out increased
Posted: 04/06/2019
Even though Open Banking has yet to reach maturity, the financial services industry is entering a new phase of innovation that will require deeper collaboration and specialisation
Posted: 04/06/2019
First-time homebuyers should be allowed to access their pension savings to help them get on to the property ladder, Housing Minister, James Brokenshire has suggested
Posted: 04/06/2019
Half (47 per cent) of non-homeowning employees in the UK do not believe they will ever be able to afford to get on the property ladder, despite home ownership remaining an aspiration for 65 per cent of them
Posted: 03/06/2019
One third (34 per cent) of people who accessed their pension savings via drawdown for the first time during a six-month period in 2018 did so without taking any advice
Posted: 03/06/2019
Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets
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