BANKING


There are 125 articles for the BANKING category

Overall business confidence has fallen by 17 percentage points to 6% during March, the lowest level since October 2019, reflecting a drop in both trading prospects and economic optimism, according to the latest Lloyds Bank Commercial Banking Business Barometer
Posted: 31/03/2020
Spicerhaart Corporate Sales has called for the Government’s 80% salary guarantee to be extended to rental income for small private landlords
Posted: 30/03/2020
More than a fifth of UK adults have no immediately accessible savings, highlighting the nation’s “precarious” financial position going into the coronavirus crisis, according to research from OpenMoney
Posted: 27/03/2020
Nationwide has set out a support package for its members that have been financially impacted by the coronavirus crisis
Posted: 27/03/2020
Chancellor, Rishi Sunak, has announced that self-employed workers will be able to apply for a taxable grant worth 80% of their average earnings over the last three years
Posted: 26/03/2020
GoCompare has urged people to be “extra vigilant” against phishing and online shopping scams, as cybercriminals look to capitalise on coronavirus fears
Posted: 25/03/2020
Nationwide has announced it will pass on a further 0.15% reduction to its existing variable rate borrowers, reflecting the recent back-to-back cuts made to the Bank of England (BoE) base rate
Posted: 25/03/2020
The Government has been urged to scrap the money purchase annual allowance (MPAA) as part of its coronavirus response
Posted: 24/03/2020
UK consumers are “feeling the financial pinch of the coronavirus” with March showing an accelerated deterioration in the financial health of UK households, according to new data published in the IHS Markit UK Household Finance Index (HFI)
Posted: 23/03/2020
Fifty-five per cent of large and medium sized businesses are expecting a substantial revenue drop this year due to the coronavirus outbreak, according to the results of a new poll
Posted: 23/03/2020
The Government is launching the “coronavirus job retention scheme” and will step in and help pay 80% of wages for employees not working, which will be up to £2,500 a month
Posted: 20/03/2020
The banking and finance industry stopped over £1.8bn of fraud in 2019, up 9% on the previous year, new data published by UK Finance revealed
Posted: 18/03/2020
The emergency package of measures announced by the Chancellor last night have not yet done enough to supply debt relief to businesses or mortgage borrowers, according to AJ Bell
Posted: 18/03/2020
A new name-checking service, Confirmation of Payee (CoP), that warns bank customers when a payee’s name doesn’t match the account number provided, is due to be rolled out by the end of this month – a measure that Which? has estimated could have prevented £320m in bank transfer fraud since 2017
Posted: 17/03/2020
TSB has announced it has fully reimbursed “every single TSB customer” that was an innocent victim of financial fraud since launching its Fraud Refund Guarantee scheme in April 2019
Posted: 17/03/2020
Sixty-three per cent of adults in the UK will spend an average of 46 years of their adult life in debt, according to the results of a new study by Creditfix.co.uk
Posted: 16/03/2020
With the news the Junior ISA (JISA) savings limit is set to increase to £9,000 by 2020/21, according to Wednesday’s Budget, the Government’s announcement has created mixed responses from experts in the financial services sector
Posted: 13/03/2020
Rishi Sunak has used his first Budget to announce the total value of his fiscal stimulus dedicated to tackling the coronavirus outbreak is £30bn
Posted: 11/03/2020
The Bank of England (BoE) has announced an emergency cut to the base interest rate to stabilise the economy amid the coronavirus outbreak
Posted: 11/03/2020
Metro Bank has announced a new partnership with Lending-as-a-Service (LaaS) provider, ezbob, to provide the bank’s business customers with fast, secure and competitive access to finance
Posted: 09/03/2020
The average Cash ISA holder has seen the value of their pot fall by £252 over the last five years, new research from RateSetter has revealed
Posted: 09/03/2020
OneSavings Bank (OSB) has announced that Adrian Moloney and Roger Morris are to take on roles within the group, reporting into OSB group managing director for mortgages, Alan Cleary
Posted: 05/03/2020
NatWest has announced a series of changes to mark the first stage in a series of planned improvements it will make to its SME proposition this year, as the bank aims to become the biggest supporter of start-ups in the UK
Posted: 03/03/2020
The increasing price of rental deposits that tenants are paying in the UK has grown at a far slower rate than many other costs of living over the last five years, new data from Hamilton Fraser’s deposit replacement provider, Ome, has revealed
Posted: 02/03/2020
Skipton Building Society and Newcastle Building Society have both announced positive financial results for 2019
Posted: 26/02/2020
The Bank of England (BoE) announced that its new polymer £20 note featuring artist, JMW Turner, has entered circulation for the first time
Posted: 20/02/2020
The IHS Markit UK Household Finance Index, which measures households’ overall perceptions of financial wellbeing, increased to 47.6 in February, a notable rise from January's 44.6 and the highest index reading since the survey began 11 years ago
Posted: 17/02/2020
Sixty-six per cent of current account holders are unaware of the new FCA changes to overdraft rates, new research from comparethemarket.com has revealed
Posted: 12/02/2020
Challenger bank, N26, has announced it will be closing accounts for its UK customers on 15 April 2020, citing difficulties from the UK’s departure from the European Union
Posted: 12/02/2020
Air Later Life Academy (LLA) has announced specialist financial services group, Just Group, as its latest ambassador firm
Posted: 12/02/2020
First 4 Bridging (F4B) announced it has become a preferred specialist distribution provider for the Beneficial Network
Posted: 11/02/2020
Of the over-50s in the UK hoping to save £80,000 for their loved ones, 22% are not currently saving and a further 8% don’t have a savings account, according to a new study from Co-op Insurance
Posted: 10/02/2020
The higher and top-rate income tax bands will be frozen in Scotland for the coming year, the Government has announced
Posted: 06/02/2020
The Treasury has confirmed that an initiative devised under the previous administration, ‘Breathing Space,’ will go ahead in 2021
Posted: 06/02/2020
There are 11.8 million people in the UK who would be in the red within a month if they lost their job tomorrow, according to new research published by AA Financial Services
Posted: 05/02/2020
Eighty-four per cent of financial advisers believe the FCA’s proposals to ban contingent charging will reduce access to advice, according to new research published by Aegon
Posted: 04/02/2020
The equity release market consolidated its recent growth with a total £3.92bn of housing equity withdrawn by older homeowners in 2019, in line with 2018’s year-end total of £3.94bn, new figures published by the Equity Release Council (ERC) revealed
Posted: 03/02/2020
Almost one in three people retiring this year are planning to use their property wealth to help boost their retirement income, according to new research from the over-55s specialist adviser, Key
Posted: 31/01/2020
The Bank of England (BoE) has announced its Monetary Policy Committee (MPC) has chosen to maintain the UK’s bank rate at 0.75%
Posted: 30/01/2020
The number of people considering a career in financial advice is surging in response to growing demand for support, new research from Openwork has revealed
Posted: 30/01/2020
The Bank of England (BoE) is poised to announce its decision on whether to change its interest rates on Thursday 30 January
Posted: 29/01/2020
Almost double the number of retired single women are choosing to generate cash through a lifetime mortgage on their homes compared to men, according to new research from HUB Financial Solutions
Posted: 29/01/2020
The private rented sector accounted for 4.6 million households in 2018/19, representing 19% of all households in the UK, according to figures released yesterday in the English Housing Survey
Posted: 24/01/2020
Crystal Specialist Finance (CSF) has been appointed to PRIMIS Mortgage Network’s packager panel
Posted: 24/01/2020
The amount of potential equity available within older UK homeowners’ properties soared to more than £381bn at the end of 2019, according to new research by Canada Life
Posted: 23/01/2020
The public sector spent more money than it received in taxes and other income in December 2019 to the extent that it had to borrow £4.8bn, a figure £0.2bn less than the same month a year earlier, new data published by the Office for National Statistics (ONS) has revealed
Posted: 22/01/2020
The number of older workers in the UK on zero-hour contracts has almost doubled over the past six years, according to new research by Just Group.
Posted: 22/01/2020
The UK employment rate was estimated at a record high of 76.3% between September and November 2019, reflecting a 0.6% rise against a year earlier and 0.5% up on the previous quarter, according to new data published by the Office for National Statistics (ONS)
Posted: 21/01/2020
General government gross debt was £1,821.9bn at the end of the financial year ending March 2019, equivalent to 84.0% of the UK’s GDP, according to new data published by the Office for National Statistics (ONS)
Posted: 20/01/2020
There are 10.5 million adults in the UK who have indicated they are in their worst financial state on record, according to new research by the loan comparison site, FairMoney.com
Posted: 20/01/2020
Three-quarters of UK workers are blaming early paydays in December for their lack of funds at the end of the month, according to new research from the income streaming service, Wagestream
Posted: 20/01/2020
Mental Health UK’s ‘Mental Health and Money Advice service’ has surpassed two years of helping people experiencing poor mental health with their finances, helping clients to be £5m better off collectively.
Posted: 20/01/2020
The majority of adults aged under 25 in the UK do not know where to access financial advice, according to a new nationwide study by the financial advice network, Openwork
Posted: 17/01/2020
Retired homeowners released more than £3.4bn of property wealth in 2019, according to new data published by the over-55s specialist adviser, Key
Posted: 17/01/2020
There were 1.6 billion transactions on debit cards in October 2019, a rise of 9.3% from the same month a year earlier, according to the latest data released by UK Finance
Posted: 16/01/2020
The Consumer Prices Index (CPI) 12-month inflation rate slumped to 1.3% in December 2019, down from 1.5% in November, according to new data published by the Office for National Statistics (ONS)
Posted: 15/01/2020
Average house prices in the UK increased by 2.2% over the year to November 2019, which was up from 1.3% in October 2019, new data from the Office for National Statistics (ONS) revealed
Posted: 15/01/2020
Santander has revealed plans to reduce the in-credit interest rate for its 123, Select and Private Current Accounts
Posted: 14/01/2020
The UK’s rolling three-month GDP growth slowed for the second month in a row, down to 0.1% in November 2019, new statistics published by the ONS have revealed
Posted: 13/01/2020
The increasing hints that the Bank of England (BoE) could cut interest rates is likely to prompt investors into overseas financial assets, according to the CEO of one of the world’s largest independent financial services and advisory organisations
Posted: 13/01/2020
Unsecured debt per UK household increased to £14,540 in the third quarter of 2019, a rise of £430 on a year earlier, new data published by the Trades Union Congress (TUC) has revealed
Posted: 10/01/2020
Hargreaves Lansdown has announced the addition of Paragon and ICICI Bank’s easy access savings accounts to its Active Savings service
Posted: 09/01/2020
Over two million UK adults to have used ‘Buy Now, Pay Later’ schemes (BNPL) have had their credit scores damaged as a result, according to a new survey commissioned by comparethemarket.com
Posted: 08/01/2020
One in four workers aged over 25 who earned the legal minimum wage were underpaid last year, according to new research published by Resolution Foundation
Posted: 08/01/2020
UK house prices were 4.0% higher in December than the same month a year earlier, according to new data published in the Halifax House Price Index
Posted: 08/01/2020
The 2020 Budget will be held on Wednesday 11 March 2020, Sajid Javid has confirmed
Posted: 07/01/2020
The broadening of Open Banking platforms will be a turning point in its drive to mass adoption in 2020, according to Equifax UK
Posted: 06/01/2020
The average pay for an FTSE 100 CEO in 2020 has already surpassed the amount the average UK worker earns in an entire year, according to research from The High Pay Centre
Posted: 06/01/2020
The net flow of consumer credit fell to £0.6bn in November, the weakest flow since November 2013, according to new data published by the Bank of England (BoE)
Posted: 03/01/2020
Annual UK house prices were 1.4% higher in December than in the same month in 2018, the first time house price growth had been above 1% for 12 months, according to the latest Nationwide House Price Index
Posted: 03/01/2020
The average cost of a tenancy deposit in the UK is £1,299, and for tenants required to pay the full sum upfront, many are being forced into borrowing from a lender and absorbing the hit of additional interest, according to new research by Hamilton Fraser’s deposit alternative scheme, Ome
Posted: 03/01/2020
Fifty-three per cent of UK firms have reported Brexit as one of their top three sources of uncertainty, according to the Bank of England (BoE)
Posted: 02/01/2020
Chancellor, Sajid Javid, has today announced that FCA head, Andrew Bailey, will become the new Governor of the Bank of England (BoE) from 16 March 2020
Posted: 20/12/2019
Most financial advisers are expecting the equity release market to exceed the £5bn mark in 2020, new research from Canada Life has revealed
Posted: 18/12/2019
The average house price in the UK increased by 0.7% over the year to the end of October 2019 – up to £233,000 – reflecting the lowest growth since September 2012, new figures published by the ONS revealed
Posted: 18/12/2019
The number of payday loans issued during the last quarter saw a 37% year-on-year fall, according to FCA data that was published after an FOI request from Wagestream
Posted: 16/12/2019
Boris Johnson has promised to work flat out and that his party will deliver Brexit after the Conservatives won the General Election with a comfortable majority last night
Posted: 13/12/2019
Changes in local house price affordability show that homes have become more affordable in two-thirds of the UK over the past year, according to new analysis by Yorkshire Building Society
Posted: 12/12/2019
Lloyds Banking Group has responded to an independent report assessing the Customer Review it set up to compensate victims of the HBOS Reading fraud, and chief executive, António Horta-Osório, has apologised to those who lost out
Posted: 11/12/2019
The UK’s rolling three-month GDP showed no growth in October 2019, after just the 0.3% growth registered in the third quarter of 2019, new ONS figures have revealed
Posted: 10/12/2019
Current UK tenants are paying an average rental deposit of £1,299, with an estimated 1.5 million new deposits paid in 2019 to a value of £1.9bn, according to new research by Hamilton Fraser’s deposit alternative scheme Ome
Posted: 09/12/2019
Thirty per cent of UK adults aged between 18 and 34 years have said they would use inheritance money to get on the property ladder, according to new research from Just Group
Posted: 09/12/2019
Fourteen per cent of homeowners have claimed that in order to get their first step onto the property ladder, they have needed to take on two jobs at the same time, according to new research from Engen Group
Posted: 09/12/2019
HSBC has announced it is to introduce a single overdraft rate of 39.9% for its UK customers from March 2020
Posted: 06/12/2019
House prices in November 2019 were 2.1% higher than in the same month a year earlier, the latest Halifax House Price Index has revealed
Posted: 06/12/2019
Wakefield in West Yorkshire, where the average house price for a new home stands at £221,740, has been revealed as England’s biggest Help to Buy hotspot
Posted: 06/12/2019
Ahead of next week’s General Election, no major political party has considered the use of housing equity and how unlocking the wealth tied up in people’s home could be a solution to tackling financial issues, according to the equity release lender, more2life. The lender has strongly urged the future government to consider how it can meet the needs of the UK’s 20 million over-55s and help them as they continue to provide support for a range of younger and older age groups
Posted: 05/12/2019
The pound will fall to $1.20 against the US dollar next week in the event the UK election delivers a hung parliament, according to the CEO of one of the world’s largest independent financial advisory organisations
Posted: 03/12/2019
More than half of all UK adults as well as 61% of those aged under 35 years old would benefit from regular financial advice, according to new research from Openwork. The financial advice network said this underlines the need for an expansion in adviser numbers in 2020
Posted: 03/12/2019
An increasing number of people still don’t understand equity release, despite recent figures showing that £2.8bn in lifetime mortgages was lent by the end of the third quarter of 2019, new research by Canada Life revealed. The latest findings showed that 15% of UK homeowners said they wouldn’t use equity release to fund their retirement because they don’t understand it, a three-fold increase on the 5% who said this in 2016
Posted: 02/12/2019
Around one in five of HNWs have never spoken with a financial adviser, according to the new What’s your Number? report by Sanlam UK
Posted: 02/12/2019
Marketplace lending hit a record £3.0bn in the first half of 2019 despite record loss rates in the sector, according to new research from Link Group and Brismo
Posted: 29/11/2019
Net mortgage borrowing by households reached £4.3bn in October which was up £0.4bn from September, new statistics from the Bank of England (BoE) revealed. The BoE said the recent stability in the monthly flows had left the annual growth rate unchanged at 3.2%, close to the levels seen during the past three years
Posted: 29/11/2019
Legal Marketing Services (LMS) has announced the extension of its partnership with Family Building Society for an additional three years
Posted: 27/11/2019
House price growth in UK cities has risen to 2.9%, supported by a 1% increase to house prices in London, according to the October Zoopla UK Cities House Price Index. Zoopla revealed that this is the highest rate of growth for two years and follows a period of modest price falls
Posted: 27/11/2019
Paragon Bank has launched a new Cash Lifetime ISA (LISA) to introduce new competition to the LISA market
Posted: 26/11/2019
TSB has announced it is to close 82 branches next year as part of new plans to make £100m of cost savings by 2022
Posted: 25/11/2019
Nineteen per cent of UK adults are spending more than half of their monthly net household income on housing costs such as mortgage or rent payments, utility bills or council tax, new research from Engen Group revealed. Engen, the UK-based property business that addresses environmental challenges including affordable and sustainable housing, found that 4% of adults even spend over 75% of their monthly income on housing costs, while the average spend was revealed to be around 34%
Posted: 25/11/2019
TSB has been hit by an IT failure that has left customers waiting for wages and other payments to be made into their accounts
Posted: 22/11/2019
Advisers believe that better education for customers is the number one factor for making equity release more attractive and accessible in 2020, according to new research by Canada Life
Posted: 21/11/2019
A third of over-50s don’t think they have enough money to provide them with enough income for their retirement, according to new research by SunLife
Posted: 19/11/2019
Expenditure is exceeding income for 35% of over-55s, and a further 68% of these individuals have dipped into their savings to help plug the gap, according to new research by more2life
Posted: 19/11/2019
As UK households borrow more money than ever before, one in five UK adults do not know the difference between a personal loan and a payday loan, new research from comparethemarket.com has revealed
Posted: 18/11/2019
There were 290 million transactions on UK cardholders’ credit cards in August this year, 3.8% more than the same month in 2018, new UK Finance statistics revealed
Posted: 15/11/2019
The number of drawdown plans increased strongly in the third quarter of 2019 as the equity release market recorded its best quarter this year for volume and value of new business, according to new data from Key
Posted: 15/11/2019
Caspian has announced it will partner with CoinRoutes to offer their sophisticated trading algorithms to the crypto market
Posted: 13/11/2019
UK wage growth slowed down in the third quarter of 2019, with average earnings that exclude bonuses increasing by 3.6%, compared to the 3.9% growth seen in the previous quarter, new ONS figures have revealed
Posted: 12/11/2019
The UK’s economy has grown at the slowest annual rate in almost a decade, according to the latest ONS figures
Posted: 11/11/2019
More than half of technical queries received over the past month by one of the largest independent SIPP operators, Curtis Banks, concerned the subject of death benefits
Posted: 08/11/2019
UK house prices in October were 0.9% higher than in the same month a year earlier, according to new data from the Halifax House Price Index (HPI)
Posted: 07/11/2019
UK savers hoping to open a help-to-buy (HTB) ISA have until 30 November 2019 to do so, although rushing to meet the deadline could end up costing individuals dear, Hargreaves Lansdown has warned
Posted: 05/11/2019
A scheme aimed at providing communities in the UK with free-to-use ATMs has received overwhelming demand in its first month
Posted: 31/10/2019
Lloyds Banking Group has put a further £1.8bn aside for payment protection insurance (PPI) complaints before the August deadline, almost wiping out its third quarter profits
Posted: 31/10/2019
Starling Bank has launched a smarter euro debit card, giving business and personal customers the power to spend directly in two different currencies with a single debit card
Posted: 30/10/2019
The Bank of England (BoE) has revealed the net flow of consumer credit was £0.8bn in September, remaining below the £1.1bn average since July 2018
Posted: 29/10/2019
Government plans to hold its Budget on 6 November have been cancelled as Boris Johnson announced he would push for a general election
Posted: 25/10/2019
Fintech companies could be helping migrant workers in the UK to transfer a combined £520m back to emerging economies abroad, according to new analysis from Paysend
Posted: 17/10/2019
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
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
Banks need to invest in their mobile banking channel to make it more mainstream, according to GlobalData
Posted: 19/08/2019
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
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
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
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
Morgan Stanley is launching a digital vault to enable document sharing between wealth management clients and their financial advisers
Posted: 23/07/2019

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