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GDP shrinks 0.1% in May


By Dan McGrath

Gross domestic product (GDP) fell by 0.1% month-on-month in May, after dropping by 0.3% in April, the Office for National Statistics (ONS) has revealed.

In the three months to May, GDP is estimated to have increased by 0.5% compared to the three months to February 2025


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Cash ISA balances total £417bn in May

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

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Bridging finance ‘surging’ in 2025 – Clifton Private Finance

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

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LiveMore completes £215m social bond securitisation

LiveMore has completed its second social bond securitisation in a deal worth £215m

The Right DA Club reports ‘strong’ H1 results

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

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

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

First-time buyers (FTBs) are being offered significantly higher maximum loan sizes compared to what they have requested, new analysis from brokerage platform Acre has revealed

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Financial advisers ‘caught between two worlds’ in push for younger clients

Financial advisers are “caught between two worlds” as they navigate the tension between proven ways of working and the need to adapt to connect with younger generations, according to Nucleus

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

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

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

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

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

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

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

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

UK Finance publishes Mansion House submission for Govt

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

FSCS continues to build on compensation recovery in 2024/25

The Financial Services Compensation Scheme (FSCS) said it has continued to build on "strong foundations" and strengthen its core capabilities, after paying out £327m in compensation in the 2024/25 financial year

FCA details expectations on bullying and harassment in financial services

The Financial Conduct Authority (FCA) has clarified its rulings on bullying, harassment and violence as part of an effort to improve trust in the financial services sector

305,000 complaints sent to Financial Ombudsman Service last year

Consumers lodged more than 305,000 complaints about financial products with the Financial Ombudsman Service (FOS) in the last financial year, new figures have revealed

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

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

Monzo fined £21.1m for financial crime control failings

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

Cash ISAs boom in popularity over last year

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

Darlington BS warns of impact of changes to cash ISAs

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

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

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

One in five boomers describe inheritance as ‘retirement goal’

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

HNWIs ‘significantly underestimating’ money needed for comfortable retirement

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

Molins UK Pension Scheme completes £249m buy-in with Aviva

The Molins UK Pension Fund has completed a £249m buy-in deal with Aviva, securing the benefits of over 3,500 members of the scheme

The Right DA Club reports ‘strong’ H1 results

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

Cash ISA balances total £417bn in May

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

GDP shrinks 0.1% in May

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

Cash ISA savers lose out on £134k compared to investors

A cash ISA saver maxing out their annual allowance every year since the product launched in 1999 may have lost out on more than £134,000 in real wealth creation compared to those investing in UK shares, research by IG has found

Fiducia announces partnership with Doc2

Fiducia Commercial Network has launched a partnership with Doc2, a software firm that provides automated document creation and eSigning

Lantern launches tech integration with DebtStream

Lantern has adopted new software, powered by DebtStream, to improve its customer-facing portal and provide clients with support as they manage their financial situations

Verso develops strategic platform partnership with Nucleus

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

AJ Bell launches new advice platform

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

News in brief - 14 July 2025

Today's round up of developments coming out of the consumer finance space, featuring Zephyr Homeloans, Barnett Waddingham and Quantum Mortgages

News in brief - 11 July 2025

Today's round up of developments coming out of the consumer finance space, featuring Atom bank, Nationwide and Newcastle for Intermediaries

conveybuddy adds Birchall Blackburn Law to legal panel

conveybuddy has appointed Birchall Blackburn Law to its panel of conveyancing providers, adding further scale and capacity for its advisers and clients in England and Wales.

News in brief - 10 July 2025

Today's round up of developments coming out of the consumer finance space, featuring Black & White Bridging, West One and Broadstone

Lending with a difference: A conversation with Family Building Society’s Nathan Waller

With demand growing for more flexible mortgage solutions, Family Building Society is carving out a strong reputation in later life, family-assisted, and buy to let lending. We speak to Nathan Waller, Business Development Manager at Family Building Society, to discuss how they’re supporting brokers, addressing complex borrower needs, and adapting to an evolving market.

BLOG: Expand the holistic solutions you can offer with Royal London Equity Release

Royal London Equity Release discusses the importance of holistic support for clients when it comes to later life lending

BLOG: The younger generation have spotted an alternative route into the housing market – and we should embrace it

Head of business development at Saffron for Intermediaries, Tony Hall, discusses how the younger generation can find their way onto the housing ladder

BLOG: Introducing eConveyancer+ | Raising the bar on communication

The latest MoneyAge blog explores eConveyancer+, a new standard in conveyancing designed to support brokers in delivering exceptional service with complete confidence

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