Lenders expect higher default rates on mortgages and credit cards in coming months April 11, 2024 British lenders are seeing increasing demand for mortgages and credit card lending but higher default rates, according to an official survey, as households and businesses struggle with elevated borrowing costs.
More than 7m Brits struggling with bills and credit repayments in January, regulator finds April 10, 2024 Around one in seven, or 7.4m, UK adults were struggling to pay their bills and credit repayments in January, according to a survey by the City regulator, as the cost of living crisis continues to bite.
Should you buy NS&I’s British Savings Bonds or Premium Bonds? April 6, 2024 As the government launches its much-touted British Savings Bonds, City A.M. asks whether the product is worth investing in over Premium Bonds.
Prenups on the rise as couples secure assets before tying the knot March 31, 2024 The rise in popularity of prenups is a trend that London-based law firm Stewarts has been witnessing over recent years.
Jeremy Hunt suggests the state pension triple lock is unsustainable. Is it? March 20, 2024 Jeremy Hunt suggested that the state pension might have to come "under review" in the coming years as an ageing population puts ever greater strain on the public finances.
Forget saving for a mortgage, one in ten renters still rely on food banks March 13, 2024 Around a third of social renters and half of private renters were only in poverty after their housing costs were factored in, suggesting that they were pushed into poverty by the amount they have to spend on housing.
Mortgage arrears surge 50 per cent to seven-year high as Brits squeezed by higher rates March 12, 2024 The proportion of UK mortgages in arrears rose to its highest level since 2016 at the end of 2023, according to data from the Bank of England, as borrowers are squeezed by high interest rates and household costs.
Londoners, here’s how much your council tax will be rising in April March 9, 2024 Councils are officially able to increase their tax rates by 4.99 per cent, but those with government permission are able to increase their residents’ bills by over 5 per cent.
Spring Budget 2024: High earners set to pay more tax under band freeze, analysis suggests March 6, 2024 Chancellor Jeremy Hunt has announced that National Insurance will be cut by 2p to lower the tax burden ahead of a general election. But analysis from investment platform AJ Bell has found that high earners are set to pay more overall under the government's tax band freeze.
The super-rich are getting richer, again – and millennials are leading the way February 29, 2024 The number of wealthy Brits rose in 2023, more than reversing the decline reported post-pandemic in 2022. Ultra-high-net-worth individuals (UHNWIs) – classed as those with over $3m in net wealth – increased in the UK from 601,300 to 626,619 on global economic growth and easing interest rates, according to the Wealth Report by Knight Frank. “The improving interest rate [...]