‘Disastrous’: Average five-year fixed mortgage rate surges to six per cent October 5, 2026 The average five-year fixed mortgage rate has broken the six per cent mark for the first time in three years after a fresh raft of lenders hiked prices. The typical five-year agreement has hit six per cent, according to Moneyfacts, while the average two-year is a whisker behind at 5.98 per cent. It is the [...]
Raising bank taxes will reduce jobs, former Chancellor Hunt warns Healey October 5, 2026 Former Chancellor Jeremy Hunt has issued John Healey a major warning over any increase to the level of taxes paid by UK banks ahead of the forthcoming Budget. The top Tory MP, who has sat on the back benches since Labour came to power in 2024, said Healey must ignore the “siren voices” calling for [...]
London to make up ‘more than half’ of new UK banking jobs September 28, 2026 London will make up more than half of all new banking jobs in the UK, new data has indicated, as the likes of JP Morgan and Barclays are set to bring a recovery in hiring levels. Data compiled by the recruitment firm Morgan McKinley has suggested that UK banking vacancies are set to rise by [...]
Working from home ‘more important than pay’ among top managers September 18, 2026 Flexible working arrangements are one of the main reasons managers stay in their jobs, according to new research from the Chartered Management Institute (CMI). According to the CMI, two in five of over 1,000 managers surveyed said flexible working was one of the main reasons they have decided to stay with their current employer. Arrangements [...]
Barclays staff revolt against tightened work from home policy September 17, 2026 Barclays is facing growing backlash from its own staff over a decision to tighten its home working policy. Thousands of staff have backed a call to exempt from the bank’s decision to enforce working in the office three days a week. Employees at the London listed bank have also demanded a one-off payment to offset [...]
Aldermore’s sale interest shows banks are over motor finance September 17, 2026 Lloyds, Nationwide and Investec are all tipped to be circling Aldemore as its South African over prepares a sale. Samuel Norman takes a look at the runners and riders and what it could do for the market. Has the banking industry finally moved on from motor finance? The number of suiters circling Aldermore suggest as [...]
Inflation inches higher ahead of interest rates decision September 16, 2026 Inflation inched higher in the year to August, official data has shown, adding to pressures faced by the Bank of England ahead of its interest rate decision on Thursday. The Office for National Statistics (ONS) said consumer price index (CPI) inflation in the 12 months to August was 3.1 per cent, higher than last month’s [...]
Top UK banks to raise £50m to build payments network September 15, 2026 Britain’s biggest banks are set to kick off a fundraising campaign that will pave the way for a domestic payments alternative to Mastercard and Visa. The UK Payments Delivery Company (PDC) is launching an equity capital raise as part of a new model from the Bank of England, aligning with the Treasury’s National Payments Vision, [...]
Barclays faces legal scrutiny over role in £90m ‘Ponzi scheme within a Ponzi scheme’ September 10, 2026 Barclays could be on the hook for as much as £37m over its role in a collapsed ‘Ponzi scheme’ after failing to dismiss claims brought by the company’s liquidators. The FTSE 100 finance giant provided banking services to a company called Denaro from 2013 until its demise a decade later, at which point it faced [...]
Five lenders hike mortgage prices as interest rate threat looms September 8, 2026 Five lenders hiked the price on their mortgage deals to kick off the week as the threat of the Bank of England increasing interest rates looms over the UK economy. Barclays has raised its rates on a fleet of products by nearly 0.2 per cent, with its two-year fixed rate rising to 5.53 per cent [...]