Mortgage lenders pull deals at fastest pace since mini-Budget March 11, 2026 Mortgage lenders are pulling deals at the fastest rate since Liz Truss infamous mini-Budget amid growing agitation around the economic consequences of the Iran war. Nearly 500 homeowner mortgages have disappeared from the market in mere days, according to finanical information platform Moneyfacts, as average mortgage rates breeze past the five per cent mark. Moneyfacts [...]
Barclays joins run of mortgage rate hikes in blow to borrowers March 9, 2026 Barclays has become the latest in a flurry of mortgage lenders to hike their rates amid mounting fears the Bank of England will keep the base interest rates higher for longer following the war in the Middle East. The blue-chip banking giant has slapped a 0.1 per cent increase on rates on a selection of [...]
Mortgage approvals fall to two-year low March 2, 2026 Mortgage approvals slumped to a two-year low in January as buyers remain cautious following months of damaging uncertainty around the November Budget. Net mortgage approvals for house purchases dropped to 60,000 in January, six per cent below the 64,100 six-month average, according to new Bank of England figures. The property market is still suffering from [...]
Reeves lands £30bn reprieve ahead of Spring Statement February 20, 2026 Rachel Reeves has secured a record-breaking borrowing reprieve in fresh data that comes ahead of the Chancellor delivering her Spring Statement in March. The Treasury has been handed a surplus of £30.4bn in January, new figures from the Office for National Statistics (ONS) show, after a surge in tax receipts. The figure is £15.9bn higher [...]
FTSE 100 Live: Retail sales inch up; Segro ups dividend February 20, 2026 Good morning and welcome back to the City AM liveblog. The FTSE 100 took a breather from its blistering record run on Thursday after a major stock tumble at British Gas owner Centrica led the index into the red. Centrica shed over five per cent after telling markets it would hit pause on its share [...]
Brits borrowed more despite Budget unease January 5, 2026 British consumers took out more in credit over November than expected despite suggestions that Budget speculation would have held people back from taking risks, official data has shown. Economists widely predicted that weeks of speculation over tax rises dampened consumer sentiment and prevented people from borrowing more. But the Bank of England has revealed that [...]
UK government borrowing overshoots expectations in November December 19, 2025 UK government borrowing exceeded expectations in November but still fell year-on-year after tax receipts surged following Rachel Reeves’ first Autumn Budget. The latest release from the Office for National Statistics (ONS) showed public sector borrowing topped £11.7bn in November. City economists expected government borrowing to come in at £10.2bn over the month. Despite this, the [...]
City readies up for Labour’s borrowing spree November 26, 2025 Fixed income investors are readying for the Debt Management Office (DMO) to boost its gilt issuance for the current financial year, otherwise the level of UK government debt sold to traders, as the Labour government ploughs ahead with its borrowing spree. The DMO, an independent government body that oversees the sale of UK government bonds, [...]
Rishi Sunak: Tax rises at Autumn budget would crush confidence October 26, 2025 Former Prime Minister Rishi Sunak has warned Chancellor Rachel Reeves that she must cut spending at the next budget or risk economic disaster. Writing in his inaugural column for the Sunday Times, Sunak said that Reeves faces a “simple choice: spending cuts or tax rises.” “If the chancellor opts for the latter, it will crush [...]
Why cutting spending is now the only way to revive the economy October 16, 2025 With Brits stashing away cash in fear of further tax hikes under Labour, cutting spending is now the only way forward to grow the UK economy.