Revolut to take fight to high street banks with UK personal loans Fintech Revolut is ramping up its battle with high street banking giants with the launch of personal loans in the UK market. The digital bank said on Monday it would begin offering loans between £2,000 and £25,000, which will be repayable over one to five years. The firm has insisted loans will have “transparent terms” and [...]
UK bank lending growth to fall to three-year low Banking Growth in UK bank lending is forecast to stall in the coming years as borrowers feel the pinch of uncertain economic conditions. Lending growth is expected to slow this year to 2.9 per cent before dropping to a three-year low of 2.2 per cent in 2027, according to figures from EY. The figures mark a [...]
Mortgage rates at five-month high ahead of Bank of England decision Economics Borrowers are bracing for more mortgage woes ahead of the Bank of England’s interest rate decision this week. Mortgage rates have climbed to their highest level in nearly five months after some 25 lenders hiked their deals in the last week including the likes of HSBC, Lloyds and Nationwide. The average two-year fix has risen [...]
Investors risk losing life savings with unregulated services, watchdog warns August 20, 2026 The UK’s financial watchdog has warned everyday investors could lose their life savings if they pump cash into high-risk unregulated investment services. The Financial Conduct Authority (FCA) has said the recent failure of Woodville Consultants, a litigation funder which raised cashed through unregulated loan notes, had revealed the risks facing investors. Woodville collapsed in July [...]
Natwest hikes targets again after jump in profit July 31, 2026 Natwest has upgraded its income targets for a second quarter running as the bank posted better than expected profit and dished out a bumper dividend to investors. The blue-chip lender reported a 20 per cent jump in pre-tax profit in the first six months of 2026 to £4.3bn, up from £3.6bn the year prior and [...]
Mortgage approvals inch up yet gains to be ‘retracted’ July 29, 2026 Mortgage approvals rose slightly in June, according to Bank of England data, yet growing fears of a rise in interest rates could set the property market back again. Net mortgage approvals climbed by around three per cent, from 56,565 in May to 58,200 in June. That remained below the six-month average of around 61,400, and [...]
Iwoca closes bumper debt facility as sale speculation mounts July 27, 2026 Small business lender Iwoca has inked a new £250m debt facility that will help it ramp up its lending power just days after it emerged it had instructed bankers to launch a sale process valuing it at north of £1bn. The fintech closed the credit line from a household name bank and private credit giant [...]
British Business Bank cuts jobs in automation push July 21, 2026 The British Business Bank slashed its headcount in the last year as the government-owned economic development bank underwent a major restructuring. The bank – which backs loans from financial institutions in a bid to drive up UK small business lending – said in its annual report “a number of colleagues were placed at risk under [...]
Close Brothers shares fall as motor finance scandal threatens worst returns in Europe July 6, 2026 Close Brothers shares tumbled on Monday morning after a damning broker downgrade warned the bank was poised to deliver the “lowest value-creation” of Europe’s top 50 banks. The FTSE 250 bank’s stock was down nearly nine per cent in early trading to 401.70p as investors scurried for the exit door. The loss came on the [...]
Banks woo the wealthy to ace stable income streams June 17, 2026 As the great and the good prepare to gather at Wimbledon, banks are serving up glamorous treatment to woo the wealthy. In this week’s column Samuel Norman looks at the players looking to call game, set, match. If you want the Centre Court treatment from your bank, you’re going to need to arrive with a [...]