British Business Bank cuts jobs in automation push Banking 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 [...]
Nationwide fires starting gun on mortgage deals ahead of interest rate decision Banking Nationwide has slashed its mortgage rates for the second time in the space of a week, ahead of the Bank of England’s interest rate decision on Thursday. The building society has taken the chop to its home loan prices, with a 0.28 percentage-point reduction. It follows a 0.12 cut on 10 June. The move comes [...]
Nationwide income soars on consumer lending boost Banking Nationwide booked a hefty jump in its annual income as the building society benefited from a boost in consumer lending and clawed out a bigger market share of mortgage balances. The mutual recorded a 22 per cent jump in total income to £6.4bn, which was up from £5.2bn in the previous year, led by a [...]
Barclays shares slide as sour loan provisions balloon to £823m April 28, 2026 Barclays made a mammoth reservation for bad loans in the first quarter led by the hostilities in the global market and a single name charge in its investment banking division. The blue-chip lender set aside £823m for potential loan losses, up from £643m in the same period last year, in a stark sign the firm [...]
Barclays sweetens mortgage deals as interest rate decision takes focus April 22, 2026 Barclays has become the latest bank to wade into the flurry of mortgage rate cuts as lenders turn their attention to next week’s interest rates decision. The FTSE 100 giant cut rates across more than 20 mortgage products from Wednesday morning. It follows on from a slew of reductions from the likes of HSBC UK, [...]
‘Mortgage mayhem’: Deal lifespans hit record low as interest rate cut hopes dim April 13, 2026 Borrowers have been left in a “mortgage maze” after lenders frantically pulled deals due to the unfolding crisis in the Middle East leading to the lowest average shelf-life on record. The average mortgage was on the market for just eight days in March – the lowest since records began in November 2011. This marks a [...]
Mood has shifted on housing market as rates rattle demand April 9, 2026 High mortgage rates are unlikely to deflate immediately even if the Iran ceasefire holds, property experts have warned, as rising rates stifle demand for houses. The number of Brits enquiring to buy a new home fell even further in March, down from negative 29 per cent in February to minus 39 per cent last month, [...]
‘Mortgage mayhem’: Banks’ rates soar past 5.5 per cent amid Iran war volatility March 25, 2026 The UK mortgage market has been flipped upside down with Brits facing higher prices to borrow in the short-term as the Iran war rattles the economy. The average five-year fixed deal for a homeowner has spiked to 5.54 per cent this morning, up from 4.95 per cent at the start of March, according to financial [...]
Mortgage deals shrink by a fifth since outbreak of Iran war March 23, 2026 The number of mortgage deals on offer for homeowners have shrunk by nearly a fifth since war broke out in Iran just over three weeks ago. Just shy of 1,500 fewer residential mortgages were available on Monday morning, compared with March 9, amounting to a contraction of 19.5 per cent. According to financial information platform [...]
Oaknorth delays net zero goal as US expansion fuels lending boom March 17, 2026 UK fintech Oaknorth has slapped a ten year delay on its ambition to be a net zero bank as the firm’s expansion across the Atlantic picked up pace. The small business lender said it expects to meet net zero commitments by 2045, as opposed to previous guidance of 2035 set four years ago. Oaknorth said [...]