UK mortgage approvals rise as buyers race to beat stamp duty changes January 30, 2025 The number of mortgages approved by the UK banking sector rose unexpectedly in December, according to new data, suggesting buyers are looking to beat upcoming changes to stamp duty. The Bank of England’s figures showed that 66,500 mortgages were approved last month, which was up from 66,100 approvals in November. Economists had expected the number [...]
Savers get three-month warning over £50bn in maturing ISAs January 30, 2025 Savers are being urged to act as a huge £53.9bn in cash ISAs will mature by April, according to Paragon Bank. Paragon said that £36.4bn of that was held in one-year, fixed-term deals, which are almost certainly paying better rates than savers can get today. Derek Sprawling, savings managing director at Paragon Bank, said: “Over [...]
Show me my money! Four ways to get your finances in order before the new tax year January 30, 2025 The financial landscape is vast, and navigating it can be a headache, especially with a lot of change. However, with inflation still eating into savings, and a bigger tax burden on individuals looming for 2025, protecting your money and making sure it is working hard enough for you has gone from a nice-to-have, to a [...]
How to pick a financial adviser January 29, 2025 In a world of volatile markets and ever-changing regulation, having a financial adviser in your corner could be a shrewd move to protect your finances and ensure that you have enough money for a comfortable retirement. The use of financial advisers in the UK has slowly crept upwards in recent years. In 2022, 8.3 per [...]
Nearly a million extra savers face shock tax bills January 28, 2025 Almost 1m more savers could be hit with shock tax bills this year, Shawbrook Bank has warned – unless they keep their cash in an ISA. More than 6m savers will pay tax on interest in 2025, up 800,000 from the number of savers who had to pay tax on interest last year. This is [...]
How to shield your pension from Labour’s inheritance tax raid January 27, 2025 Financial advisers are cautioning against taking extreme measures in response to the government’s plans to slap inheritance tax on unspent pension pots from April 2027. However, there are some measures that savers can take as part of their overall estate planning strategy. Pension pots are usually exempt from inheritance tax. But in last October’s Budget, [...]
More borrowers will be paying off mortgage debt into their 70s January 21, 2025 In the first nine months of 2024, 22,103 mortgages with a term of at least 35 years were approved to people aged over 36.
The Notebook: Impulse investing? How FOMO is driving young investors January 15, 2025 New research has shown how fast-changing trends are driving investing among young Brits. But will they regret throwing out the fundamentals?
Mortgage rates to rise on back of bond market turmoil January 10, 2025 Gilt yields influence the mortgage market through swap rates, the main benchmark for mortgage lending in the UK.
UK adults spent more on Black Friday than they invested the entire year. Something’s gone wrong! December 6, 2024 When the average UK adult spends more on Black Friday than they invest in an entire year, it’s clear we’re losing the battle for consumer attention.