Will UK mortgage rates rise even more if US inflation stays hot? Banking London markets have been spooked by worse-than-expected economic data across the pond that has raised uncertainty over when central banks will start lowering interest rates. So what does this mean for mortgages?
Lenders expect higher default rates on mortgages and credit cards in coming months Personal Finance British lenders are seeing increasing demand for mortgages and credit card lending but higher default rates, according to an official survey, as households and businesses struggle with elevated borrowing costs.
Should you buy NS&I’s British Savings Bonds or Premium Bonds? Personal Finance As the government launches its much-touted British Savings Bonds, City A.M. asks whether the product is worth investing in over Premium Bonds.
UK credit card debt jumps as household finances squeezed in warning sign for the economy March 18, 2024 Outstanding debt on UK credit cards jumped nearly 10 per cent last year, according to new data, as households turned to borrowing amid inflationary pressures and the cost-of-living crisis.
Remortgaging rates tick up as lenders bet on ‘captive audience of existing customers’ February 7, 2024 Mortgage lenders are increasingly raising rates on their home loan products amid uncertainty over the UK economy.
Savings rates have biggest monthly drop since 2009 as banks bet on rebound January 22, 2024 Fixed savings rates have clocked their biggest monthly drop in nearly 15 years, new figures show, as banks slash deals to compete for business and stay optimistic on an economic rebound this year. The average one-year fixed bond fell for a third consecutive month to 4.87 per cent in January – the first time it [...]
Are you one of the Brits missing out on £6.9bn of savings interest? January 16, 2024 Britons lost out on an estimated £6.9bn in interest from savings accounts last year, new research shows, as personal finance experts urge consumers to be more proactive.
Consumers urged to consider switching as nearly £400bn languishes in low-interest accounts January 11, 2024 Britons are keeping nearly £400bn in current and savings accounts earning just one per cent interest or less, according to new research, as savers are urged to shop around for the best deals.
Change in state pension age not to be decided until after next general election May 11, 2023 A decision on changing the state pension age won’t come until after the next general election, a top cabinet minister has admitted. Work and pension secretary Mel Stride said the starting age is not likely to go up to 68 until the 2040s and that there is “no reason why you need to take the [...]
Brits scramble to borrow more than £100bn with average loan hitting £5k as cost of living crisis deepens August 31, 2022 Brits will borrow £101.1b on new credit cards, loans, overdrafts and other forms of new credit arrangements in the next 12 months, new data shows today, Research undertaken by YouGov on behalf of financial services review platform Smart Money People, found that 71 per cent of people currently have less disposable income than they would [...]