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UK bank branch numbers decline rapidly in five years, figures show


By Michael Griffiths

The number of bank, credit union and building society branches in the UK has declined by 34% in the space of five years, data from the Office of National Statistics (ONS) has shown.

The figure slipped from 10,410 in 2019 to 6,870 in 2024, with last year alone recording a 10.4% fall, as reported by The Financial Times


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Intermediary confidence remains despite mortgage market cooling

Mortgage intermediaries remained confident in their businesses and the intermediary sector during Q2, despite a softening in market activity following the end of the stamp duty holiday in April

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IHT receipts jump 8% year-on-year in July

Inheritance tax (IHT) receipts totalled £3.06bn in the four months to July, increasing by 8% year-on-year, HMRC has revealed

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Mortgage products ‘no longer fit for purpose’, brokers say

Almost three quarters (74%) of brokers have stated that mortgage products are no longer fit for purpose for how people live and work today, Nottingham Building Society has found

Aberdeen agrees sale of financial planning business

Aberdeen has agreed the sale of its financial planning business to financial advice and planning firm, Ascot Lloyd, for an undisclosed sum

Advised platform AUM rises amid highest net sales in three years

Advised platform assets under management (AUM) continued to rise in the second quarter of 2025, with net sales at their highest level in three years, analysis from The Lang Cat has revealed
Annual house price growth climbs to 3.7% – ONS

UK house price growth accelerated to 3.7% in the year to June, up from 2.7% in May, according to the latest UK House Price Index published by the Office for National Statistics (ONS)

conveybuddy reports shift from purchase to remortgage instructions

conveybuddy has reported a shift towards remortgage instructions away from purchase instructions in Q2

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IHT receipts jump 8% year-on-year in July

Inheritance tax (IHT) receipts totalled £3.06bn in the four months to July, increasing by 8% year-on-year, HMRC has revealed

London and South East pays more IHT than Scotland, Wales and Northern Ireland combined

Financial estates in London and the South East paid almost three times more inheritance tax (IHT) than Scotland, Wales and Northern Ireland combined across the same tax year, new regional HMRC has data shown

IHT changes will ‘create confusion’ in Bank of Mum and Dad gifting – Key

Inheritance tax (IHT) receipts on unused pension funds are set to "create confusion and increase the risk of gifting mistakes" for the Bank of Mum and Dad, Key Advice has warned

Financial advisers and accountants report rise in clients struggling to pay tax bills

Accountants and financial advisers are increasingly seeing clients struggling to pay tax bills, new research from Premium Credit has indicated

Fernwood Financial Limited enters liquidation

Fernwood Financial Limited has entered liquidation, the Financial Conduct Authority (FCA) has announced

Forest Savers enters administration

Waltham Forest Council Employee Credit Union (WFCECU), trading as Forest Savers, has entered administration and has now stopped trading, the Financial Conduct Authority (FCA) has announced

FSCS confirms five firms declared in default in June/July

The Financial Services Compensation Scheme (FSCS) has confirmed that five financial services firms were declared in default in June and July 2025

Trust Financial Planning enters liquidation

Trust Financial Planning has entered liquidation, the Financial Conduct Authority (FCA) has announced, after Paul Stanley and Dean Watson of Begbies Traynor were appointed as joint liquidators last week

UK bank branch numbers decline rapidly in five years, figures show

The number of bank, credit union and building society branches in the UK has declined by 34% in the space of five years, data from the Office of National Statistics (ONS) has shown. The figure slipped from 10,410 in 2019 to 6,870 in 2024, with last year alone recording a 10.4% fall, as reported by The Financial Times

OSB Group oversees net loan growth in H1

OSB Group has reported a 1.2% rise in net loans and advances to £25.4bn in its latest H1 results, supported by a 10% growth in originations to £2.1bn

Outstanding credit card balances up 6.4% in last year – UK Finance

Outstanding balances on credit card accounts have grown by 6.4% per cent over the last year, new UK Finance figures have indicated

Financial adviser numbers decline significantly in last three years

Numbers of financial advisory firms and advisers have fallen significantly over the last three years, according to Freedom of Information data obtained by Begbies Traynor Group from the Financial Conduct Authority (FCA)

ABB pension plan completes £700m buy-in with Aviva

The ABB Plan has completed a £700m buy-in with Aviva, securing the retirement benefits of more than 4,450 pensioner members and over 2,900 deferred members

Misys Retirement Benefits Plan completes £25m buy-in with L&G

The Misys Retirement Benefits Plan has completed a £25m buy-in with Legal & General (L&G), securing the benefits of around 190 deferred and pensioner members

Helaba Pension and Life Assurance Plan completes £36m buy-in with PIC

The Helaba Pension and Life Assurance Plan has completed a £36m buy-in with Pension Insurance Corporation (PIC), securing the benefits of all 156 pensioner and deferred members

WCF Ltd Scheme completes £7.2m buy-in with L&G

The WCF Ltd Staff Retirement Benefits Scheme has completed a £7.2m buy-in with Legal & General (L&G), securing benefits for its remaining 122 deferred members

Advised platform AUM rises amid highest net sales in three years

Advised platform assets under management (AUM) continued to rise in the second quarter of 2025, with net sales at their highest level in three years, analysis from The Lang Cat has revealed

Aberdeen agrees sale of financial planning business

Aberdeen has agreed the sale of its financial planning business to financial advice and planning firm, Ascot Lloyd, for an undisclosed sum

Inflation rises to 3.8% in July

UK inflation increased to 3.8% in July, creeping up from 3.6% in the year to June, the Office for National Statistics (ONS) has revealed

Closing financial confidence gap could ‘unlock’ £137bn for retail investments

An estimated £137bn could be unlocked for retail investments across the UK by improving financial confidence, according to new research by Moneybox

PEXA to launch full UK proposition

PEXA has announced that it is launching its new full proposition to the UK market next month

Precise app accessed over 4,000 times in first year

Precise has revealed that its app has been accessed over 4,000 times in its first 12 months

Iress reports double-digit earnings growth in UK market

Iress has reported double-digit growth in its UK division in H1, which the software firm said had significantly contributed to its overall performance

e4 Strategic launches new digital workflow management platform

e4 Strategic has launched anew digital workflow management platform, VERSA, which aims to improve efficiency in the conveyancing process

News in brief - 22 August 2025

Today's round up of developments coming out of the consumer finance space, featuring Aldermore, LendInvest Mortgages and Skipton Business Finance

News in brief - 21 August 2025

Today's round up of developments coming out of the consumer finance space, featuring Hinckley & Rugby for Intermediaries, Landbay and Newcastle for Intermediaries

News in brief - 20 August 2025

Today's round up of developments coming out of the consumer finance space, featuring Word On The Street, Active Chartered Financial Planners and Principality Intermediaries

Pepper Money reduces bank statement requirements to one month

Pepper Money has reduced its standard bank statement requirements for employed and self-employed applicants to one month

Lending with a difference: A conversation with Family Building Society’s Nathan Waller

With demand growing for more flexible mortgage solutions, Family Building Society is carving out a strong reputation in later life, family-assisted, and buy to let lending. We speak to Nathan Waller, Business Development Manager at Family Building Society, to discuss how they’re supporting brokers, addressing complex borrower needs, and adapting to an evolving market.

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