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Equifax open letter calls on industry to accelerate financial inclusion


By Michael Griffiths

Equifax UK has called on the lending industry to unite in accelerating financial inclusion and tackling economic abuse, in an open letter to the industry.

The credit reference agency is urging for a collaborative effort to address the challenges facing UK consumers, including the £20bn unclaimed benefits gap and making earlier debt engagement


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HSBC UK profits up as customer lending jumps in Q1

HSBC UK has reported a pre-tax profit of $1.71bn (£1.28bn) in its Q1 results, a figure up from $1.66bn in the previous quarter, but down from $1.81bn in Q1 last year

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LHV Bank loan book grows 30% in Q1

LHV Bank has seen its loan book increase by over 30% quarter-on-quarter in Q1 2025, reaching £400m

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More landlords planning to sell than buy, study shows

There are far more landlords planning to sell off property than invest in the next year, new research from Pegasus Insight has indicated

Over-60s housing wealth climbs to record highs

Owner-occupiers over the age of 60 now hold a record £2.89trn of net housing wealth in homes, worth a total £2.95trn, according to estimates from Savills

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College of Law pension scheme agrees £85m buy-in with Royal London

The College of Law Pension and Assurance Scheme has agreed an £85m buy-in with Royal London, meaning that all scheme liabilities are now fully covered by insurance contracts
Stamp duty changes could be ‘cliff-edge moment’, building society warns

The increase in stamp duty thresholds could be a ‘cliff-edge moment’ for first-time buyers (FTBs), according to the Yorkshire Building Society

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Gleaner Pension Scheme completes £7.5m buy-in with Aviva

The Gleaner Pension Scheme has completed a £7.5m buy-in with Aviva, securing the benefits of all 121 members, comprising 26 deferred and 95 pensioner members, and covering all the scheme liabilities.

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IHT receipts reach new year-on-year record in 2024/25

Inheritance tax (IHT) receipts increased by £800m in the 2024/25 financial year, with a record £8.2bn collected between April 2024 and March 2025, HMRC has revealed

17.9 million Brits to be dragged into basic tax rate, Quilter finds

Almost 18 million Brits are set to be dragged into the basic rate of income tax by 2027/28 as a result of frozen tax thresholds, Quilter has revealed

Advisers seek more support on IHT planning, study finds

Advisers are increasingly looking for support around inheritance tax (IHT) planning amid growing demand for advice, a new study by investment manager Downing has shown

Advisers see surge in IHT advice demand, Downing finds

Advisers have reported a surge in demand for inheritance tax (IHT) planning advice, with new clients accounting for most of the enquiries, research by Downing has found

Advisers risking regulatory issues on wills

Advisers are risking potential regulatory issues if they do not consider wills and Lasting Power of Attorney (LPAs) when recommending later life lending products, Key Later Life Finance has warned

FCA to streamline regulatory capital rules

The Financial Conduct Authority (FCA) has announced plans to streamline the rules on the types of funds that investment firms must hold to absorb losses during periods of stress

FCA calls on banks and societies to improve power of attorney policies

The Financial Conduct Authority has called on banks and building societies to improve their policies around power of attorney cases

FCA concludes consumer investment policy sprint

The Financial Conduct Authority (FCA) has concluded its six-week policy sprint, which aims to support new ways to help consumers make important investment decisions

HSBC UK profits up as customer lending jumps in Q1

HSBC UK has reported a pre-tax profit of $1.71bn (£1.28bn) in its Q1 results, a figure up from $1.66bn in the previous quarter, but down from $1.81bn in Q1 last year

Equifax open letter calls on industry to accelerate financial inclusion

Equifax UK has called on the lending industry to unite in accelerating financial inclusion and tackling economic abuse, in an open letter to the industry. The credit reference agency is urging for a collaborative effort to address the challenges facing UK consumers, including the £20bn unclaimed benefits gap and making earlier debt engagement

Savings product choice hits record high – Moneyfacts

Overall product choice in the savings market has risen to a record high in April, as has the number of cash ISAs, new Moneyfacts data has shown

Consumer finance new business jumps 3% in February – FLA

Business volumes across the consumer finance sector increased by 3% in February compared to 2024, the latest data from the Finance & Leasing Association (FLA) has shown

Gleaner Pension Scheme completes £7.5m buy-in with Aviva

The Gleaner Pension Scheme has completed a £7.5m buy-in with Aviva, securing the benefits of all 121 members, comprising 26 deferred and 95 pensioner members, and covering all the scheme liabilities.

College of Law pension scheme agrees £85m buy-in with Royal London

The College of Law Pension and Assurance Scheme has agreed an £85m buy-in with Royal London, meaning that all scheme liabilities are now fully covered by insurance contracts

Over £800m paid to address state pension underpayments

The Department for Work and Pensions (DWP) has repaid £804.7m to individuals impacted by historical state pension underpayments

Half of UK adults don’t know how much they’ll get in state pension

Fifty per cent of UK adults do not know how much they’ll receive in their state pension, Standard Life has found

LHV Bank loan book grows 30% in Q1

LHV Bank has seen its loan book increase by over 30% quarter-on-quarter in Q1 2025, reaching £400m

British Business Bank accredits Creative Growth Finance

The British Business Bank has accredited Creative Growth Finance (CGF) as a delivery partner under its Growth Guarantee Scheme

AJ Bell announces new record AUA

AJ Bell increased its assets under administration (AUA) to a record £90.4bn in its second quarter, a figure up 13% on last year

Shackleton launches new adviser division

Financial adviser Shackleton has announced the launch of a new personal injury and court of protection division

HALO Invest unveils research tool in preparation for adviser platform launch

HALO Invest has unveiled a new research product aimed at supporting investors in finding investment opportunities as it prepares to launch a new adviser platform in the UK

Air launches new app for later life lending advisers

Later life lending platform Air has launched a new app for its Air Club members which will deliver product rate notifications as well as market insight videos from industry experts

finova rolls out servicing upgrade for Redwood

Mortgage and savings software provider, finova, has rolled out a new servicing uplift for specialist business bank, Redwood Bank

Mortgage Brain and Aldermore complete API integration

Mortgage Brain has completed an API integration with specialist bank, Aldermore, as part of a move to make it quicker for intermediaries to run criteria searches

Stonebridge extends partnership with Matt Clarke Mortgage Services

Stonebridge and Warwickshire-based broker firm, Matt Clarke Mortgage Services, have renewed their partnership with a new long-term deal

News in brief - 29 April 2025

Today's round up of developments coming out of the consumer finance space, featuring Black & White Bridging, Hampshire Trust Bank and Alternative Bridging Corporation

News in brief - 28 April 2025

Today's round up of developments coming out of the consumer finance space, featuring Paragon Bank, CHL Mortgages for Intermediaries and Castle Trust Bank

Vida Homeloans integrates AVM into mortgage application process

Vida Homeloans has announced the integration of an automated valuation model (AVM) into its mortgage application process

BLOG: Expand the holistic solutions you can offer with Royal London Equity Release

Royal London Equity Release discusses the importance of holistic support for clients when it comes to later life lending

BLOG: The younger generation have spotted an alternative route into the housing market – and we should embrace it

Head of business development at Saffron for Intermediaries, Tony Hall, discusses how the younger generation can find their way onto the housing ladder

BLOG: Introducing eConveyancer+ | Raising the bar on communication

The latest MoneyAge blog explores eConveyancer+, a new standard in conveyancing designed to support brokers in delivering exceptional service with complete confidence

BLOG: What You Need to Know About Portfolio Landlords in 2024

Portfolio landlords – those with four or more properties - are the backbone of the private rented sector. Our latest report, Portfolio Landlord 2024, looked into who these landlords are, how they feel about their property business and their plans for expansion

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