The number of over 50s not just supporting their children, but also their grandchildren, is increasing, as the older generations gift £53bn per year to their families, research from Saga Money has revealed
The Financial Conduct Authority (FCA) has today announced it is introducing reforms to fix a “dysfunctional overdraft market”, in a bid to make them simpler, fairer and easier to manage
The difference between the average two-year and five-year fixed mortgage rate has shrunk by 0.06 per cent, from 0.42 per cent to 0.36 per cent since the beginning of the year, the lowest difference recorded in seven years.
The average two-year fixed rate has fallen by 0.03 per cent from 2.52 per cent in January 2019 to 2.49 per cent this month, while the average five-year fixed rate decreased by 0.09 per cent from 2.94 per cent to 2.85 per cent over the same period
In its latest Household Finance Update for April 2019, UK Finance revealed that deposits held in instance access accounts were 2.4 per cent higher than last April, with Growth Street CEO Greg Carter stating that savers are “unaware” that their money is “sitting stagnant”
NatWest yesterday announced the release of its credit card that charges 0 per cent on balance transfers for 23 months and 0 per cent on spending for three months, despite Royal Bank of Scotland (RBS) pledging to not offer this type of product five years ago
Nearly a third (30 per cent) of Brits say their bank is over-ambitious introducing additional services on different devices, saying they do not need or want more ways to interact
The uptake of Open Banking and digital money management is being held back by a lack of consumer trust and confusion over data sharing, with 83 per cent of UK smartphone owners saying they have not yet downloaded a finance app
The Open Banking data sharing transformation is set to evolve into more wide-ranging changes to the financial services industry, including Open Finance and Open Data, according to a panel of experts
Over four million Brits admitted they do not have the mental capacity to make the right choices when it comes to tackling difficult decisions, research from Scottish Widows revealed
In February 2019, there were 24,880 new first-time buyer (FTB) mortgages completed, 4.1% more when compared to February last year, highlighting that FTBs continue to take advantage of low interest rates amid political and economic uncertainty, data from UK Finance revealed
Almost 12 million adults in the UK have confessed to openly discussing their finances with family and friends to avoid any mental or emotional health issues, new research has found
New research has revealed that after inheriting, 28 per cent of high net worth (HNW) clients’ children discontinue the relationship with their parents’ wealth manager, with many moving the money to digital challengers
The Financial Conduct Authority (FCA) has fined Standard Chartered Bank £102.2m for anti-money laundering (AML) breaches in two higher risk areas of its business, marking the second-largest financial penalty for AML control failings ever imposed by the regulator