Net mortgage lending to households fell to £3.1bn in May, marking the smallest increase in mortgage lending in a month since April 2017, figures published by the Bank of England (BoE) revealed
Ahead of the G20 summit taking place in Osaka, Japan, this week, deVere CEO and founder Nigel Green said leaders must take decisive steps towards a multilateral cryptocurrency regulatory framework, arguing that failure to do so would be “irresponsible and negligent”
A new report has suggested that Open Banking could realise £18 billion value for people and small businesses in the UK over the course of a year, but also highlighted complex challenges ahead to realise this value
The Bank of England’s governor has backed various FinTech initiatives, including opening its balance sheet to new payment providers like Facebook’s cryptocurrency
During his speech, Financial resilience and economic earthquakes, at the University of Warwick yesterday, Bank of England (BoE) senior official Alex Brazier emphasised that suspending funds can be a “double-edged sword”
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