A third (33%) of consumers say they do not regularly save any money, according to new research by Lloyds Bank. Part of Lloyds Bank’s ‘How Britain Lives’ study, the UK-wide analysis conducted in partnership with YouGov, also found that 7% of UK adults have no savings whatsoever to fall back on if they lost their…

Zopa has announced it has launched ‘Borrowing Power’ a new tool designed to help customers get access to cheaper credit. It represents the first time a lender has been transparent about what factors it looks at when deciding who to lend to. Zopa calculated that a customer taking out a new loan with Zopa could…

The number of first-time buyers in August reached the highest level since just before the financial crisis, according to the latest mortgage trends data by UK Finance, with 35,010 mortgage completions for new buyers – an increase of 0.7% on August last year. During the month there were 18,640 new remortgages with additional borrowing, down…

Ofgem has announced that Rutherford Energy Supply (trading as Uttily Energy), an energy supplier with around 280 business customers has ceased to trade. Under Ofgem’s safety net, the energy supply of Rutherford Energy’s customers will continue. Ofgem will choose a new supplier to take on all of Rutherford Energy’s customers. This supplier will contact these…

UK Finance has announced the appointments of Susan Allen, Head of Retail and Business Banking, Santander UK, and Charlotte Hogg, CEO, Visa Europe, to its board. Susan Allen is Head of Retail and Business Banking, Santander UK, and is responsible for the bank’s retail and business banking operations spanning 15 million customers and a nationwide…

CYBG has appointed Dave Pickering to its Group Risk function as its new Head of Integration and Transformation Risk Oversight. As part of the Risk leadership team, Pickering will be responsible for the risk oversight of the programme to successfully integrate and transform Virgin Money, working closely with the Group’s Board and leadership teams on…

Almost a third (29%) of consumers spend an average of £120 a year paying for unwanted policies, subscriptions, and memberships that they haven’t cancelled, according to new research by online bank Marcus by Goldman Sachs. Online subscription services (32%) are the most frequently forgotten subscriptions and policies to cancel, followed by gym memberships (26%) and magazine…

The Financial Conduct Authority (FCA) has announced that it plans to ban the way in which some car retailers, and other brokers in the motor finance sector, receive commission. Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay.  The broker can set that rate and the FCA…

The annual growth rate of outstanding balances on UK cardholders’ credit cards stood at 3.7 per cent in July 2019, continuing the downward trend from its recent peak of 8.3 per cent at the start of 2018 according to new figures by UK Finance. Cardholders made 1.5 billion debit card transactions in July 2019, 8.9…

Alternative lender Savvy.co.uk is to create 25 jobs after securing a £20 million investment. The funding, from London-based Cairn Capital, will increase lending capacity for the company that provide an ethical alternative to pay-day loans. Jobs created will be mainly in social media and digital marketing as well as software development for the company which…