Research amongst 1,500 UK parents with children aged 0-15 years, conducted by 3Gem on behalf of Scottish Friendly, shows six out of 10 (58%) of parents are concerned their child won’t be able to afford to live independently. With over half (55%) worried that the cost of the deposit for a rented accommodation is out…
Read moreA new report from UK Finance has shown that firms are benefitting from their investment in generative Artificial Intelligence (AI) and that ongoing collaboration with regulators, government and customers is important to support further innovation. The report found forms are innovating with the technology but equally are being careful to manage the potential risks and ensure…
Read moreFinancial wellbeing app, SuperFi has announced a new partnership with The Digital DRA. As part of the initiative, customers who pay their bills on time can earn cashback rewards and access a range of money-saving tools to generate savings of up to £1,488 annually. The company’s say that the partnership reflects a shared commitment to…
Read moreAfin Bank has announced it has appointed Rebecca Lewis as Head of Operations. Lewis has huge experience in financial services operations, particularly in the building society sector where she has had roles with Dudley Building Society, Skipton Building Society and most recently as Head of Customer Service at Tipton and Coseley Building Society. Afin Bank has…
Read moreMortgage lender, LiveMore has announced that it has appointed two new Key Account Managers for the North and Midlands and has also appointed a new Mortgage Underwriter. Claire Aston joins as Key Account Manager – Midlands, Aaron Farrell also join as Key Account Manager – North, with Leah Chiakl joining as a Mortgage Underwriter in…
Read moreNew research by Nationwide has found that strong earnings growth has made home purchasing slightly more affordable for first-time buyers. The data shows that a typical buyer with a 20% deposit now spends 36% of their monthly take-home pay on mortgage payments, down from 2023 but still above the long-run average of 30%. Earnings growth remains…
Read moreThe Financial Ombudsman Service (FOS) anticipates that fraud and scams will constitute 35% of its banking and loan cases in the 2025/26 financial year, translating to over 37,000 complaints. This marks an increase from the projected 33,000 cases by the end of the current financial year. FOS also expects to handle around 240,000 new complaints…
Read moreMortgage affordability improved for the second consecutive month in November, new analysis from Stonebridge reveals. The mortgage and protection network’s latest Mortgage Affordability Index shows that monthly repayments accounted for 36.3% of the average borrower’s salary in November. This is down significantly from 40% in September and 38.7% in October, the data shows. The last…
Read moreLatest research from Cifas has shown that nearly half (48%) of adults believe it is ‘reasonable’ to commit first-party fraud. First-party fraud, when someone knowingly misrepresents their identity or provides false information for financial or material gain, is on the rise. Examples include exaggerating salaries on mortgage applications, ordering goods online and falsely claiming they…
Read moreThe Department for Work and Pensions (DWP) has announced new measures which could see welfare fraudsters, who cheated the taxpayer out of £7 billion last year, banned from driving if they repeatedly fail to reimburse the public and repay their debt. As part of new legislation set to be introduced in Parliament to deliver the biggest…
Read moreLatest data from UK Finance has found that in Quarter 3 (Q3) in 2024 there were 48,862 new buy-to-let loans advanced in the UK, worth £8.6 billion. This was up 6.5 per cent by number (8.9 per cent by value) compared with the same quarter in the previous year. The average gross buy-to-let rental yield…
Read moreJames Sleight and Stratford Hamilton of PKF Littlejohn Advisory have been appointed as Joint Administrators of London Community Credit Union (LCCU) LCCU whose membership covers residents and employees who live, work or study in the London boroughs of Hackney, Haringey, Islington, Newham, Tower Hamlets, Waltham Forest or the City of London. LCCU’s Regulatory bodies have…
Read moreNew Freedom of Information (FOI) data from the Financial Conduct Authority (FCA) analysed by Quilter has revealed a significant rise in the number of people taking out mortgages with a term of 35 years or more, which will see them paying off their loans well into their 70s. In the first nine months of 2024…
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