Lloyds Bank has become the first UK bank to set aside a whopping £450 million. This money is in case they need to pay back car finance customers who may have overpaid on their loans. This comes as part of a big investigation. The Financial Conduct Authority (FCA), our financial watchdog, started looking into this […]
The UK economy could be “returning to growth” as output rises to a nine-month high, new data shows. The S&P Global Flash United Kingdom PMI reported that business activity across the UK private sector has expanded for the fourth consecutive month – marking the fastest pace since May 2023 – driven by a robust upturn […]
Nestle, the food and drink giant behind Nespresso and KitKat, has confessed to a slump in revenue growth after shoppers were put off by its price increases. The Swiss firm declared yesterday that it saw organic growth of 7.2 percent in 2023 compared with the previous year, although this was spurred mainly by a 7.5 […]
Martin Lewis’s LISA reforms have been tipped to come to fruition in Chancellor Jeremy Hunt’s upcoming Spring Budget. The Money Saving Expert founder wrote an open letter to Mr Hunt in January with several proposed policy reforms to consider, one being an overhaul of the highly criticised Lifetime Lifetime ISA (LISA) rules. Cash LISAs are […]
HSBC has announced it will increase mortgage rates across the board from tomorrow in “another hammer blow” to Britain’s property market. The uprating follows similar moves by other lenders this week, including Santander, Coventry, and TSB. The bank is yet to confirm how much rates will rise, however, it’s understood that it will affect existing […]
It takes six months to settle into the world of work after landing your first job, according to research. A poll, of 2,000 workers, found starting their first role left many feeling “overwhelmed” and “out of their depth” – meaning it took months for them to feel comfortable in the workplace. However, 44 percent of […]
Lloyds Banking Group has announced a whopping increase in its annual profit by more than 50 percent, thanks to higher borrowing costs. However, it also revealed that it has set aside £450 million for potential costs from a major investigation into past car finance selling practices. The bank, one of the UK’s largest motor finance […]
Women are still far more likely to outlive their husbands but many face a financial shock when their partner dies as all too often most of the pension is in the man’s name. Married couples, civil partners and cohabitees all need to plan ahead to make sure their retirement income doesn’t die along with him. […]
The average UK household looks set to save around £293 a year when Ofgem announces the new price cap. Energy bills will drop to their lowest in level for more than two years from April 1, bringing some long-awaited good news for families amid the cost-of-living crisis. Cornwall Insight has forecast the average family will […]
France has defied Germany with a deal enabling its banks to continue using clearing houses in the City of London, in another massive blow for Project Fear. And City expert David Buik has said the decision eloquently demonstrates that such institutions were “a jewel in the crown” of Britain’s financial services sector. When Britain took […]
