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The Latest Breaking News from UK Finance

Jump in mortgage arrears and homes being repossessed

Lenders stand ready to help anyone who might be concerned about their repayments, according to UK Finance, which released the figures.

The Independent UK

More than 10 million UK adults struggling with bills and credit repayments – FCA

Around 5.6 million adults were estimated to have missed bills or loan payments in at least three of the previous six months, the FCA said.

The Independent UK

More mortgage pain to come as some to pay £200 more a month, experts warn

The trend towards homeowners taking out longer fixed-rate mortgages has delayed the impact of rising interest rates on some households

The Independent UK

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More mortgage pain to come for homeowners, says think tank

The trend towards homeowners taking out longer fixed-rate mortgages has delayed the impact of rising interest rates on some households.

The Independent UK

A fraud expert’s tips on avoiding scams

Impersonation scammers are using increasingly sophisticated methods to swindle people. Here’s how to keep yourself safe. By Vicky Shaw.

The Independent UK

UK mortgage predictions: where will rates go next?

Mortgage rates are rising again and products are being pulled from the market amid higher-than-expected inflation figures.

The Week

£5,000 annual increase in the average cost of a mortgage for some borrowers

Over the course of the series of rate hikes taking the base rate from 0.1% to 4.5%, the average monthly tracker mortgage payment has risen by £417.36.

The Independent UK

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Social media firms should reimburse online fraud victims, say UK bankers

Boss of industry body UK Finance accuses tech companies of ‘profiting’ from scams on their platforms

The Guardian - UK

Nearly 80% of APP scam cases start online, says UK Finance

About three-fifths of authorised push payment scam losses last year were reimbursed, according to UK Finance’s annual fraud figures.

The Independent UK

Risks and opportunities from green mortgages highlighted by FCA boss

Green mortgages can play an increasingly significant role in helping borrowers reduce emissions from their homes, according to the FCA’s David Geale.

The Independent UK

Impersonation fraudsters conned unsuspecting victims out of £177m last year

A leading industry body says more than 45,000 frauds were reported in 2022. It comes as a campaign has been launched to raise awareness of impersonation scams

Wales Online

Britons lost £177.6m to impersonation scams in 2022: ‘Fraudsters have improved their tricks’

The figures were released during Take Five Week, which encourages people to pause to think before transferring money or handing over personal details

The Independent UK

£177.6m lost to impersonation scams in 2022, says UK Finance

The figures were released during Take Five Week, which encourages people to pause to think before transferring money or handing over personal details.

The Independent UK

Interest rate rise another 'body blow' to household finances, says debt charity

Mortgage borrowers on deals which track the base rate will now see nearly £24 per month added to their costs on average

Wales Online

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The National (Scotland)

Mortgage payers 'hammered' as Bank of England hikes interest rates

INTEREST rates have been pushed up for the eleventh time in a row to 4.25 per cent, the highest rate for 14 years.

The Independent UK

‘Latest body blow to household finances’ as Bank of England base rate raised

Thursday’s base rate increase will add around £23.71 per month or more than £284 per year to the average tracker mortgage, industry figures show.

The Guardian - UK

UK interest rate rise: what it means for you

How the new base rate of 4.25% might affect mortgages, house prices and credit cards

The Money Edit

Paying at the pump: why is my payment card pre-authorised for up to £120 when I fill up?

If you choose to ‘pay at the pump’ when filling up with fuel, your payment card could be pre-authorised for up to £120. We explain why this happens and what it means for motorists

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The Guardian - UK

Paying for petrol at the pump can plunge you into the red

A ‘pre-authorised’ sum up to £120, taken from a bank card before you fill up, is ring-fenced

The Independent UK

New consumer duty could lead to reduced mortgage access, says UK Finance boss

The measure coming into force from July 31 will set higher standards of consumer protection across financial services.

The Independent UK

Proposals to reimburse scam victims are half-baked, says Treasury Committee

Treasury Committee chair Harriett Baldwin said regulators need to sort out exclusions and criteria quickly.

The Independent UK

Thousands of Ukrainian refugees can access UK banking services now

More than 70,000 Ukrainian refugees can now receive their income, send money, and pay for goods through a UK bank account

The Independent UK

Tens of thousands of Ukrainian refugees helped to access UK banking services

More than 70,000 people have been helped to build their lives more easily by enabling them to receive their income, send money, and pay for goods.

The Independent UK

Warning about romance scammers issued ahead of Valentine’s Day

Paying for an emergency, travel or bills are among the most common reasons people were asked for money after meeting others online, UK Finance said.

The Independent UK

Number of mortgage-holders getting into arrears rose in final months of 2022

There were fewer mortgage-holders in the most serious arrears bracket than in the previous quarter and fewer repossessions, according to UK Finance.

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