News

Bank mortgage approvals show the highest level since 2015. Mortgage approvals, mortgage applications approved by high street banks, reached its highest level for 5 years. Experts have said this could be a sign or a revival in the housing market. However, Samuel Tombs, the chief UK economist at the consultancy Pantheon Macroeconomics struck a cautious ...

Last year the Financial Conduct Authority, (FCA), announced new changes to Bank overdraft fees. The UK financial regulator is calling it ‘the biggest overhaul for a generation.‘ Banks and building societies will no longer be allowed to charge fixed daily or monthly fees for overdrafts. In addition, there will no longer be higher fees for ...

The freeze on local housing allowance (LHA) rates is to end in April 2020. The government announced the changes in its recent election manifesto.  The freeze was put in place in 2016 by the then chancellor, George Osborne.  It was due to end this April anyway. This means that, from 1 April, payments will rise in ...

Demands are pouring in. The festive season is over and once more its January.  The month that sees households receiving payment demands whilst dealing with the increased costs the Christmas period brought. This is nothing new, but the increased availability of buy now, pay later schemes has added to the debt pile for many.  Over ...

The national living wage is set to rise.  The question is by how much.  What will be the new minimum amount for the national living wage? What is the national living wage? The National Living Wage is the hourly rate for the minimum wage depending on your age and whether you are an apprentice. The ...

For the first time in nearly 7 years, UK consumers borrowing less by making net repayments on their credit cards. The Bank of England has reported the first monthly fall in credit card debts since July 2013.  Households have been reining in their spending. Households are trying to rebuild their finances after a borrowing boom. ...