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The Latest Breaking News from UK Finance

‘Remote purchase’ fraud in UK surges as customers tricked into disclosing passcodes

Banks say every day 7,000 incidents take place where scammers get people to disclose unique set of numbers

The Guardian - UK

Jump in unauthorised fraud cases last year – UK Finance

Criminals are using social engineering to trick people into divulging one-time passcodes, UK Finance said.

The Independent UK

Cash Isas: ministers sound out City bosses on cutting £20,000 tax-free allowance

Investment firms say scaling back tax breaks would help UK stocks, but banks and public are wary of change

The Guardian - UK

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18% quarterly jump in homeowner mortgage repossessions

Current repossessions predominantly relate to older mortgages, UK Finance said.

The Independent UK

Nearly a quarter of parents with adult children ‘have had them boomerang home to live’ for years

Two in five mothers surveyed would be happy to welcome their children back as adults, as would one in three fathers, according to the new data

Evening Standard

Bank of mum and dad ‘helps first-time buyers purchase homes two years earlier’

The growing reliance on family support risks deepening housing market inequality, according to UK Finance, which carried out the analysis.

Evening Standard

True value of ‘bank of mum and dad’ for first-time buyers revealed in new analysis

Years of saving and thousands of pounds are saved with family support, researchers find

The Independent UK

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Tracker mortgage holders could save nearly £350 a year following rate cut

Thursday’s base rate reduction by the Bank of England would help boost housing market activity, property experts said.

Evening Standard

UK interest rate cut: what does it mean for mortgages and savings?

The Bank of England has voted to cut the cost of borrowing, reducing the base rate to 4.25%. Here’s what it means for you

The Guardian - UK

Jump in number of buy-to-let loans taken out in final quarter of 2024

Global uncertainty and weaker equity markets had led to ‘canny investors’ looking for opportunities in the housing market, one property expert said.

Evening Standard

More than £1 trillion worth of card transactions made in 2024, says UK Finance

The average contactless transaction last year was for £15.86, UK Finance said.

Evening Standard

‘Sim farms’, high heels, zombie knives: what scammers buy with the money they steal

A haul of items seized by police reveals the scale and threat of payment fraud – a crime that can have significant emotional impact on victims

The Guardian - UK

UK ministers and officials treated to hospitality 3,500 times in five years, study finds

Some of firms providing meals and tickets also among those to secure most meetings in key departments

The Guardian - UK

Dip in number of mortgage approvals to home buyers in January

Some buyers may have decided they are too late to take advantage of a stamp duty holiday by the end of March, a finance expert said.

Evening Standard

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Evening Standard

Later life mortgage lending jumped in the fourth quarter of 2024

Stretched finances mean some people may need to borrow for longer, not out of choice but out of need, one expert said.

Evening Standard

Criminals offering fake help with fuel bills in digital wallet scam

The mobile phone scam, which could also involve fake notifications about parcels not being delivered, has links to international crime groups.

The Independent UK

Home repossessions increase but mortgage arrears on ‘downward trend’

While pressures remain, the challenges of higher interest rates and cost-of-living increases have started to ease, UK Finance said.

The Guardian - UK

Two men sentenced in UK over £1m fraud based on stolen banking letters

Muhammed Qayyum and Adbdul Khan intercepted post and used it to gain access to victims’ account details

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Evening Standard

'Buyer’s market’ predicted for next year with higher negotiating power and more house sales

First-time buyer activity could be ‘front-loaded’ in 2025 and increasing numbers of mortgaged owner-occupiers may return to the market

The Independent UK

Why property experts are predicting 2025 will be a ‘buyer’s market’ with sales boom

First-time buyer activity could be ‘front-loaded’ in 2025 and increasing numbers of mortgaged owner-occupiers may return to the market, experts said.

Evening Standard

London fraudsters who used 'SIM farm' to con £220K from victims in banking scam jailed

The fraudsters used texts and calls to scam victims of thousands of pounds

Evening Standard

Loneliness at Christmas puts people at risk of scams, campaign warns

Impersonation and romance scams are particularly harmful methods of defrauding people, the Take Five to Stop Fraud campaign said.

The Guardian - UK

Average UK house price hits record £300,000 as demand remains undented

Cost of housing at all-time high, Halifax reports, as mortgage lengths and borrowing multiples grow

The Guardian - UK

City regulator offers to water down ‘name and shame’ rules after pressure

FCA proposes giving 10 days’ notice before revealing identities of firms under investigation and will consider market impact

Evening Standard

Average tracker mortgage payments will fall by nearly £30

The reduction follows the 0.25% cut to the Bank of England base rate.

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