The Latest Breaking News from UK Finance

Around 5 million households have seen their mortgage interest rate change since the Bank of England base rate started to rise in late 2021. Over the course of the 2023 alone, the base rate increased from 3.5% to 5.25%, surpassing economists’ expectations and pushing mortgage rates to the highest levels…

But potential cuts to interest rates, as well as lower house prices in some locations, could provide house hunters with new opportunities.

More than a quarter of parents said they have been tricked into a purchase scam, according to a survey.

Men are more likely to have concealed sales purchases and are also more likely to say they suspect their partner of doing so, a survey indicates.

Number of buy to let mortgages in arrears doubles in a year as amateur landlords struggle with interest rate rises

Some 87,930 homeowner mortgages were in arrears in the third quarter of 2023, 7% more than the previous quarter, UK Finance said.

The Payment Systems Regulator said there are inconsistent outcomes for customers who report an APP scam to their bank or building society.

‘Particularly nasty’ romance scams and ID theft among fastest growing categories with total of 1.4m cases recorded, says UK Finance

Criminals stole £580 million through authorised and unauthorised fraud over the first six months of 2023, UK Finance revealed.