TSB has introduced new mortgages for first time buyers, making it easier for young people to get a mortgage - so long as they have a 15% deposit. On Friday, the lender revealed a range of mortgages for first-time buyers which use an easier stress test than for home-movers. A stress test is a calcula
Bank Of England
One in ten people in the UK are hoarding more cash at home than before the coronavirus pandemic in case of an emergency, according to new data from the Bank of England.
The Bank of England (BoE) has asked UK banks if they are prepared for interest rates to fall to as low as 0.00001% or into negative territory as officials discuss whether to cut rates below zero to boost the economy. Sam Woods, head of the bank’s Prudential Regulation Authority, has written to
The UK Government's plans to substantially increase low-deposit mortgages for first-time buyers have come amid an acute rise in loan prices. According to data from the Bank of England, the average cost of a two-year fixed-rate mortgage with a 5% deposit was 3.95 %in September, an increase from 3.02%
House prices in the UK rose by a substantial 2.0% month-on-month in August, marking the largest monthly rise since February 2004, according to Nationwide's latest House Price Index.
Worries are increasing at the UK's digital banks as the Bank of England sets a deadline for profitability.
The UK economic decline caused by the coronavirus pandemic will be less severe than first anticipated, however, recovery will also take longer, according to the latest data from the Bank of England (BoE). The bank currently expects the UK's economy to shrink by 9.5% this year. While this contraction
More than a quarter (27%) of UK children have said they enjoy learning about money at school, according to a new survey from Beano Studios.
The Bank of England has announced that it will inject an extra £100 billion into the UK economy whilst maintaining interest rates at a record low of 0.1%.
The Bank of England (BoE) and The Beano Comics have joined forces to teach school children how to manage their pocket money. In a new collaboration, the two have launched a 12-lesson course on financial literacy, called Money and Me which will be introduced to Scottish, English and Welsh
The UK economy is beginning to show slow signs of recovery after lockdown measures have been eased in the UK, according to the Bank of England (BoE) governor Andrew Bailey.
UK households repaid a record £7.4 billion of unsecured debt in April, according to data published by the Bank of England.
The UK Government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200m. The move aims to ensure those large firms which do not qualify for the Bank of England’s COVID Corporate Financing Faci
The Bank of England’s chief economist has suggested that it is considering introducing negative interest rates to help alleviate the economic woes created by the coronavirus pandemic. Andy Haldane said that pushing interest rates to below zero, as well as buying riskier assets under the c
The Bank of England has warned that the coronavirus pandemic will force the UK economy towards its deepest recession on record. The bank has revealed that the economy was on course to shrink 14% this year, based on the lockdown being relaxed in June.