Uk Finance

UK Finance has announced that the national roll-out of the new £100 spending limit for contactless card payments will begin today. Consumers will start to see retailers accepting contactless card payments up to £100, which will give them more flexibility when shopping in store. This will

More than 50% of new mortgage lending is going to individuals who will not have paid off their home loan before their 65th birthday, according to a new report released by UK Finance.

UK Finance is urging the British public to donate the spare change they have accumulated during the pandemic to charity. Figures from UK Finance show that the British public is sitting on piles of loose change worth an estimated £50 million. Along with the Charities Aid Foundation, UK Finance

The national roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021, according to UK Finance. The decision to raise the contactless limit from £45 to £100 was made by HM Treasury and the Financial Conduct Authority following a public c

More than £700,000 is being lost to bank transfer scams every day, new Which? research has revealed as the consumer champion calls for stronger protections to fix an unfair and inconsistent industry approach to reimbursement that currently results in less than half of losses being returned to

More UK homeowners are expected to fall into mortgage arrears this year as the economic repercussions of the COVID-19 continue to wreak havoc, according to new figures released by UK Finance. The trade association said mortgage arrears remained close to historically low levels in the first three mon

Criminals and scammers are taking advantage of young people's Covid-related financial troubles to hire them to unknowingly launder money, according to Cifas, the fraud prevention services.

Increasing the contactless payment spending limit could lead to a rise in thefts and fraud, consumer and finance figures have warned. On Thursday, Chancellor Rishi Sunak announced that the contactless payment limit in shops would rise to £100.

UK Finance has published detailed proposals for a new service company which will support the UK’s world-leading open banking infrastructure. Open Banking (OB) provides a secure way for financial information to be shared across different finance providers. It enables services such as account ag

The UK's banking industry is set to abandon plans to establish an agency to collect overdue emergency COVID-19 loans.

New figures published by UK Finance show there were 130,000 mortgage payment deferrals in place at the end of December 2020.

UK banks lent twice as much to small and medium-sized businesses in the first three quarters of 2020 as in the whole of 2019 with gross lending to SMEs reaching £54 billion between January and September. According to UK Finance, over 1.5 million businesses have drawn on government-backed

Mortgage approvals reached a 13-year high in November, according to figures released by the Bank of England.

UK banks are pushing the Treasury to increase the contactless payment limit from £45 to £100. If approved, the move would be one of the UK's first firm examples of parting company with the EU on banking standards.

The Financial Conduct Authority (FCA) has extended its offering of payment deferrals for mortgage and consumer credit customers for the next six months.