UK Finance
| Use attributes for filter ! | |
| Chief Executive | Stephen Jones |
|---|---|
| Headquarters location | London, United Kingdom |
| Purpose | Banking in the United Kingdom |
| Founded | July 1 |
| 2017 | |
| Membership | financial services |
| Formation | 1 July 2017 |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2177949 |
About UK Finance
UK Finance is a trade association for the UK banking and financial services sector, formed on 1 July 2017. It represents around 300 firms in the UK providing credit, banking, markets and payment-related services.
The job sharing apps that feel like online dating
... Ms Wright, who works in the company s Uk Finance department, had gone part-time after her first maternity leave...
Thornaby: Woman targeted in £13k train station QR code scam
... Banking trade association Uk Finance says: The woman reported the scam to police and station staff...
Banks accused of dragging their feet over fraud refunds, says MP
... Trade body Uk Finance says the majority of money stolen is now refunded...
Mortgage arrears up sharply with landlords hit hard
... Rising interest rates have put pressure on homeowners, with 87,930 in arrears said Uk Finance, up 18% compared with July to September last year...
Touchscreen card devices may prevent blind customers paying
... He points out that the RNIB and Uk Finance, who regulate payment services such as card readers, developed accessibility solutions for this problem a few years ago...
Bankers' bonus cap scrapped allowing return of bumper rewards
... But Uk Finance, the body representing the sector, says scrapping the cap will make it easier to attract the best professionals from around the world...
Average five-year mortgage drops below 6%
... Banking trade body Uk Finance says there are about 800,000 of these deals ending in the second half of 2023, and about 1...
Hope for mortgage rate cuts after Bank of England decision
... Banking trade body Uk Finance says there are about 800,000 of these deals ending in the second half of 2023, and about 1...
Average five-year mortgage drops below 6%
By Kevin PeacheyPersonal finance correspondent, BBC News
The average rate on a five-year fixed mortgage has fallen below 6% for the First Time since early July, new figures show.
On Thursday, the typical rate dropped to 5. 99%, according to the financial information service Moneyfacts.
Lenders have been given some confidence to cut rates after the
The average two-year deal has a rate of 6. 5%.
Around three-quarters of mortgage customers hold fixed-rate deals. Banking trade body Uk Finance says there are About 800,000 of these deals ending in the Second Half of 2023, and About 1. 6 million expiring next year.
These borrowers were given Some Hope of rates turning The Corner when The Bank of England's Monetary Policy Committee decided to hold the benchmark interest rate at 5. 25% last Thursday. The Move was a surprise to some analysts who were expecting another rise.
There have been incremental drops in the average rates since then, with some major lenders - Such as Nationwide Building Society, HSBC and Natwest - Cutting the cost of A Number of deals.
Despite falling below 6%, the average five-year rate is still only back to The Level seen less than three months ago. On 3 July, the five-year rate was 5. 97%, but rising.
Borrowers still face the likelihood of having to pay hundreds of pounds more each month compared to their expiring deal.
That has caused concern among debt charities, and an expectation that house prices could drop further.
Brokers say there is no a much stronger chance of some mortgage-holders being able to seal a rate of less than 5%.
But they say there is no chance of rates plunging to the kind of ultra-low levels that benefitted homeowners in the decade or so before late 2021.
That is because the economic situation is very different and The Bank of England's governor, Andrew Bailey , has played down the possibility of the wider Bank rate being cut soon.
" I can tell you that we have not had any discussion. . About reducing rates, because that would be very, very premature. Our job is to get inflation down, " He Said last week.
Ways to save money on your mortgageThere are
Related TopicsSource of news: bbc.com
