September 2023 News Archive

According to our latest data trends at Moneyfacts , the average credit card purchase APR (which includes card fees) rose to an all-time high of 31.8% APR this month. The average rate on a £10,000 loan has also risen and now stands at its highest point in over 10 years.

Latest data trends at Moneyfacts found the average credit card purchase APR (which includes card fees) rose to an all-time high of 31.8% APR this month.

The Bank of England’s Monetary Policy Committee (MPC) voted to keep the base rate at 5.25% today - the first time in almost two years the MPC have opted to keep borrowing costs unchanged.

This is the first time in almost two years the Bank of England’s Monetary Policy Committee (MPC) opted to keep borrowing costs unchanged.

Core inflation, which excludes energy and food prices, also fell.

Core inflation, which excludes energy and food prices, also fell.

Increased product choice, alongside falling average two and five-year fixed rates, may be an early sign of stability within the mortgage market.

Exceeding 5,300 at the start of September, product choice is at its highest level since February 2022.

In its 2019 manifesto, the Conservative Government pledged to keep the triple lock in place for the duration of its Parliament, but could rising wages force them to abandon this promise? Below we explain how the triple lock works, and why it will be an important part of the Government's manifesto.

Could the value of your state pension rise by more than inflation?

Longer mortgage terms will lower your monthly repayments but increase your interest overall.

Longer mortgage terms will lower your monthly repayments but increase your interest overall.