When it comes to investing, there are numerous questions that need to be asked, and lots of things which need to be properly understood before committing your hard-earned money
As a British citizen, you're entitled to save £20,000 every year, tax-free. This comes in the form of an ISA (place you chuck money and forget about it for a rainy later-life).
For all the resilience the UK economy has shown, there is no doubt that this year's ISA season is set against a backdrop of uncertainty. Whatever the pros and cons, Brexit, and a lack of clarity on what our future economic relationship with the EU will look like, has left us at a crossroads.
With just over six weeks to go in the 2018/19 tax year, many savers and investors will be turning their attentions to ISA season, with a view to making the most of their £20,000 ISA allowance.
The housing crisis in the UK is widely mentioned in the media, but the extent of it is often underestimated.
The 2019 ISA season is now in full swing, and it's as good a time as any to focus on financial planning - and, within that, looking ahead to your retirement years to ensure financial security.
Lending Works Blog
Product updates, business news, and current affairs.
As 2018 draws to a close, with our bellies full of Christmas turkey, it's only natural to look back on the past 12 months and reflect. No doubt, it's been a turbulent one economically and politically, and not everyone has had it all their own way.
A recent study by Which? (published by Moneywise) has shone a spotlight on the practices of banks and other high-street financial institutions regarding the way savers and borrowers are treated.
With each passing day, savers are filled with hope that substantial and sustained increases to Bank of England (BoE) rates are on the cards.
This past week, Lending Works cemented its place as one of the UK’s biggest peer-to-peer lending platforms, surpassing the £100 million mark in terms of pounds lent.
It all started one rainy Sunday morning in a small Farringdon office back in January 2014.
2017 is a year which we will look back on with great pride. In 2016, a lot of groundwork was laid.
Peer to peer
It feels like a lifetime ago, but it’s worth remembering that, prior to the 2008 financial crisis, returns on savings accounts of 5 per cent were nothing unusual.
- Summary of a post.
- Summary of a post.
Anyone who keeps an eye on best buy tables may have noticed some encouraging shifts within the savings section.
In personal finance, there are few greater challenges than stashing away enough money to last for the duration of one's retirement.
The issue of self-employed workers has been something of a political football in the past.
Investing
With political parties jostling for position amid a series of Elections, and the ongoing spectre of a snap General Election looming large, the Labour Party put forward a policy last week which has proved to be a talking point: increasing the minimum wage to £10 per hour, and extending this to workers under the age of 18.
The vexing issue of social care, set against a backdrop of an ageing population trying to sustain itself, refuses to go away, and policy ideas invariably prove divisive.
Credit scoring is a system which can have a big impact on many of our lives, yet in the UK it is one that we don't seem to be fully across as a nation.
On 13th January, the open banking era completed its first year in existence, so it represents a natural juncture to reflect upon the past 12 months
As 2019 moves into full swing, a big priority for every household should be to get their finances into the best possible shape.
Clearly there is one story which is dominating the headlines at the moment: Brexit.
Finance
As an economy, we're a collective of buyers and sellers. One thing both parties have in common is that they want the process of making a payment to be as quick, convenient and safe as possible.
As the world's dependence on technology escalates, so too do the twin threats of fraud and cybercrime. And Brits, in particular, seem to be affected, especially so by the latter.
This week, Bitcoin breached the $12,000 mark for the first time. The total value of all Bitcoins is now approaching $100bn.
Undoubtedly the biggest driver of change over the coming decades will be Artificial Intelligence (AI) – a much-publicised subject, but also one which is often poorly understood.
The word ‘disruption’ is often associated with fintech, and sporting a positive connotation to boot.
We’ve written previously about the likelihood of a cashless society in the UK, and one of a number of reasons why such a prospect is unlikely in the short term is due to concerns relating to security with respect to online fraud and cybercrime.
Technology
On a daily basis, diligent readers of financial publications consume a wide range of economic data, which act as key performance indicators regarding the state of the UK economy.
As the adage goes, every 5-7 years, people forget that a recession happens every 5-7 years.
- Summary of a post.
- Summary of a post.
A couple of weeks ago, industry regulator Ofgem introduced a new cap on energy prices.
The decision to raise Bank of England (BoE) rates at the start of August was ostensibly one that would bring relief to hard-pressed savers.
Economy
The starting gun has been fired to seek out Mark Carney's successor as Governor of the Bank of England (BoE), but he will nevertheless remain in his post until January 2020.
Britons' obsession with home ownership is somewhat unique, and it is fair to say that many of our friends on the Continent are left perplexed by the importance we attribute to making the step up onto the housing ladder.
There are a number of statistics which emphasise the growing generational wealth divide in the UK; such as the projection that so-called millennials will be the first in modern history to be poorer than their parents.
Current affairs
When it comes to investing, there are numerous questions that need to be asked, and lots of things which need to be properly understood before committing your hard-earned money
For all the resilience the UK economy has shown, there is no doubt that this year's ISA season is set against a backdrop of uncertainty. Whatever the pros and cons, Brexit, and a lack of clarity on what our future economic relationship with the EU will look like, has left us at a crossroads.
The housing crisis in the UK is widely mentioned in the media, but the extent of it is often underestimated.
The Lifetime ISA (LISA), announced in 2016, would prove to be one of George Osborne’s last flagship gestures to UK savers and investors as Chancellor, eventually launching against a backdrop of anti-climax a year later in April 2017.
As the tax year end approaches, the financial services industry readies itself for a flurry of activity. That's in large part because, with just a couple of months to go, the so-called 'ISA season' is upon us.
Featured
Over the last decade, there can be little dispute that the reputation of mainstream banks – and particularly the so-called ‘Big Four’ (HSBC, Barclays, Lloyds and RBS) – is at its lowest ebb.
The idea of peer-to-peer (P2P) lending is a simple one; you lend money to those who wish to borrow, with a view to receiving a great return for doing so.
The peer-to-peer (P2P) lending industry is now regulated by the Financial Conduct Authority (FCA). The regulatory framework has been designed to protect customers and promote effective competition.
Loan underwriting is the process that we undertake to analyse all of the information provided by each loan applicant and their credit file to assess whether or not that applicant meets our minimum loan criteria. As part of that process all data is verified, analysed and summarised to paint a picture of each applicant.
When you earn interest from a regular bank savings account, for example, the bank automatically deducts basic rate tax (currently 20%) before paying your interest. With interest earned from peer-to-peer lending, tax is not deducted automatically so lenders will need to declare their income to HMRC.
Most popular
With political parties jostling for position amid a series of Elections, and the ongoing spectre of a snap General Election looming large, the Labour Party put forward a policy last week which has proved to be a talking point: increasing the minimum wage to £10 per hour, and extending this to workers under the age of 18.
The starting gun has been fired to seek out Mark Carney's successor as Governor of the Bank of England (BoE), but he will nevertheless remain in his post until January 2020.
The vexing issue of social care, set against a backdrop of an ageing population trying to sustain itself, refuses to go away, and policy ideas invariably prove divisive.
On a daily basis, diligent readers of financial publications consume a wide range of economic data, which act as key performance indicators regarding the state of the UK economy.
Perhaps the word 'fanfare' would be overstating the recent response to an uptick in UK savings rates.
Clearly there is one story which is dominating the headlines at the moment: Brexit.
