One of the hallmarks of the cash ISA's success following its launch two decades ago was its simplicity, and it has undoubtedly proved a popular choice among UK savers.
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.
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.
On Monday this week, a new FCA regulatory framework came into effect for peer-to-peer (P2P) lending in the UK, in line with June’s PS19/14 Policy Statement.
As a platform, we take great pride in all that we've achieved since opening our doors for business nearly six years ago. We’ve
Since opening our doors back in 2014, we’ve always prided ourselves on living and breathing two key principles at Lending Works: innovation, and putting the customer first in everything we do.
On 4 June 2019, the Financial Conduct Authority (FCA) released its new regulatory framework for peer-to-peer lending (P2P); a Policy Statement known as PS19/14. As you might imagine, it's a document which, following a three-month consultation, is a hefty read of no fewer than 102 pages.
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.
If you're going to take a shine to an awards event, why not do it at the biggest one of them all?
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.
Last week, a controversial landmark was achieved: gender equality in the state pension age. Having spent decades apart, the process of convergence began in 2010 (off the back of legislation passed 15 years prior), at which point the state pension age for women was 60, while for men it was 65.
The housing crisis in the UK needs little introduction, and the statistics say it all. Rates of home ownership plummeted from 73.3 per cent in 2007 to just 63.4 per cent by the end of 2016.
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
January tends to be a comedown following the Christmas festivities, and, from a personal finance perspective, a time for many Britons to lick their wounds. In particular, for those who’ve over-extended their credit card, it may feel like the walls have started to close in.
As the good times rolled in the mid-2000s, only a precious few sounded the alarm as lending became increasingly reckless. Northern Rock's infamous 'Together' 125 per cent mortgage epitomised the rush for high loan-to-value (LTV) deals at a time when it was thought that house prices would just keep going up forever.
One of the perceived strengths of the auto-enrolment pension scheme is its simplicity – indeed, it is actually a greater effort for an employee to opt-out of a workplace pension than it is to be enrolled into one. No further actions are required, and the retirement fund grows as the months and years pass by.
The barely-anticipated Autumn Budget, perhaps predictably, fell by the wayside last week, with the country now heading to the polls next month.
- Summary of a post.
Whenever discussion turns to Britain’s misfiring property market, the words ‘stamp duty’ are seldom far away. Indeed, over the past two decades, it’s been something of a political football – one which has had a profound impact on both housing transactions, and the coffers at the Treasury.
Finance
Numerous theories have emerged as to why the UK has endured such a severe productivity problem over the last decade. Growth in productivity of just 2 per cent during that period would typically have been accomplished within a single year prior to the financial crisis, and thus the 'productivity puzzle' continues to confound economists
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.
Technology
A new year, and indeed a new decade has dawned. Reflecting on 2019, what seemed to have got lost in the noise and political hysteria was the fact that the UK economy actually held up remarkably well.
For those with an eye on the economy, 'GDP day' is always one to mark off in the calendar each month. And it's been a hot topic for the UK in 2019, with the latest update showing zero growth for the period from August to October.
Ahead of the IMF’s world economic outlook last month, new managing director Kristalina Georgieva described the global economy as being in a ‘synchronised slowdown’, and the institution has subsequently trimmed growth forecasts for 2020.
Last week we took stock of the labour market, with the latest Office for National Statistics (ONS) data showing that the tide may be beginning to turn on Britain's so-called 'jobs miracle'. Unemployment ticked up to 3.9 per cent for June to August (an increase of 0.1 per cent), with the number of people in work falling by 56,000.
In recent months, it’s been interesting to observe the reception to Greta Thunberg, the 16-year old climate change activist who has been afforded some high-profile forums. The impassioned viewpoints she has shared have earned her legions of fans, albeit no shortage of detractors too. In particular, a speech at the United Nations climate change summit stirred fractious debate.
- Summary of a post.
Economy
With the retail sector enduring its fair share of challenges, companies are looking at new ways to attract customers, and drive conversion. In an overcrowded, dog-eat-dog marketplace, with behemoths such as Amazon flexing their muscle, it’s easier said than done.
While it has held up better than expected over the past year or two, the UK economy and its macroeconomic indicators make for anaemic reading.
It’s no exaggeration to say that the global financial system as a whole is predicated on the ability to buy something now, and pay for it later. Barely anyone would be able to make a substantial purchase such as a house without an instrument like a mortgage.
In a difficult climate, customer acquisition and lead generation present stern challenges for UK retailers, and a great deal of marketing spend invariably gets directed towards getting feet through the door.
There is a variety of literature and research illustrating the importance of building brand loyalty, albeit with some degree of variance.
The old adage ‘cash is king’ has never seemed wider of the mark than it does today. In 2017, cash was eclipsed as the most prominent medium for payments in the UK, falling 15 per cent from the year before to a total of 13.1bn transactions.
Retail finance
Eighteen months ago, you could barely open the finance section of a newspaper without seeing headlines about Bitcoin.
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
As a platform, we take great pride in all that we've achieved since opening our doors for business nearly six years ago. We’ve
Since opening our doors back in 2014, we’ve always prided ourselves on living and breathing two key principles at Lending Works: innovation, and putting the customer first in everything we do.
With the retail sector enduring its fair share of challenges, companies are looking at new ways to attract customers, and drive conversion. In an overcrowded, dog-eat-dog marketplace, with behemoths such as Amazon flexing their muscle, it’s easier said than done.
On 4 June 2019, the Financial Conduct Authority (FCA) released its new regulatory framework for peer-to-peer lending (P2P); a Policy Statement known as PS19/14. As you might imagine, it's a document which, following a three-month consultation, is a hefty read of no fewer than 102 pages.
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
Featured
In a difficult climate, customer acquisition and lead generation present stern challenges for UK retailers, and a great deal of marketing spend invariably gets directed towards getting feet through the door.
There is a variety of literature and research illustrating the importance of building brand loyalty, albeit with some degree of variance.
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.
Most popular
January tends to be a comedown following the Christmas festivities, and, from a personal finance perspective, a time for many Britons to lick their wounds. In particular, for those who’ve over-extended their credit card, it may feel like the walls have started to close in.
A new year, and indeed a new decade has dawned. Reflecting on 2019, what seemed to have got lost in the noise and political hysteria was the fact that the UK economy actually held up remarkably well.
As the good times rolled in the mid-2000s, only a precious few sounded the alarm as lending became increasingly reckless. Northern Rock's infamous 'Together' 125 per cent mortgage epitomised the rush for high loan-to-value (LTV) deals at a time when it was thought that house prices would just keep going up forever.
For those with an eye on the economy, 'GDP day' is always one to mark off in the calendar each month. And it's been a hot topic for the UK in 2019, with the latest update showing zero growth for the period from August to October.
One of the perceived strengths of the auto-enrolment pension scheme is its simplicity – indeed, it is actually a greater effort for an employee to opt-out of a workplace pension than it is to be enrolled into one. No further actions are required, and the retirement fund grows as the months and years pass by.
On Monday this week, a new FCA regulatory framework came into effect for peer-to-peer (P2P) lending in the UK, in line with June’s PS19/14 Policy Statement.