Money news: page 16
- September 2025
DWP reassessing Carer's Allowance overpayments from 2015 to 2025
The Department for Work and Pensions is reassessing Carer's Allowance overpayments made between 10 April 2015 and 2 September 2025, with affected claimants possibly due a refund or a reduced or cancelled debt.
30 hours free childcare for children aged 9 months to 3 years from September 2025
From September 2025 working parents in England of children aged nine months to three years can access 30 hours of government-funded childcare a week, completing a rollout that began in April 2024.
Annual growth rate for credit card borrowing rose to 10.8% in September 2025
The Bank of England's September 2025 money and credit figures show annual growth in credit card borrowing rising to 10.8 per cent, as mortgage borrowing reached its highest monthly level since March.
Average household bill arrears 10% higher than a year earlier
Average household bill arrears among new StepChange clients reached £4,447 in September 2025, 10% higher than the £4,059 recorded a year earlier, the debt charity's monthly client data shows.
Child Benefit education and training condition changes come into force
Amendments to Child Benefit rules for young people in education or training took effect on 1 September 2025, changing the hours and types of study that can support a claim beyond age 16.
Effective rate on newly drawn mortgages fell to 4.19%, the lowest since January 2023
The effective interest rate on newly drawn mortgages fell by 7 basis points to 4.19% in September, the lowest since January 2023, the Bank of England has reported.
FCA consulted on draft rules for BNPL firms
The FCA has consulted on draft rules and guidance for buy now pay later firms, ahead of bringing deferred payment credit into its regulation from summer 2026.
Final Universal Credit migration notices issued to ESA claimants
The final migration notices in the Move to Universal Credit campaign were issued in the week beginning 1 September 2025, ending the managed transfer of Employment and Support Allowance claimants onto Universal Credit.
Fuel and electricity arrears rose in September 2025
StepChange reports that 46% of clients responsible for dual fuel bills were in arrears in September 2025, with electricity arrears at 29% and average household bill arrears at £4,447.
Government announces consultation on homebuying reforms
The government has announced a consultation on homebuying reforms covering upfront property information, binding conditional contracts and regulation of estate, letting and managing agents.
Guide updated for Digital Markets, Competition and Consumers Act 2024 unfair trading provisions
Trading Standards consumer guidance for England, Scotland and Wales has been updated to reflect the unfair trading provisions of the Digital Markets, Competition and Consumers Act 2024 coming into force.
Housing Emergency Action Plan published
The Scottish Government published a Housing Emergency Action Plan in September 2025, following its declaration of a national housing emergency in 2024, according to a Scottish Government report.
Industry alert on unauthorised access to pension scheme members' accounts
The Pension Scams Action Group has issued an industry alert warning trustees and administrators about unauthorised access to pension scheme members' accounts through hacking and impersonation.
Mortgage borrowing by individuals rose to £5.5 billion in September 2025, the highest since March 2025
Bank of England data show net mortgage borrowing by individuals rose by £1.2 billion to £5.5 billion in September 2025, the highest since March, while the effective rate on new mortgages fell to 4.19%.
ONS publishes Housing Purchase Affordability, UK: 2024
The Office for National Statistics reports that house price to income affordability ratios fell in all four UK countries in the financial year ending 2024, though homes remain less affordable than in 2006.
Personal loan debt among StepChange clients up three percentage points year on year
Half of StepChange clients who sought debt advice in September 2025 were in debt because of personal loans, up from 47% in September 2024, as average household bill arrears rose 10% to £4,447.
UK residential mortgage product count reaches series high of 7,062
The number of residential mortgage products in the UK rose by 220 over the month to 7,062 in early September 2025, the highest level since the series began in 2008.
Scotland to introduce Pension Age Winter Heating Payment from winter 2025/26
Scotland will replace the UK Winter Fuel Payment with the Pension Age Winter Heating Payment from winter 2025/26, paid by Social Security Scotland to all pensioner households, with higher rates for those on certain benefits.
UC rollout expected to complete by September 2025
The Office for Budget Responsibility expects the Universal Credit rollout, excluding some income-based ESA claimants, to finish by September 2025, eight years later than originally planned.
- August 2025
Consumer Scotland responds to FCA consultation on targeted support for pensions and investment decisions
Consumer Scotland has published its response to the Financial Conduct Authority's consultation on targeted support, setting out evidence on the advice gap in pensions and investments.
Winter Fuel Payment Regulations 2025 laid before Parliament
The Department for Work and Pensions laid regulations on 22 August 2025 making Winter Fuel Payment universal in England and Wales from winter 2025/26, raising the number entitled from 1.5 million to 10.9 million.
Interest rate changes to on-sale and off-sale savings accounts
Santander cut rates on a range of ISAs and easy access savings accounts on 11 August 2025, with further reductions to base rate linked accounts following on 2 September 2025.
Motor finance commission complaints fall to 21,500
New motor finance commission complaints at the Financial Ombudsman Service fell to 21,500 between April and June 2025, down from 36,000 in the final quarter of 2024/25.
Unaffordable lending complaints halve year on year
The Financial Ombudsman Service processed 68,000 new complaints between April and June 2025, with unaffordable lending cases halving to 10,000 from 21,600 a year earlier.
Government publishes Low Pay Commission remit and updated National Living Wage estimates for April 2026
The Government has published the Low Pay Commission's remit for April 2026 minimum wage rates, alongside an updated central estimate that the National Living Wage would need to reach £12.71.
Reports of fake HMCTS debt collection letters spike
Which? has reported a spike in fake debt collection letters claiming to come from HM Courts & Tribunals Service, alongside cold calls from fraudsters posing as debt advisers.
- July 2025
MPs open Child Maintenance Service inquiry
The Work and Pensions Committee has opened an inquiry into the Child Maintenance Service, examining payment compliance, how it treats families, payment levels and proposed changes to Direct Pay and Collect and Pay.
Work and Pensions Committee publishes Pathways to Work report raising concerns about UC health cuts
The Work and Pensions Committee has published its Pathways to Work report, warning that planned cuts to the Universal Credit health component could push disabled people into poverty and calling for a delay.
Guidance added on repaying the Winter Fuel Payment
HMRC has added guidance explaining who must repay the Winter Fuel Payment and how the money will be recovered through tax codes or Self Assessment returns.
MPs call for national strategy to tackle pensioner poverty
The Work and Pensions Committee has called for a UK-wide cross-government strategy on ageing, a Pension Credit take-up strategy for England by the end of 2025 and a Government-set minimum retirement income.