Money news: page 12
- November 2025
New ADP applications required for remaining PIP claimants in Scotland
People in Scotland still receiving Personal Independence Payment must apply for Adult Disability Payment themselves from 6 November 2025, after Social Security Scotland finished transferring claimants.
UK Government publishes Financial Inclusion Strategy
The Treasury published its Financial Inclusion Strategy on 5 November 2025, covering access to affordable financial products and compulsory financial education in primary schools in England.
Consumer Scotland responds to Ofgem consultation on lower standing charge tariffs
Consumer Scotland has backed a temporary Ofgem requirement for suppliers to offer a lower standing charge tariff, urging a two year review and warning that costs could be redistributed between consumers.
£130 energy bill discount announced from next year
The Chancellor has announced a £130 discount on energy bills from next year, funded for three years, with £55 set to be added back onto electricity bills in 2029-30.
Annual growth of credit card borrowing reached 12.1%, the highest since January 2024
Bank of England data show annual growth in credit card borrowing rose to 12.1% in November 2025, the highest since January 2024, as consumer credit and mortgage borrowing both increased.
Autumn Budget 2025 announces Cash ISA allowance reduction from April 2027
The government has confirmed that from 6 April 2027 the Cash ISA allowance for under-65s will be £12,000, with anti-circumvention rules covering transfers, cash-like assets and interest on cash held in non Cash ISAs.
Budget 2025 announced NICs thresholds frozen until 2030-31
Budget 2025 extended the freeze on Income Tax and National Insurance thresholds for a further three years, with the main personal allowance and higher rate threshold held until 2030-31.
Budget 2025 announces changes to income tax, duties and allowances
Budget 2025 raises dividend tax from April 2026 and savings and property income tax from April 2027, freezes personal allowances to 2031 and adds new duties on vaping and gambling.
Chancellor announces freeze of student loan repayment threshold at 2025 Budget
The Chancellor announced at the 2025 Budget that the student loan repayment threshold of £28,470 will be frozen for three years from April 2027, with a Treasury Committee inquiry into graduate taxation following in March 2026.
Cold Weather Payment 2025 scheme opens
The Cold Weather Payment scheme for 2025 opens in England, Wales and Northern Ireland in November, one of a series of benefit changes listed in a timetable published by Turn2us.
Effective rate on newly drawn mortgages rose for the first time since February 2025
The Bank of England says the effective interest rate on newly drawn mortgages rose to 4.20% in November, the first increase since February 2025, as mortgage borrowing and credit card growth also picked up.
Experian revamps its credit score to a maximum of 1,250
Experian has expanded its credit score range from 0-999 to a maximum of 1,250, with new bands and features rolling out to customers from November and completing by the end of the year.
UK government announces removal of the two-child limit
The UK government has announced the two-child limit will be removed from April 2026, so families can receive the Universal Credit child element for all children regardless of family size.
Help to Save made permanent and set for expansion
The Government has confirmed Help to Save will become permanently available to new savers and will be widened from April 2028 to all Universal Credit households receiving the child or carer's element.
LHA failed to cover rent for over half of private renters on Universal Credit in England
Local Housing Allowance did not cover rent for 54% of private renters claiming Universal Credit in England by November 2025, the Joseph Rowntree Foundation has reported.
Net mortgage borrowing by individuals rose to £4.5 billion in November 2025
Net mortgage borrowing by individuals rose to £4.5 billion in November 2025, up from £4.2 billion in October, while the effective interest rate on newly drawn mortgages increased for the first time since February 2025.
Ofgem publishes statutory consultation on a Debt Relief Scheme
Ofgem has published a statutory consultation on a Debt Relief Scheme, setting out proposals for targeted relief for households in the most acute energy debt.
Pension Age Winter Heating Payment expected to launch in Scotland
Scotland's Pension Age Winter Heating Payment replaced the Winter Fuel Payment, with the first payments made in the winter of 2025 and rates for 2026/27 set by age and household circumstance.
Personal Allowance freeze extended to 2030 to 2031 at Autumn Budget 2025
The Personal Allowance stays at £12,570 through to 2030 to 2031 after the freeze was extended at Autumn Budget 2025, with the number of Income Tax payers projected to reach 40.8 million.
Personal tax threshold freeze extended by three years
The freeze on personal tax thresholds was extended by three years to 2030-31 in the 2025 Autumn Budget, keeping the personal allowance at £12,570 and the higher rate starting point at £50,270.
PRA confirms final rules on deposit compensation limit increase
The Prudential Regulation Authority confirmed final rules in November 2025 raising the FSCS deposit compensation limit to £120,000, effective for firm failures from 1 December 2025.
Salary sacrifice pension contributions NICs exemption capped from April 2029
The Government Actuary has set out the effect of the November 2025 Budget measure that caps the National Insurance exemption for salary sacrifice pension contributions at £2,000 a year from April 2029.
Scotland first part of UK to see over half of bank and building society branches close
Consumer Scotland says Scotland became the first part of the UK where more than half of bank and building society branches have closed, with 722 of 1,041 shut and 18 more due to close as of November 2025.
StepChange updated its Breathing Space suitability criteria, reducing registrations
StepChange changed its Breathing Space suitability criteria in November 2025, and Insolvency Service figures show registrations for the debt respite scheme running well below year-earlier levels through 2026.
Warm Home Discount scheme opens for 2025-26 winter
The Warm Home Discount scheme for winter 2025-26 is open, giving eligible households in England, Wales and Scotland a one-off £150 discount on their energy bill.
Welsh Government issues resultant proposals on flood insurance in Wales
The Wales Flood and Coastal Erosion Committee has published seven resultant proposals on flood insurance in Wales, covering uninsured properties, Flood Re eligibility and support for those outside the scheme.
Winter Fuel Payments to be made from November 2025
Winter Fuel Payments become universal in England and Wales from winter 2025/26 under regulations laid in August 2025, with payments from November 2025 and recovery from pensioners with taxable income over £35,000.
- October 2025
BSA research finds 29% of aspiring homeowners believe they will never own a home
Building Societies Association research published on 30 October 2025 found 29% of people who want to buy a home believe they never will, with deposits, repayments and stamp duty cited as barriers.
Attendance Allowance replaced by Pension Age Disability Payment in Scotland
Attendance Allowance has been replaced in Scotland by Pension Age Disability Payment, a devolved benefit for people over State Pension age with care needs, paid at two weekly rates.
Low Pay Commission submits 2026 minimum wage recommendations
The Low Pay Commission submitted its recommended minimum wage rates for April 2026 to the Government on 27 October 2025, proposing a National Living Wage of £12.71 an hour for workers aged 21 and over.