Money news: page 14
- September 2025
Amendment inserts £39 million uplift to scheme year 15 spending obligation
The Warm Home Discount (Amendment) Regulations 2025, made on 17 September 2025, add £39 million to the Scotland scheme's final year spending obligation and extend the England and Wales rebate deadline.
Opt-out deadline for Winter Fuel Payment falls on 15 September 2025
Pensioners who do not want this winter's Winter Fuel Payment have until midnight on 15 September 2025 to opt out, or they will receive it and repay it through tax if their income exceeds £35,000.
Winter Fuel Payment Regulations 2024 revoked in England and Wales by the 2025 Regulations
The 2024 Winter Fuel Payment rules for England and Wales were revoked on 15 September 2025 and replaced by regulations making payments universal from winter 2025/26, with recovery from higher income pensioners.
Which? warns four in 10 adults unaware caller IDs can be spoofed
Which? has warned that four in 10 adults do not know caller and sender IDs can be spoofed, as it set out how the practice works and what is being done to stop it.
Treasury answers parliamentary question on mis-sold car finance compensation
The Treasury told Parliament on 8 September 2025 that it is working with the Financial Conduct Authority and Prudential Regulation Authority on motor finance commission practices, after the Supreme Court clarified the law.
Work and Pensions Committee publishes report on Jobcentre reforms calling for conditionality overhaul
The Work and Pensions Committee has called for an overhaul of Universal Credit conditionality, proposing a personalised action plan to replace the Claimant Commitment and a longer permitted job-search period.
Universal Credit Act 2025 receives Royal Assent
The Universal Credit Act 2025, which sets the formulae for uprating Universal Credit and income-related Employment and Support Allowance, received Royal Assent on 3 September 2025, with its rate changes taking effect from 6 April 2026.
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.