UK money news stories - 2 July 2025

Rachel Reeves set to cut the cash Isa savings limit - what would it mean for you?

With rumours swirling around about a cut to the Cash ISA allowance for the past few months, the latest update is that Rachel Reeves will announce the changes in her Mansion House speech on July 15 and the allowance could be cut to as low as £5,000.

Bank of England to redesign banknotes - and wants your help

British banknotes haven’t seen a redesign in over 50 years - until now! Notable public figures from the past, like Sir Winston Churchill, could be on their way out while British birds, or bangers and mash, could be on their way in. The public are being asked to give their views and suggest their own themes. 

Brand new Lloyds Bank switch offer: £185 + free Disney+

We’ve seen a couple of new switching offers recently as banks try and entice new customers. The latest one from Lloyds offers £185 cash when you switch to one of its Club Lloyds accounts or its Premier account plus a freebie and 6.25% regular saver. But you’ll have to be quick, as the offer ends 28 July.

UK house prices fall by most in more than two years

House prices may have taken a tumble as demand weakened following the end of the temporary Stamp Duty break, but experts say things will pick up again over the summer. 

Lifetime ISAs leave some with less money than they put in

MPs on the Treasury Committee have been gathering evidence on whether Lifetime ISAs are still fit for purpose. In a new report released this week they revealed what they think.

Zopa launches 2% cashback current account plus 7.1% regular saver

After months of beta testing, Zopa’s launched Biscuit - the first account (with the exception of Santander) to offer cashback on direct debits since 2019. But how does it work and is it any good?