UK money news stories - 25 June 2025

Cash Isa allowance should be capped at £10,000 to encourage investing, think tank says

As the Government look at reforming ISAs, think tank New Financial have given their opinion on how they should change to improve people’s finances. 

Premium Bond prize rate cut to 3.6%

From the August draw the prize rate of the popular savings bonds is being cut to 3.6%, down from 3.8%. While your odds remain the same for winning a prize at 22,000:1, you’ll be more likely to win one of the lower-value prizes.

New NatWest switching deal pays £175

NatWest has brought back its current account switching deal and this time it’s offering £175 - £125 initially and then a £50 bonus if you open its Digital Regular Saver that offers a rate of 5.5%. But how does it work and what else should you be aware of?

Interest-only mortgage could make comeback as regulator revisits rules 

Could the mortgage the regulator once called a ‘ticking timebomb’ actually be helpful to homeowners? The Financial Conduct Authority is having another look at interest-only deals to see whether they might be right for some people, despite their tainted image. 

Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help 

If you’re a customer of any of the Lloyds Banking Group banks your overdraft rate could be changing. Some for the better, but some could be worse off. Here’s what’s happening.

Thousands of ASOS customers banned and accounts deleted as retailer cracks down on ‘insane’ policy

Loads of ASOS shoppers have had their accounts closed after the retailer identified them as breaching the terms of its Fair Use Policy.  However, customers aren’t happy, describing the move as ‘unfair’ and ‘insane’.