UK money news stories - 7 May 2025

One-of-a-kind ‘Delayed Start’ mortgage launched in UK

First-time buyers with Skipton Building Society’s new mortgage won’t have to start making repayments until after the first three months of buying their home. However, while it sounds like a brilliant perk and would give homeowners a bit of breathing space, those three months aren’t free…

May 2025’s current account news & offers

Be Clever With Your Cash’s editor-in-chief, Andy, has put together his monthly update for leading UK current accounts, including the latest switching deals, as well as some news you may have missed, to help you get the most from your bank.

Uber starts allowing customers to pay in cash

In a major move, the previously cashless taxi app has started accepting payments in cash from customers in most parts of the UK, outside of London. It comes just days after a report suggested shops and services might need to be forced to accept cash in the future, to protect those who rely on it.

Is Virgin Money’s new 6.5% Regular Saver any good?

A new regular saver has hit the market from Virgin offering a fixed rate until May next year. It’s a far cry from the 10% it was paying last year, but still hard to beat. So how does it work? 

Equity release borrowers to get a reprieve on hefty fees if they move in with relatives for care

New protections have been launched by the Equity Release Council to stop lenders who sign up to its code from charging punitive exit fees - often up to 25% of the amount borrowed - when homeowners need to move in with relatives for care.

London theft mapped: where are you most likely to get your phone snatched?

Mobile phone theft is rife, especially in big cities. It’s not just inconvenient but it can also be costly if crooks get into your banking apps and other accounts. But where are thieves most likely to strike?