[LINKS]: Links of the week

See all the links and our weekly headline roundup here.

UK Mortgage Growth Hits Decade-Low Amid Rising Rates and Weakening Housing Sentiment
- The UK experiences a decade-low mortgage lending growth due to high mortgage rates and subdued housing market sentiment. Read more
Economic Headwinds Expected to Stunt UK GDP Growth Through 2024
- Sustained challenges from high interest rates, inflation, and geopolitical tensions are likely to hinder UK GDP growth until 2024. Read more
Net Mortgage Lending Records Weakest Growth Since 2011
- Net mortgage lending in the UK remains sluggish, with 2023 witnessing the slowest growth since 2011. Read more
Bank Loans in the UK Expected to Rise by Only 1.5% in 2023
- Total UK bank loans are forecasted to grow by a mere 1.5% in 2023, significantly lower than pre-pandemic levels. Read more
Net Unsecured Lending Sees Strong Growth in 2023
- Net unsecured lending is expected to rise by 6.1% in 2023, the strongest growth since 2017. Read more
Rising Borrowing to Cover Unexpected Expenses
- Approximately 46% of people have to borrow to cover unexpected expenses, with men more at risk than women. Read more
FCA Urges Banks to Improve Treatment of Fraud Victims
- Banks are encouraged to enhance their treatment of fraud victims as the FCA finds deficiencies in handling fraud claims. Read more
Car Insurance Premiums Reach Record Highs
- Car insurance premiums soar by 29% during Q3 2023 due to rising costs, including energy and repairs. Read more
Relief for Homeowners as Meter Reading Discrepancies Resolved
- Homeowners receive relief as discrepancies in meter readings are rectified after months of dispute. Read more
OpenAI Leaks Updates on ChatGPT Ahead of Developer Conference
- OpenAI unveils Gizmo tool and updates to ChatGPT, promising more customization in chatbots. Read more
Elon Musk Reveals AI Chatbot “Grok” with a Rebellious Streak
- Elon Musk introduces “Grok,” an AI chatbot inspired by The Hitchhiker’s Guide to the Galaxy, surpassing GPT-3.5 in certain benchmarks. Read more
FCA Addresses Buy Now, Pay Later (BNPL) Small Print Issues
- The FCA takes action against PayPal and QVC for unfair and unclear small print in their BNPL contracts. Read more
One in Five Properties in England and Wales Witness 10% Rent Increases
- Rental prices surge by 10% or more in one-fifth of properties in England and Wales. Read more
Bank of England Maintains Interest Rate Amid Predicted Inflation Decline
- The Bank of England decides to keep interest rates steady at 5.25%, with gradual rate cuts expected in 2024. Read more
One in Ten SMEs Fold After Struggling to Access Funding
- One in ten SMEs facing funding challenges eventually folds, highlighting the broader obstacles SMEs encounter. Read more
Seven Million UK Residents Forced to Borrow to Cover Bills
- Seven million UK residents are compelled to borrow money to meet their financial obligations, with Northern Ireland most affected. Read more
Consumer Spending Soars by £494 Per Month on Housing, Food, and Energy
- UK consumers face a steep increase in the cost of living, with housing, food, and energy bills rising by an average of £494 per month. Read more
Financial Ombudsman Service (FOS) Witnesses Over 13,000 Complaints in H1 2023
- The FOS reports a substantial increase in banking and credit complaints, with fraud and scams contributing to half of the rise. Read more
Consumer Duty Targets Second Charge Mortgages and Marketing
- The FCA focuses on fair value and marketing practices in the second charge mortgage market as part of its Consumer Duty reforms. Read more
UK Mortgage Borrowers Anticipate Competitive Rates with Higher Fees
- UK mortgage lenders are expected to offer competitive rates but with higher associated fees, as interest rates remain stable. Read more