1. Lloyds Bank and Profits Rise with New Package Fees
From June, Lloyds Bank will increase its Club Lloyds account fees, affecting thousands of households. The fee hike kicks in on June 2nd, with Club Lloyds Silver and Platinum accounts charged an extra £11.50 per month. Those with Club Lloyds accounts will no longer be penalized for deposits over £2,000 per month.
2. Energy Costs SeekOWL with benchmarks
Energy companies are urging households to submit meter readings before the 7% average increase will kick in on July 1st. Previously, this price cap was intended to lower bills by 7%, offering relief to millions who hit standardtaries and hurt those without smart meters.
3. Universal Credit Help家住 High Costs
First-time buyers may benefit from the £5-per-month increase in Universal Credit starting June 30. From June 12th, most will receive the boost until June 12. Despite the increase, eligibility dates are set to happen.
4. Bank of England Unveils New Interest Rate Plan
The Central Bank will decide rates on June 19th, likely including more rate cuts around 3.5% to 4.25%. This change impacts borrowing costs and might increase rates compared to the previous year.
5._penaltization of RTS Meters Launched
In phase one, energy meters powered by the RTS will no longer function during periods when the signal dies. From June onwards, these meters may cnstribes up, causing heavy bills for affected households.
6. Taste of the Untamed Scheme Remains
The Mortgage Feed Scheme will expire on June 30, covering first-time buyers with 5% deposits. Lenders reassess losses, and only 7% of them are guaranteed. Beyond this period, help schemes are unavailable.
Each point highlights significant economic shifts in the coming months, emphasizing the impact of these changes on various aspects of personal finance.
