Money blog: New Rightmove mortgage tool could have 'dangerous' consequences (2025)

BySarah Taaffe-Maguire, business and economics reporter

There's been a lot of talk about GDP today.

We've told you what it means, how much it's grown (more than expected at 0.7%), when, and why.

If you've been wondering what it means for you, this is the post you've been waiting for.

Firstly, the GDP news impacts you in the way any other good news about the economy does: consumers and businesses feeling good about the economy drives good consumer sentiment, which can lead to increased spending and more hiring.

Aside from this, economic growth means there are more jobs out there. Even if you're not looking for new work, you could benefit as competition for workers can raise wages.

Secondly, there's the whole political dimension. The government has pinned improving public services on the money that comes from growth.

When the economy is performing better, people are spending more and tax receipts can be up. More tax means the government has more money for investing in services.

The other element is Chancellor Rachel Reeves's commitment to her self-imposed fiscal rules on borrowing and spending.

The wiggle room she'd left herself to avoid breaking those fiscal rules has come close to being eroded at points since she took office, as borrowing costs rose.

Taxes would have been increased or spending would have been cut by government had the rules been broken.

Higher tax takes through higher GDP can help avoid that and limit the chance of spending cuts and tax rises.

If you wear a uniform to work, you might not know about the free uniform tax refund you could be able to claim.

To be eligible:

• You must wear a recognisable uniform that shows you've got a certain job, like a branded T-shirt, nurse or police uniform;
• Your employer requires you to wear it while you're working;
• You have to purchase, clean, repair and replace it yourself;
• You paid income tax in the year you are claiming for.

If all the above applies to you, then you're probably wondering how much you're able to get.

The standard flat rate expense allowance for uniform maintenance is £60.

By claiming a uniform tax refund, you'll get back the amount of tax you would have paid on that £60 - so if you're a basic-rate taxpayer, that'll be £12. For higher-rate taxpayers, that's £24.

But on top of this year's allowance, you can also backdate your claim by up to four tax years.

It's worth noting there are more specific limits for some occupations, which often involves specialist uniforms.

Here's some examples of annual allowances to be aware of:

• Firefighters and fire officers' allowance is £80;
• Dental nurses and healthcare assistants' allowance is £125;
• Pilot and co-pilots' allowance is £1,022;
• Mechanics' allowance is £120.

After applying, HMRC say your tax code will change for the tax year, meaning you'll be taxed less in the future and see a slight increase in your take-home pay.

If your claim is for the previous tax year, HMRC will either make changes through your tax code or give you a tax refund.

Dior has become the latest retailer to be targeted by a cyber attack, with hackers accessing some of its customer data.

The luxury fashion brand told Money that it has immediately taken steps to contain the security breach and is working with experts to investigate the issue.

It reassured customers that no financial information, including bank details or credit card details, was accessed or stored on the breached database.

"The House of Dior recently discovered that an unauthorised external party accessed some of the customer data wehold," a spokesperson said.

"We are in the process of informing customers where necessary.The confidentiality and security of our customerdata is an absolute priority for the House of Dior.

"We deeply regret any concern or inconvenience this matter maycause our customers."

Last month, Marks & Spencer was hit by a cyber attack, with customers' personal data stolen and stores suffering for weeks afterwards.

The Co-op was also targeted. It was forced to apologise after hackers managed to access the data of a "significant number" of past and current members.

A new online mortgage lender tool could have "dangerous" consequences, brokers have warned.

Rightmove and Nationwide have teamed up to launch the "property lender check", which gives potential buyers real-time information about their chances of getting a mortgage approved for a property before they view it or put in an offer.

We first told you about it yesterday - you can read that post here.

But brokers have raised concerns that the tool only uses the lending criteria used by Nationwide. In comments supplied to the Money blog by Newspage,Craig Fish, director at Lodestone Mortgages & Protection, said it could lead to buyers being "wrongly put off perfectly good homes".

"Let's be clear: this is based solely on their criteria, and they decline more properties than most lenders," he said. "This feature could end up devaluing properties, reducing interest in homes that other lenders would be happy to finance.

"It may create false red flags that damage confidence rather than boost it. The risk is that sellers suffer, buyers get confused, and solid homes are unfairly sidelined."

Fish called it "potentially a dangerous" move.

His thoughts were echoed byStephen Perkins, managing director at Yellow Brick Mortgages, who questioned if it could lead to legal challenges being raised.

"So just because Nationwide may not like it, many lenders may find the property acceptable. Could vendors legally challengeRightmoveif this was detrimental to marketing their property unfairly?"

BySarah Taaffe-Maguire, business and economics reporter

Avid Money blog readers will have seen our post earlier on why the straightforwardGDP growth figure doesn't tell the full story.

We suggested that a better figure - to give you a sense of whether or not people are feeling better off - is GDP per capita.

It breaks down how much the economy is growing on a per-person basis.

Unsurprisingly, the figures have tended to be lower than the headline GDP figure in recent years.

But for the first three months of this year, GDP per capita rose 0.5%.

Not for a year (the first quarter of 2024) has there been such large GDP growth per head.

Monzo customers will soon be able to cancel a bank transfer if they have made a mistake, but they'll have to be quick.

A new feature gives users between 10 and 60 seconds to withdraw the payment.

The "undo payments" tool could also help to stop payments to fraudsters, if the sender suddenly has any doubts about the transfer.

Described as a "comfort blanket", the bank said the feature will turn a moment of panic into relief.

Andy Sacre, Monzo's head of payments, said: "We know it's important to be able to send money quickly and easily - but we also know that mistakes can happen, whether that's sending the wrong amount to someone or paying the wrong person."

How does it work?

Firstly, Monzocustomers will have the option to configure a timer, choosing between 10 seconds, the default setting of 15 seconds, 30 seconds, and 60 seconds.

The timer will show on the payment confirmation screen, with an option to undo the payment.

That "undo payment" button may be tapped from there, or from the home screen or payment detail screen.

If the button is tapped in time, the payment will not leave the sender's account.

The potential recipient will also be unaware the money was nearly sent to them.

MFI stores haven't been open for nearly two decades, but the chain is making a comeback.

The furniture store went into administration in 2008, as the global financial crisis took hold, and stopped trading.

It was revived in 2011 as an online-only retailer, but collapsed again in 2015.

Now, 10 years on from its last revival, MFI products will soon once again be a click away.

That's after e-commerce firm Victorian Plumbing bought the brand last year, with plans for a relaunch in the second half of next year.

Mark Radcliffe, Victorian Plumbing's chief executive, said he is "very excited" about the brand's "re-invention", which he said will help them to tap into "more of the £20bn UK homewares market".

BySarah Taaffe-Maguire, business and economics reporter

While there was undeniable good news for the UK economy in GDP data, it wasn't mirrored on the stock market.

The UK's benchmark stock index, the FTSE 100 (made up of the most valuable companies on the London Stock Exchange), was barely up, rising just 0.08% - while the larger FTSE 250, comprised more of companies based in the UK, fell 0.1%.

Moving markets more than GDP was news on the oil price. It's fallen to a near-week-long low, hitting $63.57 for a barrel of Brent crude oil.

The drop followed comments from President Donald Trump on progress on another deal to avert Iran from developing nuclear weapons.

It's this lower oil price that has depressed the share price of oil giants that make up the FTSE 100.

BP and Shell are two of the biggest fallers on the FTSE 100.

Properties with garages have always been desirable, but now they can add as much as £129,000 to the value of your home, Zoopla data shows.

The property portal found that demand for the feature has soared in some parts of the UK.

The most clear example was in Barking and Dagenham in London. Zoopla found that the average asking price for a home in the borough was £371,000 - but this increased to £500,000 for those with a garage.

Demand for garages was second highest in Leicester, where they added £63,000 to asking prices.

Those hoping to secure a garage without paying a premium also have options.

Topping the list for the lowest average asking price is Hull, where a home with a garage can be found for around £180,000 - £30,000 more than the average property.

This is followed closely by Blackpool in the North West at £185,000 and Stoke-on-Trent in the West Midlands with an average of £220,000.

It should be noted that homes with garages are usually bigger - and that will be reflected in the average price figures.

Every Thursday, our Money blog team interviews chefs from around the UK, hearing about their cheap food hacks and more.This week, we chat toSteven Smith, chef patron of Japanese restaurantKAJIinManchester.

I don't think we should be looking at a minimum spend in restaurants...but maybe a deposit. No-shows have a much larger impact than someone ordering a small meal.

My go-to cheap meal is... Gochujang butter stir-fried noodles. It's spicy, savoury, and seriously satisfying. This recipe serves two....

• 200g dried egg noodles or instant ramen (no seasoning packets)
• 1 tbsp neutral oil
• 2 garlic cloves, thinly sliced
• 1 small onion, thinly sliced
• 100g white cabbage, finely shredded
• 1 carrot, peeled into ribbons or thinly sliced
• 2 medium eggs

The most overrated restaurant is...Hungry Horse Carvery. You can eat well on a budget, so I don't understand why people still choose to go there.

My favourite restaurant chain is...Rudy's pizza - you know what you're gonna get, fantastic price, quick service. I'd probably order one of their specials, but you also can't go wrong with their classic margherita.

It's fine to just order tap water...We have to cater for everyone. With the current economic climate, we don't want to exclude anyone. A guest who comes in for a small meal one day may love it and come back with their whole family the week after. You never know.

A great cheap eat in Manchester is...Kabana in the Northern Quarter - amazing Pakistani food that's cheap and delicious. I'd go on a Sunday and get their special Lamb Nihari.

The one thing I hate that some customers do is…say they have stringent dietary requirements, then change their mind when they want to try something. It makes a mockery of people who have real dietary requirements or allergies.

One thing I never want to see in a restaurant again… silver service and white gloves.

Influencers... There is certainly a place for them in the restaurant world - a lot of them are massive foodies, so really do appreciate the food we serve. However, if an influencer visits a different restaurant every week for free and praises everyone equally, then their content isn't very authentic. That's why we still need the press guides - they're a more veritable source.

The best chefs in the UK are…Mark Birchall, chef patron at Moor Hall and Gareth Ward, chef patron at Ynyshir. I've known Mark since I was 17 and have immensely enjoyed watching his constant pursuit of excellence. And as for Gareth, I really admire his IDGAF attitude. They're at two ends of the spectrum, both cooking at the highest possible standard, but one has embraced the rule book, and one has ripped it up.

The best city in the world to eat is... New York.

I've kicked customers out...Once, it was two football hooligans having a scrap. Then we've had customers being rude to me or my staff. If you came for dinner at my house, you wouldn't be rude - so why do people think it's ok to be rude at a restaurant? You're coming for dinner at mine, so treat me and my staff with respect.