Arcadia facing collapse

The 1-minute read to get the money news you need with expert adviser commentary.

Arcadia entering administration?

The Arcadia retail group could face collapse today, with no rescue deal in sight. Sir Philip Green’s retail empire is owner of Topshop, Burton, and Dorothy Perkins, and its collapse will put 13,000 jobs at risk. It’s facing a huge cash shortfall after the pandemic hit sales.

90% mortgages return

Mortgage deals for homebuyers with a 10% deposit are making a comeback*. There are now 80 different 90% mortgages available, up from just 56 at the start of the month. Lenders such as TSB and Yorkshire Building Society are putting 90% deals back on the market, but there’s a long way to go - back in March, there were 779 to choose from.

Shown the Huawei out

Huawei will be banned from the UK’s 5G network from September 2021 - that’s earlier than many people expected. Telecoms providers will not be allowed to install equipment made by the Chinese company. Why? The government consider Huawei to be a potential security risk because of its link to the Chinese state.

Some news from us

Savers can get 1.5% interest on their deposit savings with the Unity Mutual Lifetime ISA. And if you open the account through the Multiply app*, you’ll also get an exclusive welcome bonus worth £62.50. It’s a market-leading deal for first-time buyers.