Rachel Reeves’s inheritance tax changes encourage more people to invest in previously unloved product

The government’s “inheritance tax raid” on pensions has helped drive sales of retirement annuities to new highs.

Industry data this week revealed they enjoyed a “record-breaking” 2025, with sales growing by 4% to £7.4bn and the average amount invested in an annuity surpassing £80,000 for the first time.

More than 500 deals now offer 95% loans as banks and building societies loosen their borrowing rules

Would-be first-time buyers have the biggest choice of low-deposit mortgages for at least 18 years, new data shows, suggesting that 2026 is looking positive for those trying to get a foot on the property ladder.

In recent months many banks and building societies have been loosening their affordability rules or launching deals that let people borrow 95% of the property’s value, and in some cases more than that.