Energy Bills Jump 13% from 1 July — Typical Household Pays £221 More a Year
Ofgem confirmed the Q3 energy price cap on 27 May. From 1 July the typical dual-fuel household bill rises from £1,641 to £1,862 a year. Gas is doing the heavy lifting — up around 24% — while electricity rises roughly 5%. The driver is higher wholesale gas prices linked to the ongoing Middle East conflict.
Around 40% of accounts are on fixed tariffs and will not be affected immediately. For everyone else on a standard variable tariff, the increase lands automatically. If your fix expires soon, compare what is available now against the new cap rate before it rolls over.
Source: Ofgem — Energy Price Cap Will Rise by 13% from July | Related: Real Cost of Living Tool
FCA Proposes Mortgage Rule Changes — Wider Access for First-Time Buyers and the Self-Employed
The FCA published consultation paper CP 26/18 on 9 June, proposing more flexibility in how lenders assess mortgage applications. First-time buyers, the self-employed, people with variable or foreign-currency income, and older borrowers looking at retirement interest-only mortgages would all benefit if the proposals go through.
The practical change: lenders could take a holistic view of affordability rather than automatically rejecting on minor or historic credit issues. For the self-employed, it means more room to assess fluctuating income without penalising it. The consultation closes 28 July 2026.
Source: FCA — Proposes Changes to Help More People Access Mortgages | Related: Self-Employed Tax Calculator
MPs Demand Stamp Duty Overhaul by End of 2026
The Housing, Communities and Local Government Committee published a report on 9 June calling on the government to consult on SDLT alternatives before the end of this year. The committee says SDLT is "damaging the economy" by discouraging moves, and the banding structure has not kept pace with regional house-price differences.
Options include a revenue-neutral replacement, a rate cut to stimulate transactions, threshold reforms reflecting local prices, and updated first-time buyer reliefs. No legislation is imminent, but the pressure is now on the record.
Source: UK Parliament — Housing Committee: Reform Stamp Duty | Related: Property CGT Calculator
Key Dates
17 June 2026 (Tuesday) — ONS CPI release for May. April was 2.8%; the BoE expects a drift higher through Q3 on energy and food.
18 June 2026 (Wednesday) — Bank of England MPC decision. Bank Rate at 3.75%. Markets price a hold; the vote split will signal how close a cut is.
25 June 2026 (Wednesday) — Summer VAT cut starts. Children's meals and family attraction tickets drop to 5% VAT until 1 September.
6 July 2026 — P11D deadline for 2025/26 benefits-in-kind.