August will bring significant financial changes affecting various groups, from eBay sellers to homeowners. eBay will roll out faster payment options for sellers, and the Bank of England is poised to announce its next interest rate decision next month.
University tuition fees in England will see an increase from £9,250 to £9,535 starting August 1, marking the first rise since 2017. Additionally, maintenance loans for students will also go up, with those living away from their parents outside London seeing their annual loan rise from £10,227 to £10,544, and London-based students from £13,348 to £13,762.
eBay sellers meeting specific criteria will now receive their sales money within 24 hours of a sale, starting August 6, a significant improvement from the previous two-day wait period. The Bank of England will announce its interest rates decision on August 7, with the current base rate at 4.25%.
On August 21, Santander will close its 123 Lite current account, known for offering 3% cashback on household bills with a £2 monthly fee. Meanwhile, benefit payments may come early in August due to a bank holiday on August 25, potentially affecting payment dates.
Parents are reminded to renew their Child Benefit claims by August 31 for children continuing education or training after turning 16, as benefits will automatically cease after this date. Additionally, applications for 30 hours of free childcare must be submitted by August 31 to ensure funding from September 2025.
Stay informed about these financial changes and more by joining our Money WhatsApp group or signing up for Mirror’s Money newsletter for exclusive deals and updates.
