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.... The stake was bought in 2008 at a cost of £45bn. The lender said it had no update on progress in talks with the US Justice Department over claims that it mis-sold mortgage securities in the build-up to the 2008 financial crisis. ... [Read full article on BBC ]
Friday 28th of April 2017 06:26:06 AM
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.... . Lloyds, the UK's biggest mortgage lender, said the economy was still strong and was expected to grow at a similar rate to last year, at about 2%. ... [Read full article on BBC ]
Thursday 27th of April 2017 06:33:36 AM
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....Parliament is investigating whether UK banks have the capital means to keep going during a shock and Sir John and the Bank of England gave evidence. The Bank said some lenders could help themselves by selling off assets. ... [Read full article on BBC ]
Friday 28th of April 2017 02:26:12 PM
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.... The regulator’s inquiry into HBOS Reading, which was suspended in 2013 when Thames Valley police leapt into action, reopened last month. The primary focus may be on what HBOS did under its own steam, but Lloyds’ actions after it bought the ailing lender will also be under the microscope. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 06:37:04 PM
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.... This was the situation Northern Rock found itself in when panic started to flow across the Atlantic from the US sub-prime mortgage market. In 2006, Northern Rock’s rates, and hence its margins, were so thin it became the UK’s fastest-growing lender, while the more conservative Nationwide, spooked by the low margins, pulled out of the market for several months. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 06:00:05 AM
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....74%. That means it’s very, very unfixed indeed: a normal tracker mortgage moves in response to Bank of England rates; an SVR one moves in response to the lender’s whims. ... [Read full article on Guardian ]
Monday 24th of April 2017 10:30:16 AM
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....To the extent that growth has been picking up over the past 18 months it is because interest rates have been kept at record lows for such a long time. Borrowing has never been cheaper and lenders have started to forget just how tough life was back in 2008. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 02:02:46 PM
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....14bn) from shareholders in an effort to strengthen its capital base. The Swiss lender put on hold a plan to sell shares in its domestic banking business and posted a first quarter profit of 596m Swiss francs. ... [Read full article on BBC ]
Wednesday 26th of April 2017 06:27:10 AM
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....The bank said it would "continue to focus on customer service in what remains a highly competitive market". Speaking about the wider business, which includes lenders in Poland, the US, Mexico and Spain, Santander chairman Ana Botin said: "While the environment continues to be challenging for the banking sector, the outlook for Santander is positive. ... [Read full article on BBC ]
Wednesday 26th of April 2017 10:31:49 AM
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.... She will also call on all parties to include this in their election manifestos. She said: “Payday lenders are already subject to limits on the fees they can charge. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 04:51:46 PM
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.... And even if her income did qualify her for a mortgage that size, she wouldn’t be able to take one out in her sole name if you are to be joint owners of the property. Most mortgage lenders insist that all joint owners are named on the mortgage as well as at the Land Registry. ... [Read full article on Guardian ]
Thursday 27th of April 2017 06:00:09 AM
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....3 times earnings. The lender expects house price growth to more than halve in 2017 to about 2%, from 4. ... [Read full article on Guardian ]
Friday 28th of April 2017 07:15:39 AM
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....Profits at Lloyds Banking Group more than doubled in the first three months of the year, despite another hit for payment protection insurance mis-selling and the cost of compensating customers for fraud in the HBOS Reading branch. The bank, which is Britain’s largest mortgage lender, shrugged off the uncertainty created by Brexit and what António Horta-Osório, chief executive, described as a “challenging” operating environment. ... [Read full article on Guardian ]
Thursday 27th of April 2017 06:33:22 AM
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....“People are concerned about the restaurant,” said our estate agent after just four viewings in as many months. According to his firm’s mortgage adviser, most high-street lenders were turning down applications left and right for flats above A3 units due to the increased risks of fire, noise, cooking smells and, of course, diminished value. ... [Read full article on Guardian ]
Saturday 29th of April 2017 06:00:22 AM
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....Over the last year, house prices rose just 3. 5 per cent, according to the latest house price index from lender Halifax, while the FTSE 100 grew a whopping 19. ... [Read full article on Daily Express ]
Wednesday 26th of April 2017 12:01:00 AM
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Latest Finance News related to Lender

Our flat was perfect  – until planners let a restaurant open below image
Source : Guardian [Read Article] Saturday 29th of April 2017 06:00:22 AM
....“People are concerned about the restaurant,” said our estate agent after just four viewings in as many months. According to his firm’s mortgage adviser, most high-street lenders were turning down applications left and right for flats above A3 units due to the increased risks of fire, noise, cooking smells and, of course, diminished value. ...
'Fire sale' risk with Bank capital approach, says Vickers image
Source : BBC [Read Article] Friday 28th of April 2017 02:26:12 PM
....Parliament is investigating whether UK banks have the capital means to keep going during a shock and Sir John and the Bank of England gave evidence. The Bank said some lenders could help themselves by selling off assets. ...
RBS reports first quarter profit as turnaround continues image
Source : BBC [Read Article] Friday 28th of April 2017 06:26:06 AM
.... The stake was bought in 2008 at a cost of £45bn. The lender said it had no update on progress in talks with the US Justice Department over claims that it mis-sold mortgage securities in the build-up to the 2008 financial crisis. ...
Lloyds Bank's profits rise despite 'challenging' times image
Source : BBC [Read Article] Thursday 27th of April 2017 06:33:36 AM
Lloyds profits double to £1.3bn despite PPI and fraud payouts image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:33:22 AM
....Profits at Lloyds Banking Group more than doubled in the first three months of the year, despite another hit for payment protection insurance mis-selling and the cost of compensating customers for fraud in the HBOS Reading branch. The bank, which is Britain’s largest mortgage lender, shrugged off the uncertainty created by Brexit and what António Horta-Osório, chief executive, described as a “challenging” operating environment. ...
As first-time buyers, can we take out a buy-to-let mortgage? image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:00:09 AM
.... And even if her income did qualify her for a mortgage that size, she wouldn’t be able to take one out in her sole name if you are to be joint owners of the property. Most mortgage lenders insist that all joint owners are named on the mortgage as well as at the Land Registry. ...
Even Trump's Twitter binges aren't enough to make it worth $11bn | Nils Pratley image
.... The regulator’s inquiry into HBOS Reading, which was suspended in 2013 when Thames Valley police leapt into action, reopened last month. The primary focus may be on what HBOS did under its own steam, but Lloyds’ actions after it bought the ailing lender will also be under the microscope. ...
Santander chief warns on 'changeable' UK economy image
Source : BBC [Read Article] Wednesday 26th of April 2017 10:31:49 AM
....The bank said it would "continue to focus on customer service in what remains a highly competitive market". Speaking about the wider business, which includes lenders in Poland, the US, Mexico and Spain, Santander chairman Ana Botin said: "While the environment continues to be challenging for the banking sector, the outlook for Santander is positive. ...
Credit Suisse plans £3bn fundraising to boost capital image
Source : BBC [Read Article] Wednesday 26th of April 2017 06:27:10 AM
....14bn) from shareholders in an effort to strengthen its capital base. The Swiss lender put on hold a plan to sell shares in its domestic banking business and posted a first quarter profit of 596m Swiss francs. ...
Bubble, bubble, toil and trouble: why ultra-low mortgage rates are dangerous | Jonn Elledge image
....74%. That means it’s very, very unfixed indeed: a normal tracker mortgage moves in response to Bank of England rates; an SVR one moves in response to the lender’s whims. ...
Bill sets out plan to tackle 'extortionate' UK overdraft fees image
Source : Guardian [Read Article] Sunday 23rd of April 2017 04:51:46 PM
.... She will also call on all parties to include this in their election manifestos. She said: “Payday lenders are already subject to limits on the fees they can charge. ...
Whatever the IMF thinks, we are a long way from the boom time of 2007 | Larry Elliott image
....To the extent that growth has been picking up over the past 18 months it is because interest rates have been kept at record lows for such a long time. Borrowing has never been cheaper and lenders have started to forget just how tough life was back in 2008. ...
Low rates, tight margins: the mortgage market looks worryingly familiar image
.... This was the situation Northern Rock found itself in when panic started to flow across the Atlantic from the US sub-prime mortgage market. In 2006, Northern Rock’s rates, and hence its margins, were so thin it became the UK’s fastest-growing lender, while the more conservative Nationwide, spooked by the low margins, pulled out of the market for several months. ...
How to find the best personal loan without damaging your credit rating image
Source : Guardian [Read Article] Saturday 22nd of April 2017 06:00:06 AM
.... A report says many banks and other companies are “punishing” people for shopping around for a loan because they carry out an unnecessary type of credit check that leaves a mark on their file and can damage their credit rating. However, it is easy to avoid this problem because there are lots of lenders and comparison websites that allow people to get a personalised quote without affecting their credit rating. ...
Buy-to-let slump puts first-time buyers in the driver’s seat image
Source : Guardian [Read Article] Saturday 22nd of April 2017 05:59:06 AM
. Buy-to-let landlords are finally in retreat in the housing market, leaving young adults in a better position to buy a property, according to the latest data from mortgage lenders. ...
Record low rate signals mortgage battle image
Source : BBC [Read Article] Friday 21st of April 2017 09:48:53 AM
. A record low mortgage rate is the latest sign of lenders battling for new custom, but experts say the small print of deals requires careful examination. ...
Russia's secret image
Source : BBC [Read Article] Thursday 20th of April 2017 11:17:03 PM
...."My lecturer instilled in me the power of numbers and calculation, how it gives you the ability to predict things; in that sense the subject always felt magical," she says. Now Irina, 26, is a data scientist at Russian online lender, ID Finance, enjoying a lucrative career devising analytical models to determine loan eligibility. ...
Yorkshire Building Society launches record low 0.89% mortgage rate image
Source : Guardian [Read Article] Thursday 20th of April 2017 11:01:02 PM
....85% throughout the two-year period, but the SVR, which is currently 4. 74%, is variable and can be altered at the lender’s discretion. ...
Virgin Money chief: 'I have battled with mental health all my life' image
Source : Guardian [Read Article] Thursday 20th of April 2017 04:15:42 PM
.... And she insists her motto of “ebo” (wanting to make everyone better off) is not nonsense. “I hope I haven’t got a thick skin and don’t bullshit,” said Gadhia in her office above one of Virgin Money’s branches – which the lender insists are called “lounges” – just off London’s Piccadilly. ...
Bank of Cyprus UK launches competitive online account paying 1.05% image
Source : Guardian [Read Article] Thursday 20th of April 2017 12:15:27 PM
....To get above 2. 3% savers must look to stocks and shares investments or peer-to-peer lenders. ...
Green Investment Bank sold to Australian firm Macquarie image
Source : BBC [Read Article] Thursday 20th of April 2017 09:25:36 AM
....The Treasury secures £1. 7bn through the process, with a further £600m of liabilities taken on by the Australia-based business lender. ...
RBS stake may be sold at a loss, chancellor admits image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:01:26 PM
....The Treasury bailed out the bank by buying a 72% stake for £45bn, at 502p a share, at the height of the financial crisis in 2008. Shares in the loss-making lender are now trading at less than half that price at 223p. ...
Brexit, PPI and high cost credit are top priorities for City watchdog image
Source : Guardian [Read Article] Tuesday 18th of April 2017 05:32:29 PM
....As well as supporting the government’s withdrawal from the EU, the FCA listed a number of other priorities for the coming year including alerting customers to the August 2019 deadline to lodge claims for payment protection insurance (PPI), protecting vulnerable customers, continuing to scrutinise high cost credit and looking at the way people save for pensions. The FCA pointed to customers locked in to mortgage deals they signed before the financial crisis, which they would not be offered now under a new regime requiring lenders to assess the affordability of the loan. ...
Loan searches on the internet 'may affect credit rating' image
Source : BBC [Read Article] Tuesday 18th of April 2017 01:16:43 PM
....Personalised pricing means that, in effect, these people are seen to be applying for a loan. A series of these marks on somebody's file may be regarded as a danger sign by other lenders. ...
Indian tycoon Vijay Mallya bailed in UK image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:33:56 AM
.... . Kingfisher made annual losses for five years in a row and finally collapsed after lenders refused to give it fresh loans. ...
Financial Conduct Authority concerned over personal debt image
Source : BBC [Read Article] Tuesday 18th of April 2017 09:09:54 AM
.... It is also far smaller than mortgage lending, which amounts to 70% of loans to households. But UK lenders stand to lose much more on their consumer credit loans if there is an economic downturn and their borrowers default on their credit card and other personal loans. ...
Lloyds eyes Berlin for post-Brexit push image
Source : BBC [Read Article] Sunday 16th of April 2017 04:22:04 PM
....With the UK likely to leave the EU single market, they want to make sure they can still cater for EU clients. Lloyds is the only major British lender that does not currently have a subsidiary in another EU nation. ...
Higher interest rates. Great idea. Here’s why it won’t happen image
Source : Guardian [Read Article] Saturday 15th of April 2017 04:00:06 PM
....The IMF will warn that risks to growth remain on the downside as low interest rates sit in the column marked potential disasters alongside Brexit, Donald Trump’s emotional response to presidential decision-making, and Vladimir Putin’s drive to undermine western democracies . In a report last week before the gathering, which will give Philip Hammond a chance to catch up with his counterparts from around the world and countless central bank officials, the Washington-based lender of last resort said low interest rates in the UK, US and Europe meant the west was heading in the same direction as Japan and faced the prospect of decade after decade of low growth. ...
Banks cracking down on lending after borrowing binge, survey finds image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:53:17 PM
Is business starting to get spooked about Donald Trump? | Larry Elliott image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:36:22 PM
....The FPC’s concern is that too much unsecured lending is going on: too much credit card debt; too many payday loans; too many cars being bought on attractive-looking finance deals. It wants lenders to be more cautious because it knows that all the conditions are in place for a credit card crash: ultra-low interest rates, a strong labour market, lenders vying with each to offer the tastiest deals and inflation rising faster than wages. ...
UK technology firms turn to Silicon Valley to ward off Brexit blues image
Source : Guardian [Read Article] Thursday 13th of April 2017 06:00:19 AM
....Anxiety over the future of Britain outside Europe has not, it seems, spread to the home of Facebook, Twitter and Google. “Investors here just don’t know what Brexit means yet,” said Gerald Brady, managing director of the multibillion-dollar lender Silicon Valley Bank. ...
Surveyors get gloomy as property market stagnates image
Source : BBC [Read Article] Wednesday 12th of April 2017 11:19:32 PM
....However, both Nationwide and the Halifax have said that house price inflation is moderating. Separate figures from the Bank of England suggested that lenders are offering fewer loans. ...
Flyer beware: why the customer isn't always right at 40,000ft image
Source : Guardian [Read Article] Tuesday 11th of April 2017 05:03:37 PM
.... Indeed, airlines lost nearly $50bn (£40bn) in the past decade due to a combination of the 9/11 attacks, high oil prices and the credit crunch. The sector is making money now, but profits are slender – $9. ...
Wonga data breach 'affects 245,000 UK customers' image
Source : BBC [Read Article] Sunday 9th of April 2017 02:20:23 PM
.... . The lender, which provides short-term loans, said it had became aware of the breach last week but at that time thought no data was involved. ...
Wonga data breach could affect nearly 250,000 UK customers image
Source : Guardian [Read Article] Sunday 9th of April 2017 11:33:39 AM
....More than a quarter of a million customers of payday loan firm Wonga are being warned that their personal data may have been stolen in a data breach at the firm. The online lender said it was “urgently investigating illegal and unauthorised access” to the personal data of some of its customers in the UK and Poland. ...
Property’s equity can help your loved ones image
Source : Daily Express [Read Article] Sunday 9th of April 2017 12:01:00 AM
Greek gloom as economy stalls amid latest bout of EU wrangling image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
.... With the exception of pensioners – the great losers in Greece’s assault by austerity – anger has been replaced by malaise, the lassitude that strikes when loss becomes commonplace. Friday’s protest, one of more than 60 nationwide, came within hours of Europe escaping another dose of Greek drama after eurozone finance ministers announced that bailout talks – stalled as Athens bickered over the terms of its latest compliance review with lenders – could finally resume. ...
Are the wheels about to fall off the credit gravy train? image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
.... The Bank of England is concerned that consumer spending is underpinned by rising credit card debt, personal loans and car finance deals. Its financial policy committee (FPC) and Prudential Regulation Authority are checking on banks’ lending to people who may not be able to repay, the impact of that on lenders – especially if interest rates rise – and the availability of credit. ...
Post-Brexit-vote surge for UK economy comes to an end image
Source : Guardian [Read Article] Friday 7th of April 2017 04:34:17 PM
.... The ONS said monthly construction figures were prone to swings and it noted three-month on three-month figures showed output continued to rise. There were also fresh signs of a housing market slowdown as Halifax, Britain’s biggest mortgage lender, reported house prices were rising at their slowest annual pace for almost four years. ...
Greece agrees basic terms to unlock delayed bailout image
Source : BBC [Read Article] Friday 7th of April 2017 03:14:32 PM
.... . The programme has encountered repeated delays as the lenders monitor compliance with policy conditions. ...
Lloyds expects payouts to HBOS fraud victims to total £100m image
Source : Guardian [Read Article] Friday 7th of April 2017 08:16:49 AM
....Lloyds Banking Group expects compensation payouts for victims of fraud at the hands of former HBOS staff to total around £100m. The lender said that it will pay compensation for “economic losses, distress and inconvenience” as part of a package of measures to assist victims. ...
Co-op Bank receives takeover 'proposals' image
Source : BBC [Read Article] Friday 7th of April 2017 08:03:17 AM
....The Co-op Bank says it has received a number of takeover approaches from potential bidders. The lender said it had received "a number of non-binding proposals", and it had selected "several parties" with which to continue talks. ...
House price growth at lowest for four years, says Halifax image
Source : BBC [Read Article] Friday 7th of April 2017 07:50:30 AM
. The growth in house prices across the UK showed a significant slowdown in the year to March, according to the country's biggest lender. ...
£100MILLION - that's how much Lloyds expects to pay out in fraud compensation image
. The lender said that it will pay compensation for "economic losses, distress and inconvenience" as part of a package of measures to assist victims. ...
Why BlackRock wants to pay George Osborne £650,000 a year | Nils Pratley image
.... And, while Fink preaches a gospel of long-termism and sustainability – a refreshing antidote to old-style Wall Street excess – BlackRock’s size means it is constantly in the midst of political and regulatory debates. BlackRock’s closeness to politicians has also come under the spotlight in the past, notably during the financial crisis of 2007-09, when the US administration turned to the firm for help in analysing and solving the meltdowns at investment bank Bear Stearns, giant insurer AIG and government-backed mortgage lenders Fannie Mae and Freddie Mac. ...
Can we take out a bigger mortgage to cover the cost of renovation? image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:00:33 AM
....So as the property we have found is on sale for £550,000, and would probably need another £100,000 spending on it to do the extension and other renovation work, could we get a mortgage of £650,000 to cover the renovation or is that not possible? If not what would the best route be? RR. A No lender will give you a £650,000 mortgage to buy a property whose value is £550,000. ...
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Network Rail’s knotweed policy is undermining my house sale image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:00:33 AM
....I have so far had two sales fall through because Network Rail has refused to provide details regarding the eradication treatment it is applying. The vague information it does supply after weeks of waiting is not enough to satisfy many mortgage lenders, who require a management plan and guarantee of eradication. ...
Is there a housing bubble or isn't there? | Greg Jericho image
Source : Guardian [Read Article] Wednesday 5th of April 2017 02:00:07 PM
.... Lowe told his audience he is worried that “too many loans are still made where the borrower has the skinniest of income buffers after interest payments”. He noted that “in some cases, lenders are assuming that people can live more frugally than in practice they can, leaving little buffer if things go wrong”. ...
Bank still worried about personal lending image
Source : BBC [Read Article] Tuesday 4th of April 2017 11:26:26 AM
....The recent rapid rise in consumer borrowing is still a potential threat to the stability of the UK's financial system, says the Bank of England. The Bank is concerned about the damage that could be done to the finances of lenders if borrowers default on their borrowing during an economic downturn. ...
Bank of England sounds new alarm over consumer credit binge image
Source : Guardian [Read Article] Tuesday 4th of April 2017 11:21:46 AM
....The financial policy committee (FPC) announced last week it was launching a review into the credit quality of new lending – underwriting standards and the risk models used by banks – and said it would scrutinise these findings over the coming months. Tuesday’s record of the FPC meeting revealed policymakers were worried about the risk to banks and other lenders from rising consumer borrowing, although they played down the risks to the wider economy. ...
Lloyds to shrink hundreds of UK branches to two staff image
Source : Guardian [Read Article] Monday 3rd of April 2017 06:29:14 PM
....97% and edges the bank another step closer to full private ownership. The sale means more than £20bn has now been returned to government coffers since the lender’s £20. ...
Ignore the nanny-state claims – credit card firms need to help those in long-term debt | Nils Pratley image
.... If paying as much in interest and charges as in principal, it would take almost 20 years to clear the debt and £2,900 would be paid in interest. When a financial product is so lucrative for the lender, the market won’t reform itself. ...
Co-operative Group to write off the value of its stake in Co-op bank image
Source : Guardian [Read Article] Monday 3rd of April 2017 06:30:15 AM
....”. In February, the Co-operative Group’s chairman Allan Leighton said the group was open-minded about the future of the bank stake and did not rule out being part of a plan to inject more capital into the beleaguered lender. ...
Sydney property prices rise almost 20% in past 12 months image
Source : Guardian [Read Article] Monday 3rd of April 2017 03:08:56 AM
....“Weaker economic conditions in states reliant on the mining industry, rising underemployment, weak wages growth and less favourable housing market conditions will drive delinquencies higher,” vice president and senior analyst Alena Chen said on Monday. On Friday the banking regulator, the Australian Prudential Regulation Authority (Apra), wrote to major lenders warning them to tighten their lending practices on investor and interest-only loans. ...
The car-loan boom isn’t the housing bubble. But there still might be a crash image
....In 2008 it was the mortgage sector in the US that triggered the worst global financial crash since 1929. US house buyers on low incomes were sold homes by lenders using teaser rates that offered massive discounts for two or three years on standard fixed rates. ...
How to fight back against age bias on finances image
Source : Daily Express [Read Article] Sunday 2nd of April 2017 12:01:00 AM
UK house prices slide for first time in almost two years, says Nationwide image
....”. Looking at trends over the past decade, the mortgage lender said home ownership in England was at the lowest level since 1985, at 62. ...
HSBC adds new transgender titles including M and Misc image
Source : BBC [Read Article] Thursday 30th of March 2017 05:28:12 PM
....Other banks, including Royal Bank of Scotland and Barclays, also allow customers to have gender neutral titles. In November High Street lender Metrobank started to offer the "Mx" prefix on its forms. ...
Mortgage approvals fall as UK consumers rely on credit to keep spending image
Source : Guardian [Read Article] Wednesday 29th of March 2017 12:07:32 PM
.... Archer is forecasting a rise of 3% or less, following a 4. 5% increase in house prices in 2016, according to the mortgage lender Nationwide. ...
UK's borrowing binge is worrying the Bank of England image
Source : Guardian [Read Article] Monday 27th of March 2017 02:29:00 PM
.... Now – having bottomed out at 140% of GDP – the ratio is on the rise again. The Bank’s financial policy committee wants to know whether the increase marks a return to the bad old days when lenders put themselves in jeopardy by making it far too easy to obtain credit. ...
UK banks given new stress test scenarios image
Source : BBC [Read Article] Monday 27th of March 2017 11:43:00 AM
....The banks will have to show they have sufficient resources in place to cope with any shocks. The seven major lenders taking part are Barclays, HSBC, Lloyds, RBS, Santander UK, Standard Chartered and Nationwide. ...
UK banks asked to draw up plans to show they are prepared for Brexit image
Source : Guardian [Read Article] Monday 27th of March 2017 09:26:41 AM
.... Risks from Britain’s commercial property sector have also been reduced after a fall in prices, the FPC said. The Bank’s stress tests on seven leading lenders this year will for the first time include an exploratory scenario that will examine banks’ resilience over seven years of weak global growth, low interest rates and high legal costs and fines for misconduct, and look at the viability of their business models. ...
Payday loan industry using former Labor shadow minister as lobbyist image
Source : Guardian [Read Article] Monday 27th of March 2017 03:41:46 AM
....The payday loan industry is using Labor’s former shadow financial services minister to lobby against stronger protections for vulnerable and low-income borrowers. Consumer advocates have put pressure on the government to act on a promise to tighten regulation of the controversial sector, following repeated accusations that unscrupulous lenders are giving high-fee loans to borrowers who are unable to repay. ...
Consumer advocates call for crackdown on irresponsible payday lending image
Source : Guardian [Read Article] Sunday 26th of March 2017 07:35:58 PM
....“Every day the federal government delays this legislation is another day someone walks through our doors in financial distress because of the devastatingly poor practices within this industry,” Kelly said. The review’s recommendations included requiring equal repayments over the life of a short-term loan and preventing lenders from charging monthly fees if a loan is repaid early. ...
The death of the mortgage salesman is unfortunately premature image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:03 AM
.... But are these relics in fact still alive and crawling back into the mainstream?. On the quiet the major mortgage lenders have begun making “retention” payouts to brokers, alongside the “procuration” fees they have long paid. ...
Is an Isa the best home for your nest egg? image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:03 AM
....Another option is the so-called “innovative finance Isa” which allow investors to offer peer-to-peer loans, which are held within the Isa “wrapper”. There are a host to choose from, but there is no protection if it all goes wrong and the lender defaults – although the rates are very attractive. ...
Co-operative Bank says it has interest of several credible buyers image
Source : Guardian [Read Article] Friday 24th of March 2017 10:12:57 AM
....But many of the banks cited as potential buyers of the bank in its entirety have faded away. There was initial speculation of a bid from TSB’s parent company, Spanish lender Sabadell, but a move has since been ruled out. ...
Co-op Bank sale plan attracts suitors image
Source : BBC [Read Article] Friday 24th of March 2017 09:52:14 AM
....The Co-op Bank has four million customers and is well known for its ethical standpoint, which its board said made it "a strong franchise with significant potential" to prospective buyers. On Thursday, it emerged that the Bank of England had placed the Co-op Bank under "intensive supervision" as survival options for the ethically-based lender dwindle. ...
Deutsche Bank commits to new London office image
Source : BBC [Read Article] Friday 24th of March 2017 09:49:11 AM
.... . Germany's biggest lender is in exclusive talks for a 25-year lease on a new building. ...
New Nationwide deal for parents to raise cash from their home to help their children image
....It said the deals could be used by home-owners helping their children to take their first steps on the property ladder, or relatives looking to assist older parents to move for example. Both existing Nationwide mortgage members and those re-mortgaging to the Society from another lender can apply for the Family Deposit Mortgage to raise extra capital for a family member. ...
UBS charges customers to deposit euros image
Source : BBC [Read Article] Wednesday 22nd of March 2017 03:27:40 PM
....The ECB penalises banks that store euros with it in an effort to make them lend rather than hoard their cash. It imposes a so-called negative rate, equivalent to four euros annually on each 1,000 euros that lenders deposit with the central bank. ...
Bank that lent $300m to Trump linked to Russian money laundering scam image
Source : Guardian [Read Article] Tuesday 21st of March 2017 07:00:14 PM
.... From there, the money went to accounts in Latvia with Trasta Komercbanka. Deutsche, Germany’s biggest lender, acted as a “correspondent bank” for Trasta until 2015. ...

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