Latest News

Another £6bn of B&B mortgages go up for sale

Another £6bn of B&B mortgages go up for sale

The UK government is preparing to sell off another £6 billion worth of Bradford and Bingley (B&B) mortgage loans – twice the expected amount.

The sell-off follows the successful deal in which insurance giant Prudential and US private equity firm Blackstone bought £11.8 million worth of B&B mortgages in March.Read More


Charity of the month

Kelvin Hughes of Dravet Syndrome UK receives our £400 donation from Sarah Cunliffe who nominated the charity

Our charity of the month for June is Dravet Syndrome UK, nominated by Sarah Cunliffe.

Dravet Syndrome is a rare and disabling type of epilepsy which is all the more distressing as is presents in infants and for which there is no known cure.Read More

PPI deadline consultation costs FCA £473,000

PPI consultation costs FCA £473,000

The consultation on the timing and implementation of the PPI claims deadline has cost the country’s financial watchdog £473,000, it has been revealed.

The Financial Conduct Authority (FCA) was responding to Freedom Of Information request about the cost.Read More

RBS close to £multi billion US settlement?

RBS close to £multi billion US settlement?

Royal Bank Of Scotland (RBS) is believed to be on the verge of settling a £multi-billion claim for the mis-selling of toxic mortgage bonds in America.

Details have not yet been confirmed, but it is understood that the bank are close to a settlement with the Federal Housing Finance Agency (FHFA) for $4.5 billion (£3.5  billion)Read More

Five former Lloyds executives facing trial over HBOS

Five former Lloyds executives facing trial over HBOS

Five former Lloyds TSB executives – including chairman Sir Victor Blank and chief executive Eric Daniels – are facing a £350 million trial over the ill-fated rescue of HBOS at the height of the financial crisis.

The bank is being sued by the Lloyds/HBOS Shareholder Action Group, which represents around 6,000 former Lloyds TSB shareholders.  They are claiming the bank misled them about the £12 billion HBOS takeover.Read More

FOS still get 600+ PPI complaints a day

FOS still get 600+ PPI complaints a day

Britain’s Financial Ombudsman Service (FOS) is still getting more than 600 complaints every working day about mis-sold PPI more than a decade after the scandal first came to light.

In its annual report, the service reveals it received 168,769 new PPI complaints in 2016/17.  This was more than 10 years after the Citizens Advice super complaint to the Office of Fair Trading in September 2005 gave us the first inkling of the scope of what has become one of Britain’s biggest ever financial mis-selling scandals.Read More

RBS to pay £200 million to shareholders

RBS avoids court case

Royal Bank Of Scotland (RBS) has reached a £200 million out of court settlement with a group of shareholders who claim they were duped into buying £12 billion worth of shares when the bank was on the verge of collapse in 2008.

The high profile case in the High Court was adjourned three times by Mr Justice Hildyard to give the two sides a chance to reach an agreement.Read More

Charity Of The Month and extra efforts

Charity of the month and extra efforts

WDP chief executive Dave Thompson and Shopmobility’s Chrissie Corbishley pictured with the two brand new wheelchairs our £400 donation has bought to add to the Motability fleet

Gladstone Brookes is a company which is proud of its efforts to help out local charities and give something back to the community we live in.

Every month we donate our dress down money to a nominated charity which could be either local or national – like this month’s Warrington Disability Partnership (WDP) or Children In Need.Read More

Co-op plans debt for equity scheme to avoid wind-down

Co-op plans debt for equity scheme to avoid wind-down

The Co-operative Bank wants to strike a deal within two weeks to shore up its operation by raising £450 million to cover senior bonds due to mature in September.

Insiders have revealed the plan in which some of the bank’s existing investors will be asked to swap their bonds for shares at a loss.Read More

Barclays facing £1.6 billion US lawsuit over PPI

Barclays facing £1.6 billion US lawsuit over PPI

An American-based credit card company has issued a £1.6 billion lawsuit against Barclays for the mis-selling of PPI through a sub-prime lending business.

The suit has been filed in the High Court in London by CCUK Finance, the British subsidiary of an American company which bought a sub-prime credit card business called Monument from Barclays a decade ago.Read More