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Blog Category: Banks


Interest rates may change soon – but down, not up

Interest rates may change soon – but down, not up

A change in interest rates from the Bank Of England has been predicted soon.

Nothing new in that you might think, but the suggestion is they might have to go down before they can go up!Read More


Spanish bank joins Northern Rock fight

Spanish bank joins Northern Rock fight

The Spanish bank Sabadell has joined the fight to buy £13 billion worth of former Northern Rock mortgages from the British taxpayer.

The bank – which bought the TSB brand from Lloyds Banking Group (LBG) earlier this year – is thought to be a front-runner in the battle to buy the portfolio of loans, known as Granite, from UK Asset Resolution (UKAR).Read More


Banks pay out another £327.9 million for mis-sold PPI

Banks pay out another £327.9 million for mis-sold PPI

New figures from the Financial Conduct Authority (FCA) show that Britain’s banks paid out another £327.9 million for mis-sold PPI in July.

That maintains the average £⅓ billion increase each month over the last year and brings the overall total paid out since January 2011 to £20.8 billionRead More


MP wants US government to scrap RBS £5 billion fine

MP wants US government to scrap RBS £5 billion fine

An influential British MP has claimed the Foreign Office should lobby the US government to get them to scrap a £5 billion ($8 billion) fine facing Royal Bank Of Scotland (RBS).

Jacob Rees-Mogg, a high profile member of the Treasury Select Committee, says Britain’s diplomats should be trying to get the US financial regulators to stop the litigation against the bank.Read More


Banks batten down the hatches as Plevin decision nears

Banks batten down the hatches as Plevin decision nears

Britain’s high street banks are battening down the hatches as they wait for regulators to decide how hard the Plevin case on PPI mis-selling is going to hit them.

Read More


American banks bid for £13 billion worth of Northern Rock mortgages

American banks bid for £13 billion worth of Northern Rock mortgages

A consortium of American banks has come together to buy up a massive £13 billion worth of Northern Rock mortgages.

Banking giants Citi and Goldman Sachs have joined forces with Blackstone, TPG Capital and the Och-Ziff hedge fund to bid for Granite – the mortgage securitisation vehicle of the former Northern Rock Bank.Read More


Personality tests for borrowers?

Personality tests for borrowers?

If banks and building societies have their way you could soon be facing a personality test if you want to borrow money from them.

Applicants for loans, credit cards and even mortgages may soon have to face psychometric tests which lenders are considering employing to calculate the chances of you missing a payment.Read More


HSBC may drop Midland Bank re-brand

HSBC may drop Midland Bank re-brand

Midland Bank is no longer the odds on favourite for the HSBC re-brand when the retail and investment divisions split under new banking regulations.

Chief executive Stuart Gulliver had previously floated the Midland name because that was the name of the bank HSBC took over when they moved their base of operations from Hong Kong to London in in 1992.  It was phased out in 1999.Read More


Urgent talks sought on EU bankers bonus rules

Urgent talks sought on EU bankers bonus rules

UK banks have joined their European colleagues in protesting about the new bonus rules which were finalised earlier this year.

The new rules were brought in following public anger at the size of bonuses paid to top bank officials while Britain was still struggling to climb out of the depths of the recession.Read More


Mortgage approvals at 18 month high

Mortgage approvals at 18 month high

Britain’s banks and building societies granted more mortgages in July than any other time in the last 18 months, according to new figures from the British Bankers’ Association (BBA).

Approvals rose from 44,802 in June to 46,033 in July – 11% up year on year – and re-mortgaging rose by 30% to its highest level for four years.Read More



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