Blog Category: News
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
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
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
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
In January 2014 the Financial Ombudsman Service (FOS) produced a budget based on the number of cases they expected to deal with in the coming year.
PPI remains the largest single source of complaints for FOS, who adjudicate on cases which have previously been rejected by the banks. Each case generates a fee.Read More
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
Lloyds Bank could be re-privatised by the end of 2015 says Chancellor George Osborne.
He was speaking after the government reduced its stake in the bank to less than 13% by selling off a further 1% of its holding, valued at around £500 million, to institutional investors.Read More
The Financial Ombudsman Service (FOS) is still receiving more than 3,600 new PPI complaints every week, according to figures released today.
But they are just the claims appealed by consumers after being rejected by the banks. Many thousands more are successful and are paid out each week.Read More
UK lenders are agreeing record numbers of deals for struggling borrowers who have run into arrears according to new Bank Of England figures.
But it’s not all good news. Tenants are being evicted at seven times the rate of home repossessions.Read More
Financial experts are speculating that Britain’s banks are on the verge of being hit by another £40 billion bill for mis-selling and manipulation of a number of exchange rates.