There can be few bigger milestones in a person’s life than buying their own home.
In this day and age it is getting more difficult than ever with the lack of affordable housing nationwide and the difficulty in raising enough cash for a large enough deposit to get a mortgage.Read More
Martin Edwards had been with Lloyds Bank for 40 years, starting his account when he was a boy soldier of 15, and had lots of different loans and other agreements with them, but had no idea whether or not PPI was attached to any of them.
The government is preparing to sell a £3 billion stake in Royal Bank Of Scotland (RBS), but the sale is likely to be delayed until after the decision in a long-running American mis-selling case is known.
Sources have said the Treasury is preparing for the sale, but a potentially massive fine from the American Department Of Justice (DOJ) is still hanging over the bank.Read More
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
The Co-operative Group has written off its 20% stake in the Co-op Bank as it reports its first annual loss since 2013.
The group has announced a £132 million loss for 2016 after a profit of £23 million for 2015.Read More
Royal Bank Of Scotland (RBS) has achieved a ‘pennies on the dollar’ settlement for one of a number of mortgage class actions it is facing in America.
RBS – together with Wells Fargo and Deutsche Bank – have reached a $165 million class action settlement in a case involving their underwriting for sub-prime mortgage lender NovaStar Mortgage of Kansas City.Read More
Blackstone and Prudential have been named as preferred bidders for the sale of the former Bradford & Bingley £12.5 billion mortgage book.
The two firms have won out against stiff competition from a number of other prospective buyers including private equity firm Cerberus, hedge funds Car Val, Elliott and Och-Ziff and specialist mortgage bank Paragon.Read More
The race to buy a share of the Bradford & Bingley £12.5 billion mortgage book is entering its final stages with a number of finance groups joining forces to put in their bids.
The latest bidders for a slice of the pie are the Prudential insurance company and Paragon Bank who want to buy up around £3 billion worth of the assets on sale.Read More
The battle to buy the £16 billion loan book for the former Bradford & Bingley is heating up with the government receiving inquiries from more than 50 financial service companies.