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The FCA has fined Lloyds TSB Bank plc and Bank of Scotland plc, both part of Lloyds Banking Group, £28,038,844 for serious failings in their controls over sales incentive schemes.
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House prices in the three months to October were 1.6% higher than in the previous quarter (May-July), according to the latest house price data from Halifax.
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George Osbourne announced today the revised figures from the Office of Budget Responsibility, who have upgraded their growth projection for the UK economy to 1.4% from 0.6%.
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The number of loans advanced to homebuyers in November climbed above 70,000 for the first time since January 2008, according to the latest Mortgage Monitor from e.surv.
Mortgage News
Slow instruction rate drives house price increase - RICS
The November 2013 RICS Residential Market Survey appears to underscore the recent firm trend in the sales market.
Loans & Lending News
Dragonfly Property Finance passes £750m of loans
Short- and medium-term lender Dragonfly Property Finance, today announced it has passed two significant growth milestones.
Commercial Finance News
UTB hires solicitor to enhance bridging team
United Trust Bank has hired banking lawyer William Gould for its Bridging Division. William’s appointment will enable the Bank to further develop its service, in particular with regard to providing complex structured loans.
Economy News
Autumn Statement: Growth up significantly, says OBR
George Osbourne announced during the Autumn Statement today the revised figures from the Office of Budget Responsibility, who have upgraded their growth projection for the UK economy to 1.4% from the 0.6% predicted in the March budget.
Debt & Insolvency News
Managing our personal finances is getting harder, according to new research
Managing our personal finances is getting harder and the move towards a cashless society could make this trend even worse, according to new research conducted by ING.
Regulation News
Regulators struggle to balance protection with growth
Nearly half of financial services professionals (49%) globally don’t believe that any regulator has managed to strike the right balance between protecting investors and underpinning growth, according to global professional services firm Kinetic Partners.
Insurance News
Aviva enhances CI cover to increase number of claims paid
Aviva has enhanced its critical illness cover, with a focus on changes which will make the biggest difference to its customers.
Business News
Chancellor welcome Tesco Bank move into current accounts
The Chancellor has welcomed Tesco Bank’s announcement that it plans to launch a personal current account product next year.
Technology News
Vizolution launches web chat for advisers
Vizolution has launched vChat, a new web chat capability for advisers or agents speaking to clients remotely.
Pensions & Equity Release News
Focus on rates holding back progress in joint annuities market
Consumer demand for joint life annuities is climbing, but a lack of education is slowing progress in ensuring retired couples have the most suitable annuity product in retirement, according to the latest research by IRESS.
Investments & Offshore News
Shawbrook launches new 5 year bond at 3.20%
Following the success of previous Shawbrook 5-year fixed rate bonds, a new issue has been launched by the Bank today at a market leading rate of 3.20% Gross/AER.
Surveying & Conveyancing News
Connells combat surveyor shortage with £6m investment plan
Following a period of rapid growth fueled by the recovering property market, increased mortgage lending and new clients, Connells Survey & Valuation has announced an additional £6m annual investment into growing its team of Chartered Surveyors.
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