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Insurance broker fined for anti-bribery failings

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Insurance broker fined for anti-bribery failings

The FCA has fined general insurance broker Besso Limited £315,000 for a failure to take reasonable care to establish and maintain effective systems and controls for countering the risks of bribery and corruption.

19 Mar 2014

Co-op announces board reshuffle after CEO resignation

Latest News

Co-op announces board reshuffle after CEO resignation

Following the resignation of their CEO Euan Sutherland last week, the Co-operative Group has announced a number of changes to its executive management team and delayed its annual results.

19 Mar 2014

Annual bridging conference date revealed by ASTL

Annual bridging conference date revealed by ASTL

The ASTL has revealed the date of the bridging industry’s annual conference. It is to take place in six months’ time on 16 September 2014 and will look at the issues and opportunities facing the industry.

19 Mar 2014

CHL reports arrears drop for buy-to-let book

Mortgages

CHL reports arrears drop for buy-to-let book

Specialist lender, CHL Mortgages, has today revealed a continuing fall in arrear levels throughout 2013 for its buy-to-let mortgage book.

19 Mar 2014

Remortgage grows faster than rest of housing market

Mortgages

Remortgage grows faster than rest of housing market

Over the last twelve months, the number of valuations for remortgaging purposes has grown faster than any other part of the housing market, according to chartered surveyors Connells Survey & Valuation.

19 Mar 2014

February sees 54% growth - and new era of regulation beckons for secured lending

February sees 54% growth - and new era of regulation beckons for secured lending

February 2014 marks the 28th month in a row of year-on-year growth in secured lending, according to the latest Secured Loans Index from Loans Warehouse, with no signs that this trend will be interrupted.

19 Mar 2014

Lack of surveyors is slowing loan approvals, warns Blemain

Legal

Lack of surveyors is slowing loan approvals, warns Blemain

A shortage of surveyors is continuing to put pressure on the secured loan sector and residential mortgage market, despite on-going efforts by the industry to train and recruit more talent.

18 Mar 2014

5-year fixed rate products launched by Monmouthshire BS

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5-year fixed rate products launched by Monmouthshire BS

Monmouthshire Building Society launches a new range of five year fixed rate house purchase and remortgage products just in time for spring.

18 Mar 2014

Stricter lending criteria mean more work, say 85% of brokers

Mortgages

Stricter lending criteria mean more work, say 85% of brokers

The vast majority of mortgage brokers have seen their workload increase over the last three years according to a survey from Legal & General Mortgage Club.

18 Mar 2014

LMS launches new legal panel with the West Brom

Legal

LMS launches new legal panel with the West Brom

LMS has joined together with the West Bromwich Building Society to launch and manage its conveyancing panel, through the use of an innovative online portal.

18 Mar 2014

 

1 in 20 mortgage customers won't repay until over 70 years old

Mortgages

1 in 20 mortgage customers won't repay until over 70 years old

A third of homeowners with repayment mortgages will not have finished repaying the property loan until they have reached their retirement years.

18 Mar 2014

Capital Bridging Finance secured first funding line since acquisition

Capital Bridging Finance secured first funding line since acquisition

Capital Bridging Finance Limited has announced that following its acquisition by Omni Partners LLP, it has secured its first funding line through the recently launched Omni Secured Lending Fund 1 LP.

18 Mar 2014

Shawbrook appoints first Scottish Strategic Partner

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Shawbrook appoints first Scottish Strategic Partner

Shawbrook Bank is announcing its first Scottish Strategic Partner, Glasgow-based Melrose Commercial Finance.

18 Mar 2014

40p tax rate is ‘short termist’, says deVere Group boss

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40p tax rate is ‘short termist’, says deVere Group boss

The Chancellor’s likely move not to give relief on the 40p tax rate in his Budget tomorrow has been branded as ‘short termist’ and slammed as a ‘disincentive to aspiration,’ by the boss of an independent financial advisory organisation.

18 Mar 2014

Bank of England announces three senior appointments

Latest News

Bank of England announces three senior appointments

The Chancellor has today announced a number of senior appointments to the Bank of England, which will 'strengthen and enhance' the Bank’s senior team.

18 Mar 2014

Saffron BS makes doubles its pre-tax profit in 2013

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Saffron BS makes doubles its pre-tax profit in 2013

Saffron Building Society has announced strong results in its Annual Report, which confirm a pre-tax profit of £3.1million for 2013, more than double the £1.4m in 2012.

17 Mar 2014

Skipton ups rates on shorter term ISAs

Savings & Investments

Skipton ups rates on shorter term ISAs

Skipton Building Society has today announced the launch of a new Fixed Rate ISA range which sees interest rates increase on its one, two and three year products.

17 Mar 2014

Industry veteran Paul Howard retires from Castle Trust

Latest News

Industry veteran Paul Howard retires from Castle Trust

Paul Howard is to retire as managing director of Castle Trust in May when his contract expires after more than 30 years in the mortgage industry.

17 Mar 2014

Short term lenders responding to broker demands, survey shows

Short term lenders responding to broker demands, survey shows

The results of a second broker survey by Capital Bridging Finance has shown that lenders have responded to broker demand for longer term, higher LTV short term loans.

17 Mar 2014

Rising rents mean owning a home is £124 cheaper a month

Mortgages

Rising rents mean owning a home is £124 cheaper a month

According to research by Halifax, increasing rents mean that the costs between owning a home and renting one are widening dramatically.

17 Mar 2014

Stamp Duty 'dead-zones' cost sellers over quarter of a billion pounds

Mortgages

Stamp Duty 'dead-zones' cost sellers over quarter of a billion pounds

Stamp duty 'dead-zones' have wiped over £260 million off the value of residential properties sold in the England and Wales since April 2012 at an average cost of almost £7,000 to each seller, according to property website Zoopla.co.uk.

17 Mar 2014

Chancellor extends Help to Buy 1 until 2020

Mortgages

Chancellor extends Help to Buy 1 until 2020

The Chancellor yesterday announced further support for the construction of 120,000 new homes as part of the Help to Buy: equity loan scheme.

17 Mar 2014

Deposits still holding 62% of would-be buyers back

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Deposits still holding 62% of would-be buyers back

83% of non-homeowners aspire to join the property ladder, but despite the return of 95% mortgages under Help to Buy 2, 62% of these would-be first time buyers still cannot afford the necessary deposit.

17 Mar 2014

More buyers pushes competition to eight buyers per instruction

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More buyers pushes competition to eight buyers per instruction

According to the latest National Sales Index from Sequence, eight buyers (7.7) are chasing every new instruction as the number of new buyers across the UK rises by over a quarter (26%) on last year.

17 Mar 2014

Islamic Bank to boost understanding of Sharia-compliant savings

Savings & Investments

Islamic Bank to boost understanding of Sharia-compliant savings

Islamic Bank of Britain is hosting an information evening in London dedicated to improving the local community’s understanding of Sharia compliant savings.

14 Mar 2014

RBS suffers downgrade from Moody's

Latest News

RBS suffers downgrade from Moody's

Credit ratings agency Moody's has downgraded part-nationalised Royal Bank of Scotland by one notch because its latest proposed restructuring poses a risk to bondholders.

14 Mar 2014

Martin Nixon, Head of Asset Finance, United Trust Bank

In The Spotlight

Martin Nixon, Head of Asset Finance, United Trust Bank

Financial Reporter chatted to Martin Nixon, Head of Asset Finance at United Trust Bank.

14 Mar 2014

Ipswich BS launches 1.97% 2-year fix

Mortgages

Ipswich BS launches 1.97% 2-year fix

Ipswich Building Society has launched a competitive two year fixed rate 75% loan-to-value mortgage product available to brokers in the East of England as well as the PMS and Sesame broker networks.

14 Mar 2014

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