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RBS reports £469m loss as restructuring costs rise

RBS reports £469m loss as restructuring costs rise

RBS has reported an operating profit before tax of £255m in Q3, but an attributable loss of £469m due to restructuring costs of £469m, litigation and conduct costs of £425m and a £300m deferred tax asset impairment.

28 Oct 2016

Government reduces Lloyds shareholding to below 9%

Government reduces Lloyds shareholding to below 9%

The government has made further sales of its shares in Lloyds Banking Group, reducing its remaining shareholding to less than 9%.

27 Oct 2016

Innovative Finance ISA to include crowd bonds

Innovative Finance ISA to include crowd bonds

HM Treasury has introduced new legislation to extend the Innovative Finance ISA to include crowd bonds from 1 November 2016.

27 Oct 2016

The Mortgage Lender expands senior team

The Mortgage Lender expands senior team

The Mortgage Lender has made a number of new appointments, including two senior team members, as part of continued growth following a successful launch earlier this year.

27 Oct 2016

Low rates and capital rules hitting lenders, admits BoE

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Low rates and capital rules hitting lenders, admits BoE

The Bank of England has acknowledged that "many banks have simply not yet adapted to the new prudential constraints or the lower-rate environment".

27 Oct 2016

Further Bank Rate cut unlikely as GDP defies expectations

Further Bank Rate cut unlikely as GDP defies expectations

The Bank of England's MPC are now unlikely to cut bank rate at next month's meeting after GDP growth was higher than expected in Q3.

27 Oct 2016

Industry backs petition to ban pension cold-calling

Industry backs petition to ban pension cold-calling

A petition calling for a ban on cold-calling to sell pensions and investments has received the backing of industry firms including Royal London.

27 Oct 2016

GDP growth "unaffected" by Brexit with 0.5% Q3 rise: ONS

GDP growth "unaffected" by Brexit with 0.5% Q3 rise: ONS

GDP rose by 0.5% in Q3 compared with growth of 0.7% in Q2, according to the first ONS release to cover a full quarter of data following the EU referendum.

27 Oct 2016

TSB doubles profits to £149m

TSB doubles profits to £149m

TSB's profit before tax rose to £149.3 million in the first nine months of 2016, an annual increase of 95.4%.

27 Oct 2016

Foundation Home Loans doubles BTL portfolio limits

Foundation Home Loans doubles BTL portfolio limits

Foundation Home Loans has announced a series of changes to its criteria concerning proof of income as well as doubling the value of portfolios it will accept.

27 Oct 2016

 

Barclays Q3 profits up 35%

Barclays Q3 profits up 35%

Barclays has reported a 35% rise in Q3 pre-tax profits to £837m, boosted by strong trading in its investment banking arm.

27 Oct 2016

41% of millennials would mortgage through an app

41% of millennials would mortgage through an app

More than two in five (41%) millennials say they would be willing to use an app to buy a mortgage if one were to exist, and over half would take out a mortgage with a challenger bank, according to EDM Mortgage Support Services.

26 Oct 2016

Average pension withdrawal halves to £9,700 in Q3

Average pension withdrawal halves to £9,700 in Q3

£1.54 billion was withdrawn from pension schemes in Q3 according to new HMRC statistics - a decrease from £1.77 billion in the previous quarter.

26 Oct 2016

FCA to extend powers over unregulated firms

FCA to extend powers over unregulated firms

The FCA has announced plans to intervene further in unregulated activities as part of its new Mission, launched today.

26 Oct 2016

FCA plans Handbook review as part of new mission

FCA plans Handbook review as part of new mission

The FCA has revealed its new Mission, which is designed to inform the FCA’s strategy and day-to-day work over the coming years.

26 Oct 2016

V Loans partners with IRESS for second charge sourcing

V Loans partners with IRESS for second charge sourcing

V Loans has partnered with IRESS to launch second charge sourcing via its advice platform XPlan mortgage.

26 Oct 2016

September mortgage approvals drop 15%: BBA

September mortgage approvals drop 15%: BBA

House purchase approval numbers are 15% lower than in September 2015 and gross mortgage borrowing saw a 2% drop to £12bn, according to the latest BBA lending figures.

26 Oct 2016

Industry petitions for government rethink of Lloyds sale

Industry petitions for government rethink of Lloyds sale

Hargreaves Lansdown has set up a petition asking the government to reconsider its decision to cancel the public sale of Lloyds shares.

26 Oct 2016

Clydesdale launches bid for Williams & Glyn

Clydesdale launches bid for Williams & Glyn

Clydesdale & Yorkshire Banking Group has confirmed it has made a proposal to RBS to buy Williams & Glyn.

26 Oct 2016

Government resumes £16bn Bradford and Bingley sale

Government resumes £16bn Bradford and Bingley sale

The sale of mortgage assets the government holds from Bradford & Bingley has been launched by UK Asset Resolution Limited.

26 Oct 2016

Metro Bank mortgage lending up 77%

Metro Bank mortgage lending up 77%

Metro Bank's Q3 results show a 66% rise in deposits to £7,297m year-on-year, as well as its first underlying profit before tax at £0.6m compared to a £3.4m loss in Q2.

26 Oct 2016

Kuflink Bridging receives full FCA authorisation

Kuflink Bridging receives full FCA authorisation

Kuflink Bridging has received notification from the FCA that it has become a fully authorised firm.

26 Oct 2016

SimplyBiz expands digital offering for advisers

SimplyBiz expands digital offering for advisers

SimplyBiz Group is launching a new digital offering to its member and client firms.

25 Oct 2016

Openwork adds Hodge Lifetime to panel

Openwork adds Hodge Lifetime to panel

Openwork has boosted its lender panel with the addition of Hodge Lifetime.

25 Oct 2016

IPO market shrinks 42% post-Referendum

IPO market shrinks 42% post-Referendum

A significant slowdown in the IPO market in the first half of the year has continued through the third quarter as the EU referendum takes its toll, according to Henderson Managed Investment Trusts.

25 Oct 2016

Time for advisers to show their worth: Barclays quarterly review

Time for advisers to show their worth: Barclays quarterly review

When starting a remortgage review of any quarter it’s always good to have a look back and evaluate previous expectations, or lack of. In my Q2 review I pointed out that the associated costs of lending would come under increased scrutiny in the months ahead and this has certainly proved to be the case. Q3 saw a raft of rate changes from lenders, mainly positive, plus a variety of free valuation offers and cashback incentives.

25 Oct 2016

"Box-ticking" regulators risking another crisis, warns report

"Box-ticking" regulators risking another crisis, warns report

Britain is "sleepwalking into another financial crisis" unless the culture of financial regulators is changed, according to a new report.

25 Oct 2016

Castle Trust expands BDM team

Castle Trust expands BDM team

Castle Trust has continued its expansion by recruiting a further BDM, Mark Stephenson, for East Anglia.

25 Oct 2016

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