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BoE Executive Director seconded to FCA

BoE Executive Director seconded to FCA

Megan Butler, Executive Director of International Banks Directorate at the Bank of England, will undertake a twelve month secondment at the Financial Conduct Authority as Director of Supervision - Investment, Wholesale & Specialists.

30 Jul 2015

Bank of Ireland acquires Lloyds loan portfolio

Bank of Ireland acquires Lloyds loan portfolio

Bank of Ireland is set to acquire a commercial loan portfolio from Lloyds Banking Group.

30 Jul 2015

Kevin Paterson: The Consumer Rights Act, a new FCA chief, and a loss of faith

Kevin Paterson: The Consumer Rights Act, a new FCA chief, and a loss of faith

Kevin Paterson's Expert Opinion this week covers the Consumer Rights Act, a change in leadership at the regulator, and a loss of good faith.

30 Jul 2015

Treasury begins consultation on "excessive" pension exit fees

Treasury begins consultation on "excessive" pension exit fees

The Treasury has today announced that it will launch an immediate consultation on whether exit charges could be cut or capped for those looking to access their pensions early, and to ask pensioners and industry experts how to remove other barriers that may be stopping people enjoying the benefits of increased flexibility over their pension pot.

30 Jul 2015

The Lending Channel expands BDM team

The Lending Channel expands BDM team

The Lending Channel, formerly Blimey Loans, has appointed Martin Gallagher as its new Scottish BDM.

30 Jul 2015

HSBC cuts rates across resi range

HSBC cuts rates across resi range

HSBC has cut rates by up to 0.4% on its residential mortgage range.

30 Jul 2015

HSBC announces partnership with London & Country

HSBC announces partnership with London & Country

HSBC has partnered with London & Country, its second mortgage broker agreement since its partnership with Countrywide last year.

30 Jul 2015

FCA bans former Rabobank trader following LIBOR fraud

FCA bans former Rabobank trader following LIBOR fraud

The Financial Conduct Authority has banned Lee Stewart, a former trader at Rabobank, from the UK financial services industry for lacking honesty and integrity following a criminal conviction for fraud in the US.

30 Jul 2015

RBS announces Q2 profit despite £153m H1 loss

RBS announces Q2 profit despite £153m H1 loss

The Royal Bank of Scotland has reported a loss of £153 million in the first half of 2015, including £1,503 million of restructuring costs and £1,315 million of litigation and conduct costs.

30 Jul 2015

The Mansfield strengthens management team

The Mansfield strengthens management team

The Mansfield Building Society has announced the appointment of Richard Crisp to the Society's management team as Commercial Development Executive.

30 Jul 2015

 

Translating service levels to business growth

Translating service levels to business growth

Here's an interesting exercise for anyone who runs or manages a firm: looking at the next 12 months write down what your top five priorities are for the business.

29 Jul 2015

Platform reduces high-LTV rates

Platform reduces high-LTV rates

Platform, the intermediary lender of The Co-operative Bank, has revised its mainstream mortgage range available to brokers.

29 Jul 2015

Virgin's profits boosted by 44% rise in mortgage lending

Virgin's profits boosted by 44% rise in mortgage lending

Virgin Money's underlying profit rose by 37% to £81.8 million in H1 2015, boosted by a 44% increase in gross mortgage lending.

29 Jul 2015

FCA: firms still failing to manage benchmark risks

FCA: firms still failing to manage benchmark risks

The FCA has said that firms have not learnt their lessons from the Libor and Forex scandals, and that improvement has been uneven across the industry, often lacking the "urgency required given the severity of recent failings".

29 Jul 2015

Remortgage equity hits record high as falling rates continue

Remortgage equity hits record high as falling rates continue

The average amount of equity withdrawn by remortgaging hit a record high of £34,500 per borrower, as borrowers were spurred to remortgage by record low rates and much improved affordability.

29 Jul 2015

Two-thirds of secured loans used to consolidate debt

Two-thirds of secured loans used to consolidate debt

Clever Lending are seeing 61% of their secured loan cases being used for debt consolidation.

29 Jul 2015

BoE: approvals exceeed expectations in June

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BoE: approvals exceeed expectations in June

The number of mortgage approvals rose to 66,582 in June, beating economists' expectations, according to the latest Bank of England Money and Credit report.

29 Jul 2015

Barclays sets aside £1bn for consumer redress

Barclays sets aside £1bn for consumer redress

Barclays has aside a further £1bn to cover future redress costs, while reporting a 25% rise in statutory pre-tax profits.

29 Jul 2015

IRESS launches new intermediary product

IRESS launches new intermediary product

IRESS has launched its new product for mortgage intermediaries, XPLAN Mortgage.

29 Jul 2015

Two thirds pay "little or no attention" to their pension pots

Two thirds pay "little or no attention" to their pension pots

Almost two thirds (63%) of over-45s have admitted they pay little or no attention to their pensions, leading to more than ten million pots being left largely unmonitored.

29 Jul 2015

Commuters save up to £450,000 on house prices

Commuters save up to £450,000 on house prices

Commuters with up to an hour's rail journey to London save, on average, £450,000 (or 60%) on the average house price compared to those living in central London, according to the latest research by Lloyds Bank.

29 Jul 2015

Mortgage rates fall to new record lows

Mortgage rates fall to new record lows

Mortgage Brain's quarterly product data analysis shows a further widespread drop in mortgage rates for all main product types, despite predictions of a rate rise later this year.

28 Jul 2015

Greek crisis good news for mortgage rates?

Greek crisis good news for mortgage rates?

The financial crisis in Greece has been dominating the financial headlines for months, with all sorts of predicted ramifications - both for them and their fellow EU members.

28 Jul 2015

Shawbrook profits soar 94% to £34.8m

Shawbrook profits soar 94% to £34.8m

In H1 2015, Shawbrook Bank's pre-tax profits rose 94% from the first half of 2014, driven by a 38% increase in its loan book to £2.72bn.

28 Jul 2015

Embedding the Mortgage Market Review: Advice and Distribution TR15/9

Embedding the Mortgage Market Review: Advice and Distribution TR15/9

The FCA has issued a report (TR15/09) summarising the key findings of its thematic review into the quality and suitability of mortgage advice provided by firms following the implementation of the Mortgage Market Review.

28 Jul 2015

Challenger bank plans mortgage market entry

Challenger bank plans mortgage market entry

Secure Trust Bank has announced its intention to enter into the UK mortgage and cash ISA markets.

28 Jul 2015

Osborne announces new MPC member

Osborne announces new MPC member

The Chancellor has announced that Dr Gertjan Vlieghe has been appointed as external member of the Monetary Policy Committee.

28 Jul 2015

ONS: GDP accelerates to 0.7% in Q2

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ONS: GDP accelerates to 0.7% in Q2

GDP is estimated to have increased by 0.7% in Q2 compared with growth of 0.4% in Q1, according to ONS' preliminary estimates.

28 Jul 2015

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